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|
|
MIRA INFORM REPORT
|
Report No. : |
504478 |
|
Report Date : |
18.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
BLISS GVS PHARMA LIMITED (w.e.f. 27.12.2006) |
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|
|
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Formerly Known
As : |
BLISS CHEMICALS AND PHARMACEUTICALS INDIA LIMITED |
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Registered
Office : |
102, Hyde Park, Sakivihar Road, Andheri (East), Mumbai – 400072,
Maharashtra |
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Tel. No.: |
91-22-42160000 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
11.12.1984 |
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Com. Reg. No.: |
11-034771 |
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Capital
Investment / Paid-up Capital : |
INR 103.147 Million |
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|
|
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CIN No.: [Company Identification
No.] |
L24230MH1984PLC034771 |
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|
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IEC No.: [Import-Export Code No.] |
0397031441 |
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TIN / CST No.: |
27330004277 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AABCB1382J1ZQ |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCB1382J |
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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
: |
The Company is engaged in manufacturing, marketing, trading and export of pharmaceutical products. [Registered Activity] |
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No. of Employees
: |
445 (Approximately) |
|
MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1984 and it
is having good track. For the financial year 2017, the company has increased in its revenue
from operations as compared to previous year and maintained decent profit
margin of 17.93%. Rating takes into consideration sound financial profile of the company
marked by healthy networth base and low debt balance sheet. Further, rating also derives strength from its extensive experience of
promoters in pharmaceutical industry as well as established brand,
improvement in the revenue profile and comfortable liquidity position during
the year. However, these strengths are partially offset by highly working
capital intensive operations and exposure to risks related to geographical
concentration in revenue. Trade relations reported as fair. Business is active. Payments are
seems to be regular. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating= BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
31.01.2018 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating= A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
31.01.2018 |
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 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
Management Non-Cooperative (91-22-42160000)
LOCATIONS
|
Registered / Corporate / Administrative Office : |
102, Hyde Park, Sakivihar Road, Andheri (East), Mumbai – 400072,
Maharashtra, India |
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Tel. No.: |
91-22-42160000 |
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Fax No.: |
91-22-28563930 |
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E-Mail : |
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|
Website : |
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Factory 1 : |
Plot No.10, 11 and 12, Village: Aliyali, Palghar
Taluka, District Thane – 401404, Maharashtra, India |
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Tel. No.: |
91-22-28505387 / 28503870 |
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Fax No.: |
91-2-28563930 |
|
|
. |
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Research &
Development Centre : |
Unit 6, Ground Floor, Hyde Park, Saki Vihar Road, Andheri (East), Mumbai – 400072, Maharashtra, India |
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|
|
|
Factory : |
Also located at: ·
Ambernath,
Thane, Maharashtra, India ·
Daman (U.T.),
India |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Mayank Surendra Mehta |
|
Designation : |
Chairman and Independent Director |
|
Address : |
9, Prem Milan, 18/10 R.A. Kidwai Road, Wadala, Mumbai –
400031, Maharashtra, India |
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Date of Birth/ Age : |
08.04.1960 |
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Date of Appointment : |
29.07.2011 |
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DIN No.: |
00765052 |
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Name : |
Mr. Shibroor Narsimha Kamath |
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Designation : |
Managing Director |
