|
|
|
MIRA INFORM REPORT
|
Report No. : |
504262 |
|
Report Date : |
19.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
ALIVIRA ANIMAL HEALTH LIMITED |
|
|
|
|
Registered
Office : |
301, 3rd Floor, Dosti Pinnacle, Plot No. E7, Road No. 22, Wagle
Industrial Estate, Thane (West), Mumbai – 400604, Maharashtra |
|
Tel. No.: |
91-22-41114777 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
30.09.2013 |
|
|
|
|
Com. Reg. No.: |
11-248708 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 414.063 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74120MH2013PLC248708 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0314001930 |
|
|
|
|
TIN No.: |
27831049080 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAMCA0621Q1ZE |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMCA0621Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Veterinary Products, Veterinary
Active Pharmaceutical Ingredients and Veterinary Formulations and Importer of
Raw Material. (Registered and activity and also Confirmed by management) |
|
|
|
|
No. of Employees
: |
700 (Approximately) |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 8100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2013. It is a wholly owned
subsidiary of Sequent Scientific Limited. The company is a manufacturer and exporter of veterinary products, veterinary
API and veterinary formulation. It is also an importer of raw Material. As per the Registrar of Companies date of balance sheet (i.e.
financial filed) is shown as 31.03.2017 but document related to the financial
for the year 31.03.2017 are not available from any sources. As per the financial of 2016, the company has achieved decent growth
in its revenue as compared to the previous year’s revenue but has incurred
operational losses. Rating takes into consideration the strength that the company derives
from its holding company and its experienced management team. Rating is constrained on account of absence of latest financial
records of the company. Business is active. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and company. |
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 |
ICRA |
|
Rating |
Long Term Loans = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
16.03.2018 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Loans = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
16.03.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is not
listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 19.04.2018
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 PARTED BY
|
Name : |
Ms. Pooja |
|
Designation : |
Marketing Department |
|
Contact No.: |
91-9769329139 |
|
Date : |
18.04.2018 |
LOCATIONS
|
Registered Office : |
301, 3rd Floor, Dosti Pinnacle, Plot No. E7, Road No. 22,
Wagle Industrial Estate, Thane (West), Mumbai – 400604, Maharashtra, India |
|
Tel. No.: |
91-22-41114777 |
|
Mobile No.: |
91-9769329139 (Ms. Pooja) |
|
Fax No.: |
91-22-41114754 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
Locality : |
Industrial |
|
|
|
|
Factory 1 : |
Plot No. 104 to 109, Part of 112 and 113, JNPC Sez, Parawada Mandal,
Vishakhapatnam – 530019, Andhra Pradesh, India |
|
Area : |
Owned |
|
|
|
|
Factory 2 : |
A-68, Ambernath MIDC, Induatrial Area, Thane, Maharashtra, India |
|
Tel. No.: |
91-80-67840338 |
|
|
|
|
Warehouse : |
Building No. C-5, Bhagwan Seth Estate, Purna Village, Bhiwandi, Thane
– 421302, Maharashtra, India |
|
|
|
|
Corporate Office : |
Opposite IAMB, Bilekahali, Bannerghatta Road, Bangalore – 560076,
Karnataka, India |
|
Tel. No.: |
91-80-67840338 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Gopakumar Gopalan Nair |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
C-002/003,Gokul Plaza,, Thakur Complex, Kandivali (East), Mumbai -
400101, Maharashtra, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.06.1941 |
||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2013 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00092637 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sharat Pandu Rang Narasapur |
||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||
|
Address : |
Flat No. 102, Angelo Building, Patlipada Thane - 400607, Maharashtra,
India |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.01.2017 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
02808651 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Manish Gupta |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
401, Nirman Palace - E, Pump House, Andheri (East), Mumbai - 400093,
Maharashtra, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.04.1967 |
