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|
|
MIRA INFORM REPORT
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Report No. : |
485029 |
|
Report Date : |
09.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
GLOCHEM INDUSTRIES PRIVATE LIMITED (w.e.f.
07.07.2017) |
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|
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|
Formerly known
as : |
GLOCHEM INDUSTRIES LIMITED |
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Registered
Office : |
G.V. Chambers 7-2-C8 and C8/2, Sanata Nagar, Hyderabad – 500018,
Telangana |
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Mobile No.: |
91-9849847907 (Mr. Madipalli Gopala Krishna) |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of Incorporation
: |
20.11.1995 |
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Com. Reg. No.: |
36-022303 |
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Capital
Investment / Paid-up Capital : |
INR 27.401 Million |
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CIN No.: [Company Identification
No.] |
U24110TG1995PTC022303 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTIN : |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAACG9134E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in the business of manufacturing and marketing of Active Pharma Ingredients (APIs), drug intermediates, finished dosage forms (FDF) and contract manufacturing of FDF. (Registered activity) |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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Maximum Credit Limit : |
USD 2600000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1995 and it is having fine track. GIL is engaged into manufacturing of Active Pharmaceutical Ingredients (API’s), drug intermediaries, fine chemicals and undertakes contract manufacturing of APIs and intermediates for various global and local players. Management of the company has not filed its financials of 2017 with government department. For the financial year 2016, the company has increased its revenue from operation as compared to previous year and maintained healthy profitability margin of 10.75%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and low debt balance sheet. Further, rating also reflects from its experienced of management, long track record of operations with presence in various regulated markets stable industry growth prospects and improvement in the revenue as well as profitability profile during the year. However, rating strength is partially offset by forex risk on account of exports and regulatory challenges have been an integral part of the pharma industry. Trade relations are reported as fair. Business is active. Payments terms are reported 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 |
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Moderately Low
Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderately High
Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Fund Base CC Limit = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
12.12.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
12.12.2017 |
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 09.01.2018
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. Madipalli Gopala Krishna |
|
Designation : |
General Manager |
|
Contact No.: |
91-9849847907 |
|
Date : |
08.01.2018 |
LOCATIONS
|
Registered Office /
Corporate Office: |
G.V. Chambers 7-2-C8 and C8/2, Sanata Nagar, Hyderabad – 500018,
Telangana, India |
|
Tel. No.: |
91-40-39219900 |
|
Mobile No.: |
91-9849847907 (Mr. Madipalli Gopala Krishna) |
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Fax No.: |
91-40-23711483 /23813850 |
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E-Mail : |
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Website : |
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Unit-I, Bollaram,
Hyderabad: |
Survey No. 174-176, IDA Bollaram, Medak (District) -
502325, Telangana State, India. |
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Tel. No.: |
91- 8452+302945 / 46 |
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Fax No.: |
91-8458-279058 |
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E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Vikram Ravindra Mamidipudi |
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Designation : |
Director |
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Address : |
Plot No.16, Card Master Road Arihant Road, Tarbund, Secunderabad – 500009, Telangana, India |
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Date of Birth/Age : |
18.05.1956 |
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Qualification : |
B.Sc, FCA, LLB |
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Date of Appointment : |
24.03.1999 |
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DIN No.: |
