MIRA INFORM REPORT

Report No. :	492821
Report Date :	26.02.2018

IDENTIFICATION DETAILS

Name :	GLAND PHARMA LIMITED (w.e.f. 05.12.1994)
Formerly Known As :	GLAND PHARMA PRIVATE LIMITED
Registered Office :	# 6-3-865/1/2, Flat No. 201, Greenland Apartments, Ameerpet, Hyderabad – 500016, Telangana
Tel. No.:	91-40-23541535 / 66621010
Country :	India
Financials (as on) :	31.03.2016
Date of Incorporation :	20.03.1978
Com. Reg. No.:	36-002276
Capital Investment / Paid-up Capital :	INR 154.949 Million
CIN No.: [Company Identification No.]	U24239AP1978PLC002276
IEC No.: [Import-Export Code No.]	0990002110
GSTN : [Goods & Service Tax Registration No.]	36AAACG8036B1ZZ
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACG8036B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and exporter injectable formulations. [Registered activity and also confirmed by management]
No. of Employees :	40 (Approximately) [As per site visit]

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A+

Credit Rating	Explanation	Rating Comments
A+	Low Risk	Business dealings permissible with low risk of default

Maximum Credit Limit :	USD 48000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

EXTERNAL AGENCY RATING

Rating Agency Name	INDIA RATING
Rating	Long-Term Rating = AA-
Rating Explanation	High degree of safety and very low credit risk.
Date	17.04.2017

Rating Agency Name	INDIA RATING
Rating	Short-Term Rating = A1+
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	17.04.2017

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 26.02.2018

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 PARTED BY (GENERAL DETAILS)

Name :	Mr. Deva Mahendra Patel
Designation :	Product Manager
Contact No.:	91-9701824061
Date :	24.02.2018

LOCATIONS

Registered Office :	#6-3-865/1/2, Flat No. 201, Green Land Apartments, Ameerpet, Hyderabad - 500016, Telangana, India
Tel. No.:	91-40-23541535 / 66621010 / 2340 / 2157/2415
Mobile No.:	91-9701824061 (Mr. Deva Mahendra Patel)
Fax No.:	91-40-23402229
E-Mail :	sampath@glandpharma.com gland@hd1.vsnl.net.in gland@glandpharma.com yvgkrao@glandpharma.com mahendrapatel.deva@glandpharma.com
Website :	http://www.glandpharma.com
Area :	4000 Sq. ft.
Location :	Owned
Corporate / Marketing Office :	MIG-2, Plot No. 48,49,56,57, Near Amma Pharmacy and Super Market, AP Housing Board Colony, Opposite I.D.P.L. Colony, Balanagar, Chintal, Hyderabad – 500037, Telangana, India
Tel. No.:	91-40-50405000
Area :	1400 sq. ft. (As per site visit)
Locality :	Residential (As per site visit)
Factory 1 :	Plot No. 9, Anrich Industrial Estate, Bollaram – 502325, India
Factory 2:	D. P. Pally Village, Dunogial P.O. Hyderabad – 500016, Telangana, India
Factory 3:	Plot No. C1-C9, Visakhapatnam Special Economic Zone (VSEZ), Duvvada, Visakhapatnam – 530046, Andhra Pradesh, India
Branch Office:	Near Ghandi Maisamma “X” Roads, D. P. Pally, Hyderabad – 500043, Telangana, India

DIRECTORS

AS ON 2018

Name :

Mr. Ravindranath Penmesta

Designation :

Managing Director

Address :

6-3-865/1/A/303, Green Land Apartments, Ameerpet, Hyderabad – 500016, Telangana, India

Date of Birth/Age :

11.10.1956

Qualification :

Medical Doctor

Date of Appointment :

01.10.2009

DIN No.:

00179939

PAN No.:

AHMPP1651R

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U24110TG1974PTC001694	GLAND CHEMICALS PRIVATE LIMITED	07/02/1983	-
U24239TG2000PTC034977	ETHIGEN LABS PRIVATE LIMITED	01/11/2013	-
U24230TG2000PTC035268	QUESTAR LABORATORIES PRIVATE LIMITED	01/11/2013	-
U70102TG2007PTC053046	GRAND PRESIDENCY PROPERTIES PRIVATE LIMITED	07/03/2007	-
U74900TG2015PTC100701	RP ADVISORY SERVICES PRIVATE LIMITED	11/09/2015	-
U65990TG2017PTC121443	ADVAIT CAPITAL PRIVATE LIMITED	18/01/2018	-