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Address : |
202, Jai Akshay Sagar CHS, Namdeao Path, Thane – 421201, Maharashtra,
India |
|
Date of Birth/ Age : |
21.12.1953 |
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Date of Appointment : |
01.04.2013 |
|
DIN No.: |
00140593 |
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PAN No.: |
AFMPK8583R |
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|
|
|
Name : |
Mr. Gautam Rasiklal Ashra |
|
Designation : |
Non-Executive Director |
|
Address : |
1/4, Breach Candy Apartment, B.D. Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/ Age : |
15.10.1956 |
|
Date of Appointment : |
14.06.2004 |
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DIN No.: |
00140942 |
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PAN No.: |
AABPA0457E |
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|
|
|
Name : |
Mr. Subramanian Ramaswamy Vaidya |
|
Designation : |
Intendent Director |
|
Address : |
Plot No.6, Block No.08, Peru Baug, Goregaon (East), Mumbai – 400063,
Maharashtra, India |
|
Date of Birth/ Age : |
26.10.1942 |
|
Date of Appointment : |
14.08.2014 |
|
DIN No.: |
03600249 |
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|
|
|
Name : |
Mrs. Shruti Narasimha Kamath |
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Designation : |
Whole-Time Director |
|
Address : |
202, Jai Akshay Sagar CHS, Namdeao Path, Thane – 421201, Maharashtra,
India |
|
Date of Birth/ Age : |
06.04.1985 |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
00731501 |
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|
|
|
Name : |
Dr. Vibha Narsimha Kamath |
|
Designation : |
Whole-Time Director |
|
Address : |
202, Jai Akshay Sagar CHS, Namdeao Path, Thane – 421201, Maharashtra,
India |
|
Date of Birth/ Age : |
08.07.1983 |
|
Date of Appointment : |
27.01.2013 |
|
DIN No.: |
02307289 |
|
|
|
|
Name : |
Mr. Santosh Laxman Parab |
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Designation : |
Intendent Director |
|
Address : |
302, Shivam Apartments, Opposite Greater Bank, Sant
Janabai Marg, Vile Parle (East), Mumbai – 400057, Maharashtra, India |
|
Date of Appointment : |
24.05.2016 |
|
DIN No.: |
01622988 |
KEY EXECUTIVES
|
Name : |
Mr. Vipul Babulal Thakkar |
|
Designation : |
Chief Financial Officer |
|
Address : |
A/402, Govardhan Complex, Caves Road, Jogeshwari (East), Mumbai
– 400060, Maharashtra, India |
|
Date of Appointment : |
14.08.2015 |
|
PAN No.: |
ADJPT6708J |
|
|
|
|
Name : |
Sushama Anuj Yadav |
|
Designation : |
Company Secretary |
|
Address : |
4/302, Sonam Annapurna Apartment, New Golden Nest, Phase -
7, Bhayandar (East), Thane, Mumbai – 401105, Maharashtra, India |
|
Date of Appointment : |
19.01.2018 |
|
PAN No.: |
ABVPY2378K |
SHAREHOLDING PATTERN
AS ON March 2018
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
(A) Promoter
& Promoter Group |
62057046 |
60.16 |
|
(B) Public |
41089626 |
39.84 |
|
Grand Total |
103146672 |
100.00 |
Statement showing shareholding pattern of the Promoter
and Promoter Group
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
Individuals/Hindu
undivided Family |
62057046 |
60.16 |
|
Antara Gautam
Ashra |
1647924 |
1.60 |
|
Arjun Gautam
Ashra |
5000000 |
4.85 |
|
Gautam R Ashra |
5231045 |
5.07 |
|
Mamta Gautam
Ashra |
1980333 |
1.92 |
|
Mangesh
Ghanashyam Wagle |
75000 |
0.07 |
|
Mangesh
Ghanashyam Wagle - HUF |
7720 |
0.01 |
|
Narsimha Shibroor
Kamath |
42017024 |
40.74 |
|
Prabhavati
Rasiklal Ashra |
98000 |
0.10 |
|
Vibha Gagan
Sharma |
3500000 |
3.39 |
|
Shruti Vishal Rao |
2500000 |
2.42 |
|
Sub Total A1 |
62057046 |
60.16 |
|
A=A1+A2 |
62057046 |
60.16 |
Statement showing shareholding pattern of the Public
shareholder
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
Foreign Portfolio
Investors |
11180919 |
10.84 |
|
Aspire Emerging
Fund |
3135647 |
3.04 |
|
Fidelity Puritan
Trust-Fidelity Low-Priced Stock Fund |
4600000 |
4.46 |
|
Financial
Institutions/ Banks |
145561 |
0.14 |
|
Sub Total B1 |
11326480 |
10.98 |
|
Individual share
capital upto INR 0.200 million |
13289829 |
12.88 |
|
Individual share
capital in excess of INR 0.200 million |
1501272 |
1.46 |
|
NBFCs registered
with RBI |
138915 |
0.13 |
|
Any Other
(specify) |
14833130 |
14.38 |
|
Clearing Members |
620834 |
0.60 |
|
Bodies Corporate |
11094351 |
10.76 |
|
Guiness
Securities Limited |
1417022 |
1.37 |
|
Gulbarga Trading
And Investment Private Limited |
5875000 |
5.70 |
|
Non-Resident
Indian (NRI) |
2422277 |
2.35 |
|
LLP |
208412 |
0.20 |
|
HUF |
487256 |
0.47 |
|
Sub Total B3 |
29763146 |
28.86 |
|
B=B1+B2+B3 |
41089626 |
39.84 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in manufacturing, marketing, trading and export of pharmaceutical products. [Registered Activity] |
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Products / Services
