|
|
|
MIRA INFORM REPORT
|
Report No. : |
503559 |
|
Report Date : |
18.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
GLAND PHARMA LIMITED (w.e.f. 05.12.1994) |
|
|
|
|
Formerly Known
As : |
GLAND PHARMA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
# 6-3-865/1/2, Flat No. 201, Greenland Apartments, Ameerpet, Hyderabad
– 500016, Telangana |
|
Tel. No.: |
91-40-23541535
/ 66621010 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
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Date of Incorporation
: |
20.03.1978 |
|
|
|
|
Com. Reg. No.: |
36-002276 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 154.949 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239AP1978PLC002276 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0990002110 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
36AAACG8036B1ZZ |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG8036B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and exporter injectable formulations. [Registered activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 48000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Exist |
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|
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Comments : |
Subject was established in the year 1978 and is engaged manufacturing
of pharmaceuticals ingredients. Its products include injections, eye drops,
ear drop-glycos amino glycans, active pharmaceuticals ingredients,
osteoarthritis, anti-coagulants, gynaecology and ophthalmology. The company also provides formulation development, analytical method
development, stability testing, packaging development and documentation
support and contract manufacturing services. As per Registrar of Companies, the date of filling its financials is
shown as 31.03.2017 but documents related to the FY 2017 are not available
from any other sources. As per available financials of March 2016, the company has registered
a growth 35.63% in its revenue as compared to previous year’s revenue and has
reported good profit margin of 23.27% under review. Rating takes into consideration the company’s established track record
of business operations marked by healthy net worth base along with low
solvency indicator and good liquidity position. Further, the company has reported a good earnings per share of INR 201.45
against its face value of INR 10. However, rating strength partially offset by vulnerability of its
operating margins to volatility in raw material prices and working capital
intensive operations. Payments 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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Long-Term Rating = AA- |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
17.04.2017 |
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Short-Term Rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
17.04.2017 |
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
Management Non-Cooperative (91-40-66621010)
LOCATIONS
|
Registered Office : |
#6-3-865/1/2, Flat No. 201, Green Land Apartments, Ameerpet, Hyderabad
- 500016, Telangana, India |
|
Tel. No.: |
91-40-23541535
/ 66621010 / 2340 / 2157 / 2415 |
|
Mobile No.: |
91-9701824061 (Mr. Deva Mahendra Patel) |
|
Fax No.: |
91-40-23402229 |
|
E-Mail : |
mahendrapatel.deva@glandpharma.com |
|
Website : |
|
|
Area : |
4000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate / Marketing
Office : |
MIG-2, Plot No. 48,49,56,57, Near Amma Pharmacy and Super Market, AP
Housing Board Colony, Opposite I.D.P.L. Colony, Balanagar, Chintal, Hyderabad
– 500037, Telangana, India |
|
Tel. No.: |
91-40-50405000 |
|
Area : |
1400 sq. ft. |
|
Locality : |
Residential |
|
|
|
|
Factory 1 : |
Plot No. 9,
Anrich Industrial Estate, Bollaram – 502325, India |
|
|
|
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Factory 2 : |
D. P. Pally
Village, Dunogial P.O. Hyderabad – 500016, Telangana, India |
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|
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Factory 3 : |
Plot No.
