|
|
|
MIRA INFORM REPORT
|
Report No. : |
490048 |
|
Report Date : |
03.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
K. A. MALLE PHARMACEUTICALS LIMITED |
|
|
|
|
Formerly Known
As : |
K.A. MALLE LEASING COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2, Krishna Dham, L. S. Raheja Marg, Raheja Township, Malad (East),
Mumbai-400097, Maharashtra |
|
Tel. No.: |
91-22-42226111 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
11.05.1982 |
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|
|
|
Com. Reg. No.: |
11-027110 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 12.694 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70101MH1982PLC027110 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK04102A |
|
|
|
|
GSTIN : |
27AAACK1518Q1ZA |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACK1518Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Bulk Drugs, Drug Intermediates and
Specialty Chemicals. (Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1982 and it is having moderate
track records. For the financial year 2017, the company has increased its revenue
from operation and reported average profitability margin of 1.32%. However, rating takes into consideration huge accumulated losses
registered by the company which has resulted into erosion of its entire
networth. Further, rating constrained on account of excess of borrowing which may
act as threat to its liquidity position and intense competition from
industry. Trade relations are reported as fair. Payments are reported to be
slow. In view of aforesaid, the company can be considered for business
dealings with safe and secured 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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2016.
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 03.02.2018
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: Tel. No.: 91-22-42226111
/ 2646-224114 / 222808
LOCATIONS
|
Registered Office : |
2, Krishna Dham, L. S. Raheja Marg, Raheja Township, Malad (East),
Mumbai-400097, Maharashtra, India |
|
Tel. No.: |
91-22-42226111 |
|
Fax No.: |
91-22-42226161 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory: |
6005 GIDC, Ankleshwar, District Bharuch-393002, Gujarat, India |
|
Tel. No.: |
91-2646-224114 / 222808 |
|
Fax No.: |
91-2646-238475 |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Radheshyam Dagdulal Bhomavat |
||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||
|
Address : |
23, Hatkesh, 1st Floor, North South Road No. 6, Vile Parle (West), Mumbai-400056, Mharashtra, India |
||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2009 |
||||||||||||||||||||||||
|
Date of Birth/Age : |
01.11.1941 |
||||||||||||||||||||||||
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DIN No.: |
01893247 |
||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Name : |
Mr. Pramod Banwarilal Podar |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
801-B, Gardenia, 8th Flr, Vasany Vally Complex, Gen. A. K. V. Marg, Malad (East), Mumbai-400097, Maharashtra, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
03.02.1964 |
||||||||||||||||||||||||
|
Date of Appointment : |
28.02.2014 |
||||||||||||||||||||||||
|
DIN No.: |
01984617 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Shanu Pramod Podar |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
801-B,Gardenia 8th Floor, Vasant Vally Complex, Gen. A.K.V. Marg, Malad (East), Mumbai-400097, Maharashtra, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
04.08.1964 |
||||||||||||||||||||||||
|
Date of Appointment : |
28.02.2014 |
||||||||||||||||||||||||
|
DIN No.: |
02064019 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Rahul Radheshyam Bhomavat |
|
Designation : |
Chief Executive Officer (KMP) |
|
Address : |
23, Hatkesh, 1st Floor, North Soth Road No. 6, Vile Parle (West), Mumbai-400056, Maharashtra, India |
|
Date of Appointment : |
01.01.2015 |
|
PAN No.: |
AGJPB2519G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Pramod Podar and Shanu Podar |
|
285 |
|
Rishabh Podar and Shanu Podar |
|
100 |
|
Divyaj Podar |
|
100 |
|
Divya Kumar Jain and Mamta Divya Jain |
|
100 |
|
Mamta Divya Jain and Divya Kumar Jain |
|
100 |
|
Radheshyam Bhomavat |
|
285 |
|
Sai-Ashray Industries Limited, India |
|
1268478 |
|
Total |
|
1269448 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
0.05 |
|
Promoter - Bodies
corporate |
99.92 |
|
Public – (Individual/ Hindu
Undivided Family – Indian) |
0.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Bulk Drugs, Drug Intermediates and
Specialty Chemicals. (Registered activity) |
||||
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|
||||
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Products : |
|
||||
|
|
|
||||
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Brand Names : |
Not Divulged |
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|
||||
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Agencies Held : |
Not Divulged |
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|
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|
||||
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Exports : |
Not Divulged |
||||
|
|
|
||||
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Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS 31.03.2017
