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MIRA INFORM REPORT
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Report No. : |
487617 |
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Report Date : |
25.01.2018 |
IDENTIFICATION DETAILS
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Name : |
VIVIMED LABS LIMITED |
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Registered
Office : |
Plot No. 78-A, Kolhar Industrial Area, Bidar – 585403, Karnataka |
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Tel. No.: |
91-08482-232045 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
22.09.1988 |
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Com. Reg. No.: |
08-009465 |
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Capital
Investment / Paid-up Capital : |
INR 162.040 Million |
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CIN No.: [Company Identification
No.] |
L02411KA1988PLC009465 |
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IEC No.: |
Not Available |
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GSTIN : |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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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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Line of Business
: |
Subject is engaged in the manufacture
of various Specialty Chemicals, Dyes and API intermediates under its Chemical
Products. (Registered Activity) |
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No. of Employees
: |
697 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 15680000 |
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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 was incorporated in the year 1988. It is engaged in manufacturing of pharmaceutical (active ingredients, formulations etc.) and personal care. For the financial record of 2017, the company has achieved 78.41% growth in its revenue as compared to previous year revenue and has maintained healthy profitability margin of 23.28% during the year under review. The sound financial profile of the company marked by strong networth base along negligible debt level. The company has its share price trading at around INR 94.95 against the face value (FV) of INR 02 on BSE as on 20th January, 2018. Rating also derives strength from company’s established track record of business. However, rating strengths are partially offset by elongated working capital cycle resulting in high reliance on working capital borrowings, exposure to regulatory and foreign exchange fluctuation risk and intense competition in the industry. Business is active. Payments are reported to be regular. In view of aforesaid, the company can be considered good 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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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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 |
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Rating |
Long Term Bank Facilities = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
05.01.2018 |
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Rating Agency Name |
CARE |
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Rating |
Short Term Bank Facilities = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
05.01.2018 |
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 25.01.2018
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 : |
Plot No.78 – A, Kolhar Industrial Area, Bidar – 585 403, |
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Tel. No.: |
91-8482-232045 |
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Mobile No.: |
91- |
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Fax No.: |
91-8482-232045 |
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E-Mail : |
chanakya@vivimedlabs.com |
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Website : |
www.vividmedlabs.com |
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Corporate Office : |
North End, Road No.2, Banjara Hills, Hyderabad – 500034,
Telangana, Inida |
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Tel. No.: |
91-40-6608 6608 |
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Fax No.: |
91-40-6608 6699 |
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Overseas Office
: |
Located At:
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DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Santosh Varalwar |
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Designation : |
Managing Director |
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Address : |
12-13-700/3/3 Nagarjuna Nagar, Tarnaka Hyderabad – 500017,
Telangana, India |
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Date of Birth/Age : |
55 Years |
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Qualification : |
Management Graduate |
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Experience : |
31 Years |
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Date of Appointment : |
09.11.1989 |
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DIN No : |
00054763 |
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Name : |
Mr. Subhash Varalwar |
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Designation : |
Whole-time Director |
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Address : |
4-7-67/3, Krishna Kutter Nagendra Nagar Colony, Habsiguda Hyderabad - 500007, Telangana, India |
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Date of Birth/Age : |
69 Years |
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Qualification : |
