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MIRA INFORM REPORT
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Report No. : |
503603 |
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Report Date : |
16.04.2018 |
IDENTIFICATION DETAILS
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Name : |
GRANULES INDIA LIMITED |
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Registered
Office : |
Second Floor, Block III, My Home Hub Madhapur, Hyderabad
-500081, Telangana |
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Tel. No.: |
91-40-66760000 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
18.03.1991 |
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Com. Reg. No.: |
36-012471 Note:
Telangana became the 29th state of India, consisting of the ten
north-western districts of Andhra Pradesh with Hyderabad as its
capital. The city of Hyderabad will continue to serve as the joint
capital for Andhra Pradesh and the successor state of Telangana for a period
of ten years. As a result of which both the state have their own Registrar of
Companies offices and the said subject is now transferred from Andhra Pradesh
ROC (State Code-01) to Telangana ROC (State Code-36). |
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Capital
Investment / Paid-up Capital : |
INR 228.703 Million |
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CIN No.: [Company Identification
No.] |
L24110TG1991PLC012471 |
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IEC No.: [Import-Export Code No.] |
0991001109 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDG00432F |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAACG7369K |
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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
: |
Subject is engaged in the manufacturing and selling of
Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation
intermediates (PFIs) and Finished Dosages (FDs). (Registered Activity) |
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No. of Employees
: |
2325 (Approximately) Note: As per latest annual report there is an increase in the number of employees over past years and current
number employees are 2325. |
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 25260000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Granules India Limited is engaged in the Manufacturing and Selling of Active Pharmaceutical Ingredients (APIs) and Pharmaceutical Formulation Intermediates (PFIs) and Finished Dosages (FDs). The Company was incorporated in the year 1991 and is based in Hyderabad, Telangana. It is an established company having good track record.
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
INDIA RATING |
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Rating |
Long Term Borrowing = A+ |
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Rating Explanation |
Adequate degree of safety and low credit risk |
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Date |
07.03.2018 |
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Rating Agency Name |
INDIA RATING |
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Rating |
Short Term Borrowing = A1+ |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
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Date |
07.03.2018 |
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 16.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Sanjay |
|
Designation : |
Sales Department |
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Contact No.: |
91-40-66760000 |
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Date : |
13.04.2018 |
Ringing - (91-40-30660000/30663600)
LOCATIONS
|
Registered Office : |
Second Floor, Block III, My Home Hub Madhapur, Hyderabad
-500081, Telangana, India |
|
Tel. No.: |
91-40-66760000/30660000/30663600 |
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Fax No.: |
91-40-23115145/30663602 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No.15/A/1,
Phase-III, I.D.A. Jeedimetla, Hyderabad – 500055, Telangana, India |
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Factory 2 : |
Temple Road, Bonthapally, Medak District – 502313, Telangana, India |
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Factory 3 : |
Plot No.160/A and 161/E, Gagillapur Village, Qutubullapur Mandal, R.R. District – 500043, Andhra Pradesh, India |
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Factory 4 : |
Plot
No :- 8, J.N Pharma city, Tadi village, Parawada Mandal, Vishakhapatnam- 531021,
Andhra Pradesh, India |
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Factory 5 : |
Plot No. 216, Bonthapally, Jinnaram Mandal, Medak District, Telangana,
India |
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R&D Centre 1 : |
Formulations Gagillapur, Qutubullapur Mandal, Ranga Reddy District – 500043, Telangana, India |
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R&D Centre 2 : |
API Plot No.15/A/1, Phase-III, I.D.A. Jeedimetla, Hyderabad – 500055, Telangana, India |
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R&D Centre 3 : |
API Gat No.258,
Shreeram Building, Lawale Phata, Pirangut, Taluka Mulshi, District Pune – 412
108, Maharashtra, India |
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API &
Formulations : |
Plot no. 56, Road no. 5, ALEAP, Hyderabad, Telangana, India |
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Overseas Offices : |
Located at: · European Countries · U.S. · Canada ·
· Asia · Middle East · Africa |
Note:
Telangana became the 29th state of India, consisting of the ten
north-western districts of Andhra Pradesh with Hyderabad as its
capital. The city of Hyderabad will continue to serve as the joint capital
for Andhra Pradesh and the successor state of Telangana for a period of ten
years. As a result of which both the state have their own Registrar of
Companies offices and the said subject is now transferred from Andhra Pradesh
ROC (State Code-01) to Telangana ROC (State Code-36).
DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Kurian Peter Arattukulam |
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Designation : |
Director |
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Address : |
9, Freindship, 23rd Road, Tps III, Bandra (West), Mumbai - 400050, Maharashtra, India |
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Date of Appointment : |
07.06.2003 |
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DIN No.: |
00008022 |
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Other Directorship:
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Name : |
Mr. Lakkavajjala Subrahmanya Sarma |
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Designation : |
Director-– Non-Executive, Independent |
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Address : |
Flat No.101, 'A' Wing, Neel Sidhi Tower, Sector 12, Vashi, Navi Mumbai - 400703, Maharashtra, India |
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Date of Appointment : |
30.01.2000 |
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DIN No.: |
00009530 |
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Other Directorship:
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Name : |
Mr. Chigurupati Krishna Prasad |
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Designation : |
Managing Director |
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Address : |
Plot No.512/M, Road No.31, Jubilee Hills, Hyderabad-500033, Telangana, India |
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Date of Birth/Age : |
02.10.1954 |
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Qualification : |
B. Sc. |
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Date of Appointment : |
31.08.1994 |
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DIN No.: |
00020180 |
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Other Directorship:
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Name : |
Mr. Krishna Murthy Ella |
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Designation : |
Director – Non-Executive, Independent |
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Address : |
Bharat Biotech International Limited, Genome Valley, Shamirpet Mandal, Turkapally, Hyderabad - 500078, Telangana, India |
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Date of Appointment : |
04.06.2009 |
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DIN No.: |
00072071 |
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Other Directorship:
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Name : |
Mr. Comandur Parthasarathy |
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Designation : |
Director – Non-Executive, Independent |
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Address : |
D No 8-2-293/82/A/648, Plot No 648, Road No. 34, Jubilee Hills, Hyderabad - 500034, Telangana, India |
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Date of Birth/Age : |
07.07.1955 |
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Qualification : |
B. Sc., LLB, FCA, FCS |
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Date of Appointment : |
27.05.2009 |
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DIN No.: |
00079232 |
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Other Directorship:
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Name : |
Mrs. Uma Devi Chigurupati |
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Designation : |
Executive Director – Non-Independent |
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Address : |
Plot No. 512/M, Road No. 31, Jubilee Hills, Hyderabad - 500033, Telangana, India |
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Date of Appointment : |
31.05.2012 |
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DIN No.: |
00737689 |
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Other Directorship:
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Name : |
Mr. Arun Rao Akinepally |
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Designation : |
Director – Non-Executive, Independent |
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Address : |
Plot 4A, 8-3-335, Road 5, Banjara Hills, Hyderabad - 500034, Telangana, India |
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Date of Appointment : |
27.04.2010 |
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DIN No.: |
00876993 |
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Other Directorship:
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Name : |
Mr. Harsha Chigurupati |
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Designation : |
Director – Non-Executive, Independent |
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Address : |
512/M, Road No. 31, Jubilee Hills, Hyderabad - 500033, Telangana, India |
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Date of Birth/Age : |
05.09.1983 |
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Qualification : |
B.BA |
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Expertise in the
Specific functional area : |
Wide experience in medical and pharmaceutical field. |
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Date of Appointment : |
26.07.2010 |
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DIN No.: |
01606477 |
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Other Directorship: |
· Gil Lifesciences Private Limited · Chigurupati Technologies Private Limited · Tyche Technologies Private Limited |
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Name : |
Mr. Kolli Basava Sankar Rao |
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Designation : |
Director – Non-Executive, Non-Independent |
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Address : |
P No.570, Road No.3, Arora Colony, Banjara Hills, Hyderabad - 500034, Telangana, India |
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Date of Birth/Age : |
10.01.1954 |
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Qualification : |
M. Pharm |
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Expertise in the
Specific functional area : |
Wide experience in medical and pharmaceutical field. |
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Date of Appointment : |
19.02.2013 |
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DIN No.: |
05167550 |
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Other Directorship: |
Raje Retail Private Limited |
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Other Directorship:
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Name : |
Mr. Venkatanaga Kali Vara Prasada Raju Vetukuri |
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Designation : |
Additional Director |
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Address : |
Flat No.404, Shivadurha Residency, Hig-216-217 Phase-Iv, K.P.H.B. Colony Hyderabad-500072, Telangana, India |
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Date of Appointment : |
04.01.2017 |
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DIN No.: |
07267366 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Ganesh Karvappannan |
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Designation : |
Chief Executive Officer |
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Address : |
403, Thirumala Gardens Rangaraju Lane, Road No.1, Banjara
Hills, Hyderabad – 500034, Telangana, India |
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Date of Appointment : |
12.05.2017 |
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PAN No.: |
ACUPG2407R |
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Name : |
Mr. Chaitanya Tummala |
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Designation : |
Company Secretary |
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Address : |
501, Golden Harmony, 2-2-186/18/4, D.D. Colony, Bagh
Amberpet, Hyderabad – 500013, Telangana, India |
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Date of Appointment : |
28.07.2014 |
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PAN No.: |
AEEPT4493A |
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Name : |
Mr. M. Sreekanth |
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Designation : |
Chief Operating Officer |
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Name : |
Mr. Stefan Lohle Corredor |
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Designation : |
Chief Marketing Officer |
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Name : |
Mr. VVS Murthy |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. B. Madhusudan Rao |
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Designation : |
Chief Operating Officer |
Note: Designation of the key executive has been updated as per latest
government registry.
