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|
|
MIRA INFORM REPORT
|
Report No. : |
484933 |
|
Report Date : |
09.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
MEDLEY PHARMACEUTICALS LIMITED (w.e.f. 30.06.1996) |
|
|
|
|
Formerly Known
As : |
MEDLEY PHARMACEUTICALS PRIVATE LIMITED |
|
|
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|
Registered
Office : |
Medley Housed, D-2, M.I.D.C. Area, 16th Road, Andheri (East), Mumbai – 400093, Maharashtra |
|
Tel. No.: |
91 - 22 - 30887777, 30888981 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of Incorporation
: |
15.04.1975 |
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|
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|
Com. Reg. No.: |
11-018296 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 319.370 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1975PLC018296 |
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|
|
|
IEC No.: |
0391007807 |
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GSTIN: |
Not Divulged |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM21128C |
|
|
|
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PAN No.: [Permanent Account No.] |
AAACM2764J |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturers of dealers in and exporters and importers of all kinds
of Pharmaceutical products, drugs, and medical products. (Registered
Activity) |
|
|
|
|
No. of Employees
: |
Not Available |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 9200000 |
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|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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Comments : |
Subject was incorporated in the year 1975. It is a manufacturer, dealer,
exporter and importer of pharmaceutical products, drugs and medical products. As per the financial of 2017, the company has achieved a fair. Growth
of 10.52% in its revenue as compared to the previous year and has earned a
favourable net profit margin of 9.00%. The company possesses strong financial profile marked by sound net
worth base along with low debt balance sheet profile and comfortable
liquidity parameters. Business is active. Payments are reported to be regular and as per
commitment. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions.
|
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Loans (A+) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
31.10.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Loans (A1) |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
31.10.2017 |
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.
LOCATIONS
|
Registered Office : |
Medley Housed, D-2, M.I.D.C. Area, 16th Road, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-30887777, 30888981 |
|
Fax No.: |
91-22-28204453 |
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E-Mail : |
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|
Website : |
|
|
|
|
|
Factory 1: |
Lane No-03, Phase- 1, SIDCO Industrial Estate, Bari Brahmana, Jammu- 181133, Jammu and Kashmir, India |
|
Tel. No.: |
91-1923-220749 |
|
|
|
|
Factory 2: |
MPD4, Survey No- 378/7&8 379/2&3, Kabra Industrial Estate, Kachigam, Daman (UT) - 396210, India |
|
Tel. No.: |
91-260-2244391/92 |
|
|
|
|
Factory 3: |
F–13, M.I.D.C., Tarapur, Boisar, District Thane – 401 506, Maharashtra, India |
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Tel. No.: |
91-2525–661026 |
|
|
|
|
Research Center |
26/71 Saug Baug , Marol Industrial Estate, Off Andheri Kurla Road, Andheri (East), Mumbai -400059, Maharashtra, India |
|
Tel. No.: |
91 - 22 - 33785924 |
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Fax No.: |
91 - 22 - 33785959 |
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|
|
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Overseas Office: |
2A, Olympic Way, Sefton Business Park, Liverpool, L30 1RD, United Kingdom |
