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MIRA INFORM REPORT
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Report No. : |
503953 |
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Report Date : |
18.04.2018 |
IDENTIFICATION DETAILS
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Name : |
BHARAT SERUMS AND VACCINES LIMITED |
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Formerly Known
As : |
GAUTAM LABORATORIES PRIVATE LIMITED |
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Registered Office
: |
17th Floor, Hoechst House, Nariman Point, Mumbai – 400021,
Maharashtra |
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Tel. No.: |
91-22-66560900 / 66560980 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
29.04.1971 |
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Com. Reg. No.: |
11-015134 |
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Capital
Investment / Paid-up Capital : |
INR 103.688 Million |
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CIN No.: [Company Identification
No.] |
U24230MH1971PLC015134 |
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IEC No.: [Import-Export Code No.] |
0394068467 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACB2431M |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is engaged in the business of research, development, manufacturing, marketing and sales of biological and pharmaceutical products in India and overseas market. (Registered Activity) |
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No. of Employees
: |
1508 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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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 9860000 |
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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 was incorporated in the year 1971 and is a biotechnology based pharmaceutical company engaged in research and manufacture of life saving drug. The company manufactures and markets specialized biological, pharmaceutical and biotechnology products. Its operations are broadly classified under five major segments: plasma derivatives, monoclonal, hormones, equine antitoxins and others segments including gynecological, antifungal, anesthetics, cardiovascular and diagnostic products. As per the financial record of 2017, the company has earned a fair growth of 10.72% in its revenue as compared to the previous year’s revenue and has achieved an average profitability margin of 6.48%. Rating takes into consideration the company’s favourable Earnings Per Share (EPS) of INR 23.08 as against its Face Value (FV) of INR 5. The company possesses strong financial profile marked by sound net worth base along with low debt balance sheet profile and satisfactory liquidity position. Rating continue to take into account rich experience of the promoters in the pharmaceutical industry, niche and well-diversified product portfolio and consistent Research and Development (R&D) expenses towards product development activities. However, the rating strengths are tempered by support to weak overseas subsidiaries/associates along with volatility in raw material prices owing to limited availability, dependence on imports and stringent regulatory norms. As per the press release, Bharat Serum and Vaccines Limited is planning to raise INR 20,000 million by offloading about 30% stake in an initial public offering of share. The planned flotation would value the company at about INR 66,670 million or more than $1 billion if investor appetite matches price expectations. The private equity investor could offload a major part of its holding through the IPO. The company is targeting the first quarter of 2018-19 for the IPO. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered good for normal 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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long Term Loans=A+ |
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Rating Explanation |
Adequate degree of safety and low credit risk. |
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Date |
23.06.2017 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Loans=A1 |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
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Date |
23.06.2017 |
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 18.04.2018
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
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Name : |
Not Divulged |
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Designation : |
Office Executive |
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Contact No.: |
91-22-66560900/ 45043456 |
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Date : |
16.04.2018 |
[Mobile No.: 91-9819951503 (Mr.
