|
|
|
MIRA INFORM REPORT
|
Report No. : |
492127 |
|
Report Date : |
16.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
MACLEODS
PHARMACEUTICALS LIMITED |
|
|
|
|
Registered
Office : |
304, 3rd
Floor, Atlanta Arcade, Marol Church Road, Andheri (East), Mumbai – 400059,
Maharashtra |
|
Tel. No.: |
91-22-67695800 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
05.06.1989 |
|
|
|
|
Com. Reg. No.: |
11-052049 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 199.607
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239MH1989PLC052049 |
|
|
|
|
IEC No.: |
0391172867 |
|
|
|
|
GST No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM4100C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pharmaceuticals Products such as Drug, Medicines and Allied Products. (Registered Activity and also confirmed by management) |
|
|
|
|
No. of Employees
: |
Not Divulged [We tried to confirm
the number of employees but no one is ready to part any information from the
company management] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A++ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Maximum Credit Limit : |
USD 78897000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Macleods Pharmaceuticals Limited is engaged in manufacturing of
pharmaceutical products. The company was incorporated in the year 1989 and is
based in Mumbai, Maharashtra. It is an established company having excellent
track record. As per Registrar of Companies the date of balance sheet (i.e.
financial filed) is shown as 31.03.2017 but the documents related to the
financial for the year 2017 are not available from any sources. As per available financials of 2016, the company has witnessed a
growth in its revenue and has achieved decent profit margin at 16.05%
(approx.). Available financial indicate company’s strong financial profile marked
by healthy net worth position with negligible debt recorded and favourable
gap between trade payables to its trade receivable. The company also derives strength from its long established track
record of business operation backed by extensive experience of its promoters. Fundamentals of the company are healthy. Trade relations are reported as fair. Business is active. Payments are
reported as regular and as commitment. In view of long track record and strong financial base, 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 (30.06.2017) |
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 |
CRISIL |
|
Rating |
Long term rating = AA (Withdrawal) |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
June 2015 |
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 16.02.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE [TEL. NO.: 91-22-66762800]
LOCATIONS
|
Registered Office/ Factory 1 : |
304, 3rd
Floor, Atlanta Arcade, Marol Church Road, Andheri (East), Mumbai – 400059,
Maharashtra, India |
|
Tel. No.: |
91-22-66762800 |
|
Fax No.: |
91-22-28266229/ 29256599 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office: |
G-2, Saket Building, M.I.D.C. Shanti Nagar, Next to Onida House,
Mahakali Caves Road, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
|
|
|
Factory 2 : |
Village: Theda, Kharuni- Lodimajra, Thehesil- Nalagarh, Baddi Industrial Estate Area, District Solan, Himachal Pradesh, India |
|
|
|
|
Factory 3 / Daman- Premier- Unit II : |
Plot No. 25-27, Survey No. 366, Premier Industrial Estate, Kachigam, Daman – 396 320, Daman and Diu (U.T.), India |
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|
|
|
Factory 4 : |
Plot No.2209, GIDC Sarigam, District Valsad, Gujarat, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Banwarilal Murildhar Bawri |
||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||
|
Address : |
5, Vinayak Heights, Upper Govind Nagar, Malad (East), Mumbai – 400 097, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
02.04.1953 |
||||||||||||||||
|
Qualification : |
D. Pharm |
||||||||||||||||
|
Date of Appointment : |
01.04.2010 |
||||||||||||||||
|
PAN No.: |
AAKPB1114E |
||||||||||||||||
|
DIN No.: |
00017795 |
||||||||||||||||
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Dr. Rajendra Murlidhar Agarwal |
||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||
|
Address : |
5, Vinayak Heights, Upper Govind Nagar, Malad (East), Mumbai – 400 097, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
25.02.1959 |
||||||||||||||||
|
Qualification : |
M.B.B.S. |
||||||||||||||||
|
Date of Appointment : |
01.04.2010 |
||||||||||||||||
|
PAN No.: |
AABPA9611N |
||||||||||||||||
|
DIN No.: |
00034224 |
||||||||||||||||