: |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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 : |
·
AAR ·
Jubilee ·
Britam ·
Resolution Insurance ·
Madison Insurance ·
First Assurance ·
UAP ·
Kenya Airport Authority ·
Daystar University ·
Alexander Forbes ·
KCAA |
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No. of Employees : |
445 (Approximately) |
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Bankers : |
·
Export-Import Bank of India, Centre One
Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai –
400005, Maharashtra, India |
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Facilities : |
NOTES: LONG TERM BORROWINGS 1. The current maturities of Term Loan in Foreign Currency of INR Nil (Previous Year- INR 166.550 million) is disclosed in other current liabilities (Note 10) The loan is secured against 51% shares of Bliss GVS Healthcare Limited and 100% shares of Bliss GVS Clinic Healthcare Pte Limited, pari passu charge on current and fixed assets of the Company and the Company’s fixed deposits with First Rand Bank. The loan is repayable from December 2013 in 12 Quarterly installments. 2. Term Loans from bank a) Includes loan of INR Nil for Plot no 12 (Previous Year INR 61.253 million) including current maturities of INR Nil (Previous Year - INR 12.864 million) for Company’s Palghar Land and is secured by the said Land and building thereon, along with the Property of Company’s Research and Development Centre and Plant and Machinery at R&D Centre which is repayable from December 2013 in 75 equal monthly installments. b) Includes Loan of INR 69.018 million for Plot no 1,2,3 (Previous Year – INR 84.652 million) including current maturities of INR 14.634 million (Previous Year – INR 14.634 million) and adjacent open space for new plant is secured by Land and Building at Plot 1,2,3 which is repayable in 82 equal installments. c) Includes Loan of INR 70.362 million for R&D Lab (Previous Year - Nil) is secured by all the assets of the Company which is repayable in 48 equal installments. SHORT
TERM BORROWINGS 1. Includes cash credit of INR 66.900 million (Previous year INR 184.836 million) secured by Inventory and books Debts of the Company. It also includes packing credit Limit of INR 100.000 million (Previous year Nil) which is also secured by inventory and Books Debts of the Company. 2. Includes Demand loan of INR 98.958 million (Previous year INR 70.771 million) secured against Fixed deposits with Federal bank. |
|
Auditors : |
|
|
Name : |
B.K. Khare and Company Chartered Accountants |
|
Address : |
706/708, Sharda Chambers, new Marine Line, Mumbai – 400020,
Maharashtra, India |
|
Tel. No.: |
91-22-22000607 / 22007318 / 22006360 / 66315835 / 66315836 |
|
Fax No.: |
91-22-22003476 |
|
E-Mail : |
|
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Membership No.: |
105731 |
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|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
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|
Subsidiaries and
Step down Subsidiaries : |
· Bliss Indasi Lifescience Private Limited · Bliss GVS International Pte Limited · Bliss GVS Clinics Health Care Pte Limited · Kremoint Pharma Private Limited · Bliss GVS Healthcare Limited · Shree Salespack Private Limited · Lifeon Labs Private Limited · Greenlife Bliss Healthcare Limited · Asterisk Lifesciences Limited · Asterisk Lifesciences GH Limited · Eipii Exports Private Limited |
|
|
|
|
Other related party relationships where transactions
have taken place during the year Enterprises over which key managerial
personnel exercise significant influence : |
· Lozen Pharma Private Limited · Kanji Forex Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
INR 1/- each |
INR 150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
103146672 |
Equity Shares |
INR 1/- each |
INR 103.147 Million |
|
|
|
|
|
·
Reconciliation
of opening and closing equity share capital
|
Equity Shares |
Number of Shares |
Amount in Million |
|
Opening Balance |
103146672 |
103.147 |
|
Closing Balance |
103146672 |
103.147 |
·
Details
of shareholders holding more than 5% shares in the Company
|
Name of Shareholder |
Number of Shares held |
% holding |
|
S. N. Kamath |
47017024 |
45.58 |
|
Gautam Rasiklal Ashra |
5231045 |
5.07 |
|
Gulbarga Trading and Investment Private Limited |
5875000 |
5.70 |
· The rights, preferences and restrictions attaching to each class of shares including restrictions on the distribution of dividends and the repayment of capital
The Company has only one class of Equity Shares having a par value of INR 1/- per share. Each Shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company, in proportion to the number of equity shares held by them.
· There are no shares reserved for issue under options and contracts/ arrangements/ commitments.