Rajaram Bagane) – Continuously Ringing]
LOCATIONS
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Registered Office : |
17th Floor, Hoechst House, Nariman Point, Mumbai – 400021,
Maharashtra, India |
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Tel. No.: |
91-22-66560900/ 66560980/45043000 |
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Mobile No.: |
91-9819951503 (Mr. Rajaram Bagane) |
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Fax No.: |
91-22-66560901/ 66560903 |
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E-Mail : |
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Website : |
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Area: |
8000 Sq. Ft. |
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Location: |
Owned |
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Locality: |
Commercial |
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Corporate Office/ R & D Centre 1: |
Airoli Office, 3rd Floor, Liberty Tower, Plot No - K-10, Behind Reliable Plaza, Kalwa Industrial Estate, Airoli, Navi Mumbai – 400708, Maharashtra, India |
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Tel. No.: |
91-22-61383456/ 45043000 |
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Fax No.: |
91-22-61383400/ 45043200 |
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E-Mail : |
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Warehouse : |
Building No. H-4, Premises No.1, Survey No.15, Sonale Village, Mumbai – Nasik, Highway, Taluka-Bhiwandi, District : Thane – 421302, Maharashtra, India |
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Factory 1 : |
Thane Plant Plot No. A-371-372, Road 27, Wagle Industrial Estate, Thane
– 400604, |
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Tel. No.: |
91-22-25822181/ 25821399/ 67977696 |
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Fax No.: |
91-22-25823640 |
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E-Mail : |
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Factory 2 : |
Ambernath Plant Plot No. K-27, Anand Nagar, Additional M.I.D.C., Ambernath (East), Maharashtra, India |
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Tel. No.: |
91-251-2621645 |
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Fax No.: |
91-251-2621089 |
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E-Mail : |
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Khoni Animal Farm : |
At Post Khoni, Ambernath M.I.D.C. Road, Khoni-Taloja Link Road, Kalyan, Thane – 421308, Maharashtra, India |
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Tel. No.: |
91-251-2395107 |
DIRECTORS
As on 31.03.2017
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Name : |
Dr. Gautam Vinod Daftary |
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Designation : |
Managing director |
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Address : |
11/12th Floor, Mittal Grandeur, Khatau Road, Near C.A. Institute, Cuffe Parade, Colab A, Mumbai – 400005, Maharashtra, India |
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Date of Birth/Age : |
03.10.1959 |
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Qualification : |
Doctor |
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Date of Appointment : |
01.10.2011 |
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PAN No.: |
ABPPD0878N |
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DIN No.: |
00009326 |
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Other
Directorship :
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Name : |
Mr. Bharat Vinod Daftary |
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Designation : |
Managing director |
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Address : |
9/10th Floor, Mittal Grandeur, Khatau Road, Near C.A. Institute, Cuffe Parade, Colab A, Mumbai – 400005, Maharashtra, India |
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Date of Birth/Age : |
12.01.1956 |
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Qualification : |
Graduate |
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Date of Appointment : |
05.05.1992 |
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PAN No.: |
ABPPD0877D |
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DIN No.: |
00011518 |
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Other
Directorship :
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Name : |
Mr. Girish Bakre |
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Designation : |
Whole-time Director |
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Address : |
82, Sarnath, 59-B, B. Desai Road, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
06.09.1960 |