00008241 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Mohanakrishna Reddy Arvabumi |
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Designation : |
Director |
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Address : |
8-2-293/82/W/78, New No-123, Road No-5, Womens Cop House Society, Jubilihills, Hyderabad – 500034, Telangana, India |
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Date of Birth/Age : |
03.05.1956 |
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Qualification : |
MBA, MA |
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Date of Appointment : |
24.12.2003 |
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DIN No.: |
00093185 |
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Other Directorship:
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Name : |
Mr. Subbarao Kattamuri |
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Designation : |
Managing Director |
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Address : |
Plot No : 48, Nava Nirman Nagar, Road No.71, Jubilee Hills, Hyderabad – 500033, Telangana, India |
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Date of Birth/Age : |
10.03.1953 |
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Qualification : |
B.Com FCA |
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Date of Appointment : |
01.07.2011 |
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PAN No.: |
AEDPK4078F |
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DIN No.: |
00107121 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Hazarath Basha Shaik |
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Designation : |
Wholetime Director |
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Address : |
Mastana Mahal, 22-307/7A, Phase –II, Opposite KPHB, Bhagya Nagar Colony, Near Sivaparvathi Theatre, Kukatpally, Hyderabad – 500072, Telangana, India |
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Date of Birth/Age : |
23.03.1956 |
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Qualification : |
M.Tech |
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Date of Appointment : |
01.07.2011 |
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PAN No.: |
AFVPS5026G |
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DIN No.: |
01321868 |
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Name : |
Mr. Sundeep Kattamuri |
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Designation : |
Wholetime Director |
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Address : |
Plot No.48,Navanirman Nagar, Jubilee Hills, Road No.71, Hyderabad – 500033, Telangana, India |
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Date of Birth/Age : |
17.11.1983 |
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Qualification : |
MS |
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Date of Appointment : |
05.09.2011 |
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PAN No.: |
BRMPK2131G |
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DIN No.: |
03128742 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Madipalli Gopala Krishna |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2016
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided Family
– Indian) |
52.70 |
|
Public – (Individual/ Hindu
Undivided Family – Indian) |
22.25 |
|
Public - Bodies corporate |
25.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and marketing of Active Pharma Ingredients (APIs), drug intermediates, finished dosage forms (FDF) and contract manufacturing of FDF. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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 : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
1-8-384 and 385, Gowra Grand, 3rd Floor, SP Road, Secunderabad - 500003, Telangana, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD3771D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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Subsidiaries : |
U24239AP2002PTC038417 |
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|
|
|
KMP having
significant influence (K.Subbarao) |
U24232TG2013PLC085349
U01119TG2010PTC069551 |
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|
|
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Enterprise in which
relatives of KMP can exercise significant Influence : |
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Others : |
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CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3629080 |
Equity Shares |
INR 10/- each |
INR 36.291
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 |
36.291 |
36.291 |
36.291 |
|
(b) Reserves and Surplus |
865.844 |
726.562 |
661.136 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
902.135 |
762.853 |
697.427 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
24.228 |
81.341 |