· The Board of Directors in their meeting held on May 16, 2017 proposed a dividend of INR 0.60/- per share. (Previous Year- INR 0.50/- per share)
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 |
103.147 |
103.147 |
103.147 |
|
(b) Reserves & Surplus |
4809.785 |
4217.596 |
3578.714 |
|
(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) |
4912.932 |
4320.743 |
3681.861 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
124.746 |
118.407 |
302.095 |
|
(b) Deferred tax liabilities (Net) |
83.703 |
82.758 |
71.530 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
18.090 |
16.684 |
13.985 |
|
Total Non-current
Liabilities (3) |
226.539 |
217.849 |
387.610 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
342.358 |
499.461 |
283.762 |
|
(b) Trade
payables |
637.951 |
350.615 |
504.672 |
|
(c) Other
current liabilities |
118.331 |
290.999 |
391.346 |
|
(d) Short-term
provisions |
119.626 |
167.181 |
300.762 |
|
Total Current
Liabilities (4) |
1218.266 |
1308.256 |
1480.542 |
|
|
|
|
|
|
TOTAL |
6357.737 |
5846.848 |
5550.013 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
753.328 |
785.538 |
807.110 |
|
(ii)
Intangible Assets |
3.992 |
5.401 |
7.929 |
|
(iii)
Capital work-in-progress |
19.806 |
19.806 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
205.937 |
205.937 |
192.263 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1109.233 |
1104.468 |
1013.508 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
4.326 |
|
Total Non-Current
Assets |
2092.296 |
2121.150 |
2025.136 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
280.580 |
219.492 |
225.183 |
|
(c) Trade
receivables |
2121.436 |
2505.783 |
2106.121 |
|
(d) Cash
and cash equivalents |
835.657 |
568.976 |
473.677 |
|
(e)
Short-term loans and advances |
753.547 |
321.596 |
613.362 |
|
(f) Other
current assets |
274.221 |
109.851 |
106.534 |
|
Total
Current Assets |
4265.441 |
3725.698 |
3524.877 |
|
|
|
|
|
|
TOTAL |
6357.737 |
5846.848 |
5550.013 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
3491.837 |
3263.834 |
3130.217 |
|
|
|
|
Other Income |
215.975 |
230.758 |
213.504 |
|
|
|
|
TOTAL |
3707.812 |
3494.592 |
3343.721 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
1746.666 |
1349.028 |
1378.413 |
|
|
|
|
Purchase of Stock-in-trade |
0.000 |
3.637 |
9.032 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(69.304) |
(13.209) |
24.827 |
|
|
|
|
Employee Benefits Expenses |
250.420 |
218.889 |
173.608 |
|
|
|
|
Other Expenses |
646.633 |
744.508 |
682.395 |
|
|
|
|
TOTAL |
2574.415 |
2302.853 |
2268.275 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1133.397 |
1191.739 |
1075.446 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
90.736 |
131.098 |
112.118 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1042.661 |
1060.641 |
963.328 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
58.459 |
58.524 |
50.783 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
984.202 |
1002.117 |
912.545 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
358.184 |
345.970 |
312.390 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
626.018 |
656.147 |
600.155 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3537.516 |
2992.954 |
2530.178 |
||
|
|
|
|
|
|
||
|
Add |
DEPRECIATION
ADJUSTMENT |
0.000 |
0.000 |
(0.466) |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
60.000 |
50.000 |
50.000 |
|
|
|
|
Interim Dividend |
0.000 |
0.000 |
20.629 |
|
|
|
|
Dividend Distribution Tax on Interim Dividend |
0.000 |
0.000 |
4.152 |
|
|
|
|
Dividend Distribution Tax (Earlier Year) |
0.000 |
(0.231) |
0.000 |
|
|
|
|
Proposed Dividends |
0.000 |
51.573 |
51.573 |
|
|
|
|
Tax on
Dividend |
0.000 |
10.243 |
10.559 |
|
|
|
BALANCE CARRIED
TO THE B/S |
4103.534 |
3537.516 |
2992.954 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Earnings in Foreign Currency |
3069.336 |
3025.446 |
2934.237 |
|
|
|
TOTAL EARNINGS |
3069.336 |
3025.446 |
2934.237 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials and Packaging
Materials |
326.193 |
64.405 |
47.902 |
|
|
|
|
Capital Goods |
0.000 |
3.637 |
9.032 |
|
|
|
|
Trading Goods |
4.833 |
4.402 |
55.316 |
|
|
|
TOTAL IMPORTS |
331.026 |
72.444 |
112.250 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
6.07 |
6.36 |
5.82 |
||
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current
Maturities of Long term debt |
|
|
|
|
On Term Loan in foreign currency |
0.000 |
166.550 |
283.050 |
|
On Rupee Loans from banks |
14.634 |
27.498 |
27.498 |
|
On Vehicle Loans |
0.000 |
0.000 |
1.480 |
|
Total |
14.634 |
194.048 |
312.028 |
|
|
|
|
|
|
Cash generated from operations |
719.596 |
796.425 |
462.395 |
|