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Date of Appointment : |
29.09.2017 |
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DIN No.: |
00010760 |
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Other
Directorship :
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Name : |
Mr. Siddharth Bharat Daftary |
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Designation : |
Whole-time director |
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Address : |
114, Sneh Sadan, Churchgate, Reclamation, Mumbai – 400020,
Maharashtra, India |
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Date of Birth/Age : |
28.12.1983 |
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Qualification : |
MSC |
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Date of Appointment : |
01.10.2011 |
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PAN No.: |
AFKPD1429F |
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DIN No.: |
02897197 |
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Other
Directorship :
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Name : |
Shahzaad Siraj Dalal |
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Designation : |
Director |
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Address : |
5 Floor 14 and 15 Plot 406, Aurum Platz, K M Munshi Marg, Bharatiya Vidya Bhavan, Grant Road, Mumbai – 400007, Maharashtra, India |
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Date of Appointment : |
29.09.2017 |
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DIN No.: |
00011375 |
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Other
Directorship :
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Name : |
Mr. Suketu Viren Shah |
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Designation : |
Director |
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Address : |
A/52, Darshan Apartments, Mt. Pleasant Road, Malabar Hill, Mumbai –
400006, Maharashtra, India |
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Date of Birth/Age : |
04.12.1954 |
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Qualification : |
MBA from Harvard Business School |
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Date of Appointment : |
16.09.2010 |
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DIN No.: |
00033407 |
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Other
Directorship :
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Name : |
Suresh Lal Goklaney |
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Designation : |
Director |
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Address : |
2, Sital Sagar Building, Sital Baug, 64, Walkeshwar Road, Mumbai -
400006, Maharashtra, India |
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Date of Appointment : |
29.09.2017 |
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DIN No.: |
00041048 |
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Other
Directorship :
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Name : |
Mr. Ajeet Singh Karan |
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Designation : |
Director |
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Address : |
House No.36, Sector – 37, Arunvihar, Noida – 201303, Uttar Pradesh,
India |
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Date of Birth/Age : |
09.12.1965 |
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Qualification : |
IIM (Ahmedabad) |
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Date of Appointment : |
01.10.2014 |
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DIN No.: |
00183622 |
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Other
Directorship :
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Name : |
Mr. Nafeesa Adil Moloobhoy |
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Designation : |
Director |
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Address : |
Flat No. 5, 3rd Floor, Grosvenor House, Peddar Road, Mumbai – 400026,
Maharashtra, India |
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Date of Appointment : |
02.08.2016 |
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DIN No.: |
01052240 |
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Other
Directorship :
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Name : |
Mr. Sunny Sharma |
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Designation : |
Director |
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Address : |
10, West End Ave Apartment, 11 H, New York - 10023 |
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Date of Birth/Age : |
31.08.1974 |
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Qualification : |
M.B.B.S. MBA from IIM, Bangalore |