||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
12.11.2014 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
06805265 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Huseyin Aydin |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Fenerbache Mah. Atlihan Sok., 20/3 No:4 Kadikoy, Istanbul,
34744, Turkey |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.04.1961 |
||||||||||||||||||||||||||||||||
|
Qualification : |
Vet Doctor |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
16.03.2015 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
07091670 |
||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Kalpana Sabyasachi Mukherjee |
||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||
|
Address : |
11/ 1001, Shubharambh Towers CHS Limited, Manpada,
Ghodbunder Road, Thane – 400607, Maharashtra, India |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
09.02.2018 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
08029140 |
||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Ms. Pooja |
|
Designation : |
Marketing Department |
|
|
|
|
Name : |
Tushar Pravinchandra Mistry |
|
Designation : |
Chief Financial Officer |
|
Address : |
Flat A-14/603, Happy Valley Homes, Chitalsar, Manpada Thane 400607, Maharashtra, India |
|
Date of Appointment : |
11.02.2017 |
|
PAN No: |
ADVPM5064G |
|
|
|
|
Name : |
Ms. Vinit Tanna |
|
Designation : |
Company Secretary |
|
Address : |
B-402, Mohan Paradise Phase - 1, Opposite Rita Memoria Wayle
Nagar, Kalyan (West), Kalyan - 421301, Maharashtra, India |
|
Date of Appointment : |
23.05.2017 |
|
PAN No: |
AOQPT6059N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Sequent Scientific Limited, India |
|
41406268 |
|
Kannan P R |
|
1 |
|
Gautam Kumar Das |
|
1 |
|
Manish Gupta |
|
1 |
|
Shridhar Kela |
|
1 |
|
Preetham Hebbar |
|
1 |
|
Sini PG |
|
1 |
|
Total |
|
41406274 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Veterinary Products, Veterinary
Active Pharmaceutical Ingredients and Veterinary Formulations and Importer of
Raw Material. (Registered and activity and also Confirmed by management) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
Asian Countries |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Advance payment, L/C, and Cheque and RTGS |
||||
|
|
|
||||
|
Purchasing : |
Advance payment, L/C, and Cheque and RTGS |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesale
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
700 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Centre Anchorage II, 100/2 Richmond Road, Bangalore – 560025, Karnataka, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD3771D |
|
|
|
|
Secretarial Audit Report |
|
|
Name : |
B G and Associates |
|
Address : |
463 10th, Main 13th Cross, Wilson Garden, Bangalore, Karnataka, India |
|
PAN No.: |
AFEPB1455R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
U24110MH2002PLC136868 |
|
|
|
|
Subsidiary company: |
|
|
|
|
|
Fellow Subsidiary
company: |
U24232KA2007PLC042483
U24233KA2010PTC053548 |
CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
158000000 |
Equity Shares |
INR 10/- each |
INR 1580.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41406000 |
Equity Shares |
INR 10/- each |
INR 414.060
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 |
414.060 |
1473.100 |
200.500 |
|
(b) Reserves and Surplus |
2414.450 |
690.380 |
(1.480) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
180.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2828.510 |
2163.480 |
379.020 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1093.270 |
1237.500 |
500.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
19.900 |
11.800 |
0.000 |
|
Total Non-current
Liabilities (3) |
1113.170 |
1249.300 |
500.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
672.410 |
229.800 |
0.000 |
|
(b) Trade
payables |
257.380 |
516.500 |
4.400 |
|
(c) Other
current liabilities |
206.650 |
108.210 |
1.300 |
|
(d) Short-term
provisions |
1.960 |
1.210 |
0.000 |
|
Total Current
Liabilities (4) |
1138.400 |
855.720 |
5.700 |
|
|
|
|
|
|
TOTAL |
5080.080 |
4268.500 |
884.720 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1838.800 |
1741.810 |
0.000 |
|
(ii)
Intangible Assets |
704.110 |
254.630 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
5.960 |
110.340 |
55.910 |
|
(iv)
Intangible assets under development |
0.000 |
194.400 |
0.000 |
|
(b) Non-current Investments |
680.820 |
311.010 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
40.510 |
69.340 |
439.240 |
|
(e) Other
