|
|
|
MIRA INFORM REPORT
|
Report No. : |
489674 |
|
Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
ZOTA HEALTH CARE LIMITED (w.e.f. 18.08.2008) |
|
|
|
|
Formerly Known
As : |
ZOTA HEALTH CARE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Zota House, 2/896, 2nd Floor, Hira Modi Street, Sagrampura, Surat - 395002, Gujarat |
|
Tel. No.: |
91-261-2331601 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
12.07.2000 |
|
|
|
|
Com. Reg. No.: |
04-038352 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 143.634 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24231GJ2000PLC038352 |
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|
|
|
IEC No.: |
Not Divulged |
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|
|
|
GSTIN: |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACZ1196M |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
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|
Line of Business
: |
The company is engaged in the manufacturing and trading in pharmaceutical products. (Registered Activity) |
|
|
|
|
No. of Employees
: (As on 2016) |
267 (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 650000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company incorporated in the year 2000 and it
is having good track records. For the financial year 2017, the company has increased its revenue from
operation as compared to previous year and maintained decent profitability
margin of 7.74%. Rating takes into consideration sound financial profile of the company
marked by adequate networth base and low debt balance sheet. Further, rating also reflects from its established track records
business operation and improvement in the revenue as well as profitability
profile during the year. Trade relations are reported as fair. Business is active. Payments
terms are seems to be regular. In view of the aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 05.02.2018
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 BY
|
Name : |
Mr. Kamlesh Rajnikant Zota |
|
Designation : |
Whole-Time Director |
|
Contact No.: |
91-9909931088 |
|
Date : |
01.02.2018 |
Management non-cooperative (Mobile No.:91-9426807609)
Tel No.:91-261-2331601 (Ringing)
LOCATIONS
|
Registered Office/ Corporate office
: |
Zota House, 2/896, 2nd Floor, Hira Modi Street, Sagrampura, Surat - 395002, Gujarat, India |
|
Tel. No.: |
91-261-2331601 |
|
Mobile No.: |
91-9909931088 (Mr. Kamlesh Rajnikant Zota) |
|
Fax No.: |
91-261-2346415 |
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E-Mail : |
|
|
Website : |
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|
|
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|
Branch Office : |
“Zota House”, 2 & 3rd Floor, Bhagwan Aiyappa Complex, Opposite GIDC, Pandesara Industrial Estate, Udhna Navsari, State Highway, Surat – 394221, Gujarat, India |
|
Tel. No.: |
91-261-2890109 |
|
|
|
|
Plant : |
Plot No. 169, Surat Special Economic Zone, Near Sachin Railway Station, Surat – 394230, Gujarat, India |
|
Tel. No.: |
91-261-2397122 |
|
|
|
|
Overseas Office: |
29 Sunningdale Gardens, London. NW9 9NB. United kingdom |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Moxesh Ketanbhai Zota |
|
Designation : |
Managing Director |
|
Address : |
8/D, Anjan Shalaka Apartment, Lal Bunglow, Jain Temple, Athwalines, Surat – 395007, Gujarat, India |
|
Date of Appointment : |
07.10.2016 |
|
PAN No.: |
AANPZ1370P |
|
DIN No.: |
07625219 |
|
|
|
|
Name : |
Mr. Kamlesh Rajnikant Zota |
|
Designation : |
Whole-Time Director |
|
Address : |
15, Pacharatna Society - 2, Opposite Sneh Sankul Wadi, Anand Mahal
Road, Surat – 395009, Gujarat, India |
|
Date of Birth/Age : |
17.01.1973 |
|
Qualification : |
B-Pharmacy |
|
Date of Appointment : |
01.10.2010 |
|
PAN No.: |
AABPZ9457F |
|
DIN No.: |
00822705 |
|
|
|
|
Name : |
Mr. Himanshu Muktilal Zota |
|
Designation : |