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Date of Appointment : |
16.09.2010 |
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DIN No.: |
02267273 |
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Other Directorship
:
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Name : |
Mr. Manu Prafull Daftary |
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Designation : |
Director |
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Address : |
8, Waybridge Lane, Wayland MA Wayland MA 01778 |
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Date of Birth/Age : |
21.06.1957 |
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Qualification : |
B.A. (Eco), BS, MBA (California), CFA |
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Date of Appointment : |
30.08.2013 |
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DIN No.: |
06425237 |
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Name : |
Mr. Nitin Jagannath Deshmukh |
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Designation : |
Nominee Director |
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Address : |
No.201, Ekta Heritage, 15th Road, Khar Opposite Prestige Court, Mumbai – 400052, Maharashtra, India |
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Date of Appointment : |
13.07.2017 |
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DIN No.: |
00060743 |
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Other
Directorship :
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KEY EXECUTIVES
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Name : |
Mr. Charudatta Sambhaji Samant |
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Designation : |
Company Secretary |
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Address : |
D-17, Ground Floor, Chandravadan CHS, Ganeshwadi,
Panchpakhadi, Thane (West), Thane – 400601, Maharashtra, India |
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Date of Appointment : |
04.08.2016 |
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PAN No.: |
BNWPS7866N |
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Name : |
Mr. Anil Madhusudan Damle |
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Designation : |
Chief Financial Officer |
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Address : |
B-108, Tulip, Maitri Complex, Pokharan Road No. 2, Majiwade Naka,
Thane – 400601, Maharashtra, India |
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Date of Appointment : |
01.05.2014 |
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PAN No.: |
ADFPD4224M |
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Name : |
Mr. Rajaram Bagane |
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Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
67.25 |
|
Promoters (Body corporate) |
4.95 |
|
Public/Other than promoters (Individual/Hindu Undivided Family-Indian) |
3.19 |
|
Public/Other than promoters (Foreign institutional investors) |
4.54 |
|
Public/Other than promoters (Venture capital) |
17.83 |
|
Public/Other than promoters (Body corporate) |
2.24 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of research, development, manufacturing, marketing and sales of biological and pharmaceutical products in India and overseas market. (Registered Activity) |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1508 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
BSR and Company LLP Chartered Accountants |
|
Address : |
KPMG House, Kamla Mills Compound, 448, Senapati Bapat Marg, Lower Parel, Mumbai - 400013, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFB6889R |
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Memberships : |
Not Available |
|
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|
|
Collaborators : |
Not Available |
|
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Subsidiary Companies : |
|
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|
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|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
|
CAPITAL STRUCTURE
As on 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19667800 |
Equity Shares |
INR 5/- each |
INR 98.339 Million |
|
200 |
Equity shares with differential voting right |
INR 5/- each |
INR 0.001 Million |
|
920000 |
0.01% Convertible redeemable preference share ('CRPS') |
INR 5/- each |
INR 4.600 Million |
|
742000 |
0.01% Convertible cumulative preference shares |
INR 5/- each |
INR 3.710 Million |
|
1350000 |
0.01% Convertible cumulative preference shares series - II ('CCPS-II') |
INR 5/- each |
INR 6.750 Million |
|
920000 |
0.01% Convertible cumulative preference shares series - III ('CCPS-III') |
INR 5/- each |
INR 4.600 Million |
|
400000 |