Non-current assets |
10.340 |
10.140 |
7.500 |
|
Total Non-Current
Assets |
3280.540 |
2691.670 |
502.650 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
288.710 |
183.500 |
0.000 |
|
(c) Trade
receivables |
526.980 |
420.020 |
0.000 |
|
(d) Cash and
bank balances |
25.760 |
23.650 |
156.290 |
|
(e)
Short-term loans and advances |
926.540 |
946.150 |
225.590 |
|
(f) Other
current assets |
31.550 |
3.510 |
0.190 |
|
Total
Current Assets |
1799.540 |
1576.830 |
382.070 |
|
|
|
|
|
|
TOTAL |
5080.080 |
4268.500 |
884.720 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2057.630 |
1216.240 |
0.000 |
|
|
Other Income |
35.960 |
141.110 |
11.450 |
|
|
TOTAL |
2093.590 |
1357.350 |
11.450 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
636.060 |
225.280 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
668.250 |
697.110 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(113.810) |
(66.970) |
0.000 |
|
|
Employee benefit expense |
222.110 |
79.740 |
0.000 |
|
|
Other expenses |
482.580 |
343.970 |
12.520 |
|
|
Exceptional items before tax |
4.410 |
0.000 |
0.000 |
|
|
TOTAL |
1899.600 |
1279.130 |
12.520 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
193.990 |
78.220 |
(1.070) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
205.730 |
65.450 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(11.740) |
12.770 |
(1.070) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
273.220 |
58.350 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(284.960) |
(45.580) |
(1.070) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.410 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(284.960) |
(45.580) |
(1.480) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1336.300 |
907.680 |
0.000 |
|
|
TOTAL EARNINGS |
1336.300 |
907.680 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
83.480 |
20.970 |
0.000 |
|
|
Capital Goods |
11.370 |
5.460 |
0.000 |
|
|
TOTAL IMPORTS |
94.850 |
26.430 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(7.53) |
(1.54) |
(0.10) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
144.230 |
0.000 |
0.000 |
|
Net cash flows from (used in) operations |
503.470 |
(133.180) |
(38.780) |
|
Net cash flows from (used in) operating activities |
501.850 |
(139.140) |
(39.510) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
91.87 |
112.95 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.97 |
3.23 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
72.03 |
204.38 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.67 |
0.43 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.08 |
0.03 |
(0.02) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.44 |
0.49 |
0.57 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.62 |
0.68 |
1.32 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.40 |
0.40 |
0.02 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.90 |
1.06 |
0.15 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
0.94 |
1.20 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(13.61) |
(3.36) |
(12.93) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(5.61) |
(1.07) |
(0.17) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(10.07) |
(2.11) |
(0.39) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.58 |
1.84 |
67.03 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.33 |
1.63 |
67.03 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.56 |
0.51 |
0.43 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.61 |
1.00 |
2.49 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.58 |
1.84 |
67.03 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
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 |
200.500 |
1473.100 |
414.060 |
|
Reserves & Surplus |
(1.480) |
690.380 |
2414.450 |
|
Share Application money
pending allotment |
180.000 |
0.000 |
0.000 |
|
Net
worth |
379.020 |
2163.480 |
2828.510 |
|
|
|
|
|
|
Long-term borrowings |
500.000 |
1237.500 |
1093.270 |
|
Short term borrowings |
0.000 |
229.800 |
672.410 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
144.230 |
|
Total
borrowings |
500.000 |
1467.300 |
1909.910 |
|
Debt/Equity
ratio |
1.319 |
0.678 |
0.675 |
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 |
0.000 |
1216.240 |
2057.630 |
|
|
0.000 |
0.000 |
69.180 |
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 |
0.000 |
1216.240 |
2057.630 |
|
Profit/ (Loss) |
(1.480) |
(45.580) |
(284.960) |
|
|
0.000 |
(3.75
%) |
(13.85
%) |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
414.060 |
1473.100 |
|
(b) Reserves and Surplus |
|
2363.820 |
