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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

504842

Report Date :

24.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

MYLAN LABORATORIES LIMITED (w.e.f. 05.10.2011)

 

 

Formerly Known As :

MATRIX LABORATORIES LIMITED (w.e.f. 21.03.2001)

 

HERREN DRUGS AND PHARMACEUTICALS LIMITED (w.e.f. 27.06.1994)

 

HERREN DRUGS LIMITED (w.e.f. 19.10.1992)

 

HERREN DRUGS PRIVATE LIMITED

 

 

Registered Office :

Plot No.564/A/22, Road No.92, Jubilee Hills, Hyderabad – 500033, Telangana

Tel. No.:

91-40-30496666 / 23550543

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

29.11.1984

 

 

Com. Reg. No.:

36-005146

 

 

Capital Investment / Paid-up Capital :

INR 487.030 Million

 

 

CIN No.:

[Company Identification No.]

U24231TG1984PLC005146

 

 

IEC No.:

[Import-Export Code No.]

0988008858

 

 

PAN No.:

[Permanent Account No.]

AADCM3491M

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Divulged

 

 

GSTN :

[Goods & Service Tax Registration No.]

36AADCM3491M1Z2

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Subject is engaged in the manufacture of Active Pharmaceutical Ingredients, Finished Dosage Formulations, Injectables and research and development activities (Registered Activity)

 

 

No. of Employees :

Not Divulged

 

 

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 232000000

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is a subsidiary of “MP Laboratories (Mauritius) Limited, Mauritius” and was incorporated in the year 1984. It is having excellent track.

 

For the financial year 2017, the company has increased its revenue from operations as compared to previous year but reported losses.

 

However, rating takes into consideration strong financial profile of the company marked by healthy networth base and average debt balance sheet.

 

Further, the company also derives strength from its strong holding company support, established market position along with presence in various therapeutic segments and geographical diversity.

 

However, these rating strengths are partially offset by working capital-intensive operations and exposure to increasing regulatory scrutiny and competition in the global generics market.

 

Trade relations are reported as fair. Payments are seems to be regular.

 

In view of established market position, 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

CRISIL

Rating

Long term rating : AA-

Rating Explanation

High degree of safety and very low credit risk

Date

29.03.2018

 

 

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 24.04.2018

 

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

 

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

 

INFORMATION DENIED BY

 

Name :

Mr. Sachin

Designation :

Accounts Department

Contact No.:

91-80-66278000

Date :

20.04.2018

 

(Tel No.: 91-40-30496666/ 23550543 - Continuously Ringing)

 

LOCATIONS

 

Registered Office :

House No. 8-2-293/82/J III, Plot No.564/A/22, Road No.92, Jubilee Hills, Hyderabad – 500033, Telangana, India

Tel. No.:

91-40-30496666 / 23550543

Fax No.:

91-40-27700343 / 30866699

E-Mail :

mylan.india@mylan.in

nagaraj.bodige@mylan.in

Website :

www.mylanlabs.in

 

 

Corporate Office :

F-4 and F-12, MIDC Malegaon, Sinnar, Nashik – 422113, Maharashtra, India

 

 

Branch Office 1 :

7th Floor, Tower 2B, Indiabulls Centre, 841, Senapati Bapat Marg, Elphinstone Road (West), Mumbai – 400021, Maharashtra, India

 

 

Branch Office 2 :

Nirmal, 20th Floor, Nariman Point, Mumbai – 400021, Maharashtra, India

 

 

Factory 1 :

Plot No. H – 12, MIDC Waluj Industrial Area, Aurangabad-431136, Maharashtra, India

 

 

Factories :

Also Located at :

 

·         Hyderabad (4 Factories)

·         Maharashtra  (2 Factories)

·         Indore (1 Factory)

·         Andhra Pradesh (2 Factories)

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Rakesh Bamzai

Designation :

Managing Director

Address :

No.79/12, Tuisi Sunny Brooks, Sarjapur Road, Doddakannahalli, Bangalore – 560035, Karnataka, India

Date of Birth/Age :

01.10.1965

Qualification :

B. Sc (Tech)

Date of Appointment :

01.11.2014

PAN No.:

AANPB2957J

DIN No.:

06997113

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U74999MH2015PLC262055

JAI PHARMA LIMITED

20/11/2015

-

 

 

Name :

Ms. Sarada Kalyani Bhagawati

Designation :

Whole-Time Director

Address :

H No. 1-1-380 / 38, Ashok Nagar Extension, Hyderabad – 500020, Telangana, India

Date of Birth/Age :