|
Tel. No.: |
+44 (0)151 521 4527 |
|
Fax. No: |
+44 (0)151 521 0140 |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sahir Sami Khatib |
|
Designation : |
Wholetime Director |
|
Address : |
Shoa, Plot No.25, Gulmohar Cross Road No.5, JVPD, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
26.10.1962 |
|
Qualification : |
BSC, B PHARMA |
|
Date of Appointment : |
01.04.2015 |
|
PAN No: |
AABPK6776G |
|
DIN No: |
00043681 |
|
|
|
|
Name : |
Mr. Sarosh Sami Khatib |
|
Designation : |
Wholetime Director |
|
Address : |
Shoa, Plot No.25, Gulmohar Cross Road No.5, JVPD, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
21.02.1964 |
|
Qualification : |
B PHARM, MMM |
|
PAN No: |
AABPK6775F |
|
Date of Appointment : |
17.07.1987 |
|
DIN No: |
00058143 |
|
|
|
|
Name : |
Mr. Saba Mir Asif Ali |
|
Designation : |
Director |
|
Address : |
51, Nupur, Gulmohar Cross Road No.4 JVPD, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
06.02.1959 |
|
Qualification : |
B.SC. Diploma in Management Studies from NMIM, Computer Programming & Management Applications and Graphic Design |
|
Date of Appointment : |
24.02.2015 |
|
DIN No: |
00058184 |
|
|
|
|
Name : |
Mr. Mirasif Mirmohsin Ali |
|
Designation : |
Wholetime Director |
|
Address : |
51, Nupur, Gulmohar Cross Road No.4 JVPD, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
25.12.1952 |
|
Qualification : |
MBBS |
|
Date of Appointment : |
27.09.1999 |
|
DIN No: |
00058250 |
|
Name : |
Mr. Mushtaq Ataullah Antulay |
|
Designation : |
Director |
|
Address : |
Moonlight 158, Maharshi Karve Road, Mumbai-400020, Maharashtra, India |
|
Date of Birth/Age : |
24.06.1953 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
14.02.2011 |
|
DIN No: |
00694678 |
|
|
|
|
Name : |
Mr. Suhel Sami Khatib |
|
Designation : |
Director |
|
Address : |
Shoa, Plot No.25, Gulmohar Cross Road No.5, JVPD, Vile Parle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
10.02.1961 |
|
Qualification : |
B-Tech (Chem) |
|
Date of Appointment : |
01.04.2010 |
|
PAN No: |
AABPK6779K |
|
DIN No: |
00904454 |
|
|
|
|
Name : |
Mr. Shuaib Mustafa Fakih |
|
Designation : |
Director |
|
Address : |
77 / 7, N.S. Patkar Marg, Jahangir Mansion, 3 Rd Floor, Mumbai-400007, Maharashtra, India |
|
Date of Birth/Age : |
18.06.1952 |
|
Qualification : |
Master of Financial Management from Bajaj Institute of Management, Diploma In Operations Research, M.Com |
|
Date of Appointment : |
30.06.2012 |
|
DIN No: |
05267982 |
|
|
|
|
Name : |
Mr. Surendra Kumar Ramsanehi Sharma |
|
Designation : |
Wholetime Director |
|
Address : |
Building No.42, Flat No.202, 2nd Floor 23, Mhada Code No.128, Oshiwara, Mumbai-400102, Maharashtra, India |
|
Date of Birth/Age : |
30.06.1958 |
|
Qualification : |
MSC, MBA |
|
Date of Appointment : |
16.08.2017 |
|
DIN No: |
01204773 |
KEY EXECUTIVES
|
Name : |
Sanjay Dholakia and Associates |
|
Designation : |
Company Secretary |
|
Address : |
GP-15, Second Floor, Raghuleela Mall, Behind Poinsur Bus Depot, Kandivali (West), Mumbai – 400067, Maharashtra, India |
|
Tel. No: |
91-22-28073233 |
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Mob. No: |
91-9870031365 |
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Fax. No: |
|
|
PAN No.: |
AABPD0127E |
|
|
|
|
Name : |
Mr. Ravindra Baliram More |
|
Designation : |
Company Secretary |
|
Address : |
E-303, Rail Nagar Society, Vazira Naka, L T Road, Borivali (West),
Mumbai-400092, Maharashtra, India |
|
Date of Birth/Age : |
17.10.1971 |
|
Qualification : |
CS, LLB(GEN), BCOM |
|
Date of Appointment : |
01.12.2014 |
|
PAN No.: |
AFTPM3830J |
|
|
|
|
Name : |
Mr. Surendra Kumar Ramsanehi Sharma |
|
Designation : |
Chief Executive Officer |
|
Address : |
Building No.42, Flat No.202, 2nd Floor 23, Mhada Code No.128,
Oshiwara, Mumbai-400102, Maharashtra, India |
|
Date of Birth/Age : |
30.06.1958 |
|
Qualification : |
MSC, MBA |
|
Date of Appointment : |