C1-C9, Visakhapatnam Special Economic Zone (VSEZ), Duvvada, Visakhapatnam –
530046, Andhra Pradesh, India |
|
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|
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Branch Office : |
Near Ghandi
Maisamma “X” Roads, D. P. Pally, Hyderabad – 500043, Telangana, India |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Ravindranath Penmesta |
||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||
|
Address : |
6-3-865/1/A/303, Green Land Apartments, Ameerpet, Hyderabad – 500016, Telangana, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.10.1956 |
||||||||||||||||||||||||||||||||
|
Qualification : |
Medical Doctor |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.10.2009 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00179939 |
||||||||||||||||||||||||||||||||
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PAN No.: |
AHMPP1651R |
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Other Directorship:
|
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||||||||||||||||||||||||||||||||
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Name : |
Mr. Penmetsa Venkata Narasimha Raju |
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|
Designation : |
Whole-time director |
||||||||||||||||||||||||||||||||
|
Address : |
6-3-865/1/A/303, Green Land Apartments, Ameerpet, Hyderabad – 500016, Telangana, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.05.1933 |
||||||||||||||||||||||||||||||||
|
Qualification : |
Post Graduate |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.12.1979 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00180021 |
||||||||||||||||||||||||||||||||
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PAN No.: |
AFIPP8042G |
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|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Mohammed Moheb Mastan Ali |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
H No. 8-2-676/B/12, Plot No.48 Sai Nagar
Colony, Banjara Hills, Hyderabad –500034, Telangana, India |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
28.08.2006 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00699254 |
||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Qiyu Chen |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Room 8-D, No. 98, West Guangyuan Road,
Shanghai 200030, China |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.10.2017 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
07675421 |
||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Xiaohui Guan |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Room 201, No. 26, Lane 1001, South Henan
Road, Huangpu District, Shanghai 200011, China |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.10.2017 |
||||||||||||||||||||||||||||||||
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DIN No.: |
07675466 |
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|
||||||||||||||||||||||||||||||||
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Name : |
Mr. Yiran Peng |
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Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Room 203, No. 3, Lane 1141, Taolin Rd.,
Pudong New Area, Shanghai 200135, China |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.10.2017 |
||||||||||||||||||||||||||||||||
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DIN No.: |
07675475 |
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|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Yifang Wu |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
L199-199-101,Jiulong, New District Street,
Tongshan District, Xuzhou, Jiangsu 221000, China |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.10.2017 |
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DIN No.: |
07675478 |
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|
||||||||||||||||||||||||||||||||
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Name : |
Udo Jahannes Vetter |
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|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||
|
Address : |
Banneggstrabe 57, Ravensburg 88214 De, Germany |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
07.02.2018 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00707474 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
|
Name : |
Li Dongming |
||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||
|
Address : |
Rm 2601, No. 93, Lane 99, Zhongtan Road, Shanghai 200061
Cn, China |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
07.02.2018 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
08047543 |
||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Narasimha Rao Bandreddi |
|
Designation : |
Chief Finance Officer |
|
Address : |
7-1-48/5/3, Flat No. 401, Sai Madhavi, Enclave, Raja Sham Karam Road, Ameerpet, Hyderabad – 500016, Telangana, India |