29.09.1968

Qualification :

CA, ICWA

Date of Appointment :

01.11.2014

PAN No.:

ACXPB3665R

DIN No.:

02680074

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U24239TG2005PLC047551

ASTRIX LABORATORIES LIMITED

30/09/2009

-

U24230MH1996PTC097728

MADAUS PHARMACEUTICALS PRIVATE LIMITED

26/09/2017

-

 

 

Name :

Mr. Rajiv Krishan Luthra

Designation :

Director

Address :

3/15, Shanti Niketan, New Delhi – 110021, India

Date of Birth/Age :

01.08.1957

Qualification :

LL.M

Date of Appointment :

14.08.2015

PAN No.:

AAAPL9458K

DIN No.:

00022285

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U74140DL2007PTC157347

MYLAN LABORATORIES INDIA PRIVATE LIMITED

03/01/2007

-

L74300MH2005PLC281753

TV18 BROADCAST LIMITED

29/09/2016

-

L70101HR1963PLC002484

DLF LIMITED

29/08/2014

-

U74300DL2008PTC185178

AFC NETWORK INDIA PRIVATE LIMITED

24/11/2008

-

U74110GJ2001PLC096846

LODHI PROPERTY COMPANY LIMITED

29/11/2002

-

U74899DL1996PLC082842

VLCC HEALTH CARE LIMITED

28/06/2016

-

L65910MH1996PLC280969

NETWORK18 MEDIA AND INVESTMENTS LIMITED

24/09/2015

-

U73100DL2016NPL290319

PAANI FOUNDATION

28/01/2016

-

AAA-0483

LUTHRA AND LUTHRA LAW OFFICES LLP

15/12/2009

-

AAJ-2581

PETROLEUM HELICOPTERS INDIA LLP

25/04/2017

-

AAJ-3903

FIRST CIRCLE HOLDINGS LLP

16/05/2017

-

 

 

Name :

Mr. Mohit Saraf

Designation :

Director

Address :

Farm No 2, Kapashera Village, Farm House, Delhi – 110037, India

Date of Birth/Age :

19.11.1966

Qualification :

LL.M

Date of Appointment :

14.08.2015

PAN No.:

AKAPS4446E

DIN No.:

00057284

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U74140DL2007PTC157347

MYLAN LABORATORIES INDIA PRIVATE LIMITED

03/01/2007

-

U65993DL2008PTC178222

GIP INVESTMENT ADVISORS (INDIA) PRIVATE LIMITED

26/08/2009

-

LLPIN/FLLPIN

LLP Name

Begin Date

End Date

AAA-0483

LUTHRA AND LUTHRA LAW OFFICES LLP

15/12/2009

-

 

 

Name :

Mr. Malik Rajiv

Designation :

Director

Address :

B-6B, Gangotri Enclave, Alaknanda, New Delhi – 110019, India

Date of Birth/Age :

12.03.1961

Qualification :

M. Pharm (Degree in Pharmaceutical Industry)

Date of Appointment :

01.07.2008

PAN No.:

ADHPM8833H

DIN No.:

00120557

 

 

KEY EXECUTIVES

 

Name :

Mr. Sarada Kalyani Bhagawati

Designation :

Chief Financial Officer

Address :

H. No. 1-1-380/38, Ashok Nagar Extension, Hyderabad – 500020, Telangana, India

Date of Birth/Age :

29.09.1968

Qualification :

CA,ICWA

Date of Appointment :

01.11.2014

PAN No.:

ACXPB3665R

 

 

Name :

Mr. Rakesh Bamzai

Designation :

Chief Executive Officer

Address :

No. 79/12, Tulsi Sunny Brooks, Sarjapur Road, Doddakannahalli, Bangalore – 560035, Karnataka, India

Date of Birth/Age :

01.10.1965

Qualification :

B.Sc (Tech)

Date of Appointment :

01.11.2014

PAN No.:

AANPB2957J

 

 

Name :

Mr. Nagaraj Goud Bodige

Designation :

Company Secretary

Address :

H. No. 5-14-88, Indiranagar Colony II, APHB Colony, Movlali, Hyderabad – 500040, Telangana, India

Date of Birth/Age :

02.12.1977

Qualification :

Company Secretary, LL.B

Date of Appointment :

25.07.2011

PAN No.:

AGYPB3840P

 

 

Name :

Mr. Sachin

Designation :

Accounts Department

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders

 

No. of Shares

MP Laboratories (Mauritius) Limited, Mauritius

 

157402332

Mylan Luxembourg 2 S.a.r.l

 

28508547

Mylan Group B.V.