Name :

Mr. Penmetsa Venkata Narasimha Raju

Designation :

Whole-time director

Address :

6-3-865/1/A/303, Green Land Apartments, Ameerpet, Hyderabad – 500016, Telangana, India

Date of Birth/Age :

28.05.1933

Qualification :

Post Graduate

Date of Appointment :

03.12.1979

DIN No.:

00180021

PAN No.:

AFIPP8042G

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U24110TG1974PTC001694	GLAND CHEMICALS PRIVATE LIMITED	21/04/1989	-
U24110TG1991PTC012637	GLAND CELSUS BIO CHEICALS PRIVATE LIMITED	03/12/2013	-
U24239TG2000PTC034977	ETHIGEN LABS PRIVATE LIMITED	03/12/2013	-
U74899DL1977PTC008753	NOTHERN BIOLOGICALS AND CHEMICALS PRIVATE LIMITED	11/10/1977	-
U24230TG2000PTC035268	QUESTAR LABORATORIES PRIVATE LIMITED	03/12/2013	-
U74900TG2015PTC099256	GCBC ADVISORY SERVICES PRIVATE LIMITED	09/06/2015	-
U74900TG2015PTC100701	RP ADVISORY SERVICES PRIVATE LIMITED	11/09/2015	-

Name :

Mr. Davinder Singh Brar

Designation :

Director

Address :

Green Fields Farm, Gadaipur, Jaunapur Road, Village – Gadaipur, Tehsil Mehrauli, New Delhi – 110030, India

Date of Birth/Age :

21.08.1952

Date of Appointment :

17.06.2014

DIN No.:

00068502

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U74999TG2000PTC035826	GVK BIOSCIENCES PRIVATE LIMITED	26/07/2004	-
U74110TG2005PTC045481	GVK DAVIX TECHNOLOGIES PRIVATE LIMITED	25/02/2005	-
U24239TG2005PTC046402	INOGENT LABORATORIES PRIVATE LIMITED	30/09/2005	-
L30007KA1992PLC025294	MPHASIS LIMITED	11/12/2015	-
L24230MH1999PLC120720	WOCKHARDT LIMITED	13/09/2012	-
L34103DL1981PLC011375	MARUTI SUZUKI INDIA LIMITED	05/09/2006	-
U74899DL1989PTC036489	GREEN VALLY LAND AND DEVELOPMENT PRIVATE LIMITED	18/12/1997	-
U65100DL1991PTC045031	MADHUBANI INVESTMENTS PRIVATE LIMITED	24/01/1996	-
U74899DL1991PTC046085	SURAJ HOTELS PRIVATE LIMITED	31/03/1994	-
U74899DL1991PTC046086	SURAJ OVERSEAS PRIVATE LIMITED	22/01/1996	-
U74140DL2004PTC124406	DAVIX MANAGAEMENT SERVICES PRIVATE LIMITED	03/02/2004	-
U73100TG2006PTC049287	GVK DAVIX RESEARCH PRIVATE LIMITED	24/02/2006	-
U24233DL2007PTC169417	DAVIX PHARMACEUTICALS PRIVATE LIMITED	15/10/2007	-
U55209KA2008PTC046663	MOUNTAIN TRAIL FOODS PRIVATE LIMITED	29/12/2014	-
U72200TG2014PTC093303	EXCELRA KNOWLEDGE SOLUTIONS PRIVATE LIMITED	04/03/2014	-

Name :

Mr. Mohammed Moheb Mastan Ali

Designation :

Director

Address :

H No. 8-2-676/B/12, Plot No.48 Sai Nagar Colony, Banjara Hills, Hyderabad –500034, Telangana, India

Date of Appointment :

28.08.2006

DIN No.:

00699254

Name :

Mr. Qiyu Chen

Designation :

Director

Address :