16.08.2017 |
|
PAN No.: |
AAEPS8514M |
|
DIN No: |
|
|
|
|
|
Name : |
Mr. Firdaus Jehangir Tarachand |
|
Designation : |
Chief Finance Officer |
|
Address : |
102, Luv Apartments Off Veera Desai Road, Andheri (West),
Mumbai-400053, Maharashtra, India |
|
Date of Appointment : |
10.12.2014 |
|
PAN No.: |
AANPT5550H |
MAJOR SHAREHOLDERS
As on 31.03.2017
SHAREHOLDER FILES ARE ATTTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
96.13 |
|
Promoters (Individual/Hindu Undivided Family (Non-resident Indian (NRI)) |
3.76 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
0.11 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of dealers in and exporters and importers of all kinds
of Pharmaceutical products, drugs, and medical products. (Registered Activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Delloite Haskins and Sells Chartered Accountants |
|
Address : |
Tower 3, 27-32 Floor, Indiabulls Finance Centre, Senapati Bapat Marg, Elphinstone (West) Mumbai-400013, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFD7919A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
|
CAPITAL STRUCTURE
As on: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
66000000 |
Equity Shares |
INR 5/- each |
INR 330.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
63874000 |
Equity Shares |
INR 5/- each |
INR 319.370 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
319.370 |
319.370 |
319.370 |
|
(b) Reserves & Surplus |
2902.325 |
2405.194 |
2184.989 |
|
(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) |
3221.695 |
2724.564 |
2504.359 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
60.334 |
142.071 |
170.452 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
73.241 |
60.470 |
61.095 |
|
(d) long-term
provisions |
52.079 |
44.387 |
102.816 |
|
Total Non-current
Liabilities (3) |
185.654 |
246.928 |
334.363 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
464.431 |
670.689 |
569.897 |
|
(b) Trade
payables |
728.717 |
664.180 |
520.582 |
|
(c) Other
current liabilities |
175.774 |
184.652 |
251.581 |
|
(d) Short-term
provisions |
42.805 |
42.973 |
105.272 |
|
Total Current
Liabilities (4) |
1411.727 |
1562.494 |
1447.332 |
|
|
|
|
|
|
TOTAL |
4819.076 |
4533.986 |
4286.054 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1945.311 |
1495.819 |
1408.942 |
|
(ii)
Intangible Assets |
7.982 |
12.785 |
9.171 |
|
(iii)
Capital work-in-progress |
6.048 |
513.855 |
439.877 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
360.962 |
311.428 |
316.385 |
|
(c) Deferred tax assets (net) |
10.965 |
8.019 |
10.452 |
|
(d) Long-term Loan and Advances |
326.047 |
175.507 |
180.356 |
|
(e) Other
Non-current assets |
5.991 |
5.652 |
5.304 |
|
Total Non-Current
Assets |
2663.306 |
2523.065 |
2370.487 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
52.427 |
43.772 |
0.000 |
|
(b)
Inventories |
672.103 |
694.445 |
753.728 |
|
(c) Trade
receivables |
1041.891 |
1000.889 |
852.577 |
|
(d) Cash
and cash equivalents |
108.515 |
17.504 |
49.007 |
|
(e)
Short-term loans and advances |
279.724 |
253.176 |
258.385 |
|
(f) Other
current assets |
1.110 |
1.135 |
1.870 |
|
Total
Current Assets |
2155.770 |
2010.921 |
1915.567 |
|
|
|
|
|
|
TOTAL |
4819.076 |
4533.986 |
4286.054 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
5523.278 |
4997.640 |
4604.874 |
|
|
Other Income |
50.565 |
26.415 |
42.597 |
|
|
TOTAL |
5573.843 |
5024.055 |
4647.471 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
894.559 |
856.853 |
918.683 |
|
|
Purchases of
Stock-in-Trade |
1173.766 |
955.552 |
961.620 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
34.262 |
15.994 |
(167.839) |
|
|
Employees benefits
expense |
1313.460 |
1364.524 |
1190.556 |
|
|
CSR Expenditure |
10.100 |
8.000 |
8.500 |
|
|
Other expenses |
1234.294 |
1124.961 |
1003.201 |
|
|
TOTAL |
4660.441 |
4325.884 |
3914.721 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