596.310 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
220.180 |
215.130 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2777.880 |
2069.410 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1622.570 |
1842.280 |
|
(b) Deferred tax liabilities (Net) |
|
1.620 |
16.380 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
34.810 |
20.140 |
|
Total Non-current
Liabilities (3) |
|
1659.000 |
1878.800 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
947.760 |
238.480 |
|
(b) Trade
payables |
|
500.000 |
607.720 |
|
(c) Other
current liabilities |
|
429.630 |
183.900 |
|
(d) Short-term
provisions |
|
64.580 |
25.000 |
|
Total Current Liabilities
(4) |
|
1941.970 |
1055.100 |
|
|
|
|
|
|
TOTAL |
|
6599.030 |
5218.440 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
2264.700 |
1982.250 |
|
(ii) Intangible
Assets |
|
706.810 |
254.630 |
|
(iii) Tangible assets
capital work-in-progress |
|
8.360 |
139.080 |
|
(iv)
Intangible assets under development |
|
0.000 |
194.400 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
41.690 |
98.340 |
|
(e) Other
Non-current assets |
|
1492.210 |
626.270 |
|
Total Non-Current
Assets |
|
4513.770 |
3294.970 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
46.890 |
5.040 |
|
(b)
Inventories |
|
641.590 |
285.640 |
|
(c) Trade
receivables |
|
966.780 |
553.970 |
|
(d) Cash and
bank balances |
|
176.140 |
84.300 |
|
(e)
Short-term loans and advances |
|
222.080 |
991.010 |
|
(f) Other
current assets |
|
31.780 |
3.510 |
|
Total
Current Assets |
|
2085.260 |
1923.470 |
|
|
|
|
|
|
TOTAL |
|
6599.030 |
5218.440 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
|
2978.850 |
1426.630 |
|
|
Other Income |
|
33.340 |
147.700 |
|
|
TOTAL |
|
3012.190 |
1574.330 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
777.610 |
270.890 |
|
|
Purchases of
Stock-in-Trade |
|
834.140 |
697.110 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(39.220) |
(71.750) |
|
|
Employee benefit expense |
|
413.880 |
120.830 |
|
|
CSR expenditure |
|
0.000 |
0.000 |
|
|
Other expenses |
|
733.080 |
468.430 |
|
|
Exceptional items before tax |
|
31.530 |
0.000 |
|
|
TOTAL |
|
2751.020 |
1485.510 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
261.170 |
88.820 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
252.640 |
80.360 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
8.530 |
8.460 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
303.620 |
68.550 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(295.090) |
(60.090) |
|
|
|
|
|
|
|
Less |
TAX |
|
28.970 |
14.580 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(324.060) |
(74.670) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(7.826) |
(1.795) |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BUSINESS PERFORMANCE
REVIEW
During the financial year 2015-16, on a standalone basis, the Company's revenues stood at INR 2,093.590 Million as against INR 1357.350 Million in 2014-15. The Company posted an EBITDA of INR 198.400 Million in the year as against INR 78.220 Million in 2014-15. The Company made a net loss of INR 284.960 Million.
On a consolidated basis, the Company's revenue for the year 2015-16 stood at INR 3012.190 Million as against INR 1,574.330 Million in 2014-15. The Company posted an EBITDA of INR 292.700 Million for the year 2015-16 as against INR 88.820 Million in 2014-15. On a consolidated level, the Company made a loss of INR 324.060 Million.
Business Overview
- Strategic progression from API driven model to formulation led business
- Expansion to new geographies globally and strengthened in existing markets Corporate Actions
- Acquisition of animal health business division of Lyka, an initiative to strengthen the Company’s cattle and dairy business in
- India.
- Fortification of Company’s positioning in Turkey’s animal health market by acquiring Topkim Ilac Premiks San. ve Tic. A.S making the Company Turkey’s largest animal health company in Turkey.
- Foray into European veterinary market through acquisition of N-Vet AB and Fendigo. These Companies have established a strong front-end presence for the Company in the European markets.
- Material changes and commitments affecting the financial position of the Company, which have occurred between the end of financial year and the date of this report.
The following transactions/ proposed transactions occurred between the end of financial year i.e., March 31, 2016 and the date of this report:
- Acquisition of 60% stake in Karizoo Group, Spain, one of the leading animal health groups in Spain and European markets on July 1, 2016.