0.01% Convertible cumulative preference shares of series - IV ('CCPS-IV') |
INR 5/- each |
INR 2.000 Million |
|
|
Total |
|
INR 120.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18734913 |
Equity Shares |
INR 5/- each |
INR 93.675 Million |
|
100 |
Equity shares with differential voting right |
INR 5/- each |
INR 0.001 Million |
|
10 |
0.01% Convertible redeemable preference share ('CRPS') |
INR 5/- each |
INR 0.000 Million |
|
714119 |
0.01% Convertible cumulative preference shares |
INR 5/- each |
INR 3.570 Million |
|
919243 |
0.01% Convertible cumulative preference shares series - III ('CCPS-III') |
INR 5/- each |
INR 4.596 Million |
|
369135 |
0.01% Convertible cumulative preference shares of series - IV ('CCPS-IV') |
INR 5/- each |
INR 1.846 Million |
|
|
Total |
|
INR 103.688
Million |
FINANCIAL DATA
[all figures are
in 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 |
103.688 |
99.174 |
100.483 |
|
(b) Reserves and Surplus |
3347.702 |
2650.055 |
2441.065 |
|
(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) |
3451.390 |
2749.229 |
2541.548 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
273.700 |
470.078 |
645.040 |
|
(b) Deferred tax liabilities (Net) |
245.721 |
249.446 |
131.744 |
|
(c) Other long-term
liabilities |
182.933 |
148.719 |
159.364 |
|
(d) long-term
provisions |
123.949 |
65.936 |
45.671 |
|
Total Non-current
Liabilities (3) |
826.303 |
934.179 |
981.819 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
1101.465 |
1188.857 |
680.100 |
|
(b) Trade
payables |
306.277 |
292.944 |
319.743 |
|
(c) Other
current liabilities |
502.936 |
596.513 |
504.567 |
|
(d) Short-term
provisions |
154.269 |
144.970 |
130.934 |
|
Total Current
Liabilities (4) |
2064.947 |
2223.284 |
1635.344 |
|
|
|
|
|
|
TOTAL |
6342.640 |
5906.692 |
5158.711 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1143.775 |
1124.434 |
943.140 |
|
(ii)
Intangible Assets |
473.955 |
558.320 |
596.655 |
|
(iii) Tangible assets
capital work-in-progress |
285.205 |
155.345 |
298.741 |
|
(iv)
Intangible assets under development |
393.267 |
389.172 |
441.356 |
|
(b) Non-current Investments |
144.396 |
108.126 |
93.939 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
782.678 |
808.508 |
563.121 |
|
(e) Other
Non-current assets |
11.039 |
6.428 |
20.749 |
|
Total Non-Current
Assets |
3234.315 |
3150.333 |
2957.701 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1324.207 |
1235.842 |
888.502 |
|
(c) Trade
receivables |
1172.194 |
951.358 |
862.264 |
|
(d) Cash and
bank balances |
66.854 |
79.693 |
24.819 |
|
(e)
Short-term loans and advances |
398.893 |
345.044 |
290.581 |
|
(f) Other
current assets |
146.177 |
144.422 |
134.844 |
|
Total
Current Assets |
3108.325 |
2756.359 |
2201.010 |
|
|
|
|
|
|
TOTAL |
6342.640 |
5906.692 |
5158.711 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
6204.071 |
5603.632 |
4931.624 |
|
|
Other Income |
145.014 |
102.822 |
77.046 |
|
|
TOTAL |
6349.085 |
5706.454 |
5008.670 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1808.506 |
1388.582 |
1260.039 |
|
|
Purchases of
Stock-in-Trade |
577.915 |
727.693 |
438.730 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(111.155) |
(201.035) |
(73.307) |
|
|
Employee benefit expense |
1094.032 |
936.824 |
802.075 |
|
|
CSR expenditure |
4.543 |
0.000 |
0.000 |
|
|
Other expenses |
1881.076 |
1828.562 |
1653.757 |
|
|
Exceptional items before tax |
122.879 |
0.000 |
136.844 |
|
|
TOTAL |
5377.796 |
4680.626 |
4218.138 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
971.289 |
1025.828 |
790.532 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
182.708 |
181.458 |
178.869 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
788.581 |
844.370 |
611.663 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
297.988 |
285.493 |
241.424 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
490.593 |
558.877 |
370.239 |
|
|
|
|
|
|
|
Less |
TAX |
88.432 |
117.702 |
101.386 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
402.161 |
441.175 |
268.853 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1508.826 |
1358.346 |
1360.767 |
|
|
Other
Earning |
0.000 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
1508.826 |
1358.346 |
1360.767 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1082.962 |
1218.368 |
1097.904 |
|
|
Components and spare
parts |
58.201 |
65.208 |
51.354 |
|
|
Capital Goods |
13.635 |
42.853 |
89.419 |
|
|
TOTAL IMPORTS |
1154.798 |
1326.429 |
1238.677 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
23.08 |
24.86 |
15.42 |
|
|
Diluted |
19.55 |
21.49 |
13.38 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
162.163 |
177.726 |
195.969 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
740.764 |
575.313 |