Post Graduate in Chemical Engineering and a Management Graduate |
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Experience : |
43 Years |
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Date of Appointment : |
14.08.2015 |
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DIN No : |
00054789 |
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Name : |
Dr. V. Manohar Roa |
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Designation : |
Whole Time Director |
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Address : |
2-2-1105/26/3 Tilak Nagar Colony, New Nallgunta, Hyderabad
- 500044, Telangana, India |
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Date of Birth/Age : |
80 Years |
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Qualification : |
Post Graduate in Veterinary Sciences |
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Experience : |
56 Years |
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Date of Appointment : |
14.08.2015 |
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DIN No : |
00059815 |
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Name : |
Mr. Sandeep Varalwar |
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Designation : |
Whole-time Director |
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Address : |
2-2-1105/26/3 Tilak Nagar Colony, New Nallgunta, Hyderabad
- 500044, Telangana, India |
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Date of Birth/Age : |
48 Years |
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Qualification : |
Graduation in B. Pharmacy |
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Experience : |
25 years |
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Date of Appointment : |
27.09.2008 |
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DIN No : |
01682951 |
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Name : |
Mr. S Raghunandan |
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Designation : |
Whole-time Director |
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Address : |
Ft.303, Padmaja Nivas, St.1 Chaitanyapuri, Dilsukhnagar
Hyderabad – 500060, Telangana, India |
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Date of Birth/Age : |
56 Years |
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Qualification : |
Science Post Graduate |
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Date of Appointment : |
27.09.2008 |
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DIN No : |
02029812 |
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Name : |
Dr. M Bhagavantha Rao |
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Designation : |
Director |
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Address : |
H.No.1-9-295/32/5/C Vidyanagar, Hyderabad - 500044,
Telangana, India |
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Date of Birth/Age : |
Year |
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Qualification : |
PHD in Chemical Engineering |
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Date of Appointment : |
15.12.2003 |
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DIN No : |
00117862 |
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|
|
|
Name : |
Mr. Nixon Patel |
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Designation : |
Director |
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Address : |
1,Q2-A1, Cyber Towers Madhapur, Hyderabad - 500033, Telangana, India |
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Date of Appointment : |
28.06.2010 |
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DIN No : |
01717281 |
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Name : |
Dr. Venkateswarulu Peesapati |
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Designation : |
Director |
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Address : |
12-13-673/1, Nagarjuna Nagar, St-20, Tarnaka Hyderabad - 500017, Telangana, India |
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Date of Appointment : |
22.05.2013 |
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DIN No : |
02033441 |
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Name : |
Mr. Venkata Ratnam Paluri |
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Designation : |
Director |
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Address : |
Elmote Estate, Ida Nacharam, Hyderabad - 500076, Telangana, India |
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Date of Appointment : |
23.01.2008 |
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DIN No : |
02033493 |
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|
Name : |
Mr. Umanath Varahabhotla |
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Designation : |
Director |
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Address : |
F-101, Sri Venkatarama Apartments Thakur Mansion Lane, Somajiguda, Hyderabad- 500004, Telangana, India |
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Date of Appointment : |
21.03.2015 |
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DIN No : |
06539204 |
KEY EXECUTIVES
|
Name : |
Mr. Ramesh Challa |
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Designation : |
Chief Financial Officer |
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Address : |
Flat 405 Kancharla Towers, Golconda X Road, Hyderabad -
500020, Telangana, India |
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Date of Appointment : |
23.04.2016 |
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PAN : |
ABFPC6330F |
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|
Name : |
Mr. Yugandhar Kopparthi |
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Designation : |