913.402 |
698.171 |
732.750 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
52.835 |
78.469 |
49.789 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
860.567 |
619.702 |
682.961 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
128.976 |
117.712 |
123.779 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
731.591 |
501.990 |
559.182 |
|
|
|
|
|
|
|
Less |
TAX |
234.460 |
166.470 |
94.842 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
497.131 |
335.520 |
464.340 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
760.581 |
758.194 |
616.846 |
|
|
TOTAL EARNINGS |
760.581 |
758.194 |
616.846 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
93.268 |
98.223 |
60.685 |
|
|
Capital Goods |
2.813 |
23.037 |
15.220 |
|
|
TOTAL IMPORTS |
96.081 |
121.260 |
75.905 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
7.78 |
5.25 |
7.27 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
79.599 |
81.904 |
69.132 |
|
Cash generated from operations |
917.465 |
725.626 |
351.039 |
|
Net cash flows from (used in) operating activity |
683.097 |
565.610 |
217.505 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
68.85 |
73.10 |
67.58 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
5.30 |
4.99 |
5.40 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
128.60 |
133.76 |
101.05 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.36 |
1.01 |
0.97 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.47 |
0.35 |
0.39 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.32 |
0.39 |
0.39 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /
Networth) |
0.19 |
0.33 |
0.32 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.44 |
0.57 |
0.58 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.61 |
0.74 |
0.74 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
17.29 |
8.90 |
14.72 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
9.00 |
6.71 |
10.08 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
10.32 |
7.40 |
10.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
15.43 |
12.31 |
18.54 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.53 |
1.29 |
1.32 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.05 |
0.84 |
0.80 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.67 |
0.60 |
0.58 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
1.89 |
2.80 |
2.53 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.53 |
1.29 |
1.32 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR In
Million |
INR
In Million |
|
Share Capital |
319.370 |
319.370 |
319.370 |
|
Reserves & Surplus |
2184.989 |
2405.194 |
2902.325 |
|
Net
worth |
2504.359 |
2724.564 |
3221.695 |
|
|
|
|
|
|
long-term borrowings |
170.452 |
142.071 |
60.334 |
|
Short term borrowings |
569.897 |
670.689 |
464.431 |
|
Current maturities of
long-term debts |
69.132 |
81.904 |
79.599 |
|
Total
borrowings |
809.481 |
894.664 |
604.364 |
|
Debt/Equity
ratio |
0.323 |
0.328 |
0.188 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
4604.874 |
4997.640 |
5523.278 |
|
|
|
8.529 |
10.518 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
4604.874 |
4997.640 |
5523.278 |
|
Profit |
464.340 |
335.520 |
497.131 |
|
|
10.08% |
6.71% |
9.00% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
319.370 |
319.370 |
|
(b) Reserves &
Surplus |
2777.470 |
2336.172 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2) Minority Interest |
75.762 |
61.126 |
|
Total Shareholders’ Funds
(1) + (2) |
3172.602 |
2716.668 |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) long-term borrowings |
85.333 |
165.497 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
123.509 |
116.673 |
|
(d) long-term provisions |
54.913 |
46.480 |
|
Total Non-current
Liabilities (3) |
263.755 |
328.650 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term borrowings |
830.510 |
987.785 |
|
(b) Trade payables |
861.406 |