Whole-Time Director |
|
Address : |
604, Navkar Vila, Deepa Complex Adajan Road, Surat – 395009, Gujarat,
India |
|
Date of Birth/Age : |
30.05.1974 |
|
Qualification : |
D-Pharmacy |
|
PAN No.: |
AABPZ1961G |
|
Date of Appointment : |
12.07.2000 |
|
DIN No.: |
01097722 |
|
|
|
|
Name : |
Mr. Manukant Chandulal Zota |
|
Designation : |
Whole-Time Director |
|
Address : |
104, Divya Swapna Apartment Kaji Nu Medan, Gopipura Surat – 395001, Gujarat,
India |
|
Date of Birth/Age : |
17.04.1951 |
|
Qualification : |
M.com |
|
Date of Appointment : |
01.10.2010 |
|
PAN No.: |
AAAPZ7965K |
|
DIN No.: |
02267804 |
|
|
|
|
Name : |
Mr. Salileshkumar Sevantilal Shah |
|
Designation : |
Director |
|
Address : |
Navsarjan Hospital, Opposite Shri Ram Petrol Pump, Anand Mahal Road,
Adajan Surat – 395009, Guajrat, India |
|
Date of Birth/Age : |
20.05.1957 |
|
Qualification : |
Doctor [M.S (General Surgeon)] |
|
Date of Appointment : |
14.08.2010 |
|
DIN No.: |
03245881 |
|
|
|
|
Name : |
Mr. Mahesh Majibhai Prajapati |
|
Designation : |
Director |
|
Address : |
Shanti Medical, STO Mahal Road, Adajan, Surat – 395009, Gujarat, India |
|
Date of Birth/Age : |
15.08.1986 |
|
Qualification : |
S.S.C. |
|
Experience : |
Vast Experience in Medical Store |
|
Date of Appointment : |
14.08.2010 |
|
DIN No.: |
03245989 |
|
|
|
|
Name : |
Ms. Varsaben Gaurang Mehta |
|
Designation : |
Director |
|
Address : |
B – 25, Pavitra Row House, Near Sahaj Super Store, Adajan, Surat – 395009, Gujarat, India |
|
Date of Appointment : |
10.09.2016 |
|
DIN No.: |
07611561 |
|
|
|
|
Name : |
Mr. Ketankumar Chandulal Zota |
|
Designation : |
Director |
|
Address : |
8-D, Anjan Shalaka Apartment, Opposite Lal Bunglow, Jain Temple, Athwalines Choriyasi, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
07.10.1966 |
|
Qualification : |
D-Pharmacy |
|
Date of Appointment : |
01.10.2010 |
|
PAN No.: |
AABPZ9238J |
|
DIN No.: |
00822594 |
KEY EXECUTIVES
|
Name : |
Mr.Viral Mandviwala |
|
Designation : |
Chief Executive Officer |
|
Address : |
Zota House, Hira Modi, Sheri Sagrampura, Surat – 395002, Gujarat, India |
|
Date of Birth/Age : |
09.09.1974 |
|
Qualification : |
B.com |
|
Date of Appointment : |
30.09.2014 |
|
PAN No.: |
AEOPM5340P |
|
|
|
|
Name : |
Mr. Ashvin Bhagavanbhai Variya |
|
Designation : |
Company Secretary |
|
Address : |
Wing-F, Flat No. G-1, Parth Complex, Katargam Singanpore Road, Surat – 395004, Gujarat, India |
|
Date of Birth/Age : |
12.08.1990 |
|
Qualification : |
C.S |
|
Date of Appointment : |
01.09.2015 |
|
PAN No.: |
AQEPV4861E |
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AUDIT COMMITTEE: |
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NOMINATION & REMUNERATION COMMITTEE: |
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STAKEHOLDER’S
SHAREHOLDERS & INVESTOR GRIEVANCES COMMITTEE: |
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CORPORATE SOCIAL
RESPONSIBILITY COMMITTEE: |
|
MAJOR SHAREHOLDERS
As on 30.09.2017
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957)As a % |
|
|
(A) Promoter & Promoter Group |
11501988 |
65.56 |
|
|
(B) Public |
6041364 |
34.44 |
|
|
Grand Total |
17543352 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the manufacturing and trading in pharmaceutical products. (Registered Activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees
: (As on 2016) |
267 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
DSM and Company Chartered Accountants |
|
|
|
|
Statutory Auditor: |
|
|
Name : |
Pradeep K. Singhi and Associates Chartered Accountants |
|
Address : |
A/501, President Plaza, Near R.T.O., Ring Road, Nanpura, Surat, Gujarat, India |
|
Tel. No.: |
91-261- 2472714, 2474954 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 10.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17543352 |
Equity Shares |
INR 10/- each |
INR 175.434 Million |
|
|
|
|
|