Company Secretary and Compliance Officer |
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Address : |
#1259, Lakshmi Towers, Road No.36, Jubilee Hills,
Hyderabad - 500033, Telangana, India |
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Date of Appointment : |
30.10.2012 |
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PAN : |
AQWPK9257D |
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Name : |
Mr. Pavan Kumar M |
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Designation : |
Chief Executive Officer |
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Audit Committee : |
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Management Committee: |
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Risk Management
Committee : |
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Corporate Social Responsibility
Committee : |
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Nomination and
Remuneration Committee : |
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Stake Holders
Relationship, Grievance and Share Transfer Committee : |
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MAJOR SHAREHOLDERS
As on 31.12.2017
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
Promoter & Promoter Group |
29554210 |
35.81 |
|
|
Public |
52969705 |
64.19 |
|
|
Grand Total |
82523915 |
100.00 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND
PROMOTER GROUP
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu Undivided Family |
17072045 |
20.69 |
|
|
Mamatha Gurnukar |
150000 |
0.18 |
|
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Varalwar Padma |
33250 |
0.04 |
|
|
Neelima Vijaya Varalwar |
100000 |
0.12 |
|
|
Madhavi Varalwar |
200000 |
0.24 |
|
|
Santosh Varalwar |
6099050 |
7.39 |
|
|
Manohar Rao Varalwar |
1794225 |
2.17 |
|
|
Chandrashekharrao Sudigali |
50095 |
0.06 |
|
|
Satish Gooty Agraharam |
55635 |
0.07 |
|
|
Vijaykumar Varalwar |
150000 |
0.18 |
|
|
Varalwar Sandeep |
3069765 |
3.72 |
|
|
Varalwar Subhash |
1616200 |
1.96 |
|
|
Sujatha Varalwar |
1893995 |
2.30 |
|
|
Sheetal Varalwar |
568985 |
0.69 |
|
|
Vithabai Varalwar |
973345 |
1.18 |
|
|
S Raghunandan |
317500 |
0.38 |
|
|
Any Other (Specify) |
12482165 |
15.13 |
|
|
Bbr Projects Private Limited |
12482165 |
15.13 |
|
|
Sub Total A1 |
29554210 |
35.81 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
29554210 |
35.81 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC
SHAREHOLDER
|
Category & Name
of the Shareholders |
Total no. shares
held |
Shareholding %
calculated as per SCRR, 1957 As a % of |
|
|
B1) Institutions |
0.00 |
||
|
Foreign Portfolio Investors |
7940113 |
9.62 |
|
|
Kitara Piin 1101 |
1219300 |
1.48 |
|
|
Financial Institutions/ Banks |
330381 |
0.40 |
|
|
Sub Total B1 |
8270494 |
10.02 |
|
|
B2) Central Government/ State Government(S)/ President Of India |
0.00 |
||
|
Central Government/ State Government(S)/ President Of India |
96130 |
0.12 |
|
|
Sub Total B2 |
96130 |
0.12 |
|
|
B3) Non-Institutions |
0.00 |
||
|
Individual Share Capital Upto INR 0.200 Million |
17877355 |
21.66 |
|
|
Individual Share Capital In Excess Of INR 0.200 Million |
4477194 |
5.43 |
|
|
Jignesh Jaswantrai Mehta |
1160655 |
1.41 |
|
|
Nisha Jignesh Mehta |
1300000 |
1.58 |
|
|
Nbfcs Registered With RBI |
113500 |
0.14 |
|
|
Any Other (Specify) |
22135032 |
26.82 |
|
|
Nri – Non- Repat |
188026 |
0.23 |
|
|
Nri – Repat |
3096098 |
3.75 |
|
|
Sameer Mahendra Sampat |
1359165 |
1.65 |
|
|
Bodies Corporate |
6678707 |
8.09 |
|
|
India Infoline Limited |
6178707 |
7.49 |
|
|
Overseas Corporate Bodies |
9150685 |
11.09 |
|
|
Kitara Piin 1102 |
9150685 |
11.09 |
|
|
Clearing Members |
1651376 |
2.00 |
|
|
Foreign Individuals |
1369840 |
1.66 |
|
|
William Harvey |
1369840 |
1.66 |
|
|
Trusts |
300 |
0.00 |
|
|
Sub Total B3 |
44603081 |
54.05 |
|
|
B=B1+B2+B3 |
52969705 |
64.19 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the
manufacture of various Specialty Chemicals, Dyes and API intermediates under
its Chemical 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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (31.03.2017)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Speciality Chemicals |
MT |
5347 |
5347 |
|
Capsules |
Million |
775 |
775 |
|
Tablets |
Million |
2080 |
2080 |
|
Lotions |
KL |
8305 |
8305 |
|
Ointments |
MT |
1335 |
1335 |
|
Small Volume Parenterals |
KL |
592 |
592 |
|
Liquids |
KL |
3500 |
3500 |
|
Sachets |
MT |
63 |
63 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
697 (Approximately) |
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Bankers : |
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Facilities : |
Note: Term Loans secured and considered good from State
Bank of Hyderabad, State Bank of India, Axis Bank, Exim Bank & International
Finance Corporation are secured by first pari passu charge on all the present
and future fixed assets both movable and immovable properties of the company |
|
Financial Institutions
: |
|
|
|
|
|
Statutory Auditors : |
|
|
Name : |
P. Murali and Company Chartered Accountants |
|
Address : |
6-3-655/2/3, Somajiguda, Hyderabad – 500082, Telangana,
India |
|
|
|
|
Secretarial
Auditors : |
|
|
Name : |
N.V.S.S. Suryanarayana Rao Practicing Company Secretary |
|
Address : |
Plot No 232B, Road No. 6, Samathapuri Colony, New Nagole, Hyderabad-
500035, Telangana, India |
|
|
|
|
Cost Auditors : |
|
|
Name : |
A.S. Rao and Company Cost Accountants |
|
Address : |
No.6-2-981, Flat No. 501, 5th Floor, Maruthi Plaza, Khairatabad, Hyderabad-50004, Telangana, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