SHAREHOLDING PATTERN
AS ON MARCH 2018
|
Category of
shareholder |
No. of fully paid
up equity shares held |
Shareholding as a %
of total no. of shares |
|
|
(A) Promoter & Promoter Group |
114070801 |
44.94 |
|
|
(B) Public |
139766761 |
55.06 |
|
|
Grand Total |
253837562 |
100.00 |
STATEMENT SHOWING
SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER GROUP
|
Category of
shareholder |
No. of fully paid
up equity shares held |
Shareholding as a %
of total no. of shares |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
Undivided Family |
109317005 |
43.07 |
|
|
Suseela Devi Chigurupati |
166000 |
0.07 |
|
|
Chigurupati Uma Devi |
9902860 |
3.90 |
|
|
C Krishna Prasad |
95329927 |
37.56 |
|
|
Priyanka Chigurupati |
1953898 |
0.77 |
|
|
Pragnya Chigurupati |
1964320 |
0.77 |
|
|
Any Other (Specify) |
3807096 |
1.50 |
|
|
Tyche Investments Private Limited |
3807096 |
1.50 |
|
|
Sub Total A1 |
113124101 |
44.57 |
|
|
A2) Foreign |
0.00 |
||
|
Individuals (Nonresident Individuals/ Foreign Individuals) |
946700 |
0.37 |
|
|
Yedaguri Nikhila Reddy |
29500 |
0.01 |
|
|
Santhi Sree Ramanavarapu |
917200 |
0.36 |
|
|
Harsha Chigurupati |
0.00 |
||
|
Sub Total A2 |
946700 |
0.37 |
|
|
A=A1+A2 |
114070801 |
44.94 |
STATEMENT SHOWING
SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name
of the Shareholders |
No. of fully paid
up equity shares held |
Shareholding %
calculated as per |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
9933746 |
3.91 |
|
|
Foreign Portfolio
Investors |
26914558 |
10.60 |
|
|
Government Pension Fund Global |
6393908 |
2.52 |
|
|
Mondrianemergingmarkets Smallcapequityfundlp |
3491629 |
1.38 |
|
|
Financial Institutions/ Banks |
7567719 |
2.98 |
|
|
Life Insurance Corporation of India |
7000000 |
2.76 |
|
|
Any Other (Specify) |
139495 |
0.05 |
|
|
Sub Total B1 |
44555518 |
17.55 |
|
|
B2) Central Government/ State Government(S)/ President Of India |
0 |
0.00 |
|
|
B3) Non-Institutions |
0 |
0.00 |
|
|
Individual Share
Capital Upto INR 0.200 Million |
59290085 |
23.36 |
|
|
Individual Share
Capital In Excess of INR 0.200 Million |
11556945 |
4.55 |
|
|
Basava Sankara Rao Kolli |
3636360 |
1.43 |
|
|
Nbfcs Registered With RBI |
63893 |
0.03 |
|
|
Any Other (Specify) |
24300320 |
9.57 |
|
|
Trusts |
200200 |
0.08 |
|
|
Others |
1239221 |
0.49 |
|
|
Non-Resident Indian (NRI) |
4104461 |
1.62 |
|
|
Clearing Members |
572679 |
0.23 |
|
|
Bodies Corporate |
18015326 |
7.10 |
|
|
IEPF |
168433 |
0.07 |
|
|
Triton Securities
LLP |
6829270 |
2.69 |
|
|
Sub Total B3 |
95211243 |
37.51 |
|
|
B=B1+B2+B3 |
139766761 |
55.06 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing and selling of
Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation
intermediates (PFIs) and Finished Dosages (FDs). (Registered Activity) |
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|
|
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|
Products / Services
: |
|
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|
|
|
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|
Brand Names : |
Not Divulged |
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|
|
|
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|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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No. of Employees : |
2325 (Approximately) Note: As per latest annual report there is an increase in the number of employees over past years and current number
employees are 2325. |
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|
Bankers : |
· Bank of Baroda ·
State Bank of India |
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Facilities : |
SHORT TERM BORROWINGS The Secured Loans repayable from Banks are secured by paripassu first charge on the current assets and a paripassu second charge on the fixed assets of the company.
|
|
Statutory Auditors
: |
|
|
Name : |
Kumar and Giri Chartered Accountants |
|
Address : |
8-2-686/B/1,
12 Vyjayanthi, Flat # 3 & 4, 2nd Floor, Road # 12, Banjara Hills,
Hyderabad – 500 034, Telangana, India |
|
|
|
|
Internal Auditors: |
|
|
Name : |
Dhanunjaya and Haranath Chartered Accountants |
|
Address : |
302, Wings, 8-3-960/6/2, Srinagar Colony, Hyderabad - 500 073, Telangana, India |
|
|
|
|
Secretarial
Auditors: |
|
|
Name : |
Saurabh Poddar and Associates Chartered Accountants |
|
Address : |
4-1-6/A/1, 2nd Floor, AB Chambers, Street No:- 6, Tilak Road, ABIDS, Hyderabad - 500 001, Telangana, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Company: |
|
|
|
|
|
Joint Venture: |
[CIN No: U24233TG2011PTC07627] |
|
|
|
|
Enterprises over
which key management personnel or their relatives exercise significant
influence: |
|
CAPITAL STRUCTURE
AS ON 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
505000000 |
Equity Shares |
INR 1/- each |
INR 505.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
253837562 |
Equity Shares |
INR 1/- each |
INR 253.837 Million |
|
|
|
|
|
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
505000000 |
Equity Shares |
INR 1/- each |
INR 505.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
228702770 |
Equity Shares |
INR 1/- each |
INR 228.703 Million |
|
|
|
|
|
Reconciliation of
number of shares outstanding and amount at the beginning and at the end of the
year
|
Equity Shares |
Number of Shares |
Amount |
|
Number of shares at the beginning of the year |
|
|
|
Add: Shares issued on exercise of employee stock option |
216711770 |
216.712 |
|
Shares outstanding at the end of the year |
590000 |
0.590 |
|
Add: Shares issued against warrants |
11401000 |
11.401 |
|
Number of shares at the end of the year |
228702770 |
228.703 |
Terms/rights attached
to equity shares