|
Date of Birth/Age : |
01.01.1958 |
|
Date of Appointment : |
17.06.2014 |
|
PAN No.: |
AFLPB7703F |
|
|
|
|
Name : |
Sampath Kumar Pallerlamudi |
|
Designation : |
Company Secretary |
|
Address : |
Flat No.102, Venus Residency, Motinagar Near E-Seva, Hyderabad, Hyderabad – 500018, Telangana, India |
|
Date of Appointment : |
17.12.2013 |
|
PAN No.: |
ALTPP1482D |
|
|
|
|
Name : |
Mr. Deva Mahendra Patel |
|
Designation : |
Product Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 27.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
0.08 |
|
Promoters [Bodies
corporate] |
30.53 |
|
Promoters [Others
(Discretionary trusts)] |
11.31 |
|
Public/Other than promoters
[Individual/Hindu Undivided Family (Indian)] |
0.05 |
|
Public/Other than promoters [Non-resident
Indian (NRI)] |
10.02 |
|
Public/Other than promoters [Body corporate] |
48.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and exporter injectable formulations. [Registered activity] |
||||
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|
||||
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Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
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|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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|
|
|
||||||||||||||||||||||||||||||
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Customers : |
|
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
The Oval Office, 18 iLabs Centre, Madhapur, Hyderabad – 500081, Telangana, India |
|
PAN No.: |
ACHFS9118A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises in which directors are
interested as directors, where transactions exists [As on 2016] : |
· Gland Chemicals Private Limited · Nicomac Clean Rooms Fast East Private Limited · Moreschi Asia Doors Private Limited · Wockhardt Limited |
|
|
|
|
Limited Liability Firms in which
directors are interested as partner, where transaction exists [As on 2016] : |
· Dhananjaya Properties LLP · Sasikala Properties LLP |
CAPITAL STRUCTURE
AFTER 27.09.2017
Authorised Capital : INR
243.000 Million
Issued, Subscribed & Paid-up Capital : INR 164.374 Million
AS ON 27.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000000 |
Equity Shares |
INR 10/- each |
INR 180.000 Million |
|
6300000 |
Preference Shares |
INR 10/- each |
INR 63.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 243.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15494949 |
Equity Shares |
INR 10/- each |
INR 154.949
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
154.949 |
156.724 |
117.585 |
|
(b) Reserves and Surplus |
16615.720 |
13785.191 |
8218.921 |
|
(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) |
16770.669 |
13941.915 |
8336.506 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
565.416 |
771.594 |
1072.924 |
|
(b) Deferred tax liabilities (Net) |
650.420 |
423.369 |
393.219 |
|
(c) Other long-term
liabilities |
3.670 |
2.650 |
2.650 |
|
(d) long-term
provisions |
0.000 |
0.000 |
4.088 |
|
Total Non-current
Liabilities (3) |
1219.506 |
1197.613 |
1472.881 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
399.000 |
585.153 |
582.645 |
|
(b) Trade
payables |
885.084 |
655.707 |
984.749 |
|
(c) Other
current liabilities |
1517.687 |
1195.953 |
1479.949 |
|
(d) Short-term
provisions |
71.158 |
5.027 |
9.243 |
|
Total Current
Liabilities (4) |
2872.929 |
2441.840 |
3056.586 |
|
|
|
|
|
|
TOTAL |
20863.104 |
17581.368 |
12865.973 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
7878.798 |
6486.251 |
4597.441 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
2021.033 |
1920.757 |
2078.771 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.725 |
1.725 |
0.525 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
216.318 |
548.592 |
259.803 |
|
(e) Other
Non-current assets |
26.226 |
69.206 |
83.557 |
|
Total Non-Current
Assets |
10144.100 |
9026.531 |
7020.097 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3670.764 |
3211.942 |
3063.594 |
|
(c) Trade
receivables |
3506.853 |
1693.057 |
1682.013 |
|
(d) Cash
and bank balances |
2732.264 |
3156.334 |
771.039 |
|
(e) Short-term
loans and advances |
462.059 |
295.124 |
221.035 |
|
(f) Other
current assets |
347.064 |
198.380 |
108.195 |
|
Total
Current Assets |
10719.004 |
8554.837 |
5845.876 |
|
|
|
|
|
|
TOTAL |
20863.104 |
17581.368 |
12865.973 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
13478.678 |
9938.009 |
9909.206 |
|
|
Other Income |
367.555 |
296.493 |
85.351 |
|
|
TOTAL |
13846.233 |
10234.502 |
9994.557 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
5178.856 |
3943.082 |
4766.223 |
|
|
Purchases of
Stock-in-Trade |
128.321 |
133.567 |
123.854 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
94.901 |
63.811 |
(765.505) |
|
|
Employee benefit expense |
1312.952 |
1056.861 |
814.354 |
|
|
CSR expenditure |
5.000 |