Room 8-D, No. 98, West Guangyuan Road, Shanghai 200030, China

Date of Appointment :

03.10.2017

DIN No.:

07675421

Name :

Mr. Xiaohui Guan

Designation :

Director

Address :

Room 201, No. 26, Lane 1001, South Henan Road, Huangpu District, Shanghai 200011, China

Date of Appointment :

03.10.2017

DIN No.:

07675466

Name :

Mr. Yiran Peng

Designation :

Director

Address :

Room 203, No. 3, Lane 1141, Taolin Rd., Pudong New Area, Shanghai 200135, China

Date of Appointment :

03.10.2017

DIN No.:

07675475

Name :

Mr. Yifang Wu

Designation :

Director

Address :

L199-199-101,Jiulong, New District Street, Tongshan District, Xuzhou, Jiangsu 221000, China

Date of Appointment :

03.10.2017

DIN No.:

07675478

Name :

Mr. Ying Shao

Designation :

Director

Address :

Room 9A, Unit 1, Building 2, No. 9 Beiwa Road, Beijing – 100089, India

Date of Appointment :

03.10.2017

DIN No.:

07675545

KEY EXECUTIVES

Name :	Mr. Narasimha Rao Bandreddi
Designation :	Chief Finance Officer
Address :	7-1-48/5/3, Flat No. 401, Sai Madhavi, Enclave, Raja Sham Karam Road, Ameerpet, Hyderabad – 500016, Telangana, India
Date of Birth/Age :	01.01.1958
Date of Appointment :	17.06.2014
PAN No.:	AFLPB7703F
Name :	Sampath Kumar Pallerlamudi
Designation :	Company Secretary
Address :	Flat No.102, Venus Residency, Motinagar Near E-Seva, Hyderabad, Hyderabad – 500018, Telangana, India
Date of Appointment :	17.12.2013
PAN No.:	ALTPP1482D
Name :	Mr. Deva Mahendra Patel
Designation :	Product Manager

MAJOR SHAREHOLDERS

AS ON 31.03.2017

SHAREHOLDERS DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

AS ON 27.09.2017

Category	Percentage
Promoters [Individual/Hindu Undivided Family (Indian)]	0.08
Promoters [Bodies corporate]	30.53
Promoters [Others (Discretionary trusts)]	11.31
Public/Other than promoters [Individual/Hindu Undivided Family (Indian)]	0.05
Public/Other than promoters [Non-resident Indian (NRI)]	10.02
Public/Other than promoters [Body corporate]	48.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and exporter injectable formulations. [Registered activity and also confirmed by management]

Products / Services :

Name and Description of main products / services	ITC Code
Pharmaceuticals	99611730

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

• Finished Goods

Countries :

• USA
• European Countries

Imports :

Not Divulged

Terms :

Selling :

L/C, Credit (30 Days) and Others (RTGS)

Purchasing :

L/C, Credit (30 Days) and Others (RTGS)

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark :	--

Customers :

End Users

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark :	--

No. of Employees :

40 (Approximately) [As per site visit]

Bankers :

Banker Name :	Syndicate Bank
Branch :	Corporate Finance Branch, Somajiguda, Hyderabad – 500082, Telangana, India
Person Name (With Designation) :	--
Contact Number :	91-40-23311104
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	Banker Non Co-operative

Facilities :

SECURED LOANS	31.03.2016 INR In Million	31.03.2015 INR In Million
LONG TERM BORROWINGS
Rupee term loans from banks	500.000	700.000
Other loans and advances	1.728	4.916
SHORT TERM BORROWINGS
Rupee term loans from banks	399.000	377.040
Commercial paper	0.000	208.113
Total	900.728	1290.069

Auditors :
Name :	S.R. Batliboi and Associates LLP Chartered Accountants
Address :	The Oval Office, 18 iLabs Centre, Madhapur, Hyderabad – 500081, Telangana, India
PAN No.:	ACHFS9118A
Memberships :	Not Available
Collaborators :	Not Available
Enterprises in which directors are interested as directors, where transactions exists [As on 2016] :	· Gland Chemicals Private Limited · Nicomac Clean Rooms Fast East Private Limited · Moreschi Asia Doors Private Limited · Wockhardt Limited
Limited Liability Firms in which directors are interested as partner, where transaction exists [As on 2016] :	· Dhananjaya Properties LLP · Sasikala Properties LLP