A. License &.
Installed capacity
|
(As certified by
the Managing Director but not Certified by Auditors being A technical matter) |
METRIC TONNES YEAR ENDED 31.03.2017 |
|
IBUFROFEN |
-- |
|
MEBENDAZOLE |
300.00 |
|
PYRANDAZOLE |
-- |
|
TINDAZOLE |
-- |
|
CHLOROPROPONIDE |
-- |
|
ALBENDAZOLE |
180.00 |
|
MBA |
120.00 |
|
MPBA |
720.00 |
|
OTBCHA |
240.00 |
|
PEA |
264.00 |
|
HYDROGENATION |
480.00 |
|
MEP |
60.00 |
|
3-4 DABP |
60.00 |
B. Actual Production
|
PARTICULAR |
QTY (M.T.) 31.03.2017 (IN 000) |
|
MEBENDAZOLE |
159.65 |
|
CMC |
Nil |
|
MPBA |
Nil |
|
ALBENDAZOLE |
131.24 |
The production figures are as certified by Managing Director.
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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|
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No. of Employees : |
Information declined by the management |
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|
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Bankers : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Shankar and Kishor Chartered Accountants |
|
Address : |
501, T Square Building, Opposite Chandivali Petrol Pump, Andheri
(East), Mumbai-400076, Maharashtra, India |
|
Tel. No.: |
91-22-28588822/ 33/ 44 |
|
E-Mail : |
|
|
Website: |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFS2700A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
U67120MH1995PLC091393 |
|
|
|
|
Associates: |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
INR 10/- each |
INR 45.000 Million |
|
500000 |
Preference Shares |
INR 10/- each |
INR 5.000 Million |
|
|
Total |
|
INR 50.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1269448 |
Equity Shares |
INR 10/- each |
INR 12.694
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
12.694 |
12.694 |
12.694 |
|
(b) Reserves & Surplus |
(47.238) |
(52.678) |
6.794 |
|
(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) |
(34.544) |
(39.984) |
19.488 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
79.878 |
107.641 |
80.851 |
|
(b) Deferred tax liabilities
(Net) |
11.048 |
11.084 |
11.088 |
|
(c) Other long term
liabilities |
30.331 |
53.922 |
40.318 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
121.257 |
172.647 |
132.257 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
72.612 |
97.556 |
88.735 |
|
(b) Trade payables |
123.787 |
97.001 |
107.481 |
|
(c) Other current liabilities |
8.629 |
5.252 |
2.111 |
|
(d) Short-term provisions |
50.391 |
37.031 |
28.277 |
|
Total
Current Liabilities (4) |
255.419 |
236.840 |
226.604 |
|
|
|
|
|
|
TOTAL |
342.132 |
369.503 |
378.349 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
94.145 |
97.955 |
96.224 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
3.118 |
1.573 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.232 |
0.227 |
0.227 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
84.773 |
82.457 |
84.729 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
182.268 |
182.212 |
181.180 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
71.157 |
85.182 |
91.579 |
|
(c) Trade receivables |
30.836 |
44.515 |
29.130 |
|
(d) Cash and cash equivalents |
13.003 |
19.078 |
20.458 |
|
(e) Short-term loans and
advances |
36.787 |
32.574 |
53.368 |
|
(f) Other current assets |
8.081 |
5.942 |
2.634 |
|
Total
Current Assets |
159.864 |
187.291 |
197.169 |
|
|
|
|
|
|
TOTAL |
342.132 |
369.503 |
378.349 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
415.593 |
410.060 |
345.067 |
|
|
Other Income |
44.874 |
1.793 |
17.472 |
|
|
TOTAL
|
460.467 |
411.853 |
362.539 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
258.251 |
258.328 |
248.314 |
|
|
Employees benefits expense |
54.108 |
49.220 |
36.144 |
|
|
Operating Cost / expenses |
64.987 |
64.727 |
58.407 |
|
|
Other expenses |
65.453 |
60.404 |
44.004 |
|
|
TOTAL |
442.799 |
432.679 |
386.869 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
17.668 |
(20.826) |
(24.330) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.360 |
30.493 |
26.677 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
15.308 |
(51.319) |
(51.007) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
9.850 |
9.911 |
10.121 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
5.458 |
(61.230) |
(61.128) |
|
|
|
|
|
|
|
Less |
TAX |
(0.036) |
0.742 |