- Acquisition of 70% stake in Interchange Veterinária Indústria E Comércio S.A., Brazil on August 1, 2016, which will provide a foothold in the hugely attractive and fast growing Brazilian market
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term borrowings |
|
|
|
Loans and advances from related parties |
578.230 |
0.000 |
|
|
|
|
|
Total |
578.230 |
0.000 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G40259830 |
100088303 |
RBL BANK LIMITED |
06/03/2017 |
- |
- |
650000000.0 |
SHAHUPURI, KOLHAPUR, KOLHAPUR – 416001, MAHARASHTRA, INDIA |
|
2 |
G06956197 |
100036864 |
Central Bank of India |
09/06/2016 |
- |
- |
600000000.0 |
No. 71, Sona Towers, Millers Road, Bangalore – 560052, Karnataka, India |
|
3 |
C44674299 |
10531860 |
EXPORT IMPORT BANK OF INDIA |
29/10/2014 |
30/01/2015 |
- |
660000000.0 |
Floor 21, Centre One Building, World Trade Centre Complex, Cuffe Parade, Mumbai- 400005, MAHARASHTRA, INDIA |
|
4 |
G27613280 |
10491486 |
RBL BANK LIMITED |
23/04/2014 |
27/10/2016 |
- |
700000000.0 |
SHAHUPURI, KOLHAPUR, KOLHAPUR – 416001, MAHARASHTRA, INDIA |
|
5 |
C44671006 |
10490058 |
EXPORT IMPORT BANK OF INDIA |
25/03/2014 |
30/01/2015 |
- |
1250000000.0 |
Centre One Building, World Trade Centre Complex, Cuffe Parade, Mumbai - 400005, MAHARASHTRA, INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Guarantees |
643.610 |
647.810 |
|
Other money for which company is contingently liable |
95.770 |
65.330 |
FIXED ASSETS
Tangible assets
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipments
- Office equipment
- Leasehold improvements
Intangible assets
- Goodwill
- Brands and trade marks
- Computer software
- Copyrights, patents and other operating rights
PRESS RELEASE
SEQUENT SCIENTIFIC
ARM BUYS CADILA’S ANIMAL HEALTH BIZ IN GERMANY
18 April, 2018
Mumbai-based pharmaceutical company SeQuent Scientific Ltd has said that its subsidiary Alivira Animal Health Limited has acquired 100% stake in Cadila Healthcare’s animal health business in Germany in a cash deal.
According to separate stock exchange filings, Alivira Animal Health, through Alivira Ireland, has bought Bremer Pharma GmbH from Cadila for an enterprise value of 2.26 million euros ($2.8 million or Rs 18.3 crore).
Manish Gupta, managing director of SeQuent Scientific, said the acquisition will give the firm a comprehensive manufacturing footprint in the European Union across injectables, orals, solids, and powder range and front-end presence in six out of the top 10 EU markets.
Founded in 1982, Bremer Pharma is a veterinary health company in Germany which focuses on the cattle and swine segments. It has an injectable manufacturing facility.
Bremer has a portfolio of more than 400 registered products including vitamins and antibiotics across Europe, Far East, Middle East and North Africa (MENA), Russia and Africa.
It registered sales of 6.7 million euros ($8.3 million) for the year ending 31 March 2018 with marginal losses.
SeQuent Scientific operates in the domains of animal health, human health and analytical services. It has seven manufacturing facilities based in India, Spain, Germany, Brazil and Turkey.
The company’s consolidated net sales for the financial year 2016-17 stood at INR 9150.000 Million and it registered a net loss of INR 160.000 Million.
SeQuent functions in the animal health business through its subsidiary, Alivira Animal Health.
SeQuent has been ramping up its animal healthcare business in recent years through a series of acquisitions.
In May 2016, it acquired 60% stake in Spanish animal health firm Karizoo Group for $8.2 million (INR 550.000 Million).
Before that, Alivira picked up 70% stake in veterinary products maker Interchange Brazil for $3.6 million in cash.
In November 2015, Alivira acquired Turkey’s Topkim Premiks San at an enterprise value of about $7.2 million.
In August that year, it bought animal healthcare division of Mumbai-based small drug manufacturer Lyka Labs Limited.
Like this report? Sign up for our daily newsletter to get our top reports.
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 65.68 |
|
|
1 |
INR 93.98 |
|
Euro |
1 |
INR 81.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
ARC |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
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.