523.809 |
|
Net cash flow from operating activity |
650.077 |
437.304 |
415.284 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
68.96 |
61.97 |
63.82 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
5.29 |
5.89 |
5.72 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
46.84 |
50.52 |
68.70 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.73 |
0.83 |
0.89 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.42 |
0.46 |
0.35 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.39 |
0.49 |
0.48 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.45 |
0.67 |
0.60 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.60 |
0.81 |
0.64 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.67 |
0.81 |
0.90 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.32 |
5.65 |
4.42 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
6.48 |
7.87 |
5.45 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.34 |
7.47 |
5.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
11.65 |
16.05 |
10.58 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.51 |
1.24 |
1.35 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.86 |
0.68 |
0.80 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.54 |
0.47 |
0.49 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
14.83 |
18.52 |
15.14 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.51 |
1.24 |
1.35 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in 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 |
100.483 |
99.174 |
103.688 |
|
Reserves & Surplus |
2441.065 |
2650.055 |
3347.702 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2541.548 |
2749.229 |
3451.390 |
|
|
|
|
|
|
Long-term borrowings |
645.040 |
470.078 |
273.700 |
|
Short term borrowings |
680.100 |
1188.857 |
1101.465 |
|
Current maturities of
long-term debts |
195.969 |
177.726 |
162.163 |
|
Total
borrowings |
1521.109 |
1836.661 |
1537.328 |
|
Debt/Equity
ratio |
0.598 |
0.668 |
0.445 |
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 |
4931.624 |
5603.632 |
6204.071 |
|
|
|
13.627 |
10.715 |
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 |
4931.624 |
5603.632 |
6204.071 |
|
Profit/ (Loss) |
268.853 |
441.175 |
402.161 |
|
|
5.45
% |
7.87
% |
6.48
% |
ABRIDGED
BALANCE SHEET - CONSOLIDATED
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
103.688 |
99.174 |
|
(b) Reserves and Surplus |
|
3187.242 |
2460.389 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
3290.930 |
2559.563 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
369.424 |
630.778 |
|
(b) Deferred tax liabilities (Net) |
|
245.721 |
249.446 |
|
(c) Other long-term
liabilities |
|
182.933 |
148.825 |
|
(d) long-term
provisions |
|
123.949 |
65.936 |
|
Total Non-current
Liabilities (3) |
|
922.027 |
1094.985 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
1101.465 |
1188.857 |
|
(b) Trade payables |
|
326.227 |
368.970 |
|
(c) Other
current liabilities |
|
592.602 |
714.675 |
|
(d) Short-term
provisions |
|
155.927 |
146.881 |
|
Total Current
Liabilities (4) |
|
2176.221 |
2419.383 |
|
|
|
|
|
|
TOTAL |
|
6389.178 |
6073.931 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1271.806 |
1247.181 |
|
(ii)
Intangible Assets |
|
475.287 |
558.534 |
|
(iii) Tangible assets
capital work-in-progress |
|
355.148 |
160.438 |
|
(iv)
Intangible assets under development |
|
393.267 |
389.172 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
664.877 |
717.693 |
|
(e) Other Non-current
assets |
|
11.039 |
6.428 |
|
Total Non-Current
Assets |
|
3171.424 |
3079.446 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1405.906 |
1375.658 |
|
(c) Trade
receivables |
|
1193.963 |
986.107 |
|
(d) Cash and
bank balances |
|
117.144 |
144.744 |
|
(e)
Short-term loans and advances |
|
366.396 |
348.796 |
|
(f) Other
current assets |
|
134.345 |
139.180 |
|
Total
Current Assets |
|
3217.754 |
2994.485 |
|
|
|
|
|
|
TOTAL |
|
6389.178 |
6073.931 |
PROFIT
& LOSS ACCOUNT - CONSOLIDATED
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
6679.167 |
5980.508 |
|
|
Other Income |
|
150.184 |
94.223 |
|
|
TOTAL |
|
6829.351 |
6074.731 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1963.737 |
1454.066 |
|
|
Purchases of
Stock-in-Trade |
|
577.915 |
727.693 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(88.818) |
(207.206) |
|
|
Employee benefit expense |
|
1205.771 |
1043.973 |
|
|
Other expenses |
|
2016.091 |
1943.781 |
|
|
Exceptional items before tax |
|
122.879 |
0.000 |
|
|
TOTAL |
|
5797.575 |
4962.307 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
1031.776 |
1112.424 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
197.832 |
198.059 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
833.944 |