 

57601744

B. Hari Babu

 

2

Sarada Kalyani Bhagawati

 

2

Yasir Rawjee jointly held with Mylan Luxembourg 2 S.a.r.l.

 

2

Rajeev Mukundan

 

2

Susanto Banerjee

 

2

B. Nagaraj Goud

 

2

 

 

 

Total

 

243512635

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 22.09.2017

 

Category

Percentage

Promoters (Bodies corporate)

99.99999507

Public/Other than promoters (Individual/Hindu Undivided Family – Indian)

0.00000493

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the manufacture of Active Pharmaceutical Ingredients, Finished Dosage Formulations, Injectables and research and development activities (Registered Activity)

 

 

Products / Services :

Item Code No.

Products/Services Description

30049099

Tenofovir 300 mg + Lamivudine 300 mg+ Efavirenz 600 mg

30049099

Tenofovir 300 mg + Emtricitabine 200 mg + Efavirenz 600 mg

30049099

Lamivudine 150 mg + Zidovudine 300 mg + Nevirapine 200 mg

30049099

Atazanavir 300 mg + Ritonavir 100 mg

30049099

Lopinavir 200 mg + Ritonavir 50 mg

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

Banker Name :

Not Divulged

Branch :

--

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountants

Address :

Gowra Grand, III Floor, 1-8-1-384 and 385, SP Road, Secunderabad – 500003, Telangana, India 

Income-tax PAN of auditor or auditor's firm :

AACFD3771D

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Ultimate holding company :

Mylan N.V., Netherlands

 

 

Holding company :

MP Laboratories (Mauritius) Limited

 

 

Subsidiary company :

Famy Care Europe Limited (w.e.f. 21 November 2015)

 

 

Firm in which Independent directors are partners :

 Luthra & Luthra

 

 

Fellow Subsidiaries :

·         Mylan Pharmaceuticals Inc.

·         Agila Specialties Global Pte. Limited

·         Mylan Pharmaceuticals ULC

·         Agila Specialties Inc.

·         Mylan Seiyaku Limited

·         Mylan (Pty) Limited

·         Gerard Laboratories Limited

·         Mylan Teoranta

·         Alphapharm Pty. Limited

·         Mylan Inc., USA

·         Mylan Pharmaceuticals Private Limited

·         Agila Especialidades Farmaceutica Ltda

·         Mylan Pharma UK Limited

·         Mylan Brasil Distribuidora

·         Mylan Technologies, Inc.

·         Mylan Group B.V.

·         Mylan S.A.S.

·         Mylan Luxembourg S.A.R.L

·         Mylan New Zealand Limited

·         Mylan Taiwan Limited

·         Xixia Pharmaceuticals (Pty) Limited

·         Mylan FZ LLC

·         Mylan Ireland Limited

·         Mylan B.V

·         Mylan S.p.A

·         Mylan Laboratorios Limiteda.

·         Mylan Institutional Inc.

·         Arcana Arzneimittel GmbH

·         Mylan Laboratories Inc.

·         Mylan EPD GK Japan

·         Mylan Luxembourg 2 S.a.r.l

·         Agila Specialties Polska sp. Z.o.o

·         Farma Plus AS

·         Sagent Agila LLC

 

CAPITAL STRUCTURE

 

As on 22.09.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

350000000

Equity Shares

INR 2/- each

INR 700.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

243512635

Equity Shares

INR 2/- each

INR 487.025 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

487.030

487.030

378.560

(b) Reserves & Surplus

80639.310

83421.290

45010.120

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

1742.130

Total Shareholders’ Funds (1) + (2)

81126.340

83908.320

47130.810

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

87386.620

87162.070

67782.740

(b) Deferred tax liabilities (Net)

0.000

665.040

3429.760

(c) Other long term liabilities

4072.070

5354.870

1745.640

(d) long-term provisions

457.770

427.530

354.440

Total Non-current Liabilities (3)

91916.460

93609.510

73312.580

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

2010.470

4405.640

1102.410

(b) Trade payables

15781.100

18153.910

16371.760

(c) Other current liabilities

9695.070

8863.110

9932.830

(d) Short-term provisions

1010.640

900.590

318.960

Total Current Liabilities (4)

28497.280

32323.250

27725.960

 

 

 

 