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14363352 |
Equity Shares |
INR 10/- each |
INR 143.634 Million |
|
|
|
|
|
Reconciliation of the
number of shares at the beginning & end of the Reporting Period :
|
Authorised Shares |
No. of Shares 31st March, 2017 |
|
Previous Year |
15000000.00 |
|
Increased by |
5000000.00 |
|
Current Year |
20000000.00 |
|
Issued, Subscribed
and fully paid |
No. of Shares 31st March, 2017 |
|
Number of shares at the beginning |
14363352.00 |
|
Add : Addition during the year [Bonus] |
-- |
|
Number of shares at the end |
14363352.00 |
Shares held by each
shareholder holding more than 5% shares, specifying the number of shares held :
|
|
No. of Shares with Sharing Ratio 31st March, 2017 |
|
|
|
No. of Share |
% |
|
Anila K.Zota |
1018500 |
07.09 |
|
Himanshu M. Zota |
2251800 |
15.68 |
|
Kamlesh R.Zota |
1379074 |
09.60 |
|
Ketan C.Zota |
2115974 |
14.74 |
|
Ketan C.Zota(Huf) |
959040 |
06.68 |
|
Manisha K.Zota |
1179619 |
08.21 |
|
Manukant C. Zota |
2894693 |
20.15 |
|
Varsha H.Zota |
819023 |
05.70 |
Aggregate number and class
of shares alloted as fully paid up by way of bonus shares :
|
Year |
Bonus Equity Shares
(No.) |
|
F.Y. 2009-2010 |
2080200 |
|
F.Y. 2010-2011 |
2092700 |
|
F.Y. 2011-2012 |
3324850 |
|
F.Y. 2012-2013 |
1994910 |
|
F.Y. 2013-2014 |
Nil |
|
F.Y. 2014-2015 |
2393892 |
|
F.Y. 2015-2016 |
Nil |
|
F.Y. 2016-2017 |
Nil |
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 |
143.634 |
143.634 |
143.634 |
|
(b) Reserves & Surplus |
83.966 |
70.785 |
39.566 |
|
(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) |
227.600 |
214.419 |
183.200 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
24.571 |
22.264 |
22.215 |
|
(b) Deferred tax liabilities (Net) |
1.182 |
1.634 |
2.410 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
4.538 |
3.371 |
0.000 |
|
Total Non-current
Liabilities (3) |
30.291 |
27.269 |
24.625 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
16.390 |
0.000 |
30.248 |
|
(b) Trade
payables |
183.593 |
146.044 |
117.125 |
|
(c) Other
current liabilities |
3.593 |
3.979 |
5.345 |
|
(d) Short-term
provisions |
76.581 |
48.804 |
43.294 |
|
Total Current
Liabilities (4) |
280.157 |
198.827 |
196.012 |
|
|
|
|
|
|
TOTAL |
538.048 |
440.515 |
403.837 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
59.319 |
63.783 |
70.880 |
|
(ii)
Intangible Assets |
7.906 |
8.500 |
11.463 |
|
(iii)
Capital work-in-progress |
15.000 |
11.318 |
0.000 |
|
(iv)
Intangible assets under development |
9.954 |
0.000 |
0.822 |
|
(b) Non-current Investments |
0.000 |
0.888 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.075 |
1.075 |
1.075 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
93.254 |
85.564 |
84.240 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
239.101 |
163.325 |
176.226 |
|
(c) Trade
receivables |
170.820 |
157.764 |
116.905 |
|
(d) Cash
and cash equivalents |
1.370 |
7.562 |
1.638 |
|
(e) Short-term
loans and advances |
29.937 |
25.177 |
19.738 |
|
(f) Other
current assets |
3.566 |
1.123 |
5.090 |
|
Total
Current Assets |
444.794 |
354.951 |
319.597 |
|
|
|
|
|
|
TOTAL |
538.048 |
440.515 |
403.837 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
715.800 |
647.333 |
564.634 |
|
|
Other Income |
0.564 |
0.769 |
0.144 |
|
|
TOTAL |
716.364 |
648.102 |
564.778 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
30.955 |
35.945 |
25.955 |
|
|
Purchases of
Stock-in-Trade |
492.998 |
372.891 |
395.568 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(72.462) |
12.557 |
(53.489) |
|
|
Employees benefits
expense |
61.545 |
53.872 |
45.065 |
|
|
Other expenses |
102.346 |
76.414 |
66.547 |
|
|
TOTAL |
615.382 |
551.679 |
479.646 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
100.982 |
96.423 |
85.132 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
6.824 |
6.834 |
6.648 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