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Subsidiaries : |
|
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|
|
|
Associates : |
|
CAPITAL STRUCTURE
After as on
29.09.2017
Authorised Capital : INR
1110.000 Million
Issued, Subscribed & Paid-up Capital : INR 165.048 Million
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
INR 2/- each |
INR 400.000 Million |
|
710000 |
Preferences Shares |
INR 1000/- each |
INR 710.000 Million |
|
|
Total |
|
INR 1110.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
81018915 |
Equity Shares |
INR 2/- each |
INR 162.040
Million |
|
|
|
|
|
A Reconciliation of the
number of shares outstanding at the beginning and at the end of the reporting
period:
|
Particulars |
No of Share |
Value of Share |
INR In million |
|
Equity Shares INR 2/-Each, Fully paid up |
|
|
|
|
At the Beginning |
81018915 |
INR 2/- each |
162.038 |
|
|
|
|
|
Details of
Shareholder holding more than 5% shares of the company:
|
Particulars |
No of Share |
% of Share |
|
Equity Shares of INR 10 each Held By |
|
|
|
BBR Projects Private Limited |
12482165 |
15.04% |
|
KITARA PIIN 1102 |
9150685 |
11.29% |
|
Santosh Varalwar |
6099050 |
7.53% |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
162.040 |
162.040 |
162.040 |
|
(b) Reserves & Surplus |
5329.120 |
3534.370 |
3577.460 |
|
(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 |
5491.160 |
3696.410 |
3739.500 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1883.100 |
1930.320 |
3078.070 |
|
(b) Deferred tax liabilities (Net) |
323.700 |
325.370 |
315.480 |
|
(c) Other long term
liabilities |
902.410 |
3210.400 |
1228.270 |
|
(d) long-term
provisions |
35.580 |
33.820 |
30.100 |
|
Total Non-current
Liabilities |
3144.790 |
5499.910 |
4651.920 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3006.460 |
2919.060 |
2911.890 |
|
(b) Trade
payables |
405.020 |
244.500 |
456.090 |
|
(c) Other
current liabilities |
853.140 |
1140.820 |
1016.630 |
|
(d) Short-term
provisions |
742.350 |
153.140 |
251.540 |
|
Total Current
Liabilities |
5006.970 |
4457.520 |
4636.150 |
|
|
|
|
|
|
TOTAL |
13642.920 |
13653.840 |
13027.570 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3821.220 |
3762.350 |
3646.610 |
|
(ii)
Intangible Assets |
508.070 |
107.030 |
118.920 |
|
(iii)
Capital work-in-progress |
586.410 |
408.290 |
632.720 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
832.660 |
2300.450 |
2300.460 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
2.290 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
5750.650 |
6578.120 |
6698.710 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2856.610 |
2681.710 |
2224.990 |
|
(c) Trade
receivables |
2268.560 |
2308.600 |
2280.750 |
|
(d) Cash
and cash equivalents |
155.550 |
71.760 |
139.940 |
|
(e)
Short-term loans and advances |
2552.240 |
1954.350 |
1623.870 |
|
(f) Other
current assets |
59.310 |
59.300 |
59.310 |
|
Total
Current Assets |
7892.270 |
7075.720 |
6328.860 |
|
|
|
|
|
|
TOTAL |
13642.920 |
13653.840 |
13027.570 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
5698.380 |
3193.940 |
4301.480 |
|
|
Other Income |
23.410 |
9.830 |
14.340 |
|
|
TOTAL
|
5721.790 |
3203.770 |
4315.820 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1821.920 |
1246.770 |
2511.030 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(22.610) |
68.680 |
(531.950) |
|
|
Employees benefits expense |
415.990 |
239.930 |
278.840 |
|
|
Other expenses |
435.230 |
378.380 |
512.530 |
|
|
Administrative Expenses |
453.020 |
408.100 |
473.870 |
|
|
TOTAL |
3103.550 |
2341.860 |
3244.320 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
2618.240 |
861.910 |
1071.500 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
535.500 |
560.590 |
623.350 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2082.740 |
301.320 |
448.150 |
|
|
|
|
|
|
|
Less/ |
DEPRECIATION/
AMORTISATION |
268.320 |
187.920 |
205.600 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1814.420 |
113.400 |
242.550 |
|
|
|
|
|
|
|
Less |
TAX |
487.630 |
32.130 |
53.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
1326.790 |
81.270 |
189.350 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
|
|
|
Basic |
16.38 |
5.02 |
11.69 |
|
|
Diluted |
15.89 |
4.87 |
11.34 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
853.140 |
1140.830 |
1016.630 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operating activity |
2424.48 |
(542.140) |
412.900 |
QUARTERLY
RESULTS
|
Particulars |
|
Quarter Ended
30.06.2017 (Unaudited) |
Quarter Ended 30.09.2017
(Unaudited) |
|
|
|
|
|
|
Net Sales |
|
711.330 |
611.470 |
|
Total Expenditure |
|
528.230 |
411.170 |
|
PBIDT (Excl OI) |
|
183.100 |
200.300 |
|
Other Income |
|
3.510 |
0.020 |
|
Operating Profit |
|
186.610 |
200.320 |
|
Interest |
|
121.500 |
129.760 |
|
Exceptional Items |
|
NA |
NA |
|
PBDT |
|
65.110 |
70.560 |
|
Depreciation |
|
44.710 |
49.360 |
|
Profit Before Tax |
|
20.400 |
21.200 |
|
Tax |
|
4.080 |
4.250 |
|
Provisions and
contingencies |
|
NA |
NA |
|
Profit After Tax |
|
16.320 |
16.950 |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
16.320 |
16.950 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
145.31 |
263.82 |
193.53 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.51 |
1.38 |
1.89 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
81.14 |
71.58 |
66.30 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.92 |
0.32 |
0.48 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.53 |
0.20 |
0.24 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.57 |
0.55 |
0.67 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.05 |
1.62 |
1.87 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.91 |