CAPITAL STRUCTURE

AFTER 27.09.2017

Authorised Capital : INR 243.000 Million

Issued, Subscribed & Paid-up Capital : INR 164.374 Million

AS ON 27.09.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
18000000	Equity Shares	INR 10/- each	INR 180.000 Million
6300000	Preference Shares	INR 10/- each	INR 63.000 Million
	Total		INR 243.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15494949	Equity Shares	INR 10/- each	INR 154.949 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2016	31.03.2015	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	154.949	156.724	117.585
(b) Reserves and Surplus	16615.720	13785.191	8218.921
(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)	16770.669	13941.915	8336.506
(3) Non-Current Liabilities
(a) long-term borrowings	565.416	771.594	1072.924
(b) Deferred tax liabilities (Net)	650.420	423.369	393.219
(c) Other long-term liabilities	3.670	2.650	2.650
(d) long-term provisions	0.000	0.000	4.088
Total Non-current Liabilities (3)	1219.506	1197.613	1472.881
(4) Current Liabilities
(a) Short-term borrowings	399.000	585.153	582.645
(b) Trade payables	885.084	655.707	984.749
(c) Other current liabilities	1517.687	1195.953	1479.949
(d) Short-term provisions	71.158	5.027	9.243
Total Current Liabilities (4)	2872.929	2441.840	3056.586
TOTAL	20863.104	17581.368	12865.973
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7878.798	6486.251	4597.441
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Tangible assets capital work-in-progress	2021.033	1920.757	2078.771
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1.725	1.725	0.525
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	216.318	548.592	259.803
(e) Other Non-current assets	26.226	69.206	83.557
Total Non-Current Assets	10144.100	9026.531	7020.097
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3670.764	3211.942	3063.594
(c) Trade receivables	3506.853	1693.057	1682.013
(d) Cash and bank balances	2732.264	3156.334	771.039
(e) Short-term loans and advances	462.059	295.124	221.035
(f) Other current assets	347.064	198.380	108.195
Total Current Assets	10719.004	8554.837	5845.876
TOTAL	20863.104	17581.368	12865.973

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	SALES
	Total Revenue from operations	13478.678	9938.009	9909.206
	Other Income	367.555	296.493	85.351
	TOTAL	13846.233	10234.502	9994.557
Less	EXPENSES
	Cost of Materials Consumed	5178.856	3943.082	4766.223
	Purchases of Stock-in-Trade	128.321	133.567	123.854
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	94.901	63.811	(765.505)
	Employee benefit expense	1312.952	1056.861	814.354
	CSR expenditure	5.000	0.000	0.000
	Other expenses	1736.312	1567.348	1364.188
	Prior period items	0.000	11.373	0.000
	TOTAL	8456.342	6776.042	6303.114
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	5389.891	3458.460	3691.443
Less	FINANCIAL EXPENSES	164.151	166.947	133.759
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	5225.740	3291.513	3557.684
Less/ Add	DEPRECIATION/ AMORTISATION	634.592	567.205	284.235
	PROFIT/ (LOSS) BEFORE TAX	4591.148	2724.308	3273.449
Less	TAX	1455.084	631.641	1034.657
	PROFIT/ (LOSS) AFTER TAX	3136.064	2092.667	2238.792
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	10259.748	7620.899	7182.301
	TOTAL EARNINGS	10259.748	7620.899	7182.301
	IMPORTS
	Raw Materials	4446.382	3068.014	4123.041
	Capital Goods	1109.004	691.853	424.674
	TOTAL IMPORTS	5555.386	3759.866	4547.714
	Earnings / (Loss) Per Share (INR)	201.45	148.57	190.40

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2016	31.03.2015	31.03.2014
Current Maturities of Long term debt	205.974	307.788	106.284
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	3460.009	2191.301	2144.941
Net cash flows from (used in) operating activities	2240.944	1480.517	1304.271

