|
|
|
MIRA INFORM REPORT
|
Report No. : |
486230 |
|
Report Date : |
15.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
LASA SUPERGENERICS LIMITED |
|
|
|
|
Registered
Office : |
C-105, M. I .D.C Mahad, Raigarh - 402301, Maharashtra |
|
Mobile No.: |
91-7798888147 (Mr. Hitesh Wadhwani) |
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|
|
|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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|
|
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Date of
Incorporation : |
11.03.2016 |
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|
|
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Com. Reg. No.: |
11-274202 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 0.500
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24233MH2016PLC274202 |
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|
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|
IEC No.: |
Not Divulged |
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|
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GSTIN : |
27AADCL0382Q1Z2 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AADCL0382Q |
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|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
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Line of Business
: |
· The Company is engaged in the business of manufacturing, producing, processing, preparing, treating chemicals, pharmaceuticals, drugs, Veterinary Preparations etc. (Registered Activity) · Manufacturer and Exporter of Veterinary API Products, Animal Feed Ingredients and Other API products. (Confirmed by Management) |
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|
|
|
No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2016 and it is a manufacturer and exporter of veterinary API products, Animal Feed Ingredients and other API products. As per the financials of March 2017, the company has commenced its business operations but has incurred losses. Rating takes into consideration the company’s limited track record of business operations along with average debt coverage indicator and unfavourable gap between its trade payables to its trade receivables. However, rating weakness is partially offset by sound net worth base of the company. Payments terms are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 15.01.2018
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Hitesh Dhrukumar Wadhwani |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-7798888147 |
|
Date : |
14.01.2018 |
LOCATIONS
|
Registered Office/ Factory : |
C-105, M. I .D.C Mahad, Raigarh - 402301, Maharashtra, India |
|
Tel. No.: |
91-2145-232101/ 232202 |
|
Mobile No.: |
91-7798888147 (Mr. Hitesh Dhrukumar Wadhwani) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office/ Correspondence Address : |
B/207, Second Floor, “CITI POINT", CTS No 244/A of Village Kondivita, CTS No 36/A of Village Chakala, Andheri Kurla Road, J. B. Nagar, Andheri (East), Mumbai 400059, Maharashtra, India |
|
Tel. No.: |
91-22-49701092 |
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E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Omkar Pravin Herlekar |
|||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
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|
Address : |
Vrindavan Bunglow, Juvili Gaon Kulgaon, Near Z P School, Badlapur (East), Badlapur-421503, Maharashtra, India |
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Date of Birth/Age : |
13.03.1981 |
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Qualification : |
Graduate |
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Date of Appointment : |
11.03.2016 |
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PAN No.: |
ACCPH0802P |
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DIN No.: |
01587154 |
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Other
Directorship:
|
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Name : |
Mr. Shivanand Gajanan Hegde |
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Designation : |
Whole-time Director |
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Address : |
B-1, 303, Mohanjyot Chs, Kher Section, Ambernath (East), Thane 421501, Maharashtra, India |
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Date of Appointment : |
02.05.2017 |
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DIN No.: |
00185508 |
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Other
Directorship:
|
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Name : |
Mr. Sumant Madhusudan Kharasamble |
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Designation : |
Whole-time Director |
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Address : |
12, Vaishali Niwas, New Jimmybaug, Near Kalimata Temple, Kalyan East, Thane, Katemanivali Kalyan 421306, Maharashtra, India |