1.21 |
1.24 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.90 |
1.16 |
1.18 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.89 |
1.54 |
1.72 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
23.28 |
2.54 |
4.40 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
9.73 |
0.60 |
1.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
24.16 |
2.20 |
5.06 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.58 |
1.59 |
1.37 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.01 |
0.99 |
0.89 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.40 |
0.27 |
0.29 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
35.44 |
36.97 |
43.24 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.58 |
1.59 |
1.37 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 02.00/- |
|
Market Value |
INR 94.95/- |
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 |
162.040 |
162.040 |
162.040 |
|
Reserves & Surplus |
3577.460 |
3534.370 |
5329.120 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3739.500 |
3696.410 |
5491.160 |
|
|
|
|
|
|
long-term borrowings |
3078.070 |
1930.320 |
1883.100 |
|
Short term borrowings |
2911.890 |
2919.060 |
3006.460 |
|
Current maturities of
long-term debts |
1016.630 |
1140.830 |
853.140 |
|
Total
borrowings |
7006.590 |
5990.210 |
5742.700 |
|
Debt/Equity
ratio |
1.874 |
1.621 |
1.046 |
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 |
4301.480 |
3193.940 |
5698.380 |
|
|
|
(25.748) |
78.412 |
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 |
4301.480 |
3193.940 |
5698.380 |
|
Profit |
189.350 |
81.270 |
1326.790 |
|
|
4.40% |
2.54% |
23.28% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
162.040 |
801.500 |
|
(b) Reserves & Surplus |
|
0.000 |
0.000 |
|
(c) Money received against
share warrants |
|
7076.930 |
5050.030 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds |
|
7238.970 |
5851.530 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
4526.960 |
2572.690 |
|
(b) Deferred tax liabilities
(Net) |
|
96.350 |
106.990 |
|
(c) Other long term
liabilities |
|
598.070 |
2895.650 |
|
(d) long-term provisions |
|
36.280 |
35.730 |
|
Total
Non-current Liabilities |
|
5257.660 |
5611.060 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
3764.070 |
4077.600 |
|
(b) Trade payables |
|
1524.100 |
1667.400 |
|
(c) Other current liabilities |
|
1862.500 |
2858.540 |
|
(d) Short-term provisions |
|
1007.920 |
370.550 |
|
Total
Current Liabilities |
|
8158.590 |
8974.090 |
|
|
|
|
|
|
TOTAL |
|
20655.220 |
20436.680 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
6528.760 |
7149.090 |
|
(ii) Intangible Assets |
|
2265.290 |
992.590 |
|
(iii) Capital work-in-progress |
|
761.260 |
941.690 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
25.200 |
26.890 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
2.320 |
0.440 |
|
Total
Non-Current Assets |
|
9582.830 |
9110.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
4839.680 |
4907.970 |
|
(c) Trade receivables |
|
2021.430 |
3262.410 |
|
(d) Cash and cash equivalents |
|
554.730 |
309.580 |
|
(e) Short-term loans and
advances |
|
3565.310 |
2728.770 |
|
(f) Other current assets |
|
91.240 |
117.250 |
|
Total
Current Assets |
|
11072.390 |
11325.980 |
|
|
|
|
|
|
TOTAL |
|
20655.220 |
20436.680 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
14619.110 |
13456.300 |
|
|
Other Income |
|
80.500 |
108.100 |
|
|
TOTAL
|
|
14699.610 |
13564.400 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
5658.310 |
6096.920 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
|
(295.460) |
143.560 |
|
|
Employees benefits expense |
|
1893.440 |
1769.430 |
|
|
Other expenses |
|
2072.250 |
2055.660 |
|
|
Administrative Expenses |
|
1173.470 |
1069.920 |
|
|
TOTAL |
|
10502.010 |
11135.490 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
4197.600 |
2428.910 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
655.180 |
815.660 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
3542.420 |
1613.250 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
582.770 |
613.930 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
2959.650 |
999.320 |
|
|
|
|
|
|
|
Less |
TAX |
|
742.210 |
162.590 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
2217.440 |
836.730 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
|
|
|
Basic |
|
27.37 |
51.64 |
|
|
Diluted |
|
26.55 |
50.09 |
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 |
No |
|
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 |
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 |
Yes |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
No |
|
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 |
No |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
OVERVIEW OF COMPANY’S FINANCIAL PERFORMANCE
On a consolidated basis, the Company reported net revenue of INR 14699.620 million as against INR 13564.400 million. EBITDA for FY2017 was INR 4197.540 million compared to INR 2428.920 million in the previous year. Net profit after minority interest for the group for the current year is INR 2217.370 million as against INR 836.730 million in the previous year.
Net revenue from operations on standalone basis increased to INR 5721.790 million as against INR 3203.770 million in the previous year. FY2017 EBITDA was INR 2618.250 million compared to INR861.82 million in the previous year. The Profit after Tax for the current year is INR 1326.800 million.
There are no material changes and commitments affecting the
financial position of the Company which have occurred between the end of the
financial year FY2017 and the date of this report.