732.624 |
|
(c) Other current
liabilities |
206.157 |
246.010 |
|
(d) Short-term provisions |
48.912 |
47.198 |
|
Total Current Liabilities
(4) |
1946.985 |
2013.617 |
|
|
|
|
|
TOTAL |
5383.342 |
5058.935 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible assets |
2240.826 |
1812.067 |
|
(ii) Intangible Assets |
83.383 |
112.235 |
|
(iii) Capital
work-in-progress |
6.048 |
513.855 |
|
(iv) Intangible assets
under development |
3.920 |
0.000 |
|
(b) Non-current
Investments |
0.132 |
0.132 |
|
(c) Deferred tax assets
(net) |
10.965 |
8.019 |
|
(d) Long-term Loan and Advances |
334.150 |
182.523 |
|
(e) Other Non-current
assets |
5.991 |
5.652 |
|
Total Non-Current Assets |
2685.415 |
2634.483 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
52.427 |
43.772 |
|
(b) Inventories |
974.776 |
920.253 |
|
(c) Trade receivables |
1186.442 |
1099.236 |
|
(d) Cash and cash
equivalents |
143.121 |
63.671 |
|
(e) Short-term loans and
advances |
339.743 |
296.205 |
|
(f) Other current assets |
1.418 |
1.315 |
|
Total Current Assets |
2697.927 |
2424.452 |
|
|
|
|
|
TOTAL |
5383.342 |
5058.935 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
Income |
6,744.083 |
5938.674 |
|
|
Other Income |
44.249 |
31.671 |
|
|
TOTAL |
6788.332 |
5970.345 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
1862.356 |
1587.810 |
|
|
Purchases of
Stock-in-Trade |
1226.393 |
989.588 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(43.012) |
(61.269) |
|
|
Employees benefits
expense |
1408.114 |
1438.044 |
|
|
CSR Expenditure |
10.100 |
8.000 |
|
|
Prior Period |
0.000 |
3.225 |
|
|
Other expenses |
1393.711 |
1234.834 |
|
|
TOTAL |
5857.662 |
5200.232 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
930.670 |
770.113 |
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
74.090 |
97.052 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
856.580 |
673.061 |
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
164.471 |
158.302 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
692.109 |
514.759 |
|
|
|
|
|
|
Less |
TAX |
241.237 |
173.006 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
450.872 |
341.753 |
|
|
|
|
|
|
Add |
SHARE OF PROFIT (LOSS) OF
ASSOCIATES |
(14.636) |
(25.507) |
|
|
|
|
|
|
|
NET PROFIT |
436.236 |
316.246 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
6.83 |
4.95 |
LEGALS
FILE
|
Case Details |
|
Bench:-Bombay |
|
Presentation Date:- |
15/05/2017 |
||||||||
|
Lodging
No.:- |
ITXAL/1199/2017 |
Filing
Date:- |
15/05/2017 |
Reg.
No.:- |
ITXA/1226/2017 |
Reg.
Date:- |
01/09/2017 |
||
|
Petitioner:- |
PR.
COMMISSIONER OF INCOME TAX - 10 |
Respondent:- |
MEDLEY PHARMACEUTICALS LIMITED |
|
Petn.Adv.:- |
AKHILESHWAR
SHARMA (827) |
Resp.Adv.:- |
D
M HARISH AND COMPANY (I8165) |
|
District:- |
MUMBAI |
|
Bench:- |
DIVISION |
||||
|
Status:- |
Pre-Admission |
Category:- |
TAX
APPEALS |
|
Next
Date:- |
25/04/2018 |
Stage:- |
FOR
REJECTION [ORIGINAL SIDE MATTERS] |
|
Coram:- |
ACCORDING
TO SITTING LIST |
|
ACCORDING
TO SITTING LIST |
|
Act
:- |
Income
Tax Act, 1961 |
Under
Section:- |
260
A |
|
Case Details |
|
Bench:-Bombay |
|
Presentation Date:- |
25/01/2017 |
||||||||
|
Lodging
No.:- |
ITXAL/257/2017 |
Filing
Date:- |
25/01/2017 |
Reg.
No.:- |
ITXA/510/2017 |
Reg.
Date:- |
23/03/2017 |
||
|
Petitioner:- |
PR.
COMMISSIONER OF INCOME TAX - 10 |
Respondent:- |
MEDLEY PHARMACEUTICALS LIMITED |
|
Petn.Adv.:- |
AKHILESHWAR
SHARMA (827) |
Resp.Adv.:- |
D
M HARISH AND COMPANY (I8165) |
|
District:- |
MUMBAI |
|
Bench:- |
DIVISION |
||||
|
Status:- |
Pre-Admission |
Category:- |
TAX
APPEALS |
|
Next
Date:- |
19.03.2018 |
Stage:- |
-- |
|
Coram:- |
ACCORDING
TO SITTING LIST |
|
ACCORDING
TO SITTING LIST |
|
Act
:- |
Income
Tax Act, 1961 |
Under
Section:- |
260
A |
|
Case Details |
|
Bench:-Bombay |
|
Presentation Date:- |
25/01/2017 |
||||||||
|
Lodging
No.:- |
ITXAL/258/2017 |
Filing
Date:- |
25/01/2017 |
Reg.