94.158 |
89.589 |
78.484 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.541 |
12.347 |
15.060 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
83.617 |
77.242 |
63.424 |
|
|
|
|
|
|
|
Less |
TAX |
28.206 |
26.149 |
20.756 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
55.411 |
51.093 |
42.668 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
70.785 |
39.566 |
37.171 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend |
35.087 |
14.363 |
14.363 |
|
|
Tax on Dividend |
7.143 |
2.924 |
2.872 |
|
|
Gratuity Expenses |
0.000 |
2.587 |
0.000 |
|
|
Deferred Tax
Assets/Liabilities |
0.000 |
0.000 |
(0.165) |
|
|
bonus Share Issued |
0.000 |
0.000 |
22.692 |
|
|
Opening Retain Earning
(F.A) |
0.000 |
0.000 |
0.511 |
|
|
Total |
42.230 |
19.874 |
40.273 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
83.966 |
70.785 |
39.566 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
21.255 |
4.952 |
0.816 |
|
|
TOTAL EARNINGS |
21.255 |
4.952 |
0.816 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3.86 |
3.56 |
2.97 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
87.130 |
72.510 |
68.605 |
|
Net cash flows from (used in) operating activity |
58.472 |
45.585 |
46.530 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
87.10 |
88.96 |
75.57 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.19 |
4.10 |
4.83 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
127.90 |
130.38 |
101.42 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.42 |
0.59 |
0.48 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.10 |
1.15 |
1.02 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.57 |
0.50 |
0.54 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.18 |
0.10 |
0.29 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.23 |
0.93 |
1.07 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.41 |
0.39 |
0.45 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
14.80 |
14.11 |
12.81 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
7.74 |
7.89 |
7.56 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
10.30 |
11.60 |
10.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
24.35 |
23.83 |
23.29 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.59 |
1.79 |
1.63 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.73 |
0.96 |
0.73 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.42 |
0.49 |
0.45 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.29 |
0.16 |
0.37 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.59 |
1.79 |
1.63 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
Market Value |
INR 203 |
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 |
143.634 |
143.634 |
143.634 |
|
Reserves & Surplus |
39.566 |
70.785 |
83.966 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
183.200 |
214.419 |
227.600 |
|
|
|
|
|
|
long-term borrowings |
22.215 |
22.264 |
24.571 |
|
Short term borrowings |
30.248 |
0.000 |
16.390 |
|
Total
borrowings |
52.463 |
22.264 |
40.961 |
|
Debt/Equity
ratio |
0.286 |
0.104 |
0.180 |
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 |
564.634 |
647.333 |
715.800 |
|
|
|
14.646 |
10.577 |
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 |
564.634 |
647.333 |
715.800 |
|
Profit |
42.668 |
51.093 |
55.411 |
|
|
7.56% |
7.89% |
7.74% |
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 |
Yes |
|
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 |
NOTE: The registered office of the company has been shifted from B-2, Apsara Society, Near Annie Besant Hall, Gopipura, Surat – 395003, Gujarat, India to the present address w.e.f. 01.12.2005
CORPORATE INFORMATION
The company is a domiciled in India and Incorporated under the provisions of the Companies Act, 1956. The company is engaged in the Manufacturing and Trading in Pharmaceutical Products. The company caters to both domestic and international markets.