Net Cash from Operating Activities |
347.883 |
596.125 |
376.122 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net sales |
671.810 |
742.020 |
735.930 |
|
Total Expenditure |
511.230 |
529.540 |
539.210 |
|
PBIDT (Excluding Other Income) |
160.580 |
212.480 |
196.720 |
|
Other income |
24.420 |
61.460 |
11.990 |
|
Operating Profit |
185.000 |
273.940 |
208.710 |
|
Interest |
18.390 |
19.930 |
15.390 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
166.610 |
254.010 |
193.320 |
|
Depreciation |
10.000 |
10.440 |
21.680 |
|
Profit Before Tax |
156.620 |
243.570 |
171.630 |
|
Tax |
53.690 |
83.500 |
67.620 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit after tax |
102.930 |
160.070 |
104.020 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
102.930 |
160.070 |
104.020 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
221.75 |
280.23 |
245.58 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.65 |
1.30 |
1.49 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
133.31 |
94.61 |
132.77 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
4.04 |
5.43 |
4.78 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.46 |
1.47 |
1.32 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.21 |
0.28 |
0.38 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.10 |
0.19 |
0.24 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.25 |
0.30 |
0.40 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.16 |
0.19 |
0.22 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
12.49 |
9.09 |
9.59 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
17.93 |
20.10 |
19.17 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
9.85 |
11.22 |
10.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
12.74 |
15.19 |
16.30 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.50 |
2.85 |
2.38 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
3.27 |
2.68 |
2.23 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.77 |
0.74 |
0.66 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.67 |
7.87 |
8.70 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.50 |
2.85 |
2.38 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 1.00/- |
|
Market Value |
INR 203.00/- |
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 |
103.147 |
103.147 |
103.147 |
|
Reserves & Surplus |
3578.714 |
4217.596 |
4809.785 |
|
Net
worth |
3681.861 |
4320.743 |
4912.932 |
|
|
|
|
|
|
Long-Term Borrowings |
302.095 |
118.407 |
124.746 |
|
Short Term Borrowings |
283.762 |
499.461 |
342.358 |
|
Current Maturities of Long term debt |
312.028 |
194.048 |
14.634 |
|
Total
borrowings |
897.885 |
811.916 |
481.738 |
|
Debt/Equity
ratio |
0.244 |
0.188 |
0.098 |
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 |
3130.217 |
3263.834 |
3491.837 |
|
|
|
4.269 |
6.986 |
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
|
3130.217 |
3263.834 |
3491.837 |
|
Profit/(Loss) |
600.155 |
656.147 |
626.018 |
|
|
19.17% |
20.10% |
17.93% |
BALANCE
SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
103.147 |
103.147 |
|
(b) Reserves &
Surplus |
4729.109 |
4023.077 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2) Minority Interest |
648.648 |
330.957 |
|
Total Shareholders’ Funds
(1) + (2) |
5480.904 |
4457.181 |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) long-term borrowings |
451.306 |
382.427 |
|
(b) Deferred tax
liabilities (Net) |
93.866 |
94.886 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
|
(d) long-term provisions |
20.522 |
18.143 |
|
Total Non-current
Liabilities (3) |
565.694 |
495.456 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term borrowings |
1419.241 |
621.238 |
|
(b) Trade payables |
944.687 |
1084.857 |
|
(c) Other current
liabilities |
972.195 |
527.563 |
|
(d) Short-term provisions |
478.123 |
431.523 |
|
Total Current Liabilities
(4) |
3814.246 |
2665.181 |
|
|
|
|
|
TOTAL |
9860.844 |
7617.818 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible assets |
2551.413 |
1809.183 |
|
(ii) Intangible Assets |
66.867 |
5.760 |
|
(iii) Capital
work-in-progress |
40.292 |
90.979 |
|
(iv) Goodwill on
consolidation |
424.308 |
437.564 |
|
(b) Non-current
Investments |
1.002 |
1.102 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1420.031 |
567.748 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
|
Total Non-Current Assets |
4503.913 |
2912.336 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
0.000 |
0.000 |
|
(b) Inventories |
492.987 |
386.730 |
|
(c) Trade receivables |
2265.391 |
3009.329 |
|
(d) Cash and cash
equivalents |
1505.097 |
781.766 |
|
(e) Short-term loans and
advances |
861.794 |
504.192 |
|
(f) Other current assets |
231.662 |