TOTAL

201540.080

209841.080

148169.350

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

36096.210

34811.900

30990.220

(ii) Intangible Assets

65281.570

73278.470

29109.470

(iii) Capital work-in-progress

7620.560

2654.710

1766.270

(iv) Intangible assets under development

0.000

5392.000

7646.000

(b) Non-current Investments

2.330

2.330

2.250

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

5619.260

6553.500

5536.540

Total Non-Current Assets

114619.930

122692.910

75050.750

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

1627.900

(b) Inventories

34772.530

37593.250

31571.150

(c) Trade receivables

35981.040

31263.340

21396.870

(d) Cash and cash equivalents

1794.090

3837.440

1139.230

(e) Short-term loans and advances

2170.120

2613.070

8306.380

(f) Other current assets

12202.370

11841.070

9077.070

Total Current Assets

86920.150

87148.170

73118.600

 

 

 

 

TOTAL

201540.080

209841.080

148169.350

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

96228.430

95063.010

78571.570

 

Other Income

4021.310

3453.490

4953.380

 

TOTAL

100249.740

98516.500

83524.950

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

45117.880

51420.990

43855.570

 

Purchases of Stock-in-Trade

248.190

506.140

574.120

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

2100.980

(4122.210)

(4586.190)

 

Employees benefits expense

10079.620

8066.490

6452.050

 

Other expenses

23695.000

26649.880

22350.570

 

TOTAL

81241.670

82521.290

68646.120

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

19008.070

15995.210

14878.830

 

 

 

 

 

Less

FINANCIAL EXPENSES

8569.400

6363.730

5686.310

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

10438.670

9631.480

9192.520

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

16811.880

11908.010

8518.950

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(6373.210)

(2276.530)

673.570

 

 

 

 

 

Less

TAX

(1677.740)

(1721.280)

(669.260)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(4695.470)

(555.250)

1342.830

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

85388.310

83280.640

69108.840

 

TOTAL EARNINGS

85388.310

83280.640

69108.840

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

(19.28)

(2.68)

7.09

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2016

31.03.2015

31.03.2014

Current Maturities of Long term debt

3437.050

3113.630

852.560

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

16476.780

2805.100

7449.420

Net cash flows from (used in) operating activity

16243.260

2561.760

6791.590

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

136.48

120.04

99.40

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

2.67

3.04

3.67

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

126.97

127.61

134.50

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.55

0.43

0.47

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.17

0.14

0.21

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.59

0.58

0.65

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

1.14

1.13

1.48

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.35

0.39

0.59

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

1.34

1.38

1.47

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

2.22

2.51

2.62

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

(4.88)

(0.58)

1.71

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

(2.33)

(0.26)

0.91

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

(5.79)

(0.66)

2.85

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

3.05

2.70

2.64

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.83

1.53

1.50

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.40

0.40

0.32

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

190.61

194.41

184.22

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

3.05

2.70

2.64

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

378.560

487.030

487.030

Reserves & Surplus

45010.120

83421.290

80639.310

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

1742.130

0.000

0.000

Net worth

47130.810

83908.320

81126.340

 

 

 

 

long-term borrowings

67782.740

87162.070

87386.620

Short term borrowings

1102.410

4405.640

2010.470

Current maturities of long-term debts

852.560

3113.630

3437.050

Total borrowings

69737.710

94681.340

92834.140

Debt/Equity ratio

1.480

1.128

1.144

 

 

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

78571.570

95063.010

96228.430

 

 

20.989

1.226

 

 

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

78571.570

95063.010

96228.430

Profit/ (Loss)

1342.830

(555.250)

(4695.470)

 

1.71%

(0.58%)

(4.88%)

 

 

 

LEGAL CASES

 

HIGH COURT

 

SUN PARMA LABORATORIES LIMITED Vs. MYLAN LABORATORIES

high court-Delhi

Case no: CS(COMM) 1098/2016 I.A. 21119/2014

Case status: Pending

Judge: HON BLE MR. JUSTICE R.K.GAUBA

Date:2016-11-28

 

HIGH COURT

 

SRI J V PRASAD SC FOR INCOME TAX MS. MYLAN LABORATORIES LIMITED

high court-Andhra Pradesh

Case no: ITTAMP 154/2016 ITTASR 138/2016

Case status: Pending

Judge: HON BLE SRI JUSTICE SANJAY KUMAR HON BLE MRS JUSTICE ANIS

Date:2016-11-02

 

HIGH COURT

 

SUN PARMA LABORATORIES LIMITED Vs. MYLAN LABORATORIES LIMITED AND ANR

high court-Delhi

Case no: CS(OS) 3260/2014 I.A. 21119/2014 I.A. 11272/2015

Case status: Pending

Judge: HON BLE MR. JUSTICE V. KAMESWAR RAO

Date: 16/06/02

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of establishment

Yes

2]