STATEMENT OF
COMPANY’S AFFAIRS
During the year, Revenue of the Company increased by 10.58% i.e. from INR 647.333 million to INR 715.800
million.
Profit before tax increase 8.25% i.e. from INR 77.242 million to INR 83.617 million
Profit after tax increase by 8.45% i.e. from INR 51.093 million to INR 55.411 million
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
In terms of Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 the
Management Discussion and Analysis Report (MDAR) is structured as follows:
• Industry structure and developments
• Opportunities & Threats
• Segment-wise or product-wise performance
• Outlook
• Risk and Concerns
• Internal Control System
• Financial and operational performance
• Material Development in Human Resources
Some Statements in this discussion may be forward looking. Future performance may however differ from those
stated in the management discussion and analysis on account of various factors such as changes in Government regulations, tax regimes, impact of competition, etc.
INDUSTRY STRUCTURE
AND DEVELOPMENTS
Indian pharmaceuticals industry is globally respected and is one of the most successful industries in India. It has contributed immensely to Indian‘s healthcare outcomes and economy. In addition to helping ensure affordable and accessible medicines in the far reaches of India, it also generates employment, directly or indirectly hiring around 2.5 million people. Affordability and accessibility of India pharma products has improved in domestic as well as international markets.
The industry‘s strong initiatives to drive access and awareness across all regions of the country have resulted in around 50 per cent higher drug penetration in rural India. India continues to be the primary supplier of essential medications for numerous disease areas worldwide, helping save millions of lives every year.
STRONG POSITION IN
INFRASTRUCTURE AND CAPABILITIES
India‘s strong capabilities across the value chain are critical for successfully serving global pharmaceutical markets. Here, too, India is well positioned:
It has strong capabilities in generics R&D. For the last five years, India bagged around 1/3rd of the total ANDA filings and approximately 45 per cent of DMFs filed with the USFDA.
India has the largest number of FDA-approved pharmaceutical manufacturing plants outside the USA located in India.
India is also known for innovation, with 60+ biosimilars 5 approved for marketing (30 active substances) and an additional 30+ in the pipeline. In addition two new medical entities (NMEs) have been developed and launched till date.