(0.204) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
5.494) |
(61.972) |
(60.924) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(85.628) |
(26.156) |
31.051 |
|
|
|
|
|
|
|
Add |
Adjustment
for Excess Depreciation Charges earlier |
0.000 |
3.586 |
8.959 |
|
|
|
|
|
|
|
Less |
Adjustment for Depreciation |
0.000 |
0.000 |
1.656 |
|
|
|
|
|
|
|
Less |
Divided Distribution Tax |
0.000 |
1.086 |
3.586 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(80.134) |
(85.628) |
(26.156) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
56.687 |
50.874 |
63.980 |
|
|
TOTAL
EARNINGS |
56.687 |
50.874 |
63.980 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
35.427 |
24.001 |
29.469 |
|
|
TOTAL
IMPORTS |
35.427 |
24.001 |
29.469 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
4.33 |
(48.82) |
(47.99) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
78.901 |
14.901 |
(300.924) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
27.08 |
39.62 |
30.81 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
13.48 |
9.21 |
11.85 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
174.95 |
137.06 |
157.99 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.25 |
(0.24) |
(0.27) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.18 |
(0.21) |
(0.25) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.98 |
0.93 |
0.81 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
(4.41) |
(5.13) |
8.70 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
(7.39) |
(5.92) |
11.63 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
(2.82) |
(2.49) |
4.94 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
7.49 |
(0.68) |
(0.91) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.32 |
(15.11) |
(17.66) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.61 |
(16.77) |
(16.10) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(15.90) |
154.99) |
(312.62) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.63 |
0.79 |
0.87 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.35 |
0.43 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
(0.10) |
(0.11) |
0.05 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
12.01 |
16.16 |
13.36 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.63 |
0.79 |
0.87 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
12.694 |
12.694 |
12.694 |
|
Reserves & Surplus |
6.794 |
(52.678) |
(47.238) |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
19.488 |
(39.984) |
(34.544) |
|
|
|
|
|
|
Long Term borrowings |
80.851 |
107.641 |
79.878 |
|
Short Term borrowings |
88.735 |
97.556 |
72.612 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
169.586 |
205.197 |
152.490 |
|
Debt/Equity
ratio |
8.702 |
(5.132) |
(4.414) |
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
|
345.067 |
410.060 |
415.593 |
|
|
|
18.835 |
1.349 |
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
|
345.067 |
410.060 |
415.593 |
|
Profit |
(60.924) |
(61.972) |
5.494 |
|
|
(17.66%) |
(15.11%) |
1.32% |
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 |
No |
|
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 |
|
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY OVERVIEW
Subject was incorporated on 11th May 1982 as a private limited company in the name of K. A. Malle Leasing Company Private Limited to conduct the business of leasing and arranging for hire purchase finance. Later, on 27th February 1986, the Company was converted into a public limited company under the name of K. A. Malle Leasing Company Limited.
Subsequently, in 1986, the Company changed its line of business to manufacturing of bulk drugs, drug intermediates and specialty chemicals. On 31st October 1986, the name of the Company was changed to K. A. Malle Pharmaceuticals Limited w.e.f.31.10- 1986. Currently, the Company is engaged in manufacture of bulk drugs, drug intermediates and specialty chemicals. During the year 2008-09 Company also started Jewelry division doing export of Jewelry.
The Company is headquartered at Mumbai and has a manufacturing facility located at Ankleshwar, Gujarat. The production capacity of manufacturing plant is 2424 tons per annum and the current capacity utilization for the same is around 66%. The Company has also been provided with the status of Export House by the Government of India.