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days (Sundry Debtors / Income * 365 Days)	94.96	62.18	61.96
Account Receivables Turnover (Income / Sundry Debtors)	3.84	5.87	5.89
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	60.87	58.71	73.50
Inventory Turnover (Operating Income / Inventories)	1.47	1.08	1.20
Asset Turnover (Operating Income / Net Fixed Assets)	0.54	0.41	0.55

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.17	0.20	0.33
Debt Equity Ratio (Total Liability / Networth)	0.07	0.12	0.21
Current Liabilities to Networth (Current Liabilities / Net Worth)	0.17	0.18	0.37
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.59	0.60	0.80
Interest Coverage Ratio (PBIT / Financial Charges)	32.83	20.72	27.60

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
PAT to Sales ((PAT / Sales) * 100)	%	23.27	21.06	22.59
Return on Total Assets ((PAT / Total Assets) * 100)	%	15.03	11.90	17.40
Return on Investment (ROI) ((PAT / Networth) * 100)	%	18.70	15.01	26.86

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio (Current Assets / Current Liabilities)	3.73	3.50	1.91
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	2.45	2.19	0.91
G-Score Ratio Financial (Networth / Total Assets)	0.80	0.79	0.65
G-Score Ratio Debt (Debts / Equity Capital)	7.55	10.62	14.98
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	3.73	3.50	1.91

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

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2014	31.03.2015	31.03.2016
	(INR In Million)	(INR In Million)	(INR In Million)
Share Capital	117.585	156.724	154.949
Reserves & Surplus	8218.921	13785.191	16615.720
Net worth	8336.506	13941.915	16770.669
Long-term borrowings	1072.924	771.594	565.416
Short term borrowings	582.645	585.153	399.000
Current maturities of long-term debts	106.284	307.788	205.974
Total borrowings	1761.853	1664.535	1170.390
Debt/Equity ratio	0.211	0.119	0.070

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	9909.206	9938.009	13478.678
		0.291	35.628

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	9909.206	9938.009	13478.678
Profit/ (Loss)	2238.792	2092.667	3136.064
	22.59 %	21.06 %	23.27 %

LEGAL CASES

CASE STATUS INFORMATION

Case Details

PRIMARY DETAILS

Main Number

ITTA 95/2017

SR Number

ITTASR 901/2008

Petitioner

COMMISSIONER OF INCOME TAX-II, HYD

Respondent

GLAND PHARMA LTD, HYDERABAD

Petitioner Advocate

K MAMATA

Respondent Advocate

K VASANTKUMAR

Case Category

NPD

District

HYDERABAD

Filing Date

25/03/2008

Registration Date

08/02/2017

Listing Date

15/02/2017

Case Status

PENDING

Purpose

FOR ADMISSION

Hon'ble Judges

The Honourable Sri Justice V RAMASUBRAMANIAN,The Honourable Ms Justice J. UMA DEVI

Category

Category

ITTA

Sub Category

Income Tax Tribunal Appeals

Sub Sub Category

U/Sec. 143 Assessment

IA DETAILS

IA Number	Misc.Paper Type	Status	Prayer	Order Date	Order
IA 1/2016(ITTAMP 278/2016)	Condone Delay in Rep	Disposed	IA PRAYER	07/02/2017

IA SR Details

IA SR Number

Advocate Name

Paper Type

IA SR Filing Date

IA SR Status

USR Details

USR Number	Advocate Name	USR Type	USR Filing Date	Remarks
1/2017	8102/K MAMATA	Memo Proof of Service	07/02/2017	-

CONNECTED MATTERS

Connected Case Number

VAKALATH

Advocate Code

Advocate Name

P/R No.

Remarks

LOWER COURT DETAILS

Court Name	INCOME TAX APPELLATE TRIBUNAL, HYDERABAD BENCH A
District	HYDERABAD
Lower Court Case No.	ITA 55/2001
Hon'ble Judge	BEFORE SHRI PRADEEP PARIKH
Date of Judgement	28-02-2007

PRAYER

to call for the relating to the ITA No 55/Hyd/2001 dt 28 02 2007 for the assessment year 1997-98 and set aside the same

PARTY DETAILS

PETITIONER(S)
S.No	Petitioner(S) Name
1	COMMISSIONER OF INCOME TAX-II HYD Hyderabad