914.365 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
316.154 |
301.515 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
517.790 |
612.850 |
|
|
|
|
|
|
|
Less |
TAX |
|
88.485 |
117.702 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
429.305 |
495.148 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
|
24.64 |
27.93 |
|
|
Diluted |
|
20.87 |
24.12 |
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 |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
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) |
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 |
COMPANY OVERVIEW
The Company is a public limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the business of research, development, manufacturing, marketing and sales of biological and pharmaceutical products in India and overseas market.
FINANCIAL SUMMARY OR
HIGHLIGHTS/PERFORMANCE OF THE COMPANY
On Standalone basis, total revenue of the Company was INR 6349.100 Million (INR 5706.500 Million) and after deducting total expenses of INR 5254.900 Million (INR 4680.700 Million), the operating profit before finance costs and tax for the period was INR 1094.200 Million (INR 1025.800 Million) and the profit before tax was INR 490.600 Million (INR 558.900 Million). The operations during the period resulted in net profit (after tax) of INR 402.200 Million (INR 441.200 Million).
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Borrowing from government semi-government bodies |
40.919 |
54.559 |
|
|
|
|
|
Total |
40.919 |
54.559 |
INDEX
OF CHARGES
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G52784733 |
100121272 |
Export-Import Bank of India |
16/08/2017 |
- |
- |
368000000.0 |
Centre One Building, Floor 21,World Trade Centre Complex, Cuffe ParadeMumbaiMH400005IN |
|
2 |
G48954036 |
100111371 |
Axis Bank Limited |
19/06/2017 |
- |
- |
650000000.0 |
Corporate Banking Branch, 12-A, First Floor,Mittal Tower, Nariman PointMumbaiMH400021IN |
|
3 |
G83195933 |
10534842 |
RBL BANK LIMITED |
21/11/2014 |
08/03/2018 |
- |
350000000.0 |
ONE, INDIA BULLS CENTRE TOWER 2B 6TH FLOOR841, SENAPATI BAPAT MARG, LOWER PAREL, MUMBAIMUMBAIMH400604IN |
|
4 |
B71295315 |
10413329 |
EXPORT-IMPORT BANK OF INDIA |
22/03/2013 |
- |
- |
200000000.0 |
CENTRE ONE BUILDING, 21 FLOORWORLD TRADE CENTRE, CUFFE PARADEMUMBAIMH400005IN |
|
5 |
B71978852 |
10412851 |
EXPORT-IMPORT BANK OF INDIA |
01/03/2013 |
22/03/2013 |
- |
350000000.0 |
CENTRE ONE BUILDING, 21 FLOORWORLD TRADE CENTRE, CUFFE PARADEMUMBAIMH400005IN |
|
6 |
B45661824 |
10331779 |
Export Import Bank of India |
24/01/2012 |
25/07/2012 |
- |
350000000.0 |
Centre One Building, Floor 21World Trade Centre Complex, Cuffe ParadeMumbaiMH400005IN |
|
7 |
A94241536 |
10239209 |
DEPARTMENT OF BIOTECHNOLOGY |
31/07/2010 |
- |
- |
14309000.0 |
6-8th FLOOR, BLOCK NO. 2CGO COMPLEX, LODHI ROAD,NEW DELHIDL110003IN |
|
8 |
B87722831 |
10174588 |
BANK OF BARODA |
16/07/2009 |
31/08/2013 |
- |
450000000.0 |
BACKBAY RECLAMATION BRANCH,RAM MAHAL, BACKBAY RECLAMATION,MUMBAIMH400020IN |
|
9 |
B36229680 |
10172203 |
BANK OF BARODA |
07/07/2009 |
20/03/2012 |
- |
360000000.0 |
Backbay Reclamation BranchChurchgateMumbaiMH400021IN |
|
10 |
A65385668 |
10167303 |
Department of Biotechnology |
29/06/2009 |
- |
- |
100000000.0 |
Block 2, CGO ComplexLodhi RoadNew DelhiDL110003IN |
|
11 |
B89617377 |
10072458 |
IDBI Bank Limited |
21/09/2007 |
31/10/2013 |
- |
550000000.0 |
224 A, 2ND FLOOR, MITTAL COURT,NARIMAN POINTMUMBAIMH400021IN |
|
12 |
C77446581 |
10059732 |
DBS Bank Ltd |
30/06/2007 |
15/01/2016 |
- |
400000000.0 |
3rd Floor, Fort HouseDr. D N Road, FortMumbaiMH400001IN |
|
13 |
G46368403 |
10181585 |
CORORATION BANK |
29/09/2009 |
- |
14/06/2017 |
65000000.0 |
OVERSEAS BRANCH1ST, FLOOR, EARNEST HOUSENARIMAN POINTMH400021IN |
|
14 |
G46368908 |
80002209 |
CORPORATION BANK |
29/10/2002 |
07/07/2009 |
14/06/2017 |
65000000.0 |
OVERSEAS BRANCH, EARNEST HOUSE, 1ST FLOORNARIMAN POINTMUMBAIMH400021IN |
|
15 |
G32651747 |
10320221 |
IDBI Bank Limited |
16/11/2011 |
20/03/2012 |
04/01/2017 |
100000000.0 |
DOSTI PINNACLE, GROUND FLOORROAD NO.22, WAGLE INDUSTRIAL ESTATETHANE WESTMH400604IN |
|
16 |
G02699130 |
10209223 |
EXPORT-IMPORT BANK OF INDIA |
15/03/2010 |
21/10/2010 |
28/04/2016 |
160000000.0 |
Centre One Building, Floor 21World Trade Centre Complex, Cuffe ParadeMumbaiMH400005IN |
|
17 |
B80278187 |
10194983 |
IDBI Bank Limited |
22/12/2009 |
05/03/2010 |
18/07/2013 |
150000000.0 |
224-A, A-WING, MITTAL COURTNARIMAN POINTMUMBAIMH400021IN |
|
18 |
B57832297 |
80017365 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED |
28/06/2002 |
08/11/2006 |
11/09/2012 |
130000000.0 |
IDBI TOWERWTC COMPLEXCUFFE PARADEMUMBAIMH400005IN |
|
19 |
B57801748 |
80002211 |