The Company has only one class of equity shares having a par value of INR 1 per share. Each holder of equity shares is entitled to one vote per share. The Company declares dividends in Indian rupees. During the year ended March 31, 2017, the amount of interim dividend per share distributed along with final dividend per share recommended by the board to equity shareholders was INR 0.90 (March 31, 2016: INR 0.65 and April 01, 2015:
INR 0.50). In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders
Details of
shareholders holding more than 5% equity shares in the Company
|
Particular |
Number
of Shares |
% holding |
|
Krishna Prasad Chigurupati |
7,16,79,610 |
31.34 |
|
Tyche Technologies Private Limited |
2,68,69,000 |
11.75 |
|
Investco Managment LLC |
-- |
-- |
|
Ridgeback Capital Asia Limited |
-- |
-- |
As per of the Company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares
LISTING DETAILS:
|
Subject Stock
Code : |
BSE
: 532482 NSE
: GRANULES ISIN : INE101D01020 |
|
|
|
|
Stock Exchange Place : |
· BSE Limited (Bombay Stock Exchange Limited) Address: Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001, Maharashtra, India · National Stock Exchange of India Limited (NSE) Address: Exchange Plaza, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051, Maharashtra, India |
|
|
|
|
Listed Date : |
20.06.2005 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
228.703 |
216.712 |
204.252 |
|
(b) Reserves &
Surplus |
8614.858 |
6141.307 |
4049.841 |
|
(c) Money received
against share warrants |
0.000 |
271.629 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
8843.561 |
6629.648 |
4254.093 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1242.424 |
1842.127 |
2426.740 |
|
(b) Deferred tax
liabilities (Net) |
640.269 |
611.592 |
532.810 |
|
(c) Other long term
liabilities |
72.495 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
52.823 |
39.698 |
|
Total Non-current
Liabilities (3) |
1955.188 |
2506.542 |
2999.248 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
4738.330 |
1474.817 |
1148.695 |
|
(b) Trade payables |
2098.967 |
1771.529 |
1832.355 |
|
(c) Other current
liabilities |
913.642 |
788.647 |
698.367 |
|
(d) Short-term provisions |
0.000 |
68.012 |
134.493 |
|
Total Current Liabilities
(4) |
7750.939 |
4103.005 |
3813.910 |
|
|
|
|
|
|
TOTAL |
18549.688 |
13239.195 |
11067.251 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5305.737 |
4404.656 |
4352.754 |
|
(ii) Intangible Assets |
750.061 |
828.225 |
868.928 |
|
(iii) Capital
work-in-progress |
1323.089 |
352.777 |
184.997 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
751.150 |
885.064 |
724.719 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1798.529 |
767.835 |
186.965 |
|
(e) Other Non-current
assets |
286.141 |
6.931 |
18.360 |
|
Total Non-Current Assets |
10214.707 |
7245.488 |
6336.723 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2375.877 |
2101.278 |
1793.962 |
|
(c) Trade receivables |
4683.127 |
1987.904 |
1940.912 |
|
(d) Cash and cash
equivalents |
393.648 |
1107.006 |
522.309 |
|
(e) Short-term loans and
advances |
13.921 |
731.918 |
443.671 |
|
(f) Other current assets |
868.408 |
65.601 |
29.674 |
|
Total Current Assets |
8334.981 |
5993.707 |
4730.528 |
|
|
|
|
|
|
TOTAL |
18549.688 |
13239.195 |
11067.251 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
13494.809 |
13284.938 |
12148.725 |
|
|
Other Income |
145.202 |
62.870 |
14.020 |
|
|
TOTAL |
13640.011 |
13347.808 |
12162.745 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
6707.783 |
7514.513 |
7177.712 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(122.003) |
(218.020) |
(105.618) |
|
|
Employees benefits
expense |
1258.100 |
1052.670 |
892.321 |
|
|
Other expenses |
2692.942 |
2241.387 |
2070.855 |
|
|
TOTAL |
10536.822 |
10590.550 |
10035.270 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION
|
3103.189 |
2757.258 |
2127.475 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
321.641 |
366.634 |
309.294 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
2781.548 |
2390.624 |
1818.181 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
713.516 |
582.471 |
495.587 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
2068.032 |
1808.153 |
1322.594 |
|
|
|
|
|
|
|
Less |
TAX |
639.765 |
598.509 |
370.330 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1428.267 |
1209.644 |
952.264 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
9926.372 |
10118.969 |
9207.257 |
|
|
TOTAL EARNINGS |
9926.372 |
10118.969 |
9207.257 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
3884.114 |
4090.609 |
4315.805 |
|
|
Components and Stores
parts |
233.069 |
37.409 |
30.806 |
|
|
Capital Goods |
31.577 |
67.238 |
132.867 |
|
|
TOTAL IMPORTS |
4148.760 |
4195.256 |
4479.478 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
|
|
|
|
|
|
Basic
|
6.53 |
5.85 |
4.67 |
|
|
Diluted
|
6.75 |
5.74 |
4.62 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
584.266 |
643.277 |
540.127 |
|
Cash generated from operations |
2529.584 |
1966.836 |
1662.196 |
|
Net cash flow from (used in) operations |
1934.257 |
1490.907 |
1349.759 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st
Quarter |
2st
Quarter |
3st
Quarter |
|
Net sales |
3955.840 |
3735.280 |
4126.470 |
|
Total Expenditure |
3199.850 |
3011.530 |
3384.350 |
|
PBIDT (Excluding Other Income) |
755.990 |
723.750 |
742.120 |
|
Other income |
30.010 |
101.100 |
41.160 |
|
Operating Profit |
786.000 |
824.850 |
783.280 |
|
Interest |
81.820 |
103.990 |
81.630 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
704.180 |
720.860 |
701.650 |
|
Depreciation |
175.24 |
185.150 |
195.320 |
|
Profit Before Tax |
528.94 |
535.710 |
506.330 |
|
Tax |
173.860 |
179.340 |
167.980 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit after tax |
355.080 |
356.360 |
338.350 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
355.080 |
356.360 |
338.350 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
126.67 |
54.62 |