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Date of Appointment : |
02.05.2017 |
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DIN No.: |
07240471 |
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Other
Directorship:
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|
|||||||||||||||||||||||||||||
|
Name : |
Mr. Hardesh Raja Tolani |
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Designation : |
Director |
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Address : |
Bk No. 1643/12, Section - 28, Opposite Searock Palace, Ulhasnagar 421004, Maharashtra, India |
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|
Date of Appointment : |
02.05.2017 |
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DIN No.: |
07811319 |
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|
|||||||||||||||||||||||||||||
|
Name : |
Mrs. Ekta Avtar Gurnasinghani |
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|
Designation : |
Director |
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|
Address : |
103, Anil Palace, Near Dhunichand Kalani Building, O.T. Section, Ulhasnagar 421002, Maharashtra, India |
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|
Date of Appointment : |
02.05.2017 |
|||||||||||||||||||||||||||||
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DIN No.: |
07811337 |
|||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||
|
Name : |
Mr. Ajay Hareshlal Sukhwani |
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Designation : |
Director |
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|
Address : |
101, 1st Floor, Sai Jyot Apartment, Near Vatika Restaurant, Near Bewas Chowk, Ulhasnagar-421001, Maharashtra, India |
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|
Date of Appointment : |
02.05.2017 |
|||||||||||||||||||||||||||||
|
DIN No.: |
07811551 |
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KEY EXECUTIVES
|
Name : |
Mr. Hitesh Dhrukumar Wadhwani |
|
Designation : |
Company Secretary |
|
Address : |
939/5, Section 22, Ulhasnagar, Mumbai-421003, Maharashtra, India |
|
Date of Appointment : |
02.05.2017 |
|
PAN No.: |
ABGPW9389R |
|
|
|
|
Name : |
Mr. Minesh Chandrakant Bhosle |
|
Designation : |
Chief Financial Officer |
|
Address : |
Room No. 4, Samata Apartment, Nandivali Road Near Kalimata Mandir, Dombivli East, Mumbai 421201, Maharashtra, India |
|
Date of Appointment : |
02.05.2017 |
|
PAN No.: |
ATZPB8677L |
MAJOR SHAREHOLDERS
As on September, 2017
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares (calculated as per SCRR, 1957)As a % of |
|
|
(A) Promoter & Promoter
Group |
9420772 |
41.20 |
|
|
(B) Public |
13443677 |
58.80 |
|
|
Grand Total |
22864449 |
100.00 |
Statement showing shareholding pattern of the Promoter and
Promoter Group
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % |
|
|
A1) Indian |
|||
|
Individuals/Hindu
undivided Family |
6754327 |
29.54 |
|
|
Pravin Herlekar |
1335821 |
5.84 |
|
|
Omkar Herlekar |
4901500 |
21.44 |
|
|
Rishikesh Herlekar |
517006 |
2.26 |
|
|
Any Other
(specify) |
2666445 |
11.66 |
|
|
Omkar Speciality Chemicals
Limited |
2286445 |
10.00 |
|
|
Svaks Biotech Private Limited |
380000 |
1.66 |
|
|
Sub
Total A1 |
9420772 |
41.20 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
9420772 |
41.20 |
Statement showing shareholding pattern of the Public
shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Shareholding % calculated as per SCRR, 1957 As a
% |
|
|
B1)
Institutions |
|
|
|
|
Alternate
Investment Funds |
51829 |
0.23 |
|
|
Foreign
Portfolio Investors |
190206 |
0.83 |
|
|
Financial
Institutions/ Banks |
2246 |
0.01 |
|
|
Sub
Total B1 |
244281 |
1.07 |
|
|
B2)
Central Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
B3) Non-Institutions |
0 |
0.00 |
|
|
Individual
share capital upto INR 0.200 million |
8636197 |
37.77 |
|
|
Individual
share capital in excess of INR 0.200 million |
1662776 |
7.27 |
|
|
Any
Other (specify) |
2900423 |
12.69 |
|
|
Bodies Corporate |
1034954 |
4.53 |
|
|
Clearing Members |
1124771 |
4.92 |
|
|
NRI |
740687 |
3.24 |
|
|
Trusts |
11 |
0.00 |
|
|
Sub
Total B3 |
13199396 |
57.73 |
|
|
B=B1+B2+B3 |
13443677 |
58.80 |
BUSINESS DETAILS
|
Line of Business : |
· The Company is engaged in the business of manufacturing, producing, processing, preparing, treating chemicals, pharmaceuticals, drugs, Veterinary Preparations etc. (Registered Activity) · Manufacturer and Exporter of Veterinary API Products, Animal Feed Ingredients and Other API products. (Confirmed by Management) |
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Products / Services
: |
|
||||
|
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|
||||
|
Brand Names : |
Not Available |
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|
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|
||||
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Agencies Held : |
Not Available |