MANAGEMENT DISCUSSION
AND ANALYSIS
Global economy
The global economy seems to be stabilizing after a sustained period of volatility. Global economic activity improved in the second half of CY2016, especially in advanced economies. Growth picked up in the US as firms grew more confident about future demand. The economy also recorded a lower rate of unemployment and buoyant consumer demand. In the aftermath of the Brexit vote, the Euro area growth was also resilient on the back of strong domestic demand and continued easing; the growth in the United Kingdom remained robust on the back of resilient spending. Japan’s performance has also been on the upside with strong exports.
However, the global economic growth, at 3.1% on a y-o-y basis, fell short of expectations in CY2016 as deceleration in key emerging markets and developing economies (EMDEs) overshadowed the modest recovery in major developed countries. The EMDEs contribute to more than half of the global economic growth rate. Their deceleration was accompanied by a modest increase in commodity prices, subdued global trade, financial market volatility and weakening capital flows. Although China’s growth turned out to be better than expected on the back of policy stimulus, it was lower than CY2015. India fared better than the world in terms of growth, even though the demonetization exercise temporarily threw a challenge. Brazil, on the other hand, remained mired in a deep recession. Activity remained weak in fuel and non-fuel commodity exporters more generally, while geopolitical factors held back growth in parts of the Middle East and Turkey.
Outlook
According to the International Monetary Fund (IMF), the global economic activity is picking up with a long awaited cyclical recovery in investment, manufacturing, and trade. It has projected economic activities to improve in both advanced economies as well as EMDEs in CY2017 and CY2018, with global growth projections at 3.5% and 3.6%, respectively.
The Indian economy
Favorable government reforms and a stringent fiscal regime in the recent past have supported the accelerated growth of the Indian economy since 2014. The Economic Survey 2017 describes India’s stand in the world as ‘haven of stability’ and positions it as ‘an outpost of opportunity’.
And despite the short-term disruptive policy initiatives and geo-political issues in large global economies (important business partners of India), India’s GDP grew by 7.1% demonstrating the fact that India’s economic fundamentals continue to be strong.
While emerging urban clusters are driving this growth, rural India is seeing a recovery after around 3-4 years. Such a scenario is likely to generate momentum for India Inc. The country’s economic prospects appear optimistic with policymakers creating enablers for strong and sustainable growth for the medium to long-term.
Outlook
The growth momentum should rise, driven by the Government’s policy initiatives in areas such as taxation (GST), foreign direct investment (FDI), and the ease of doing business, among others. Other major factors helping India stay as a bright spot in the global economic landscape include the lower global oil price, with positive impact on the country’s import bill, a well-regulated monetary policy by the Reserve Bank to stabilize prices, and improving fiscal condition. The Government’s endeavour to drive a bigger as well as a cleaner GDP is expected to augur well for the economy in the medium and long terms.
Global pharmaceutical
sector
The life sciences sector’s growth correlates highly with countries’ general economic strength and health care spending levels, and both of these vary widely around the globe. And while spending growth is expected to pick up, the pressure to reduce costs, increase efficiency, and prove value remains intense. Because of these contradictory trends, global health care spending is expected to increase by a low single digit.
Pricing pressures in the United States and unstable economic conditions in Brazil, Russia, and China, (which collectively drive 50% of global pharma revenue) have led to a slowdown in the pharma segment. Demand for generic drugs should continue to rise as payers pursue avenues to reduce costs. Already, generics account for the majority of prescription drugs supplied in China and around two-thirds of total sales value. In the United States, generic drugs already comprise about 70% of the pharma market by volume. Pharma companies are adapting to current market dynamics and positioning themselves for growth through portfolio transformation, targeted deal-making, cost-cutting measures, and sharpened focus on high-performing therapeutic area and geographic markets.
Outlook through 2021
The total volume of medicines consumed globally will increase by about 3% annually through 2021, only modestly faster than population and demographic shifts, but driven by very different factors around the world.
Global medicine spending will reach nearly US$1.5 trillion by 2021 on an invoice price basis, up nearly US$370 billion from the 2016 estimated spending level. Importantly for the outlook is that spending growth is slowing in 2016, declining from nearly 9% growth in 2014 and 2015 to just 4–7% CAGR over the next five years Most global spending growth, particularly in developed markets, will be driven by oncology, autoimmune and diabetes treatments where significant innovations are expected. The next five years will see the market growing at a more consistent rate but with much more attention focused on spending, growth and specifically pricing.