58.31 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.88 |
6.68 |
6.26 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
114.21 |
86.05 |
93.18 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.31 |
1.31 |
1.19 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.42 |
0.49 |
0.39 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.52 |
0.50 |
0.61 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.74 |
0.60 |
0.97 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.88 |
0.62 |
0.90 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.83 |
0.84 |
1.27 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
9.65 |
7.52 |
6.88 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
10.58 |
9.11 |
7.84 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
7.70 |
9.14 |
8.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
16.15 |
18.25 |
22.38 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.08 |
1.46 |
1.24 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.77 |
0.95 |
0.77 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.48 |
0.50 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
28.71 |
18.27 |
20.15 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.08 |
1.46 |
1.24 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 1/- |
|
Market Value |
INR 107.15/- |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
204.252 |
216.712 |
228.703 |
|
Reserves & Surplus |
4049.841 |
6141.307 |
8614.858 |
|
Net worth |
4254.093 |
6358.019 |
8843.561 |
|
|
|
|
|
|
long-term borrowings |
2426.740 |
1842.127 |
1242.424 |
|
Short term borrowings |
1148.695 |
1474.817 |
4738.330 |
|
Current Maturities of
Long term debt |
540.127 |
643.277 |
584.266 |
|
Total borrowings |
4115.562 |
3960.221 |
6565.020 |
|
Debt/Equity ratio |
0.967 |
0.623 |
0.742 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
12148.725 |
13284.938 |
13494.809 |
|
|
|
9.353 |
1.580 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
12148.725 |
13284.938 |
13494.809 |
|
Profit/(Loss) |
952.264 |
1209.644 |
1428.267 |
|
|
7.84% |
9.11% |
10.58% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
228.703 |
216.712 |
204.252 |
|
(b) Reserves &
Surplus |
8807.251 |
6172.046 |
4107.383 |
|
(c) Money received
against share warrants |
0.000 |
271.629 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
9035.954 |
6660.387 |
4311.635 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1242.423 |
2464.308 |
3032.108 |
|
(b) Deferred tax
liabilities (Net) |
564.986 |
580.326 |
492.797 |
|
(c) Other long term
liabilities |
72.495 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
52.890 |
40.295 |
|
Total Non-current
Liabilities (3) |
1879.904 |
3097.524 |
3565.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
4738.330 |
1576.905 |
1249.699 |
|
(b) Trade payables |
2159.756 |
1791.424 |
1876.253 |
|
(c) Other current
liabilities |
950.310 |
1333.803 |
889.835 |
|
(d) Short-term provisions |
0.000 |
68.667 |
134.493 |
|
Total Current Liabilities
(4) |
7848.396 |
4770.799 |
4150.280 |
|
|
|
|
|
|
TOTAL |
18764.254 |
14528.710 |
12027.115 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5687.254 |
5841.529 |
5280.438 |
|
(ii) Intangible Assets |
756.130 |
839.663 |
885.073 |
|
(iii) Capital
work-in-progress |
2605.324 |
765.808 |
620.337 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1082.294 |
1.914 |
1.914 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
149.948 |
207.600 |
|
(e) Other Non-current
assets |
282.661 |
14.062 |
28.166 |
|
Total Non-Current Assets |
10413.663 |
7612.924 |
7023.528 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2760.734 |
3070.528 |
2245.166 |
|
(c) Trade receivables |
4177.002 |
1525.572 |
1369.075 |
|
(d) Cash and cash
equivalents |
497.993 |
1418.836 |
653.066 |
|
(e) Short-term loans and
advances |
15.882 |
798.349 |
454.354 |
|
(f) Other current assets |
898.980 |
102.501 |
281.926 |
|
Total Current Assets |
8350.591 |
6915.786 |
5003.587 |
|
|
|
|
|
|
TOTAL |
18764.254 |
14528.710 |
12027.115 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
14105.653 |
14311.843 |
12936.814 |
|
|
Other Income |
99.253 |
60.256 |
35.840 |
|
|
TOTAL |
14204.906 |
14372.099 |
12972.654 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
6799.646 |
8298.959 |
7694.280 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(3.328) |
(714.179) |
(224.768) |
|
|
Employees benefits
expense |
1401.897 |
1253.311 |
1069.578 |
|
|
share in profit /loss |
(247.261) |
0.000 |
0.000 |
|
|
Other expenses |
2919.058 |
2690.064 |
2303.992 |
|
|
TOTAL |
10870.012 |
11528.155 |
10843.082 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
3334.894 |
2843.944 |
2129.572 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
322.563 |
399.194 |
323.460 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
3012.331 |
2444.750 |
1806.112 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
715.127 |
643.299 |
526.510 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
2297.204 |
1801.451 |
1279.602 |
|
|
|
|
|
|
|
Less |
TAX |
652.013 |
616.775 |
370.524 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1645.191 |
1184.676 |
909.078 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
Basic |
7.52 |
5.73 |
4.46 |
|
|
Diluted |
7.46 |
5.62 |
4.41 |
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 |
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 |
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 |
Corporate Information
The company is a public domiciled in India and incorporated under the Companies Act, 1956. Its shares are listed on two Stock exchanges in India. The company is engaged in the manufacturing and selling of Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation intermediates (PFIs) and Finished Dosages (FDs). The company caters to both domestic and international markets.