102.170 |
|
(b) Deferred tax liabilities (Net) |
21.070 |
25.175 |
33.955 |
|
(c) Other long-term
liabilities |
0.000 |
67.120 |
123.390 |
|
(d) long-term
provisions |
8.610 |
17.040 |
4.906 |
|
Total Non-current
Liabilities (3) |
53.908 |
190.676 |
264.421 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
232.329 |
234.634 |
163.343 |
|
(b) Trade
payables |
248.820 |
273.382 |
184.203 |
|
(c) Other
current liabilities |
117.112 |
160.865 |
227.239 |
|
(d) Short-term
provisions |
60.068 |
42.842 |
17.600 |
|
Total Current Liabilities
(4) |
658.329 |
711.723 |
592.385 |
|
|
|
|
|
|
TOTAL |
1614.372 |
1665.252 |
1554.233 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
385.018 |
385.183 |
374.671 |
|
(ii)
Intangible Assets |
2.544 |
2.213 |
2.012 |
|
(iii) Tangible assets
capital work-in-progress |
37.332 |
47.245 |
33.133 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
28.116 |
|
(b) Non-current Investments |
341.612 |
323.996 |
199.999 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
13.395 |
8.946 |
27.617 |
|
(e) Other
Non-current assets |
0.000 |
15.000 |
86.604 |
|
Total Non-Current
Assets |
779.901 |
782.583 |
752.152 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
51.367 |
|
(b)
Inventories |
309.450 |
422.989 |
268.636 |
|
(c) Trade
receivables |
340.773 |
251.704 |
158.041 |
|
(d) Cash and
bank balances |
5.532 |
8.990 |
65.281 |
|
(e) Short-term
loans and advances |
78.687 |
67.920 |
69.889 |
|
(f) Other
current assets |
100.029 |
131.066 |
188.867 |
|
Total
Current Assets |
834.471 |
882.669 |
802.081 |
|
|
|
|
|
|
TOTAL |
1614.372 |
1665.252 |
1554.233 |
PROFIT
& LOSS ACCOUNT - STANDALONE
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1266.169 |
914.024 |
652.603 |
|
|
Other Income |
93.446 |
29.171 |
24.705 |
|
|
TOTAL |
1359.615 |
943.195 |
677.308 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
458.980 |
469.364 |
365.440 |
|
|
Purchases of
Stock-in-Trade |
83.398 |
4.805 |
14.850 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
61.336 |
(108.146) |
(110.289) |
|
|
Employee benefit expense |
149.018 |
138.193 |
113.028 |
|
|
CSR expenditure |
0.083 |
0.950 |
0.000 |
|
|
Other expenses |
336.762 |
273.392 |
296.466 |
|
|
Exceptional items before tax |
(52.650) |
0.159 |
(376.049) |
|
|
TOTAL |
1036.927 |
778.717 |
303.446 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
322.688 |
164.478 |
373.862 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
55.552 |
50.512 |
27.847 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
267.136 |
113.966 |
346.015 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
52.580 |
44.242 |
38.193 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
214.556 |
69.724 |
307.822 |
|
|
|
|
|
|
|
Less |
TAX |
78.383 |
33.256 |
102.393 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
136.173 |
36.468 |
205.429 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
476.290 |
406.530 |
301.920 |
|
|
TOTAL EARNINGS |
476.290 |
406.530 |
301.920 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
57.730 |
76.270 |
64.880 |
|
|
Capital Equipment |
10.760 |
4.160 |
1.580 |
|
|
TOTAL IMPORTS |
68.490 |
80.430 |
66.460 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
37.52 |
10.05 |
56.61 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
57.522 |
63.992 |
63.430 |
|
Net cash flows from (used in) operations |
204.638 |
(73.204) |
(196.825) |
|
Net cash flows from (used in) operating activities |
140.072 |
(77.612) |
(263.984) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
98.24 |
100.51 |
88.39 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.72 |
3.63 |
4.13 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
167.45 |
210.44 |
176.80 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.04 |
0.39 |
1.39 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.76 |
0.38 |
0.85 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.46 |
0.51 |
0.49 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.35 |
0.50 |
0.47 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.73 |
0.93 |
0.85 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.47 |
0.57 |
0.63 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
5.81 |
3.26 |
13.43 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
10.75 |
3.99 |
31.48 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
8.44 |
2.19 |
13.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
15.09 |
4.78 |
29.46 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.27 |
1.24 |
1.35 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.80 |
0.65 |
0.90 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.56 |
0.46 |
0.45 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
8.65 |
10.47 |
9.06 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.27 |
1.24 |
1.35 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
36.291 |
36.291 |