IDBI Bank Limited |
28/06/2002 |
15/04/2006 |
11/09/2012 |
60000000.0 |
IDBI TOWERWTC COMPLEXCUFFE PARADEMUMBAIMH400005IN |
|
20 |
B31217763 |
10093943 |
ICICI BANK LIMITED |
19/02/2008 |
- |
27/01/2012 |
200000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
21 |
B23498694 |
10051008 |
CITI BANK N.A. |
25/03/2007 |
07/07/2009 |
19/10/2011 |
135000000.0 |
BANDRA KURLA COMPLEXBANDRA (WEST)MUMBAIMH400051IN |
|
22 |
B16991150 |
10102732 |
DBS BANK LIMITED |
15/05/2008 |
20/07/2009 |
26/07/2011 |
88500000.0 |
221, DR. D. N. ROADFORTMUMBAIMH400001IN |
|
23 |
A67109892 |
10082946 |
HDFC BANK LIMITED |
07/12/2007 |
- |
17/07/2009 |
40000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
24 |
A56449572 |
80002208 |
HDFC BANK LIMITED |
01/07/2002 |
21/04/2008 |
13/02/2009 |
150000000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PARELMUMBAIMH400013IN |
|
25 |
A42262584 |
10072457 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED |
05/10/2007 |
- |
14/07/2008 |
200000000.0 |
IDBI TOWERWTC COMPLEXCUFFE PARADEMUMBAIMH400005IN |
|
26 |
A38079612 |
80042804 |
CO-OPERATIVE CENTRAL RAIFFEISEN BOERENLEENBANK B.A. |
13/11/2003 |
- |
13/05/2008 |
186320000.0 |
SINGAPORE BRANCH, ROBINSON RAOD,SIA BUILDINGSINGAPORENA068896SG |
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Leasehold improvements
· Livestock
Intangible assets
· Computer software
· Patents
· Know-how
WEBSITE DETAILS
NEWS/ PRESS RELEASES
BHARAT SERUM PLANS
IPO TO RAISE INR 20000.000 MILLION
08.12.2017
NEW DELHI: Kotak Private Equity Group-backed Bharat Serum and Vaccines Limited is planning to raise INR 20000.000 Million by offloading about 30% stake in an initial public offering of shares, people aware of the matter told ET. The planned flotation would value the company at about INR 66670.000 Million or more than $1 billion if investor appetite matches price expectations.
The private equity investor could offload a major part of its holding through
the IPO, said one of the persons, who did not wish to be identified. The
company is targeting the first quarter of 2018-19 for the IPO, the person said.
Kotak Private Equity Group owns almost a fourth of the company while OrbiMed
Advisors, another financial investor, owns about 10% stake.
The vaccine maker has appointed investment bank Jefferies & Co. to arrange
the share sale, the people said.
Bharat Daftary, chairman of Bharat Serum and Vaccines Limited, did not respond
to ET’s emailed queries till late evening on Thursday.
A spokesperson for his office said he had conveyed that the company would
“speak at an appropriate time about its IPO plans”.
A spokesperson for Jefferies and Co. declined to comment.
The private equity investors have in the past explored a sale of their holdings
independently to both financial and strategic investors but have decided to tap
into the public markets in search of better valuations, the people cited
earlier said.
Warburg Pincus-backed Laurus Labs raised INR 13000.000 Million through an IPO
last year that received subscription for nearly five times the shares on offer.
Founded in the 1970s by the Mumbai-based Daftary family, Bharat Serum and
Vaccines Limited specialises in making injectable medicines with a large chunk
of its sales derived from products such as fertility hormones for women.
It has two manufacturing plants located at Thane and Ambernath in Maharashtra
and a research and development (R&D) facility in Navi Mumbai. The company
clocked sales of about INR 6000.000 Million in 2015-16, according to details obtained
from public documents.
The company sells its products in overseas markets such as Russia, South America, Africa and other Asian countries though more than two-thirds of its sales are from the Indian market. It also carries out R&D activities through a wholly-owned arm in the US.
“Recent IPOs of pharmaceutical companies have done reasonably well, a sign that
investors are willing to back companies that have good growth prospects,” said
Hitesh Sharma, EY’s national life sciences leader.
Kotak Private Equity Group purchased a 25% stake in Bharat Serum and Vaccines
Limited eight years ago for an undisclosed sum. The $1.4 billion fund has been
an early backer of companies such as Intas, Natco Pharma and Manipal Hospitals
in deals driven by its CEO, Nitin Deshmukh, a former Cipla executive who turned
to investing in the 1990s after he joined ICICI Ventures.
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 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 65.61 |
|
|
1 |
INR 94.20 |
|
Euro |
1 |
INR 81.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
SUD |
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 |
NO |
|
--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.