Constitution of the entity Incorporation details

Yes

3]

Locality of the entity

Yes

4]

Premises details

No

5]

Buyer visit details

--

6]

Contact numbers

Yes

7]

Name of the person contacted

Yes

8]

Designation of contact person

Yes

9]

Promoter’s background

Yes

10]

Date of Birth of Proprietor / Partners / Directors

Yes

11]

Pan Card No. of Proprietor / Partners

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

No

21]

Banking facility details

No

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

Yes

33]

Market information

--

34]

Payments terms

No

35]

Negative Reporting by Auditors in the Annual Report

No

 

NOTE: Registered office of the company has been shifted from 1-1-151/1,Sairam Towers,4th Floor, Alexander Road, Secunderabad – 500003, Telangana, India to the present address w.e.f. 15.03.2011

 

BACKGROUND

 

The Company is engaged in the manufacture of Active Pharmaceutical Ingredients, Finished Dosage Formulations and Injectables and in research and development activities. The Company is a subsidiary of MP Laboratories (Mauritius) Limited and the ultimate holding company is Mylan N.V., Netherlands. The Company has manufacturing locations spread across India.

 

UNSECURED LOAN

 

PARTICULAR

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Bonds/debentures

59371.420

60265.580

Other external commercial borrowings

28015.200

26896.490

Short-term borrowings

 

 

Loans repayable on demand from others

2010.470

4405.640

Total

89397.090

91567.710

 

INDEX OF CHARGES

 

S

No

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

C36138147

90128817

ANDHRA BANK

12/04/2005

06/07/2007

11/12/2014

186000000.0

R P. ROADSECUNDERABADSECUNDERABADAP500003IN

2

C15233083

10038930

HDFC BANK LIMITED

19/02/2007

20/03/2009

08/08/2014

450000000.0

HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN

3

C14790752

10015348

ABN AMRO BANK

09/07/2006

20/03/2009

06/08/2014

450000000.0

6-3-24/1/1/A, ROAD NO. 1BANJARA HILLSHYDERABADAP500034IN

4

C14053219

10179307

INDUSIND BANK LTD.

21/07/2009

-

31/07/2014

300000000.0

2401 GEN THIMMAYYA ROADCONTONMENTPUNEMH411001IN

5

C14362313

10073046

Bank of Nova Scotia

21/09/2007

29/12/2008

30/07/2014

400000000.0

6-3-341/1, Road No. 6Banjara HillsHyderabadAP500034IN

6

C14362636

10155499

THE BANK OF NOVA SCOTIA

20/03/2009

-

30/07/2014

400000000.0

6-3-346/1, ROAD NO. 1BANJARA HILSHYDERABADAP500034IN

7

C13672852

90130616

HDFC BANK LIMITED

15/01/2005

08/06/2007

23/07/2014

434000000.0

HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN

8

C13669296

90130372

HDFC BANK LIMITED

01/12/2003

-

23/07/2014

262500000.0

LAKDIKAPUL BRANCHSADEED PLAZAHYDERABADAPIN

9

C12053500

10198487

The Royal Bank of Scotland N. V.

08/01/2010

29/07/2010

21/07/2014

470000000.0

74, Sakhar Bhavan,7th Floor, Nariman Point,MumbaiMH400021IN

10

C12007159

10268093

DBS Bank Limited

27/01/2011

-

18/07/2014

480000000.0

SALARPURIA WINDSORNO.3, (OLD NO.10), ULSOOR ROAD, WARD NO. 78BANGALOREKA560042IN

 

CONTINGENT LIABILITIES:

 

PARTICULARS

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Claims against the company not acknowledged as debts:

 

 

Income tax and indirect taxes claims disputed by the Company relating to issues of applicability and classification

8741.310

6254.300

Others

165.230

165.820

Total

8906.54

6420.120

 

 

FIXED ASSETS

 

Tangible Assets:

·         Freehold land

·         Buildings

·         Plant and equipment

·         Furniture and fixtures

·         Vehicles

·         Office equipment

·         Computer hardware

·         Electrical equipment

·         Lab equipment

 

Intangible Asset:

·         Computer software

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 66.22

UK Pound

1

INR 92.84

Euro

1

INR 81.27

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHA

 

 

Analysis Done by :

PRA

 

 

Report Prepared by :

JYTK

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

 

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.
 
 

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