THE STATE OF
COMPANY’S AFFAIRS:
The Company has generated revenue of INR 460.467 Million during the year
ended 31st March, 2017 as compared to income of INR 411.854 Million
during the period ended 31st March, 2016. The total expenses of the
company stood at INR 455.009 Million during the year and the Company has
incurred profit amounting to INR 5.494 Million during the year ended 31st
March, 2017 as compared to loss of INR 61.972 during the period ended 31st
March 2016.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and Advances
from related parties: |
|
|
|
Loan from Shardadevi Poddar |
0.354 |
0.000 |
|
Total |
0.354 |
0.000 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
B38816203 |
10353329 |
The Cosmos Co-op Bank Ltd |
21/04/2012 |
- |
- |
700000.0 |
Vile Parle Branch Pratik Avenue, 1st Floor,Nehru Road , Vile Parle (E)MumbaiMH400057IN |
|
2 |
B81733222 |
10113252 |
THE COSMOS CO-OPERATIVE BANK LTD |
30/06/2008 |
30/07/2013 |
- |
466500000.0 |
Vile Parle Branch, Pratik Avenue, 1st Floor,Nehru Road, Vile Parle (East),MumbaiMH400057IN |
|
3 |
Y10285795 |
90183896 |
STANDARD CHARTERED BANK |
06/12/1985 |
- |
- |
10000000.0 |
25. M. G. ROAD; FORTBOMBAYMHIN |
|
4 |
B91322065 |
10181941 |
The Cosmos Co-op Bank Ltd |
12/10/2009 |
- |
09/12/2013 |
5000000.0 |
Vile Parle BranchNehru Road, Vile Parle EastMumbaiMH400057IN |
|
5 |
B91322966 |
10299145 |
The Cosmos Co-op Bank Ltd |
23/07/2011 |
- |
09/12/2013 |
7500000.0 |
Vile Parle Branch, Nehru Road,Vile Parle EastMumbaiMH400057IN |
|
6 |
B91321059 |
10419062 |
The Cosmos Co-operative Bank Ltd. |
09/04/2013 |
- |
09/12/2013 |
5000000.0 |
Vile Parle Branch, Nehru Road,Vile Parle (East),MumbaiMH400057IN |
|
7 |
B91318386 |
10118859 |
The Cosmos Co-op Bank Ltd |
28/08/2008 |
- |
09/12/2013 |
900000.0 |
Vile Parle Branch, Vile Parle EastMumbaiMH400057IN |
|
8 |
B18600189 |
10230147 |
The Cosmos Co-op Bank Ltd |
29/06/2010 |
- |
03/08/2011 |
10000000.0 |
Vile Parle BranchNehru Road, Vile Parle EastMumbaiMH400057IN |
|
9 |
B18600700 |
10253172 |
The Cosmos Co-op Bank Ltd |
11/11/2010 |
- |
03/08/2011 |
10000000.0 |
Vile Parle BranchNehru Road, Vile Parle EastMumbaiMH400057IN |
|
10 |
B18600460 |
10274681 |
The Cosmos Co-op Bank Ltd |
21/03/2011 |
- |
03/08/2011 |
40000000.0 |
Vile Parle Branch, Nehru Road,Vile Parle EastMumbaiMH400057IN |
CONTINGENT
LIABILITIES:
a. Non Collection of Sales Tax "e" "I" & "H" forms from sundry debtors valued at approximately INR 56.453 Million (Previous Year INR 95.358 Million). The estimated liabilities in case of non-receipt of forms are INR 189.2 Million (Previous Year INR 3.670 Million)
b. Guarantees issued by Bankers covered by counter Guarantee of the Company INR 0.580 Million (P.Y. INR 0.280 Million) is issued in favour of Gujarat Pollution Control Board.
FIXED ASSETS
- Land
- Building
- Bhiwandi Godown
- Furniture and Fixture
- Electrical Installation
- Pipes and Valves
- Laboratory Equipments
- Computers
- Plant and Machinery
- P&M Installation Charges
- Storage Tank
- Xerox Copier
- Incelerator
- Effluent Treatment Plant
- Water Softening Plat
- Vehicle
- Office Equipment
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 63.61 |
|
|
1 |
INR 90.17 |
|
Euro |
1 |
INR 78.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.