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Girdharilal Murlidhar Bawri |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
5, Vinayak Heights, Upper Govind Nagar, Malad (East), Mumbai – 400 097, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
03.08.1947 |
||||||||||||||||
|
Qualification : |
B. Com / D. Pharma |
||||||||||||||||
|
Date of Appointment : |
22.05.1990 |
||||||||||||||||
|
PAN No.: |
AABPB7048L |
||||||||||||||||
|
DIN No.: |
00034197 |
||||||||||||||||
|
|||||||||||||||||
|
|
|||||||||||||||||
|
Name : |
Dr. Ruchi Rajendra Agarwal |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
5/6 Vinayak Heights, Upper Govind Nagar, Malad East, Mumbai - 400097, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
22.08.1992 |
||||||||||||||||
|
Date of Appointment : |
30.03.2015 |
||||||||||||||||
|
DIN No.: |
07139918 |
||||||||||||||||
|
|
|||||||||||||||||
|
Name : |
Mr. Mihir Bipin Shah |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
B/105, Building No.30, Near ICICI Bank Tilak Nagar, Chembur, Mumbai - 400089, India |
||||||||||||||||
|
Date of Birth/Age : |
12.01.1983 |
||||||||||||||||
|
Date of Appointment : |
01.07.2016 |
||||||||||||||||
|
DIN No.: |
07586469 |
||||||||||||||||
|
|
|||||||||||||||||
|
Name : |
Dr. Ashok Anant Mahashur |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
A 509, Dhanvantari CHS, Deonar Municipal Colony, Sector 2, Deonar, Mumbai - 400043, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
14.12.1948 |
||||||||||||||||
|
Date of Appointment : |
30.03.2015 |
||||||||||||||||
|
DIN No.: |
07158239 |
||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mrs. Suvarna Dadabhau Gholap |
|
Designation : |
Company Secretary |
|
Address : |
103-A, Building No.26, Tilak Nagar, Chembur, Mumbai – 400089,
Maharashtra, India |
|
Date of Birth/Age : |
15.07.1982 |
|
Date of Appointment : |
01.03.2011 |
|
PAN No.: |
ANJPG7538B |
|
|
|
|
Name : |
Mr. Vinayak Vasudev Shirodkar |
|
Designation : |
Chief Finance Officer |
|
Address : |
B 401, Windsor, Shiv Vallabh Road, Borivali (East), Mumbai - 400066, Maharashtra, India |
|
Date of Appointment : |
01.10.2014 |
|
PAN No.: |
AAFPS7254R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Banwarilal Bawri |
|
3022080 |
|
Ajay Agarwal |
|
2172550 |
|
Anju Agarwal |
|
3256200 |
|
Rajendra Agarwal |
|
3084360 |
|
Girdharilal Bawri |
|
2235360 |
|
Sudha Bawri |
|
884080 |
|
Anushree Agarwal |
|
229200 |
|
Ruchi Agarwal |
|
192840 |
|
Taradevi Bawri |
|
162000 |
|
Rajendra Agarwal HUF |
|
120000 |
|
Vijay Agarwal |
|
2083610 |
|
Prateek Agarwal |
|
2518400 |
|
|
|
|
|
Total |
|
19960680 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceuticals Products such as Drug, Medicines and Allied Products. (Registered Activity and also confirmed by management) |
||||
|
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|
||||
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Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
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Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
Not Divulged [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· ICICI Bank Limited 1st Floor, Ganesh Darshan Building, L. T. Road, Opposite Shri Sagar Hotel, Borivali West - 400092, Maharashtra, India · State Bank of India Commercial Branch, Horniman Circle, Mumbai - 400023, Maharashtra, India · Citi Bank N.A. Commercial Banking Group, Bandra Kurla Complex, Mumbai - 400051, Maharashtra, India · State Bank of India Commercial Branch (Advances), N G N Vaidya Marg, P B No. 10141, Mumbai - 400023, Mumbai - 400023, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Bansal Bansal and Company Chartered Accountants |
|
Address : |
120, Building No.6, Mittal Industrial Estate,
Mumbai 400059, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFB5224E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associate Company: |
Macleods Social Welfare Foundation
[U85100MH2015NPL264873] |
|
|
|
|
Joint Venture: |
Pharmaceutical Instiute Morocco Macleods |
|
|
|
|
Subsidiary company
: |
· Macleods Pharma USA, INC · Macleods Pharmaceuticals Limited. Uk · Macleods Pharmaceuticals Limited. Ukraine · Macleods Pharmaceuticals SA (PTY) Limited · East and West Clothing Private Limited [U29140MH1975PTC018072] · Macleods Pharma Japan · Macleods Pharmaceuticals Limited LLC · Macleods Pharma Espana SLU · Macleods Pharmaceuticals PERU Sac |
|
|
|
|
Enterprise under
Significant Influence of Key management Personnel or their relatives : |
· Oxalis Labs · Pharma Centre · Macleods Laboratories Private Limited [U85195MH1987PTC045607] |
CAPITAL STRUCTURE
AS ON: 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