23.465 |
|
Total Current Assets |
5356.931 |
4705.482 |
|
|
|
|
|
TOTAL |
9860.844 |
7617.818 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
Income |
7997.409 |
5468.941 |
|
|
Other Income |
255.804 |
243.500 |
|
|
TOTAL |
8253.213 |
5712.441 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
3430.260 |
2558.907 |
|
|
Purchases of
Stock-in-Trade |
261.486 |
50.876 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(98.336) |
(42.130) |
|
|
Employees benefits
expense |
606.582 |
337.365 |
|
|
Other expenses |
1860.999 |
1010.890 |
|
|
TOTAL |
6060.991 |
3915.908 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION &
AMORTISATION |
2192.222 |
1796.533 |
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
199.246 |
181.986 |
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX,
DEPRECIATION & AMORTISATION |
1992.976 |
1614.547 |
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
201.185 |
132.600 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1791.791 |
1481.947 |
|
|
|
|
|
|
Less |
TAX |
628.409 |
480.491 |
|
|
|
|
|
|
|
PROFIT
FOR THE YEAR AFTER TAX BUT BEFORE MINORITY INTEREST |
1163.382 |
1001.456 |
|
|
|
|
|
|
Less |
MINORITY SHARE IN PROFIT/ (LOSS) |
307.276 |
176.630 |
|
|
|
|
|
|
|
PROFIT FOR THE YEAR AFTER MINORITY INTEREST |
856.106 |
824.826 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
8.30 |
8.00 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
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 |
BACKGROUND:
The Company is a Public limited Company, incorporated under the Companies Act, 1956, having its registered office in Mumbai, Maharashtra and is listed on BSE Limited and the National Stock Exchange of India Limited. The Company is engaged in manufacturing, marketing, trading and export of pharmaceutical products. The Company has its own manufacturing facility at Palghar.
YEARLY REVIEW:
The Company has successfully completed 32 years of operations this year. The Company is a fast-growing Pharmaceutical Company with a proven track record of developing, manufacturing and marketing high quality pharmaceutical formulations at affordable prices for the global markets that have reported an encouraging performance for the year ended March 31, 2017.
STANDALONE FINANCIAL RESULTS:
The Net Sales of their Company increased to INR 3491.837 million from INR 3263.834 million in the previous year, at growth rate of 6.99%. Profit before tax was INR 984.202 million as compared to INR 1002.117 million in the previous year. Profit after tax was INR 626.018 million as compared to INR 656.147 million in the previous year. The Company booked a profit of INR 131.647 million due to foreign Exchange fluctuation and better Foreign Exchange management.
MANAGEMENT’S
DISCUSSION AND ANALYSIS REPORT
COMPANY OVERVIEW
The Company is a fast-growing Company with a proven track record of developing, manufacturing and marketing high quality pharmaceutical formulations and offering healthcare services at affordable prices for the global market.
Today, The Company is among the world leaders in the Suppositories and Pessaries dosage forms with one of the largest product portfolios in this segment. The Company’s thirty two years of experience in suppository manufacturing has resulted in developing an extensive product offering in suppositories and pessaries across various therapeutic categories. The Company manufacturing plants are certified to be cGMP compliant by local and international standards: EU GMP, WHO GMP, OHSAS-18001: 2007 and ISO-14001: 2004. The Company is constantly looking to raise the bar in terms of developing innovative products and quality standards which keeps it ahead of competition.
This organisation is proud of its segment leadership in Antimalarial products across most African markets. Its brands cover an extensive range of Artemisinin-based combination formulations across various dosage forms – Tablets, Suspensions, Sachets, Suppositories and Injections.
Over the last decade, The Company has acquired definitive knowhow in other dosage forms & therapeutic segments, which is exemplified by its ever-expanding product offering across more than sixty countries. More recently, The Company has also made successful inroads in managed healthcare services. The Company Healthcare Limited (BGHL) operates an innovative Public-Private engagement model to address unmet healthcare requirements in Kenya through its chain of clinics and partner service providers. With significant expansion across both Pharmaceutical & Healthcare verticals, the Company is poised for an accelerated rate of growth which makes for very exciting times at Bliss GVS.