RESPONDENT(S)
S.No	Respondent(S) Name
1	GLAND PHARMA LTD HYDERABAD 6-3-862 Ameerpet Hyderabad

ORDERS

Order on

Judge Name

Date of Ordes

Order Type

Order Details

CASE STATUS INFORMATION

Case Details

PRIMARY DETAILS

Main Number

COMOP 1/2017

SR Number

COMOPSR 8282/2017

Petitioner

Reliance Genemedix Limited

Respondent

Gland Pharma Limited

Petitioner Advocate

S SRI RAM

Respondent Advocate

Case Category

-

District

HYDERABAD

Filing Date

06/11/2017

Registration Date

15/12/2017

Listing Date

05/12/2017

Case Status

PENDING

Purpose

FOR ORDERS ON OFFICE NOTE

Hon'ble Judges

The Honourable Sri Justice A.RAJASHEKER REDDY

Category

Category

-

Sub Category

-

Sub Sub Category

-

IA DETAILS

IA Number	Misc.Paper Type	Status	Prayer	Order Date	Order
IA 1/2017(COMOPMP 1/2017)	Fix an Early Date	Pending	IA PRAYER	-

IA SR Details

IA SR Number

Advocate Name

Paper Type

IA SR Filing Date

IA SR Status

USR Details

USR Number

Advocate Name

USR Type

USR Filing Date

Remarks

CONNECTED MATTERS

Connected Case Number

VAKALATH

Advocate Code

Advocate Name

P/R No.

Remarks

LOWER COURT DETAILS

Court Name	-
District	HYDERABAD
Lower Court Case No.	-
Hon'ble Judge	-
Date of Judgement	null

PRAYER

PARTY DETAILS

PETITIONER(S)
S.No	Petitioner(S) Name
1	Reliance Genemedix Limited (Formerly known as Genemedix PLC) A Company incorporated under the laws of England Having its registered office at 8th floor 105 Wigmore Street London W1U1QY Rep by its Chief Executive Officer Vinay Ranade

RESPONDENT(S)
S.No	Respondent(S) Name
1	Gland Pharma Limited A Company incorporated under the Companies Act 1956 having its registered office at 6-3-862 Ameerpet Hyderabad Represented by its Managing Director

ORDERS

Order on

Judge Name

Date of Ordes

Order Type

Order Details

CASE STATUS INFORMATION

Case Details

PRIMARY DETAILS

Main Number

ITTA 94/2017

SR Number

ITTASR 922/2008

Petitioner

COMMISSIONER OF INCOME TAX-II, HYDERABAD

Respondent

GLAND PHARMA LTD. HYDERABAD

Petitioner Advocate

K MAMATA

Respondent Advocate

K VASANTKUMAR

Case Category

NPD

District

HYDERABAD

Filing Date

25/03/2008

Registration Date

08/02/2017

Listing Date

15/02/2017

Case Status

PENDING

Purpose

FOR ADMISSION

Hon'ble Judges

The Honourable Sri Justice V RAMASUBRAMANIAN,The Honourable Ms Justice J. UMA DEVI

Category

Category

ITTA

Sub Category

Income Tax Tribunal Appeals

Sub Sub Category

U/Sec. 143 Assessment

IA DETAILS

IA Number	Misc.Paper Type	Status	Prayer	Order Date	Order
IA 1/2016(ITTAMP 267/2016)	Condone Delay in Rep	Disposed	IA PRAYER	07/02/2017

IA SR Details

IA SR Number

Advocate Name

Paper Type

IA SR Filing Date

IA SR Status

USR Details

USR Number	Advocate Name	USR Type	USR Filing Date	Remarks
1/2017	8102/K MAMATA	Memo Proof of Service	07/02/2017	-

CONNECTED MATTERS

Connected Case Number

VAKALATH

Advocate Code

Advocate Name

P/R No.