Operational Review
The Company achieved several operational milestones during the year. They are on track regarding the completion of them new API manufacturing facility at Bonthapally in Hyderabad, which would result in expanded capacity for p aracetamol, Metformin, and Guaifenesin. During the same time, they also expect to commercialise an additional 6,000 Tp A PFI capacity at Gagillapur, the construction of which is going on as per them internal targets
Outlook
As an optimist, I would say that the planned execution of them strategies has yet to materialise into tangible results, but they are seeing this as a strategic step towards sustainability. They injected nearly INR 3,457 mn during the year in capex and expect to see them efforts bear fruit in the coming years. The core strengths of the Company are tested during challenging times. Keeping this in mind, at Granules, they have geared up with a long-term sustainability model backed by initiatives that will enable us to sustain them growth momentum in the years to come. This would help us enhance them revenues, strengthen them profit margins and create attractive value for all them stakeholders;
Management Discussion
and Analysis
Global Pharmaceutical
Industry overview
World pharmaceutical industry is advancing steadily. The advent of new technologies and advancements in science has allotheyd the research-based pharmaceutical companies to enter an exciting new era of product development. On top of it, the aging populations, chronic and lifestyle related diseases, and emerging-market expansion are also expected to spur world pharmaceutical sector. A dynamically changing macro economy, regulatory and business landscape requires that pharmaceutical companies adopt new technologies, focus on research & development and work on competitive pricing models. Increasing pressure against US drug pricing, a theyak global recovery, significant currency fluctuation for major global currencies against US dollar, the uncertainties thrown up by Brexit and industry consolidations have made it evident that the global pharmaceutical industry has to undergo transformation. The big global players have ttheyaked their strategies in order to cope better with the ever-changing regulatory and risk environments. The rapidly changing business environment compounded by a fast-evolving digital era presents new challenges for pharmaceutical stakeholders. Hotheyver, new discoveries, changing strategies in terms of more focus on customer engagement, rising demand in the emerging countries and ageing population are expected to drive demand
Market Outlook
In the midst of the changing conditions, the global pharmaceutical industry performed fairly theyll in 2016 with annual spending reaching INR 1.10 trillion. The major drivers of this growth have been the new wave of innovative therapies approved by regulators, ongoing transformation of the R&D model and an increased focus on patient theyll-being Looking ahead, experts expect the industry to reach US$ 1.5 trillion by 2021, growing at a CAGR of around (4-7)% only slightly slotheyr than the 5.9% growth over the past five years. It is important to note that, the spending growth has moderated from 2014-15 level, which was propelled by introduction of new medicines in hepatitis and cancer therapies. The next five years will see the market growing at a more consistent rate but with much more attention on spending and specifically pricing.
The continued growth of global medicine spending over the past decade and the next five years will more than double the amount spent on medicines over that fifteen year period. Over that timeframe, the drivers of medicine spending and growth have shifted from the blockbuster drugs of the late 1990’s, to the volume-driven growth in pharmerging markets and the demand driven-situation in developed markets, post patent cliff.It is also noteworthy to consider that the orphan drug market is expected to reach US$ 217 billion by 2022, almost doubling its size from 2016, thus indicating that R&D programmers are increasingly being oriented towards addressing unmet need and enhancing last-mile access.
Subsidiaries, Joint
Ventures and Associate Companies
During the year, the Honb’le High Cthemt of Judicature at Hyderabad for the state of Telangana and for the state of Andhra Pradesh by an order dated 1st September 2016 made in Company Petition no. 231 of 2016 filed by M/s. GIL Lifesciences Private Limited a wholly owned subsidiary of the Company sanctioned Scheme ofamalgamation of M/s. GIL Lifesciences Private Ltd. with the Company with effect from 1st April, 2016 being the appointed date fixed in the said scheme. Consequent to the said order, M/s. GIL Lifesciences Private Ltd. was amalgamated with the Company on 26th October 2016, being the effective date. By virtue of the aforesaid amalgamation, M/s GIL Lifesciences Private Ltd. ceased to be the subsidiary of the company and stood dissolved pursuant to the scheme of amalgamation sanctioned by the Honb’le High Cthemt.