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|
||||
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Exports : |
|||||
|
Products : |
Finished Goods |
||||
|
Countries : |
·
Middle East Countries ·
European Countries |
||||
|
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|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
China |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Advance Payment, Cheque, Credit (30 Days) |
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|
|
|
||||
|
Purchasing : |
Advance Payment, Cheque, Credit (30 Days) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
|
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|
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No. of Employees : |
700 (Approximately) |
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Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Shah and Kathariya Chartered Accountants |
|
Address : |
Room No. 6, Kermani Building, 4Th Floor, 27 Sir P M Road, Fort, Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFS7033G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Other related party
: |
Omkar Speciality Chemicals Limited CIN No.:L24110MH2005PLC151589 |
CAPITAL STRUCTURE
After 06.06.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
INR 10/- each |
INR 350.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22864449 |
Equity Shares |
INR 10/- each |
INR 228.644 Million |
|
|
|
|
|
As on 06.06.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
INR 10/- each |
INR 350.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
INR 10/- each |
INR 0.500 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.500 |
0.500 |
|
(b) Reserves and Surplus |
|
549.117 |
0.000 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
205.780 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
755.397 |
0.500 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
846.576 |
3.504 |
|
(b) Deferred tax liabilities (Net) |
|
1.287 |
0.000 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
12.581 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
860.444 |
3.504 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
231.850 |
0.000 |
|
(b) Trade
payables |
|
253.840 |
0.000 |
|
(c) Other
current liabilities |
|
133.076 |
0.005 |
|
(d) Short-term
provisions |
|
36.919 |
0.000 |
|
Total Current
Liabilities (4) |
|
655.685 |
0.005 |
|
|
|
|
|
|
TOTAL |
|
2271.526 |
4.009 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1128.557 |
0.000 |
|
(ii)
Intangible Assets |
|
42.123 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
|
295.073 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.010 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
4.981 |
0.000 |
|
(e) Other
Non-current assets |
|
2.809 |
3.509 |
|
Total Non-Current
Assets |
|
1473.553 |
3.509 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
334.585 |
0.000 |
|
(c) Trade
receivables |
|
350.417 |
0.000 |
|
(d) Cash and
bank balances |
|
11.623 |
0.500 |
|
(e)
Short-term loans and advances |
|
88.343 |
0.000 |
|
(f) Other
current assets |
|
13.005 |
0.000 |
|
Total
Current Assets |
|
797.973 |
0.500 |
|
|
|
|
|
|
TOTAL |
|
2271.526 |
4.009 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
|
1996.625 |
0.000 |
|
|
Other Income |
|
2.718 |
0.000 |
|
|
TOTAL |
|
1999.343 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1416.704 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
|
(107.836) |
0.000 |
|
|
Employee benefit expense |
|
97.891 |
0.000 |
|
|
Other expenses |
|
137.060 |
0.000 |
|
|
Exceptional items |
|
306.130 |
0.000 |
|
|
TOTAL |
|
1849.949 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
149.394 |
0.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
93.206 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
56.188 |
0.000 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
86.350 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(30.162) |
0.000 |
|
|
|
|
|
|
|
Less |
TAX |
|
(23.909) |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(6.253) |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(125.06) |
0.00 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
|
119.168 |
0.000 |
|
Cash generated from operations |
|
NA |
NA |
|
Net cash flows from (used in) operations |
|
(30.162) |
0.000 |
QUARTERLY
RESULTS
|
Particulars |
|
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
|
|
|
1st Quarter |
2nd
Quarter |
|
Net Sales |
|
610.100 |
645.310 |
|
Total Expenditure |
|
457.030 |
514.940 |
|
PBIDT (Excl OI) |
|
153.070 |
130.370 |
|
Other Income |
|
12.990 |
13.520 |
|
Operating Profit |
|
166.060 |
143.890 |
|
Interest |
|
25.340 |
24.220 |
|
Exceptional Items |
|
NA |
NA |
|
PBDT |
|
140.720 |
119.660 |
|
Depreciation |
|
24.150 |
60.910 |
|
Profit Before Tax |
|
116.570 |
58.750 |
|
Tax |
|
46.210 |
(27.880) |
|
Provisions and contingencies |
|
NA |
NA |
|
Profit After Tax |
|
70.350 |