Remarks

LOWER COURT DETAILS

Court Name	INCOME TAX APPELLATE TRIBUNAL, HYDERABAD BENCH A
District	HYDERABAD
Lower Court Case No.	ITA 953/2003
Hon'ble Judge	BEFORE SHRI PRADEEP PARIKH
Date of Judgement	28-02-2007

PRAYER

to call for the records relating to the ITA No 953/Hyd/2003 Dt 28 02 2007 for the Assessment year 1999-2000 and set asidethe same to the aforesaid extent

PARTY DETAILS

PETITIONER(S)
S.No	Petitioner(S) Name
1	COMMISSIONER OF INCOME TAX-II HYDERABAD Hyderabad

RESPONDENT(S)
S.No	Respondent(S) Name
1	GLAND PHARMA LTD HYDERABAD 6-3-862 Ameerpet Hyderabad

ORDERS

Order on

Judge Name

Date of Ordes

Order Type

Order Details

CASE STATUS INFORMATION

Case Details

PRIMARY DETAILS

Main Number

ITTA 96/2017

SR Number

ITTASR 954/2008

Petitioner

COMMISSIONER OF INCOME TAX-II

Respondent

GLAND PHARMA LTD.,

Petitioner Advocate

K MAMATA

Respondent Advocate

K VASANTKUMAR

Case Category

NPD

District

HYDERABAD

Filing Date

25/03/2008

Registration Date

09/02/2017

Listing Date

15/02/2017

Case Status

PENDING

Purpose

FOR ADMISSION

Hon'ble Judges

The Honourable Sri Justice V RAMASUBRAMANIAN,The Honourable Ms Justice J. UMA DEVI

Category

Category

ITTA

Sub Category

Income Tax Tribunal Appeals

Sub Sub Category

U/Sec. 143 Assessment

IA DETAILS

IA Number	Misc.Paper Type	Status	Prayer	Order Date	Order
IA 1/2016(ITTAMP 270/2016)	Condone Delay in Rep	Disposed	IA PRAYER	07/02/2017

IA SR Details

IA SR Number

Advocate Name

Paper Type

IA SR Filing Date

IA SR Status

USR Details

USR Number	Advocate Name	USR Type	USR Filing Date	Remarks
1/2017	8102/K MAMATA	Memo Proof of Service	07/02/2017	-

CONNECTED MATTERS

Connected Case Number

VAKALATH

Advocate Code

Advocate Name

P/R No.

Remarks

LOWER COURT DETAILS

Court Name	INCOME TAX APPELLATE TRIBUNAL, HYDERABAD BENCH A
District	HYDERABAD
Lower Court Case No.	ITA 54/2001
Hon'ble Judge	SHRI PRADEEP PARIKH & SHRI N R S GANESAN
Date of Judgement	28-02-2007

PRAYER

to call for the records relating to the ITA No 54/Hyd/2001 dt 28 02 2007 for the assessment year 1996-97 and set aside the same to the aforesaid extent

PARTY DETAILS

PETITIONER(S)
S.No	Petitioner(S) Name
1	COMMISSIONER OF INCOME TAX-II Hyderabad

RESPONDENT(S)
S.No	Respondent(S) Name
1	GLAND PHARMA LTD 6-3-862 Ameerpet Hyderabad

ORDERS

Order on

Judge Name

Date of Ordes

Order Type

Order Details

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	Yes
5	Buyer visit details	Yes
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees (As per site visit)	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	Yes
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

OBSERVATION POINTS

Name of Company :	GLAND PHARMA LIMITED
Address :	MIG-2, Plot No. 48,49,56,57, Near Amma Pharmacy and Super Market, AP Housing Board Colony, Opposite I.D.P.L. Colony, Balanagar, Chintal, Hyderabad – 500037, Telangana, India
Tel. No.:	91-40-50405000
E-mail :	mahendrapatel.deva@glandpharma.com
Person to whom we met:	Mr. Deva Mahendra Patel Designation : Product Manager
Name Board :	Sighted
Location:	Easy
Landmark (If Any):	Opposite Play Ground
Total Floors of the building:	5 Floor
Subject situated on:	3^rd Floor
Locality:	Residential
Area of premises :	1400 sq. ft.
Area :	Upmarket
No. of employees seen at premises:	40 (Approximately)
Visibility of Items :	· Telephone · Fax Machine · Telex · Computers · Air Conditioners · Office Equipment · Xerox Machine
Neighbour’s Interview :	Mr. Raghu and Mr. Prabhunath (Resident from 1^st and 2^nd Floor) has confirmed that the subject exists on the premises.
Proof of visit:	Photograph / Visiting Card

CORPORATE INFORMATION [AS ON 2016]

The company is a public limited Company domiciled in India and is primarily engaged in manufacturing injectable formulations. The Company has presently three divisions namely Bulk Drugs (one unit is in SEZ), Formulations and Research and Development.