Granules USA, Inc., a wholly-owned foreign subsidiary of the Company, caters to the requirements of customers in the U.S market. The Share Capital of the Company as on March 31, 2017 is INR 11.631 Million. During the FY 2016-17, the Company achieved a turnover of INR 3955.816 Million against the turnover of INR 2982.882 Million for FY 2015-16 and the profit after tax is INR 34.621 Million against INR 16.867 Million for FY 2015-1
Granules Pharmaceuticals. Inc. (GP Inc.), a wholly-owned
foreign subsidiary of the Company located in Virginia, USA focuses in formulation
R&D. The Share Capital of the Company as on March 31, 2017 is INR 122.500 Million. One ANDA was filed from this facility in March
2017 and another ANDA was filed in April 2017. These are first set
product filling from this facility towards building a niche portfolio for the
US market. It also received license from the Drug Enforcement Agency of the
United States which will enable to store and develop narcotics products. Granules
Pharmaceuticals. Inc. has entered into an agreement during the year under
review with USpharma Limited to acquire 12.5% of its equity. This investment
will also enable us to participate in the product selection and have the first
right of refusal to market the select products which are under development by
them. USpharma Limited in collaboration with its manufacturing partners have
submitted 5 and as with Para IV and Para III certifications, out of which 4
ANDAs have already been out-licensed to GP Inc. exclusively for the marketing
and distribution of the products in the United States after final approval from
US FDA, pursuant to the agreement entered with it for product-in-licensing
Granules Europe Limited is a wholly owned foreign subsidiary set up in UK for focusing on marketing to European customers. The Policy for determining material subsidiaries as approved by the Board may be accessed on the Company’s theybsite at the link: www.granulesindia.com
Joint Venture
Companies:
The developments in business operations / performance of Joint Venture Companies consolidated with the Company are as below:
Granules-Biocause Pharmaceutical Co. Limited The Share Capital of the Company as on March 31, 2017 is INR
363.806 Million. The Company achieved a turnover of INR 2199.983 Million during the year as against turnover of INR 170083.200 Million in the previous year. Profit after tax for the year is INR 245.856 Million as against INR 64.555 Million during the previous year of which Granules India Limited reports 50% share in profit from Joint Ventures. Hotheyver, previous year figures are not comparable as previous year figures are for nine months period from April to December 2015 whereas current year figures are from January to December 2016.
UNSECURED LOAN:
|
PARTICULARS |
31.03.2017 INR
In Million |
31.03.2016 INR
In Million |
|
LONG TERM
BORROWINGS |
|
|
|
Other loans and advances |
3.425 |
5.548 |
|
Total |
3.425 |
5.548 |
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER NINE MONTHS ENDED 31 DECEMBER 2017
(INR In Million)
|
Particulars |
Quarter ended |
Nine months ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
||
|
INCOME FROM OPERATIONS |
|
|
|
|
Net Sales |
4126.465 |
3735.275 |
11805.361 |
|
Other Operating Income |
41.163 |
101.095 |
181.745 |
|
Total
Income from Operations |
4167.628 |
3836.370 |
11987.106 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
2183.253 |
2051.060 |
6137.315 |
|
Changes in inventories of finished goods and
work-in-progress |
20.861 |
-115.658 |
29.401 |
|
Excise Duty |
-- |
-- |
72.260 |
|
Employee benefits expense |
380.389 |
374.339 |
1097.737 |
|
Finance Costs |
81.630 |
103.986 |
267.439 |
|
Depreciation and Amortization expenses |
195.323 |
185.146 |
555.710 |
|
Other Expenditure |
799.842 |
701.788 |
2256.267 |
|
Total
Expenses |
3661.298 |
3300.661 |
10416.129 |
|
Profit/(Loss) from Exceptional items |
506.330 |
535.709 |
1570.977 |
|
Exceptional items |
-- |
-- |
-- |
|
Profit / (Loss) before Tax |
506.330 |
535.709 |
1570.977 |
|
Tax Expense |
338.351 |
356.363 |
1049.790 |
|
Profit
/ (Loss) after Tax |
338.351 |
356.363 |
1049.790 |
|
Share
in profit joint venture |
-- |
-- |
-- |
|
|
|
|
|
|
Other
Compressive income |
-- |
-- |
-- |
|
Item
that will be reclassified |
|
|
|
|
|
|
|
|
|
Paid-up Equity Share Capital (Face value INR 10/- per
share) |
253.818 |
253.768 |
253.818 |
|
Reserves (excluding Revaluation Reserve) |
|
|
|
|
Earnings per Share (EPS) - INR |
1.33 |
1.55 |
4.42 |
NOTES:
The company adopted Indian Accounting Standards ("Ind AS") from April 01, 2016 and accordingly, these results have been prepared in accordance with [lie recognition and measurement principles laid down under Ind AS 34'), "interim Financial Report in;;" prescribed under section 133 of Companies Ad, 2013 read with relevant rules issued thereunder.
2. The above unaudited financial results for the quarter and nine months ended
December 31, 2017 have been reviewed by the Audit Committee of the Board on
February 07, 2018 and approved by the Board of Directors at their meeting held
on February 08, 2018.
3. The Auditors of the Company have carried out Limited Review of the financial
results for the quarter and nine months ended December 31, 2017.