0.000 |
0.000 |
|
|
Other expenses |
1736.312 |
1567.348 |
1364.188 |
|
|
Prior period items |
0.000 |
11.373 |
0.000 |
|
|
TOTAL |
8456.342 |
6776.042 |
6303.114 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
5389.891 |
3458.460 |
3691.443 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
164.151 |
166.947 |
133.759 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
5225.740 |
3291.513 |
3557.684 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
634.592 |
567.205 |
284.235 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
4591.148 |
2724.308 |
3273.449 |
|
|
|
|
|
|
|
Less |
TAX |
1455.084 |
631.641 |
1034.657 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
3136.064 |
2092.667 |
2238.792 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
10259.748 |
7620.899 |
7182.301 |
|
|
TOTAL EARNINGS |
10259.748 |
7620.899 |
7182.301 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
4446.382 |
3068.014 |
4123.041 |
|
|
Capital Goods |
1109.004 |
691.853 |
424.674 |
|
|
TOTAL IMPORTS |
5555.386 |
3759.866 |
4547.714 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
201.45 |
148.57 |
190.40 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
205.974 |
307.788 |
106.284 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
3460.009 |
2191.301 |
2144.941 |
|
Net cash flows from (used in) operating activities |
2240.944 |
1480.517 |
1304.271 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
94.96 |
62.18 |
61.96 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.84 |
5.87 |
5.89 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
60.87 |
58.71 |
73.50 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.47 |
1.08 |
1.20 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.54 |
0.41 |
0.55 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.17 |
0.20 |
0.33 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.07 |
0.12 |
0.21 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.17 |
0.18 |
0.37 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.59 |
0.60 |
0.80 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
32.83 |
20.72 |
27.60 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
23.27 |
21.06 |
22.59 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
15.03 |
11.90 |
17.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
18.70 |
15.01 |
26.86 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.73 |
3.50 |
1.91 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.45 |
2.19 |
0.91 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.80 |
0.79 |
0.65 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
7.55 |
10.62 |
14.98 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.73 |
3.50 |
1.91 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
117.585 |
156.724 |
154.949 |
|
Reserves & Surplus |
8218.921 |
13785.191 |
16615.720 |
|
Net
worth |
8336.506 |
13941.915 |
16770.669 |
|
|
|
|
|
|
Long-term borrowings |
1072.924 |
771.594 |
565.416 |
|
Short term borrowings |
582.645 |
585.153 |
399.000 |
|
Current maturities of
long-term debts |
106.284 |
307.788 |
205.974 |
|
Total
borrowings |
1761.853 |
1664.535 |
1170.390 |
|
Debt/Equity
ratio |
0.211 |
0.119 |
0.070 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
9909.206 |
9938.009 |
13478.678 |
|
|
|
0.291 |
35.628 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
9909.206 |
9938.009 |
13478.678 |
|
Profit/ (Loss) |
2238.792 |
2092.667 |
3136.064 |
|
|
22.59
% |
21.06
% |
23.27
% |
LEGAL CASES
|
CASE STATUS
INFORMATION Case Details
|
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|
CASE STATUS
INFORMATION Case Details
|
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|
CASE STATUS
INFORMATION Case Details
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 |
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 |
No |
|
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 |
No |
|
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION [AS ON 2016]
The company is a public limited Company domiciled in India and is primarily engaged in manufacturing injectable formulations. The Company has presently three divisions namely Bulk Drugs (one unit is in SEZ), Formulations and Research and Development.
PERFORMANCE AND OPERATIONS REVIEW [AS ON
2016]
During the year, the gross income of the Company was INR 13846.233 million as against INR 10234.502 million during the previous year reflecting a growth of 35.28%.
EXPORTS [AS ON 2016]
Exports contribution to the revenue of the Company is 76%. The company exports to almost 50 countries across 6 continents. During the year, the Company has achieved an export turnover of INR 10259.748 million.
DOMESTIC OPERATIONS [AS ON 2016]
The Domestic sales during the year 2015-16 amounts to INR 3315.220 million. Domestic sales include Co-Marketing, which is a major revenue source for the company in Domestic segment.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Deferred payment liabilities |