PERFORMANCE AND OPERATIONS REVIEW [AS ON 2016]

During the year, the gross income of the Company was INR 13846.233 million as against INR 10234.502 million during the previous year reflecting a growth of 35.28%.

EXPORTS [AS ON 2016]

Exports contribution to the revenue of the Company is 76%. The company exports to almost 50 countries across 6 continents. During the year, the Company has achieved an export turnover of INR 10259.748 million.

DOMESTIC OPERATIONS [AS ON 2016]

The Domestic sales during the year 2015-16 amounts to INR 3315.220 million. Domestic sales include Co-Marketing, which is a major revenue source for the company in Domestic segment.

UNSECURED LOANS:

PARTICULARS	31.03.2016 INR In Million	31.03.2015 INR In Million
LONG TERM BORROWINGS
Deferred payment liabilities	63.688	66.678
Total	63.688	66.678

INDEX OF CHARGES:

S No	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	G43763648	80010646	SYNDICATE BANK	19/02/1979	26/03/2013	11/05/2017	1800000000.0	CORPORATE FINANCE BRANCH6-3-666, FIRST FLOOR, LUMBINI TOWERS, SOMAJIGUDA HYDERABAD AP500082IN
2	G28445591	10364728	SYNDICATE BANK	30/06/2012	14/09/2012	23/11/2016	1000000000.0	CORPORATE FINANCE BRANCH6-3-666, FIRST FLOOR, LUMBINI TOWERS, SOMAJIGUDA HYDERABAD AP500082IN
3	G03578507	80010582	THE BANK OF NOVA SCOTIA	06/09/2005	11/01/2014	05/05/2016	1400000000.0	6-3-346/1, ROAD NO 1 BANJARA HILLS HYDERABAD AP500034IN
4	G01872159	10378069	ICICI BANK LIMITED	10/09/2012	31/01/2013	07/04/2016	1000000000.0	ICICI BANK TOWERSPLOT NO.12, GACHIBOWLI HYDERABAD AP500032IN
5	B73579302	80010628	SYNDICATE BANK	13/12/2004	-	23/04/2013	75000000.0	CORPORATE FINANCE BRANCH SOMAJIGUDA HYDERABAD AP500082IN
6	B73564262	80010633	SYNDICATE BANK	25/05/2001	-	23/04/2013	50000000.0	CORPORATE FINANCE BRANCH SOMAJIGUDA HYDERABAD AP500082IN
7	B14214571	80010596	TECHNOLOGY DEVELOPMENT BOARD	28/03/2002	-	24/05/2011	35000000.0	DEPARTEMNT OF SCIENCE AND TECHNOLOGYTECHNOLOGY BHAVAN, NEW MEHRAULI ROAD NEW DELHI DL110016IN
8	B12785267	80010631	SYNDICATE BANK	20/06/2002	-	11/05/2011	300000.0	CORPORATE FINANCE BRANCH SOMAJIGUDA HYDERABAD AP500082IN
9	B10287142	80010591	EXPORT IMPORT BANK OF INDIA	26/06/2002	-	24/03/2011	108000000.0	CENTRE ONEWORLD TRADE CENTRE MUMBAI MH400005IN
10	B10486975	80010996	EXPORT IMPORT BANK OF INDIA	09/09/2004	-	24/03/2011	100000000.0	CENTRE ONE, WORLD TRADE CENTRE CUFFE PARADE MUMBAI MH400005IN

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Furniture and Fixture

· Office Equipment

· Computer

· Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	INR
US Dollar	1	INR 64.82
UK Pound	1	INR 90.40
Euro	1	INR 79.76

INFORMATION DETAILS

Information Gathered by :	SPR
Analysis Done by :	VVK
Report Prepared by :	NKT

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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

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

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

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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

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