BUSINESS PERFORMANCE
AND PROSPECTS
Vivimed Labs is a Hyderabad based manufacturer focused on
pharmaceutical and specialty chemical sector. The Company has 11 manufacturing
plants (eight domestic and three overseas) across three continents. The
pharmaceuticals vertical is engaged in the API-CDMO operations, APIs and
formulations for leading generics manufacturing companies. The specialty
chemicals segment produces active ingredients for a range of home, personal care
and industrial products.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
FCCB's From Financial Institutions |
567.340 |
497.500 |
|
Other Loans |
18.260 |
0.000 |
|
Total |
585.600 |
497.500 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Amount |
Address |
|
1 |
G65465841 |
100135885 |
State Bank of India |
08/11/2017 |
- |
45000000.0 |
IDPL BRANCH, KUKATPALLYHYDERABADTG500037IN |
|
2 |
G28068427 |
100063346 |
AMBIT FINVEST PRIVATE LIMITED |
28/11/2016 |
- |
200000000.0 |
AMBIT HOUSE, 449, SENAPATI BAPAT MARG,LOWER PAREL,MUMBAIMa400013IN |
|
3 |
C52497518 |
10567195 |
CORPORATION BANK |
02/04/2015 |
- |
1600000.0 |
TaranakaSecunderabadTG500017IN |
|
4 |
C35714997 |
10534455 |
Axis Bank Limited |
29/11/2014 |
- |
671000000.0 |
6-3-879/B, 1st Floor,G. Pulla Reddy Building, Green Lands,Begumpet RoadHyderabadAP500016IN |
|
5 |
G60875986 |
10526423 |
Axis Bank Limited |
29/09/2014 |
21/10/2017 |
650000000.0 |
6-3-879/B, 1st Floor,G. Pulla Reddy Building, Green Lands,Begumpet RoadHyderabadTG500016IN |
|
6 |
C29732435 |
10525983 |
STATE BANK OF HYDERABAD |
25/09/2014 |
- |
57500000.0 |
IDPL Colony Branch,KukatpallyHyderabadTG500037IN |
|
7 |
C40323404 |
10525986 |
STATE BANK OF HYDERABAD |
25/09/2014 |
05/12/2014 |
75500000.0 |
IDPL Colony Branch,KukatpallyHyderabadTG500037IN |
|
8 |
G21973946 |
10507794 |
STATE BANK OF HYDERABAD |
01/07/2014 |
08/11/2016 |
360000000.0 |
OVERSEAS BRANCH6-3-652, "KAUTILYA", SOMAJIGUDAHYDERABADTG500082IN |
|
9 |
G21981337 |
10507896 |
STATE BANK OF HYDERABAD |
01/07/2014 |
08/11/2016 |
360000000.0 |
OVERSEAS BRANCH6-3-652, "KAUTILYA', SOMAJIGUDAHYDERABADTG500082IN |
|
10 |
B97264733 |
10479761 |
Biotechnology Industry Research Assistance Council (BIRAC) |
28/01/2014 |
- |
2500000.0 |
A-254, 3rd FloorBhisham Pitamah Marg, Defence ColonyNew DelhiDL110024IN |
STANDALONE UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED AND HALF YEAR ENDED ON 30TH
SEPTEMBER 2017
|
Particulars |
Quarter
ended |
Quarter
ended |
Six
Month ended |
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
INCOME FROM OPERATIONS |
|
|
|
|
Net Sales |
611.465 |
663.560 |
1275.025 |
|
Other Income |
0.023 |
3.507 |
3.530 |
|
Total Revenue |
611.488 |
667.067 |
1278.555 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
241.400 |
255.272 |
496.672 |
|
Purchase of Stock in Trade |
0.000 |
0.000 |
0.000 |
|
Manufacturing and Operating Cost |
0.000 |
0.000 |
0.000 |
|
Changes in inventories of finished goods and
work-in-progress |
(58.951) |
(11.908) |
(70.859) |
|
Employee benefits expense |
91.954 |
69.383 |
161.337 |
|
Finance Costs |
129.755 |
121.495 |
251.251 |
|
Depreciation and Amortization expenses |
49.362 |
44.707 |
94.069 |
|
Other Expenditure |
136.067 |
160.067 |
296.135 |
|
Other comprehensive income |
0.702 |
7.652 |
8.352 |
|
Total Expenses |
590.289 |
646.668 |
1236.957 |
|
|
|
|
|
|
Profit before exceptional items and tax |
21.199 |
20.399 |
41.598 |
|
Exceptional Items |
-- |
-- |
-- |
|
Profit before tax |
21.199 |
20.399 |
41.598 |
|
Tax Expenses |
|
|
|
|
Current Tax |
4.250 |
4.080 |
8.330 |
|
Deferred Tax |
-- |
-- |
-- |
|
Tax in respect of earlier year |
-- |
-- |
-- |
|
Profit/(Loss) for the period |
16.949 |
16.319 |
33.268 |
|
Paid-up equity share capital, Equity shares of INR 10/- each |
163.973 |
163.973 |
163.973 |
|
Earning Per Share |
|
|
|
|
Basic |
0.21 |
0.20 |
0.41 |
|
Diluted |
0.20 |
0.20 |
0.40 |
SEGMENT WISE
REVENUE, RESULTS AND SEGMENT ASSETS AND SEGMENT LIABILITIES FOR THE QUARTER ENDED AND HALF YEAR ENDED AS ON 30TH SEPTEMBER 2017.