63.688 |
66.678 |
|
|
|
|
|
Total |
63.688 |
66.678 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G43763648 |
80010646 |
SYNDICATE BANK |
19/02/1979 |
26/03/2013 |
11/05/2017 |
1800000000.0 |
CORPORATE FINANCE BRANCH6-3-666, FIRST FLOOR, LUMBINI TOWERS, SOMAJIGUDA HYDERABAD AP500082IN |
|
2 |
G28445591 |
10364728 |
SYNDICATE BANK |
30/06/2012 |
14/09/2012 |
23/11/2016 |
1000000000.0 |
CORPORATE FINANCE BRANCH6-3-666, FIRST FLOOR, LUMBINI TOWERS, SOMAJIGUDA HYDERABAD AP500082IN |
|
3 |
G03578507 |
80010582 |
THE BANK OF NOVA SCOTIA |
06/09/2005 |
11/01/2014 |
05/05/2016 |
1400000000.0 |
6-3-346/1, ROAD NO 1 BANJARA HILLS HYDERABAD AP500034IN |
|
4 |
G01872159 |
10378069 |
ICICI BANK LIMITED |
10/09/2012 |
31/01/2013 |
07/04/2016 |
1000000000.0 |
ICICI BANK TOWERSPLOT NO.12, GACHIBOWLI HYDERABAD AP500032IN |
|
5 |
B73579302 |
80010628 |
SYNDICATE BANK |
13/12/2004 |
- |
23/04/2013 |
75000000.0 |
CORPORATE FINANCE BRANCH SOMAJIGUDA HYDERABAD AP500082IN |
|
6 |
B73564262 |
80010633 |
SYNDICATE BANK |
25/05/2001 |
- |
23/04/2013 |
50000000.0 |
CORPORATE FINANCE BRANCH SOMAJIGUDA HYDERABAD AP500082IN |
|
7 |
B14214571 |
80010596 |
TECHNOLOGY DEVELOPMENT BOARD |
28/03/2002 |
- |
24/05/2011 |
35000000.0 |
DEPARTEMNT OF SCIENCE AND TECHNOLOGYTECHNOLOGY BHAVAN, NEW MEHRAULI ROAD NEW DELHI DL110016IN |
|
8 |
B12785267 |
80010631 |
SYNDICATE BANK |
20/06/2002 |
- |
11/05/2011 |
300000.0 |
CORPORATE FINANCE BRANCH SOMAJIGUDA HYDERABAD AP500082IN |
|
9 |
B10287142 |
80010591 |
EXPORT IMPORT BANK OF INDIA |
26/06/2002 |
- |
24/03/2011 |
108000000.0 |
CENTRE ONEWORLD TRADE CENTRE MUMBAI MH400005IN |
|
10 |
B10486975 |
80010996 |
EXPORT IMPORT BANK OF INDIA |
09/09/2004 |
- |
24/03/2011 |
100000000.0 |
CENTRE ONE, WORLD TRADE CENTRE CUFFE PARADE MUMBAI MH400005IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
PRESS RELEASE:
INDIA RAISES CONCERNS
AROUND CHINESE FIRM FOSUN'S TAKEOVER OF GLAND: SOURCE
AUGUST 01, 2017
The deal has won the approval of the Competition Commission of India (CCI) and India's Foreign Investment Promotion Board (FIPB) in the last few months, but some in the government have expressed concerns, the source said, declining to be named.
India has privately raised objections to
Chinese firm Shanghai Fosun Pharmaceutical Group's proposed $1.3 billion
takeover of Indian drugmaker Gland Pharma, a source familiar with the matter
said on Monday.
The deal has won the approval of the
Competition Commission of India (CCI) and India's Foreign Investment Promotion
Board (FIPB) in the last few months, but some in the government have expressed
concerns, the source said, declining to be named.
Chinese authorities have approved the
takeover of the injectable drugmaker, but it is awaiting a nod from the Cabinet
Committee on Economic Affairs of India, Shanghai Fosun said in a statement to
Reuters.
The closing of the deal, which would be
China's largest ever acquisition in India if approved, has now been extended to
Sept. 26, the company added.
Shanghai Fosun Chairman
Chen Qiyu said in a filing to the Hong Kong bourse on Tuesday that India had
not informed Gland Pharma of the result of its review of the acquisition.
Private-equity backed Gland
Pharma and the cabinet committee, chaired by Indian Prime Minister Narendra
Modi, did not immediately respond to requests for comment on Monday.
Based in the southern
Indian city of Hyderabad, Gland owns four factories from where it supplies a
variety of injectables – widely used medicines administered through vials,
syringes, bags and pumps, which are harder to make than regular drugs.
Bloomberg, citing people
familiar with the matter, reported earlier in the day that the cabinet
committee was poised to block the deal, though neither company had been
formally notified of the move yet.
India's Finance Ministry
spokesman D.S. Malik told Reuters that report was "totally
speculative" and that the matter had not yet come before the committee.
The objections come against
a backdrop of heightened India-China tensions. The two countries are embroiled
in a stand-off around India's north eastern border.
India's concerns over the
Gland-Fosun deal are not, however, a result of the border tensions, the source
said.
"They have more to do
with giving control of a large pharma company to a Chinese entity that itself
is facing questions from the regulators at home," the source said.
China's
banking regulator has ordered a group of lenders to assess their exposure to
offshore acquisitions by a handful of companies, including Fosun, that have
been on an overseas buying spree, sources told Reuters last month.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.61 |
|
|
1 |
INR 94.21 |
|
Euro |
1 |
INR 81.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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.