INDIA–“GLOBAL PHARMACY OF THE WORLD”
India has achieved an eminent position in pharma sector and is recognised globally for its role in supplying high quality pharmaceutical products at competitive prices. The Indian pharmaceutical industry was estimated to be worth US$ 20 billion in 2015 and is expected to touch US$ 100 billion by 2025. By 2020, India is likely to be among the top three pharmaceutical markets by incremental growth and sixth largest market globally in absolute size.
The domestic market has been steadily growing on account of a rising population, increase in purchasing power and improving access to affordable healthcare and health insurance. Much of the growth in the Indian Pharmaceutical Industry has been fuelled by exports. Over the last decade, the industry has emerged as a major player in generic pharmaceutical production and now supplies around 20% of the global market for generic medicines. India has the highest number of FDA approved manufacturing plants outside the US. Combined with its research and development experience and relatively low cost base, Indian companies are well positioned to competitively cater to global demand.
The Government of India’s ‘Pharma Vision 2020’ is aimed at making India a destination for end to end solutions in pharmaceutical manufacturing. The government’s ‘Make in India’ initiative complements its efforts in encouraging pharmaceutical manufacturing.
The Indian Pharmaceutical Industry has thus proven its end to end capabilities in API and finished product development, manufacturing and marketing. The new government’s pro-active measures will only provide a more conducive environment for pharmaceutical firms to thrive. These positive industry dynamics provide a solid foundation for the industry to provide sustainable growth and reach new highs. The Company has been investing continuously over the last few years in capability creation across development, manufacturing and marketing. This places the firm in a good position to ride the industry’s growth and deliver shareholder value.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR
In Million |
31.03.2016 INR
In Million |
|
SHORT TERM
BORROWINGS |
|
|
|
Short term Loan from Director [Unsecured Loan includes demand loan of INR 76.500 million (Previous year INR 116.500 million) taken from Director Mrs. Shruti Vishal Rao.] |
76.500 |
116.500 |
|
|
|
|
|
Total |
76.500 |
116.500 |
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST
DECEMBER 2017
(INR In Million)
|
Particulars |
Quarter ended |
Nine Months ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
||
|
INCOME FROM OPERATIONS |
|
|
|
|
Sales / Income from operations |
723.945 |
721.109 |
2096.353 |
|
Other Operating Income |
11.983 |
20.907 |
53.402 |
|
Total Income from Operations |
735.928 |
742.016 |
2149.755 |
|
Other income |
11.990 |
61.463 |
66.565 |
|
Total |
747.918 |
803.479 |
2216.320 |
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
415.888 |
377.505 |
1097.000 |
|
Changes in inventories of finished goods and
work-in-progress |
(55.922) |
22.986 |
(1.093) |
|
Excise duty |
0.341 |
2.623 |
5.079 |
|
Employee benefits expense |
70.203 |
62.845 |
194.485 |
|
Finance Costs |
15.393 |
19.929 |
53.709 |
|
Depreciation and Amortization expenses |
21.684 |
10.435 |
42.117 |
|
Other Expenditure |
108.702 |
63.588 |
253.211 |
|
Total
Expenses |
576.289 |
559.911 |
1644.508 |
|
Profit / (Loss) before Tax |
171.629 |
243.568 |
571.812 |
|
Tax Expense |
67.608 |
83.501 |
204.797 |
|
Profit
/ (Loss) after Tax |
104.021 |
160.067 |
367.015 |
|
Other Comprehensive Income |
|
|
|
|
- Items that will not be reclassified to profit or loss |
(0.312) |
(0.283) |
(0.935) |
|
- Remeasurement if the defined benefit liabilities/(Asset) |
0.108 |
0.098 |
0.324 |
|
Total other Comprehensive Income |
103.817 |
159.882 |
366.404 |
|
Paid-up Equity Share Capital (Face Value INR 1/- each) |
103.147 |
103.147 |
103.147 |
|
Reserves (excluding Revaluation Reserve) |
|
|
|
|
Earnings per Share (EPS) - INR |
1.01 |
1.55 |
3.55 |
NOTES:
1. The above results which are published in accordance with Regulation 33 of the SEBI (Listing Obligation & Disclosure Requirements), 2015 have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on January 19, 2018 The financial results are in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016 The current quarter and nine months results have been subjected to a limited review by the Statutory Auditors of the Company.