4. Post implementation of Goods and Service Tax ("GST") with effect
from 1 July 2017, revenue from operations is disclosed net of GST. For the
periods prior to July 01, 2017, the excise duly amount was recorded as pari of
revenue with a corresponding amount recorded in cost of revenue. Accordingly,
revenue from operations for the quarter and nine months ended December 31, 2017
are not comparable with those of the previous period presented.
5. The Company operates only in the segment of Pharmaceuticals.
6. During the quarter, the Company has allotted 50,000 equity shares of INR.
1/- each, fully paid upon exercise of options by employees in accordance with
the Company's Employee Stock Option Scheme(s),
7. The Board of Directors a! their meeting held on February 08, 2018 has
declared third interim dividend of 25 paise per equity share of INR. 1/-each.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G60295698 |
100131530 |
INTERNATIONAL FINANCE CORPORATION |
10/10/2017 |
- |
- |
3150000000.0 |
2121 PENNSYLVANIA AVENUE NWW, ASHINGTON DC, WASHINGTON DCNA20433US |
|
2 |
G60513330 |
100131846 |
DEG DEUTSCHE INVESTITIONS - UND ENTWICKLUNGSGESELLSCHAFT MBH |
10/10/2017 |
- |
- |
1400000000.0 |
KAMMERGASSE 22, 50676 COLOGNE, GERMANY GERMANYGERMANYNA50676DE |
|
3 |
B63236624 |
10389717 |
INTERNATIONAL FINANCE CORPORATION |
30/11/2012 |
- |
- |
527500000.0 |
2121 PENNSYLVANIA AVENUEN.W., WASHINGTON DCWASHINGTON DCNA20433, US |
|
4 |
B63236012 |
10389714 |
DEG - DEUTSCHE INVESTITIONS- UND ENTWICKLUNGSGESELLSCHAFT MBH |
30/11/2012 |
- |
- |
527500000.0 |
KAMMERGASSE 22COLOGNENA, 50676DE |
|
5 |
G81991689 |
90139379 |
STATE BANK OF INDIA |
13/11/2002 |
14/03/2018 |
- |
6960000000.0 |
INDUSTRIAL FINANCE BRANCH, 1ST FLOORNAVABHARATH CHAMBERS, RAJ BHAVAN ROAD, SOMAJIGUDA, HYDERABAD – 500082, TELANGANA, INDIA |
|
6 |
Y10223944 |
90131139 |
A.P.STATE FINANCIAL CORPORATION |
11/01/1995 |
- |
- |
861250.0 |
SANGAREDDY BRANCHSANGAREDDYAPIN |
|
7 |
G62258462 |
10476418 |
ANDHRA BANK |
08/02/2014 |
03/12/2015 |
16/11/2017 |
1645000000.0 |
SOMAJIGUDA BRANCH, 6-3-352/2, ASTRAL HEIGHTS,ROAD NO. 1, BANJARA HILLS, HYDERABAD – 500082, TELANGANA, INDIA |
|
8 |
G50748656 |
10082831 |
INTERNATIONAL FINANCE COPORATION |
22/12/2007 |
- |
28/07/2017 |
360000000.0 |
IFC'S SOUTH ASIA DEPARTMENT, GATE NO.3, NITI MAG,50-M, SHANTHIPATH, CHANAKYAPURI, NEW DELHI – 110021, INDIA |
|
9 |
G50747195 |
10319592 |
INTERNATIONAL FINANCE CORPORATION |
22/11/2011 |
- |
28/07/2017 |
49150000.0 |
2121 PENNSYLVANIA AVENUEN.W., WASHINGTON DC, 20433WASHINGTON DCNA110021US |
|
10 |
C63912398 |
10540765 |
ANDHRA BANK |
30/12/2014 |
- |
05/09/2015 |
200000000.0 |
SOMAJIGUDA BRANCH, 6-3-352/2, ASTRAL HEIGHTS,ROAD NO. 1, BANJARA HILLS, HYDERABAD – 500082, TELANGANA, INDIA |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
|
Corporate guarantees for loans taken by Joint Venture** |
1246.457 |
|
Claims arising from disputes not acknowledged as debts - indirect taxes (excise duty and service tax) |
32.372 |
|
Claims arising from disputes not acknowledged as debt |
6.893 |
|
Claims against the Company not acknowledged as debt |
4.347 |
|
Particulars |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
a) Claims against the company not acknowledged as debt |
|
|
|
Income Tax |
12.283 |
118.243 |
|
Excise |
19.955 |
22.676 |
|
Service Tax |
9.541 |
9.541 |
|
Customs |
4.347 |
4.347 |
|
b) Bills discounted with banks |
2453.725 |
2156.184 |
|
c) Corporate Guarantee for JV loan |
1357.110 |
1209.600 |
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Plant & Machinery
· Computers
· Office Equipment
· R&D Equipment
· Furniture & Fixtures
· Vehicles
· Technical Know How
·
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
|
INR |
|
US Dollar |
1 |
INR 65.44 |
|
|
1 |
INR 93.27 |
|
Euro |
1 |
INR 80.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
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|
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Analysis Done by
: |
PRI |
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Report Prepared
by : |
NKTS |
SCORE FACTORS
|
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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.