86.640 |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
70.350 |
86.640 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
64.06 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
|
5.70 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
70.79 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
0.45 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
0.10 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
0.71 |
0.88 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
1.59 |
7.01 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
0.87 |
0.01 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
1.94 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
1.60 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
|
(0.31) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
(0.28) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
(0.83) |
0.00 |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
1.22 |
100.00 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
0.71 |
100.00 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
0.33 |
0.12 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
2395.19 |
7.01 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
1.22 |
100.00 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 186.55/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
0.500 |
0.500 |
|
Reserves & Surplus |
0.000 |
549.117 |
|
Money received against share
warrants |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
205.780 |
|
Net
worth |
0.500 |
755.397 |
|
|
|
|
|
long-term borrowings |
3.504 |
846.576 |
|
Short term borrowings |
0.000 |
231.850 |
|
Current maturities of
long-term debts |
0.000 |
119.168 |
|
Total
borrowings |
3.504 |
1197.594 |
|
Debt/Equity
ratio |
7.008 |
1.585 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
Yes |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
Yes |
|
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 about one year
20 days |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last about one year 20
days |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
No |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
|
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from B-207, Citi Point, Andheri Kurla Road, Andheri (East), Mumbai – 400053, Maharashtra, India to the present address w.e.f. 09.06.2017
STATE OF COMPANY’S
AFFAIRS
The Company is engaged in the business of manufacturing, producing, processing, preparing, treating chemicals, pharmaceuticals, drugs, etc.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Other loans and advances |
530.222 |
3.504 |
|
Total |
530.222 |
3.504 |
INDEX
OF CHARGES: NO CHARGES EXISTS FOR COMPANY
STATEMENT
OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER/ HALF YEAR ENDED
30.09.2017
(INR In Million)
|
PARTICULARS |
Standalone |
||
|
Quarter Ended |
Quarter Ended |
||
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
Income From
Operations |
|
|
|
|
a. Revenue from operations |
645.307 |
610.102 |
1255.409 |
|
b. Other Income |
13.521 |
12.987 |
26.508 |
|
Total Income from
Operations (Net) |
658.828 |
623.089 |
1281.917 |
|
|
|
|
|
|
Expenditure |
|
|
|
|
Cost of material Consumed |
520.943 |
315.574 |
836.517 |
|
Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
(93.845) |
53.534 |
(40.311) |
|
Excise Duty expenses |
0.000 |
23.129 |
23.129 |
|
Employees Benefit Expenses |
25.682 |
23.748 |
49.429 |
|
Finance Cost |
24.219 |
25.338 |
49.557 |
|
Depreciation and Amortization Expenses |
60.911 |
24.152 |
85.063 |
|
Other expenses |
62.165 |
41.044 |
103.210 |
|
Total Expenses |
600.075 |
506.519 |
1106.594 |
|
|
|
|
|
|
Profit / (Loss)
before tax |
58.754 |
116.570 |
175.324 |
|
Tax Expense |
|
|
|
|
- Current Tax |
11.958 |
24.232 |
36.190 |
|
- Deferred Tax |
(39.841) |
21.812 |
(18.030) |
|
- Short income provision for earlier years |
0.000 |
0.173 |
0.173 |
|
- Total |
(27.883) |
46.217 |
18.333 |
|
|
|
|
|
|
Net Profit After
Tax |
86.637 |
70.353 |
156.991 |
|
|
|
|
|
|
Other comprehensive income |
|
|
|
|
Items that will not be reclassified to profit or loss |
|
|
|
|
Remeasurment of defined benefit plans |
(0.036) |
(0.075) |
(0.111) |
|
|
|
|
|
|
Total Other comprehensive income, net of income tax |
86.601 |
70.279 |
156.880 |
|
|
|
|
|
|
Paid- up
Equity Share Capital (share – INR 10) |
228.644 |
228.644 |
228.644 |
|
Other Equity (as per balance sheet of the previous
accounting year) |
948.535 |
589.092 |
948.535 |
|
Earnings Per Share (of INR 1 each) (not annualized) |
|
|
|
|
Basic |
3.79 |
3.08 |
6.87 |
|
Diluted |
3.79 |
3.08 |
6.87 |
1. The Standalone Unaudited Financial Results for the second
quarter and half year ended 30th September, 2017, were reviewed by the audit
committee and approved by the board of directors in their respective meetings
held on 11th December, 2017. The Statutory Auditors of the company have
reviewed the said Results.
As prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules. 2015 and Companies (Indian Accounting Standards) Amendment Rules. 2016. These restated results have not been subjected to Limited Review, however, the Management has exercised due diligence to ensure that the Financial Results present a true and fair view of its affairs.
2. The above Financial Results which are published in accordance with
Regulation 33 of the Securities and Exchange Board of India (Listing
Obligations & Disclosure Requirements) Regulations, 2015 have been reviewed
and recommended by Audit Committee and has been approved by the Board of
Directors at its Meeting held on December 11th, 2017.
3. During the period company has issued 2236445 No. of Equity share to Omkar
Speciality Chemicals Limited at the rate of Rs.132.00/- including securities
premium of INR122.00/-. But due to clerical error at the timing of filing form
PAS-3 did not show the share premium figures in the form and filed it wrongly.
Now the management is under process of rectification and filed a application
for rectification of the same.
4. The Statutory Auditors of the Company have carried out a "Limited
Review" of the above Financial Results for the Quarter and Half Year ended
September 30th, 2017.
5. The Company has only one reportable segment i.e. API
6. The format of unaudited quarterly and half yearly results as prescribed in
SEBI's circular dated 30th November, 2015 has been modified to comply with
requirements of SEBI's circular dated July 05, 2016 and SEBI clarification to
disclose 'Income from Operations' inclusive of excise duty Ind AS and Schedule
III to the Companies Act. 2013 applicable to companies that are required to
comply with Ind AS.
7. Since the Financials results for the second quarter and half year ended
September 30, 2017 are the first Financials results to be filed and published
by the Company in compliance with the requirements of Regulations 33 of the
SEBI(Listing Obligation and Disclousre Requirement), Regulations, 2015 the
corresponding figures for the second quarter and Half year ended September 30,
2017 are not applicable as a Speciality Chemical Business were part of
Transferor Company and hence not provided.
8. There is a possibility that these financials results along with the
provisional financial statement as of and for the year ended March 31, 2017 may
require adjustment before constituting the final Ind AS financial statements as
of and for the year 31 March, 2017 due to changes in financial reporting
requirments arising from new or revised standards or interpretation issued by
MCA or changes in the use of one or more optional exemptions from full retrospective
application as permitted under Ind AS 101- First Time Adoption of Indian
Accounting Standards
9. Figures of previous period have been re-grouped / reclassified wherever
necessary, to confirm to this period's classification.
STATEMENT
OF ASSETS AND LIABILITIES AS AT 30.09.2017
(INR
in Million)
|
SOURCES
OF FUNDS |
|
|
30.09.2017 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
228.644 |
|
(b) Reserves & Surplus |
|
|
948.535 |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
1177.179 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
459.184 |
|
(b) Deferred tax liabilities
(Net) |
|
|
1.403 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
2.786 |
|
Total
Non-current Liabilities (3) |
|
|
463.373 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
221.952 |
|
(b) Trade payables |
|
|
650.712 |
|
(c) Other current liabilities |
|
|
293.047 |
|
(d) Short-term provisions |
|
|
11.025 |
|
Total
Current Liabilities (4) |
|
|
1176.736 |
|
|
|
|
|
|
TOTAL |
|
|
2817.288 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
1461.986 |
|
(ii) Intangible Assets |
|
|
21.896 |
|
(iii) Capital work-in-progress |
|
|
169.998 |
|
(iv) Intangible assets under
development |
|
|
2.385 |
|
(b) Non-current Investments |
|
|
0.010 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
7.085 |
|
(e) Other Non-current assets |
|
|
0.000 |
|
Total
Non-Current Assets |
|
|
1663.360 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
385.125 |
|
(c) Trade receivables |
|
|
654.616 |
|
(d) Cash and cash equivalents |
|
|
20.073 |
|
(e) Short-term loans and
advances |
|
|
0.060 |
|
(f) Other current assets |
|
|
94.054 |
|
Total
Current Assets |
|
|
1153.928 |
|
|
|
|
|
|
TOTAL |
|
|
2817.288 |
FIXED ASSETS
- Land
- Buildings
- Furniture and
Fixture
- Plant and equipment
- Factory equipments
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 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 63.83 |
|
UK Pound |
1 |
INR 86.28 |
|
Euro |
1 |
INR 76.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.
·