INR 10/- each |
INR 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19960680 |
Equity Shares |
INR 10/- each |
INR 199.607
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
199.607 |
199.607 |
199.607 |
|
(b) Reserves and Surplus |
27414.329 |
21672.374 |
16486.456 |
|
(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) |
27613.936 |
21871.981 |
16686.063 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
19.507 |
19.508 |
|
(b) Deferred tax liabilities (Net) |
491.325 |
324.534 |
258.039 |
|
(c) Other long-term
liabilities |
165.338 |
132.313 |
83.394 |
|
(d) long-term
provisions |
215.354 |
160.040 |
113.541 |
|
Total Non-current
Liabilities (3) |
872.017 |
636.394 |
474.482 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
1850.075 |
1486.073 |
847.604 |
|
(b) Trade
payables |
4989.173 |
3805.004 |
2607.959 |
|
(c) Other
current liabilities |
2484.462 |
1755.867 |
1490.027 |
|
(d) Short-term
provisions |
0.000 |
1.038 |
19.866 |
|
Total Current
Liabilities (4) |
9323.710 |
7047.982 |
4965.456 |
|
|
|
|
|
|
TOTAL |
37809.663 |
29556.357 |
22126.001 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
8757.360 |
5282.112 |
4235.437 |
|
(ii)
Intangible Assets |
31.770 |
34.981 |
39.353 |
|
(iii) Tangible assets capital
work-in-progress |
1042.150 |
2019.998 |
741.700 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
100.943 |
102.979 |
102.779 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
1190.725 |
1094.373 |
1054.916 |
|
(e) Other
Non-current assets |
4665.276 |
5575.527 |
1781.188 |
|
Total Non-Current
Assets |
15788.224 |
14109.970 |
7955.373 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
5924.859 |
4837.150 |
3935.825 |
|
(c) Trade
receivables |
5644.745 |
3501.163 |
3438.543 |
|
(d) Cash and
bank balances |
7572.707 |
4761.183 |
5023.792 |
|
(e)
Short-term loans and advances |
1415.636 |
1417.769 |
1159.752 |
|
(f) Other
current assets |
1463.492 |
929.122 |
612.716 |
|
Total
Current Assets |
22021.439 |
15446.387 |
14170.628 |
|
|
|
|
|
|
TOTAL |
37809.663 |
29556.357 |
22126.001 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
40272.784 |
34690.095 |
28205.873 |
|
|
Other Income |
1327.186 |
907.029 |
758.724 |
|
|
TOTAL |
41599.970 |
35597.124 |
28964.597 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
11900.590 |
11019.619 |
9727.317 |
|
|
Purchases of
Stock-in-Trade |
5592.675 |
5431.757 |
3556.556 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(220.066) |
(484.048) |
(340.087) |
|
|
Employee benefit expense |
5334.611 |
4258.744 |
3458.118 |
|
|
Other expenses |
10099.410 |
7989.872 |
6397.592 |
|
|
TOTAL |
32707.220 |
28215.944 |
22799.496 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
8892.750 |
7381.180 |
6165.101 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
51.510 |
34.716 |
24.852 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION |
8841.240 |
7346.464 |
6140.249 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
526.175 |
406.898 |
360.235 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX |
8315.065 |
6939.566 |
5780.014 |
|
|
|
|
|
|
|
Less |
TAX |
1852.383 |
1483.322 |
1341.706 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
6462.682 |
5456.244 |
4438.308 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export (FOB Value) |
9408.146 |
6619.409 |
7057.520 |
|
|
Income from Product Development |
151.818 |
146.436 |
111.985 |
|
|
TOTAL EARNINGS |
9559.964 |
6765.845 |
7169.505 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
2652.307 |
2208.942 |
2533.350 |
|
|
Components/Stores/Spares |
15.245 |
10.934 |
10.434 |
|
|
Finished Goods |
58.256 |
26.074 |
33.591 |
|
|
Capital Goods |
549.961 |
187.513 |
145.396 |
|
|
TOTAL IMPORTS |
3275.769 |
2433.463 |
2722.771 |
|
|
|
|
|
|
|
|
Earnings Per Share (INR) |
323.77 |
273.35 |
222.35 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
6247.844 |
6670.450 |
5423.666 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
4349.195 |
5174.888 |
4222.062 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
51.16 |
36.84 |
44.50 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
7.13 |
9.91 |
8.20 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
104.10 |
84.42 |
71.66 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.50 |
1.53 |
1.57 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.90 |
1.01 |
1.23 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.25 |
0.24 |
0.23 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.07 |
0.07 |
0.05 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.34 |
0.32 |