OVERVIEW &
OUTLOOK
Day by day demands for pharmaceutical products are increases in India as well as in whole word. During recent times demand for generic drugs is increased tremendously. To follow the trend your Company is looking to expend base in generic market through Astra Idl division, at present this division is present in twelve states of India. In coming times Company is looking to expend full-fledged operation of this division in whole India and looking to cover the generic market of India. Apart from this your Company is also looking to cover international market as well. During recent time your Company has received product registration letter for more than 55 products from 8 countries and more than 168 products in 10 counties are under registration stage. Hence, in coming year direct export of your Company shall be boosted.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from Related Parties |
24.571 |
22.264 |
|
|
|
|
|
Total |
24.571 |
22.264 |
FINANCIAL RESULTS FOR HALF YEAR ENDED 30.09.2017
(INR in Million)
|
PARTICULARS |
|
|
Half Year
ended |
|
|
|
|
30.09.2017 |
|
|
|
|
[Unaudited] |
|
Income from Operations |
|
|
|
|
Net /income from
operations |
|
|
391.367 |
|
Other Operating income |
|
|
6.047 |
|
Total income from operations |
|
|
397.414 |
|
Other Income |
|
|
|
|
Total |
|
|
|
|
Expenses |
|
|
|
|
Cost of Materials Consumed |
|
|
33.896 |
|
Purchases of stock-in trade |
|
|
178.397 |
|
Changes in inventories of finished goods. work-in-progress and stock
in trade |
|
|
46.681 |
|
Employee benefits expense |
|
|
31.164 |
|
Finance Costs |
|
|
0.915 |
|
Depreciation and Amortization Expenses |
|
|
4.626 |
|
Other Expenses |
|
|
41.040 |
|
Total expenses |
|
|
336.719 |
|
Profit from operation before other income, finance cost and exceptional items |
|
|
60.695 |
|
Exceptional items – Income |
|
|
-- |
|
Profit before tax |
|
|
60.695 |
|
Tax expenses |
|
|
20.455 |
|
Net Profit for the period |
|
|
40.240 |
|
Total other comprehensive expenses/ (income), net to income tax |
|
|
40.240 |
|
Earning per share (not annualised) Basic and Diluted |
|
|
2.29 |
STATEMENT AND
LIABILITIES
(INR in Million)
|
SOURCES OF FUNDS |
|
|
30.09.2017 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
175.434 |
|
(b) Reserves &
Surplus |
|
|
489.702 |
|
(c) Money received
against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
|
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
|
665.136 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
|
0.882 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
|
Total Non-current
Liabilities (3) |
|
|
0.882 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
126.523 |
|
(c) Other current
liabilities |
|
|
31.284 |
|
(d) Short-term provisions |
|
|
25.444 |
|
Total Current Liabilities
(4) |
|
|
183.251 |
|
|
|
|
|
|
TOTAL |
|
|
849.269 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
56.062 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital
work-in-progress |
|
|
17.716 |
|
(iv) Intangible assets
under development |
|
|
6.538 |
|
(b) Non-current
Investments |
|
|
0.000 |
|
(c) Deferred tax assets
(net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
6.995 |
|
(e) Other Non-current
assets |
|
|
223.313 |
|
Total Non-Current Assets |
|
|
310.624 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
201.301 |
|
(c) Trade receivables |
|
|
255.983 |
|
(d) Cash and cash
equivalents |
|
|
26.120 |
|
(e) Short-term loans and
advances |
|
|
0.000 |
|
(f) Other current assets |
|
|
55.241 |
|
Total Current Assets |
|
|
538.645 |
|
|
|
|
|
|
TOTAL |
|
|
849.269 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G51886430 |
10101075 |
Axis Bank Limited |
11/04/2008 |
06/12/2013 |
30/08/2017 |
61900000.0 |
DIGVIJAY TOWERS, OPPOSITE STATION, XAVIER'S SCHOOL, GHOD DOD ROAD, SURAT – 395002, GUJARAT, INDIA |
|
2 |
G51887214 |
10101076 |
AXIS BANK LIMITED |
14/03/2008 |
28/10/2016 |
30/08/2017 |
50000000.0 |
DIGVIJAY TOWERS, OPPOSITE STATION, XAVIER'S SCHOOL, GHOD DOD ROAD, SURAT – 395002, GUJARAT, INDIA |
|
3 |
A18451021 |
10041710 |
PRIME CO-OP. BANK LIMITED |
22/02/2007 |
22/06/2007 |
03/04/2008 |
7500000.0 |
KHATODARA, RING ROAD, SURAT – 395002, GUJARTA, INDIA |
|
4 |
A35787258 |
90105038 |
PRIME CO-OP. BANK LIMITED |
04/01/2001 |
21/06/2007 |
03/04/2008 |
15000000.0 |
KHATODARA, RING ROAD, SURAT – 395002, GUJARTA, INDIA |
FIXED ASSETS
- Land
- Buildings
- Office building
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
- Other equipments
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 78.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.