36.291 |
|
Reserves & Surplus |
661.136 |
726.562 |
865.844 |
|
Net
worth |
697.427 |
762.853 |
902.135 |
|
|
|
|
|
|
Long-term borrowings |
102.170 |
81.341 |
24.228 |
|
Short term borrowings |
163.343 |
234.634 |
232.329 |
|
Current maturities of
long-term debts |
63.430 |
63.992 |
57.522 |
|
Total
borrowings |
328.943 |
379.967 |
314.079 |
|
Debt/Equity
ratio |
0.472 |
0.498 |
0.348 |
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 |
652.603 |
914.024 |
1266.169 |
|
|
0.000 |
40.058 |
38.527 |
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 |
652.603 |
914.024 |
1266.169 |
|
Profit/ (Loss) |
205.429 |
36.468 |
136.173 |
|
|
31.48
% |
3.99
% |
10.75
% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
36.291 |
36.291 |
|
(b) Reserves & Surplus |
|
864.828 |
709.421 |
|
(c) minority interest |
|
6.627 |
296.227 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
907.746 |
1041.939 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
24.228 |
322.270 |
|
(b) Deferred tax liabilities
(Net) |
|
21.070 |
43.412 |
|
(c) Other long term liabilities |
|
0.000 |
67.120 |
|
(d) long-term provisions |
|
8.610 |
18.692 |
|
Total
Non-current Liabilities (3) |
|
53.908 |
451.494 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
232.329 |
255.685 |
|
(b) Trade payables |
|
248.869 |
297.077 |
|
(c) Other current liabilities |
|
118.751 |
245.398 |
|
(d) Short-term provisions |
|
60.068 |
42.940 |
|
Total
Current Liabilities (4) |
|
660.017 |
841.100 |
|
|
|
|
|
|
TOTAL |
|
1621.671 |
2334.533 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
385.018 |
1169.415 |
|
(ii) Intangible Assets |
|
2.544 |
5.117 |
|
(iii) Capital work-in-progress |
|
50.763 |
52.965 |
|
(iv) Intangible assets under
development |
|
0.000 |
105.733 |
|
(b) Non-current Investments |
|
326.912 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
34.147 |
20.725 |
|
(e) Other Non-current assets |
|
8.296 |
17.373 |
|
Total
Non-Current Assets |
|
807.680 |
1371.328 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
309.450 |
511.563 |
|
(c) Trade receivables |
|
340.773 |
264.893 |
|
(d) Cash and cash equivalents |
|
5.714 |
9.699 |
|
(e) Short-term loans and
advances |
|
59.004 |
73.555 |
|
(f) Other current assets |
|
99.050 |
103.495 |
|
Total
Current Assets |
|
813.991 |
963.205 |
|
|
|
|
|
|
TOTAL |
|
1621.671 |
2334.533 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
1266.169 |
975.880 |
|
|
Other Income |
|
92.467 |
32.227 |
|
|
TOTAL
|
|
1358.636 |
1008.107 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
458.980 |
496.963 |
|
|
Purchases of Stock-in-Trade |
|
83.398 |
4.805 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
|
61.336 |
(164.481) |
|
|
Employees benefits expense |
|
149.018 |
167.196 |
|
|
CSR expenditure |
|
0.083 |
0.950 |
|
|
Exceptional items |
|
(76.574) |
0.160 |
|
|
Other expenses |
|
336.836 |
319.091 |
|
|
TOTAL |
|
1013.077 |
824.684 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
345.559 |
183.423 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
55.552 |
61.663 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
290.007 |
121.760 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
52.580 |
69.478 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
237.427 |
52.282 |
|
|
|
|
|
|
|
Less |
TAX |
|
78.383 |
51.491 |
|
|
|
|
|
|
|
|
TOTAL
PROFIT (LOSS) FOR PERIOD FROM CONTINUING OPERATIONS |
|
159.044 |
0.791 |
|
|
|
|
|
|
|
Profit
(loss) of minority interest |
|
0.038 |
16.311 |
|
|
|
|
|
|
|
|
|
TOTAL
PROFIT (LOSS) FOR PERIOD |
|
159.082 |
17.102 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
43.84 |
4.71 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
|
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
|
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
|
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from 120 Bhanu Enclave, Sundar Nagar, ESI, Hyderabad – 500038,
Telangana, India to the present address w.e.f.
03.06.2006.
FINANCE
Cash and Cash equivalents as at the 31st March, 2016 was Rs. 5,531,000. The company continues to focus on the working capital parameters with strict check through continuous monitoring and does judicious management of its working capital, receivables and inventories.
COMPANY’s WORKING
DURING THE CURRENT YEAR 2015-16 AND THE FUTURE PROSPECTS ALONG WITH REASONS
WHILE COMPARING WITH PREVIOUS YEAR RESULTS
Performance of the Company for the year 2015-16 The Company has achieved a turnover of INR 1338.535 Million for the year ended 31St March 2016 compared to the previous year’s turnover of INR 964.569 Million representing a growth of 38.77%. The Company has earned an EBITDA of INR 322.688 Million for the year as compared to an EBITDA of INR 164.478 for the previous year. During the year the Company has got the renewal of GMP for Vizag Unit successfully. Outlook for the current year 206-17.