|
Particulars |
Quarter
Ended |
Quarter
Ended |
Half
Ended |
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
1. Segment Revenue |
|
|
|
|
Specialty Chemicals Business |
167.848 |
166.095 |
333.943 |
|
Pharma Business |
443.617 |
497.465 |
941.081 |
|
Total segment revenue |
611.465 |
663.56 |
1275.024 |
|
Less: Inter – segment revenue |
-- |
-- |
-- |
|
Total income from operations (net sales) |
611.465 |
663.56 |
1275.024 |
|
|
|
|
|
|
2. Segment Results |
|
|
|
|
Profit/ (loss) before tax and
interest |
|
|
|
|
Specialty Chemicals Business |
57.018 |
16.033 |
73.051 |
|
Pharma Business |
93.936 |
125.861 |
219.797 |
|
Total segment results |
150.954 |
141.894 |
292.848 |
|
Less: Interest |
129.755 |
121.495 |
251.251 |
|
Total Profit Before Tax |
21.199 |
20.399 |
41.597 |
|
Capital Employed |
|
|
|
|
Specialty Chemicals Business |
7080.563 |
7733.089 |
7080.563 |
|
Pharma Business |
3866.671 |
3925.625 |
3866.671 |
|
Total |
10947.234 |
11658.714 |
10947.234 |
|
|
|
|
|
|
SEGMENT Asset |
|
|
|
|
Segment Assets |
12091.718 |
13752.617 |
12091.718 |
|
Segment Liabilities |
7093.227 |
8241.235 |
7093.227 |
|
Total |
19184.945 |
21993.852 |
19184.945 |
STATEMENT OF
UNAUDITED STANDALONE ASSETS AND LIABILITIES AS ON 30.09.2017
(INR in
Million)
|
SOURCES
OF FUNDS |
|
|
30.09.2017 |
|
|
|
Unaudited |
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
163.973 |
|
(b) Reserves & Surplus |
|
|
5390.531 |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(d)
Share Application Money Pending Allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds |
|
|
5554.504 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
1477.243 |
|
(b) Deferred tax liabilities
(Net) |
|
|
317.606 |
|
(c) Other long term
liabilities |
|
|
851.259 |
|
(d) long-term provisions |
|
|
31.036 |
|
Total
Non-current Liabilities |
|
|
2677.144 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
2740.803 |
|
(b) Trade payables |
|
|
252.430 |
|
(c) Other current liabilities |
|
|
865.762 |
|
(d) Short-term provisions |
|
|
627.728 |
|
Total
Current Liabilities |
|
|
4486.723 |
|
|
|
|
|
|
TOTAL |
|
|
12718.371 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
3440.740 |
|
(ii) Intangible Assets |
|
|
500.475 |
|
(iii) Capital work-in-progress |
|
|
614.350 |
|
(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
1475.408 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and
Advances |
|
|
0.000 |
|
(e) Other Non-current assets |
|
|
2.197 |
|
Total
Non-Current Assets |
|
|
6033.170 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
2894.159 |
|
(c) Trade receivables |
|
|
1702.838 |
|
(d) Cash and cash equivalents |
|
|
105.890 |
|
(e) Short-term loans and advances |
|
|
1923.000 |
|
(f) Other current assets |
|
|
59.314 |
|
Total Current Assets |
|
|
6685.201 |
|
|
|
|
|
|
TOTAL |
|
|
12718.371 |
- 1. The above Standalone Audited Financial Results for the Quarter and half year ended September 30, 2017 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meeting held on 14.11.2017. The Financial results are prepared in accordance with the Indian Accounting standards(IndAS) as prescribed under section 133 of the companies Act,2013 read with the companies (Indian Accounting Standards)Rules,2015(as amended)
2. As per Accounting Standard 17 on Segment Reporting (AS-17), results of the
two Segments "Specialty Chemicals" and "Pharma" are
reported.
3. Corresponding numbers of
previous period / year have been regrouped, wherever necessary.
4. The QOQ-H1 FY 17 is regrouped and reclassified on account of amalgamation of
subsidiaries hence not comparable to the earlier published results.
CONTINGENT LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Letter of Credit |
|
|
|
Inland LC’s |
59.840 |
37.440 |
|
Axis Bank – SBLC |
713.220 |
729.660 |
|
Bank Guarantee |
|
|
|
State Bank of Hyderabad, Balanagar Branch, Hyderabad. |
9.610 |
9.460 |
FIXED ASSETS
- Land
- Building
- Plant and
Machinery
- Electrical Equipment
- Laboratory Equipment
- Office Equipment
- Furniture and
Fixture
- Computer
- Vehicles
- Books & Periodicals
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 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 63.64 |
|
|
1 |
INR 89.32 |
|
Euro |
1 |
INR 78.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
TRUP |
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.