0.30 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.36 |
0.34 |
0.30 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
172.64 |
212.62 |
248.07 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
16.05 |
15.73 |
15.74 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
17.09 |
18.46 |
20.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
23.40 |
24.95 |
26.60 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.36 |
2.19 |
2.85 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.73 |
1.51 |
2.06 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.73 |
0.74 |
0.75 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
9.27 |
7.54 |
4.34 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.36 |
2.19 |
2.85 |
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
|
ParticularS |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
199.607 |
199.607 |
199.607 |
|
Reserves & Surplus |
16486.456 |
21672.374 |
27414.329 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
16686.063 |
21871.981 |
27613.936 |
|
|
|
|
|
|
Long-term borrowings |
19.508 |
19.507 |
0.000 |
|
Short term borrowings |
847.604 |
1486.073 |
1850.075 |
|
Total
borrowings |
867.112 |
1505.580 |
1850.075 |
|
Debt/Equity
ratio |
0.052 |
0.069 |
0.067 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
28205.873 |
34690.095 |
40272.784 |
|
|
|
22.989 |
16.093 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
28205.873 |
34690.095 |
40272.784 |
|
Profit/ (Loss) |
4438.308 |
5456.244 |
6462.682 |
|
|
15.74
% |
15.73
% |
16.05
% |
LEGAL CASES
|
Case Details Bench:-Bombay |
||||||||
|
Presentation Date:- 25/05/2017 |
||||||||
|
||||||||
|
Petitioner:- PR. Commissioner of Income-Tax Central-1 Respondent:- Macleods Pharmaceuticals Limited
|
||||||||
|
Bench:- DIVISION
ACCORDING TO SITTING LIST |
||||||||
|
Act :- Income Tax Act, 1961 Under Section:- 260A |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B84988856 |
10449057 |
ICICI BANK LTD. |
19/09/2013 |
- |
- |
22160000.0 |
1ST FLOOR, GANESH DARSHAN BLDG.L. T. ROAD, OPP. SHRI SAGAR HOTELBORIVALI WESTMH400092IN |
|
2 |
B85015006 |
10449114 |
ICICI BANK LTD. |
19/09/2013 |
- |
- |
17850000.0 |
1ST FLOOR, GANESH DARSHAN BLDG.L. T. ROAD, OPP. SHRI SAGAR HOTELBORIVALI WESTMH400092IN |
|
3 |
B84990639 |
10449059 |
ICICI BANK LTD. |
19/09/2013 |
- |
- |
22160000.0 |
1ST FLOOR, GANESH DARSHAN BLDG.L. T. ROAD, OPP. SHRI SAGAR HOTELBORIVALI WESTMH400092IN |
|
4 |
B85072510 |
10449202 |
ICICI BANK LTD. |
19/09/2013 |
- |
- |
15460000.0 |
1ST FLOOR, GANESH DARSHAN BLDG.L. T. ROAD, OPP. SHRI SAGAR HOTELBORIVALI WESTMH400092IN |
|
5 |
B45539988 |
10029195 |
CITI BANK N.A. |
29/11/2006 |
05/03/2012 |
09/08/2012 |
600000000.0 |
COMMERCIAL BANKING GROUPBANDRA KURLA COMPLEXMUMBAIMH400051IN |
|
6 |
Y10326976 |
90224185 |
STATE BANK OF INDIA |
09/08/1990 |
- |
17/02/2006 |
6480000.0 |
MALAD BRANCHMUMBAIMH400021IN |
|
7 |
Y10327286 |
90224495 |
STATE BANK OF INDIA |
22/03/1994 |
- |
17/02/2006 |
13020000.0 |
MALAD BRANCHMUMBAIMH400021IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Deferred sales tax loan |
0.000 |
19.507 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from directors |
0.111 |
0.111 |
|
|
|
|
|
Total |
0.111 |
19.618 |
GENERAL
INFORMATION
The Company is a closely held Public Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the business of pharmaceutical and related activities, including research.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
Claims
against the Company not acknowledged as debt |
|
|
|
TDS Demand. |
24.321 |
2,43,21, |
|
Income Tax Demand |
4.102 |
47,72 |
|
State Excise Demand |
Amount unascertained Pre-Deposited in HC INR 2.072 Million |
Amount unascertained Pre-Deposited in HC INR 2.072 Million |
|
Sales Tax |
23.734 |
23.734 |
|
Excise and Service Tax Demand |
INR 341.923 Million Duty - INR 210.574 Million Penalty - INR 175.304 Million and Pre-deposited - INR 43.955 Million |
INR 306.478 Million Duty - INR 158.416 Million Penalty - INR 153.435 Million and Pre-deposited - INR 5.373 Million |
|
Outstanding Bank Guarantees |
302.712 |
304.258 |
|
Customs Tax Demand |
2.036 |
0.000 |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Factory equipment’s
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer equipment’s
·
Leasehold improvements
·
Computer software
PRESS RELEASES
AFTER PFIZER, DELHI HIGH COURT GRANTS RELIEF TO ABBOTT AND
MACLEODS
Mar 15, 2016,
NEW DELHI: Pharma majors Abbott Healthcare and Macleods Pharmaceuticals today got interim relief from the Delhi High Court which stayed till March 21 government's decision banning sale of certain combination medicines of the two companies.