Bollarum Operations:
Company continues to increase its market share for the two products namely Amlodipine and Cetirizine to the existing and new customers/markets. Optimization of the capacities and productivity of these two products currently being manufactured by the Company at Bollaram, is ongoing and we expect to achieve the optimum capacities and productivities of these two products at Bollaram by the end of the financial year 16-17. Required capital investments to achieve this objective are on. In the meanwhile, Bollaram is operating at full capacity and will be able to achieve at least 20% higher output over the previous year. The company is ensuring that all the orders from the existing and new customers are being serviced to the best possible extent and the company is also able to achieve optimum prices. As a result, the company expects to achieve a higher, by at least 20 %, turnover and increased margins from the Bollaram operations during the year.
Vizag Operations:
The Company has sold the vizag facility to Torrent Pharmaceuticals during the year and handed over the facility to them on 3rd September 2016. The company has been able to achieve a turnover of about INR 235.000 Million for the 5 months ending August from the Vizag operations. As part of the BTA signed with Torrent, Torrent pharma agreed to execute the pending orders on the date of handing over and the company expects to achieve an additional turnover of about INR 110.000 Million from Vizag operations from 1st September, manufactured by Torrent from Vizag facility.
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G35248921 |
90116056 |
PUNJAB NATIONAL BANK(on behalf of CONSORTIUM of PNB & Axis Bank Ltd) |
24/01/2001 |
31/10/2016 |
- |
285000000.0 |
Hi-Tech City Branch,1Q4-A3, 1st Floor, Cyber TowerMadhapurHyderabadTG500081IN |
|
2 |
G46228789 |
10357060 |
PUNJAB NATIONAL BANK (on behalf of PNB CONSORTIUM where PNB & Axis Bank Ltd are members) |
30/04/2012 |
04/10/2013 |
19/05/2017 |
243800000.0 |
Hi-Tec.City Branch, 1Q4-A3,1st Floor,Cyber TowersMadhapurHyderabadAP500081IN |
|
3 |
G46228110 |
10563352 |
PUNJAB NATIONAL BANK |
23/03/2015 |
- |
19/05/2017 |
13000000.0 |
Hi-Tec.City Branch, 1Q4-A3,1st Floor,Cyber TowersMadhapurHyderabadTG500081IN |
|
4 |
B95126868 |
90259724 |
Axis Bank Limited |
06/08/1996 |
27/07/2013 |
31/01/2014 |
253000000.0 |
Ground & Ist Floor,6-3-879/B,G.Pullareddy BuildingGreenlands,Begumpet Road,HyderabadAP500016IN |
|
5 |
B95078309 |
90115356 |
UTI BANK LIMITED |
06/08/1996 |
29/12/2003 |
31/01/2014 |
6000000.0 |
BEGUMPETHAYDERABADAPIN |
|
6 |
B91346072 |
10396629 |
Punjab National bank |
13/12/2012 |
- |
28/11/2013 |
13000000.0 |
HI-TECH.CITY BRANCH, 1Q4-A3,1ST FLOOR,CYBER TOWERSMADHAPURHYDERABADAP500081IN |
|
7 |
B91911362 |
90119034 |
PUNJAB NATIONAL BANK |
24/01/2001 |
15/12/2002 |
28/11/2013 |
7600000.0 |
1Q4 A3; CYBER TOWERSHITECH CITY; MADHAPURHAYDERABADAP500013IN |
|
8 |
B83339077 |
90117886 |
UTI BANK LIMITED |
29/12/2003 |
- |
29/08/2013 |
7500000.0 |
BEGUMPETHAYDERABADAPIN |
|
9 |
B83428896 |
10035995 |
AXIS BANK LIMITED |
03/01/2007 |
29/05/2009 |
29/08/2013 |
47500000.0 |
6-3-879/B, GREENLANDS ROAD,BEGUMPET,HYDERABADAP500016IN |
|
10 |
Y10210280 |
90117475 |
ANDHRA BANK |
03/06/1999 |
- |
17/04/2000 |
6000000.0 |
RAMACHANDRAPURAM BRANCHMEDAK DISTRICTMEDAKAP502032IN |
FIXED ASSETS
- Land
- Buildings
- Office building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer 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 63.38 |
|
|
1 |
INR 86.02 |
|
Euro |
1 |
INR 76.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.