2. The statement does not include Ind AS Compliant results for previous year ended March 31, 2017 as the same is not mandatory as per SEBl circular dated July 05, 2016
3. As the Company's business activity falls within a single operating segment viz “Pharmaceutical and Healthcare", no segment information is disclosed.
4. Reconciliation of the Net Profit on account of transition from previous GAAP to Ind- AS for the quarters and Nine month ended 31st December, 2016.
5. During the quarter, distribution network operation in two of the subsidiaries- Asterisk Lifesciences Ltd (UK) & Asterisk Lifesciences (GH) Limited have been temporarily suspended due to operational reasons However, Company has continued with marketing activities.
6. During the period, the Company has done disinvestment of below mentioned subsidiaries in order to align with long term strategy.
a) Bliss Indasi Lifesciense Private Limited (51% holding)
b) Lifeon Labs Private Limited (51% holding)
c) Shree Salespack Private Limited (51.51% holding)
7. To minimise the dependency on lower tendering business and focusing on pharmaceutical business, the management has decided, to divest the step down subsidiary of the Company. Bliss GVS Healthcare Limited, Nairobi (Kenya). The board has approved the sale transaction in meeting conducted on 19 January, 2018. The revenue from entity to be divested for quarter ended December 31, 2017, the total income of INR 1089.559 million, PAT of INR 140.327 million and for nine months ended December 31, 2017 the total income of INR 3912.072 million. PAT of INR 555.963 million.
8. Previous Period figures have been regrouped/reclassified wherever necessary.
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G76720887 |
100154288 |
EXPORT-IMPORT BANK OF INDIA |
11/01/2018 |
- |
- |
750000000.0 |
CENTRE ONE BUILDING, FLOOR 21,WORLD TRADE CENTRE COMPLEX, CUFFE PARADEMUMBAIMH400005IN |
|
2 |
G32618860 |
100070416 |
IDFC BANK LIMITED |
05/11/2016 |
- |
- |
680000000.0 |
KRM TOWER, 8TH FLOOR, NO. 1,HARRINGTON ROAD, CHETPETCHENNAITA600031IN |
|
3 |
B39402797 |
10354948 |
PUNJAB NATIONAL BANK |
30/03/2012 |
- |
- |
70700000.0 |
SHOP NO. 3/6, SAI KRISHNA APARTMENT,OPP. INCOME TAX OFFICE, DEVKA ROADDAMANDD396210IN |
|
4 |
G40287757 |
10026649 |
THE FEDERAL BANK LIMITED |
07/10/2006 |
23/02/2017 |
- |
1400000000.0 |
101-105,KASTURI PLAZA COMPLEX=A,MANPADA ROADDOMBIVALI(EAST)MUMBAIMH421201IN |
|
5 |
Y10263400 |
90162153 |
CANARA BANK |
11/04/1988 |
- |
- |
700000.0 |
FORTBOMBAYMH400032IN |
|
6 |
Y10263218 |
90161971 |
CANARA BANK |
18/08/1986 |
- |
- |
600000.0 |
FORT MARKETBOMBAYMH400038IN |
|
7 |
Y10263187 |
90161940 |
CANARA BANK |
07/04/1986 |
- |
- |
600000.0 |
FORT MARKET FRERE ROADBOMBAYMH400038IN |
|
8 |
G83800664 |
10300313 |
EXPORT-IMPORT BANK OF INDIA |
02/08/2011 |
13/02/2012 |
27/03/2018 |
3283000.0 |
CENTRE ONE BUILDING, FLOOR 21WORLD TRADE CENTRE COMPLEX, CUFFE PARADEMUMBAIMH400005IN |
|
9 |
G13758644 |
10411446 |
FIRSTRAND BANK LIMITED |
22/02/2013 |
- |
05/10/2016 |
100000000.0 |
TCG FINANCIAL CENTRE PLOT NO C 53 G BLOCKBANDRA KURLA COMPLEXMUMBAIMH400051IN |
|
10 |
G13713326 |
10375374 |
IDBI TRUSTEESHIP SERVICES LIMITED |
28/07/2012 |
- |
04/10/2016 |
550000000.0 |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMAN |
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Plant and Machinery
· Vehicles
· Furniture and Fixtures
· Office Equipments
· Computers
Intangible Assets
· Goodwill
· Software
· Brand
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 94.21 |
|
Euro |
1 |
INR 81.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
NKT |
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.