No.:- |
ITXA/511/2017 |
Reg.
Date:- |
21.03.2017 |
||
|
Petitioner:- |
PR.
COMMISSIONER OF INCOME TAX - 10 |
Respondent:- |
MEDLEY PHARMACEUTICALS LIMITED |
|
Petn.Adv.:- |
AKHILESHWAR
SHARMA (827) |
Resp.Adv.:- |
D
M HARISH AND COMPANY (I8165) |
|
District:- |
MUMBAI |
|
Bench:- |
DIVISION |
||||
|
Status:- |
Pre-Admission |
Category:- |
TAX
APPEALS |
|
Next
Date:- |
19.03.2018 |
Stage:- |
-- |
|
Coram:- |
ACCORDING
TO SITTING LIST |
|
ACCORDING
TO SITTING LIST |
|
Act
:- |
Income
Tax Act, 1961 |
Under
Section:- |
260
A |
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 |
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 |
Yes |
|
26 |
Turnover of firm for last two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
STATE OF AFFAIRS/
PERFORMANCE:
During the year, the Company revenue from operations stood at INR 5523.279 Million as against INR 4997.640 Million in the previous year. The Company has earned a Net profit of INR 496.873 Million as compared to the Profit of INR 335.520 Million during the previous accounting year.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
30.000 |
290.000 |
|
Loans and advances from related parties |
66.400 |
50.000 |
|
Total |
96.400 |
340.000 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C65196206 |
10561110 |
ICICI BANK LIMITED |
30/03/2015 |
10/09/2015 |
- |
65000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
2 |
B71464135 |
10388032 |
State Bank of India |
06/11/2012 |
11/03/2013 |
- |
312500000.0 |
Singapore Branch, 135, Cecil Street #01-00SingaporeSingaporeNA069536SG |
|
3 |
C76894534 |
10165956 |
ICICI BANK LIMITED |
20/05/2009 |
12/01/2016 |
- |
250000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
4 |
A98044092 |
90240567 |
STATE BANK OF INDIA |
31/03/1999 |
01/11/2010 |
- |
173000000.0 |
INDUSTRIAL FINANCE BRANCH, SNEHAL CHAMBERSTELI GULLI, ANDHERI (EAST)MUMBAIMH400069IN |
|
5 |
C57561425 |
10304448 |
State Bank of India |
08/07/2010 |
- |
09/06/2015 |
20000000.0 |
M.I.D.C ANDHERI (E) BRANCH, PLOT NO. B-1,CENTRAL ROAD, ANDHERI (E),MUMBAIMH400093IN |
|
6 |
B94601804 |
10088386 |
3i Infotech Trusteeship Services Limited |
15/01/2008 |
- |
24/01/2014 |
80000000.0 |
3rd to 6th floor, International Infotech Park,Tower No.5, Vashi Railway Station Complex, VashiNavi MumbaiMH400703IN |
|
7 |
B90787078 |
90240433 |
STATE BANK OF INDIA |
09/02/1998 |
01/11/2010 |
21/11/2013 |
15000000.0 |
INDUSTRIAL FINANCE BRANCH, SNEHAL CHAMBERSTELI GULLI, ANDHERI (EAST)MUMBAIMH400069IN |
|
8 |
B89718530 |
90243549 |
STATE BANK OF INDIA |
27/12/2001 |
01/11/2010 |
28/10/2013 |
50400000.0 |
INDUSTRIAL FINANCE BRANCH, SNEHAL CHAMBERSTELI GULLI, ANDHERI (EAST)MUMBAIMH400069IN |
|
9 |
B63445563 |
10037210 |
ICICI BANK LIMITED |
21/12/2006 |
30/01/2009 |
23/11/2012 |
180000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
10 |
B26434266 |
10005652 |
ICICI BANK LIMITED |
20/03/2006 |
- |
16/11/2011 |
65000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
FIXED ASSETS
Tangible assets
- Land
- Residential building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipment’s
Intangible assets
- Brands and trade marks
- Trade marks
- Computer software
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 63.35 |
|
|
1 |
INR 85.89 |
|
Euro |
1 |
INR 76.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
MTN |
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.