Justice Rajiv Sahai Endlaw said why cannot a similar relief, as granted to pharma major PfizerBSE 0.37 %'s cough syrup 'Corex' yesterday, be extended to these two companies
"The drugs which are subject matter have been in market for over 20 years. I am of the view that a counter affidavit is required in this petitions. There is no question, why same interim relief be not granted to the present petitioners, like it was given yesterday.
"List the matter for Monday (March 21). Till then the effect of notification shall remain stayed and no coercive steps shall be taken against the stockist, retailer and the sellers qua the petitioners here," the court said.
The court also issued notice to Ministry of Health and Family Welfare directing
it to file status report with regard to the findings of the expert committee
set up by it following which sale of over 300 drug combinations have been
banned across India with effect from March 10.
The court's order came on pleas moved by Abbott Healthcare and Macleods
Pharmaceuticals who contended that no show cause notice or hearing was granted
prior to the notification.
They alleged that the notification is silent on the aspect as to which expert committee was appointed by Health Ministry to examine the safety and deficiency of the fixed dose combination (FDC).
Additional Solicitor General Sanjay Jain, appearing for the Centre, submitted that the action taken was not against a company or brand centric.
"The decision was taken by the expert committee," ASG said, adding that this was done in "public interest".
This prompted the judge to note that the companies have been in market for over 20 years. "Now what has happened that all of a sudden you ban the sale of their drug combinations," he asked.
The petitions pertain to ban on sale of Abbott's Tixylix toddler syrup and Phensedyl cough syrup as well as Macleods' panderm plus ointment.
SANDOZ INC, MACLEODS
PHARMA RECALL TWO DRUGS MADE IN INDIA
FEB 22, 2016
NEW YORK: US drug firm Sandoz Inc is recalling over 2,70,000 bottles of hypertension tablets, manufactured by Hyderabad-based Mylan Laboratories, from the American market, a report by USFDA has said.
Also, unspecified number of bottles of tablets used to treat Parkinson's
disease manufactured by Macleods Pharmaceuticals are also being recalled,
according to the USFDA.
As many as 277,267 bottles of Candesartan Cilexetil tablets manufactured by Mylan Laboratories are being recalled by Sandoz Inc, for whom they were made, in an ongoing recall due to "failed impurities/degradation specifications; 9 month stability time point," the report said.
The USFDA Enforcement Report for the week of February 17, 2016
said that the class III voluntary recall is nationwide.
The other recall is of Pramipexole dihydrochloride tablets manufactured by
Baddi-based Macleods Pharmaceuticals. The product is being voluntarily recalled
by Macleods Pharma USA Inc for whom it was being manufactured here.
The class II recall is on account of presence of foreign tablets/capsules in the product, the report said.
The ongoing nationwide class II recall is due to "presence of a comingled Carbimazole 5 mg tablet," it added.
Class III recall by the United States Food and Drug
Administration (USFDA) is initiated in a situation in which use of or exposure
to a violative product is not likely to cause adverse health
consequences.
As per the FDA website a Class II recall is done in a situation in which use of
or exposure to a violative product may cause temporary or medically reversible
adverse health consequences or where the probability of serious adverse health
consequences is remote
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 64.13 |
|
UK Pound |
1 |
INR 89.17 |
|
Euro |
1 |
INR 79.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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.