|
|
|
MIRA INFORM REPORT
|
Report No. : |
488519 |
|
Report Date : |
29.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
EVEREST ORGANICS LIMITED |
|
|
|
|
Registered
Office : |
Aroor Village, Sadasivapet Mandal, Medak – 502291, Telangana |
|
Tel. No.: |
91-8455-250113-115 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
19.02.1993 |
|
|
|
|
Com. Reg. No.: |
36-015426 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 79.883 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24230TG1993PLC015426 |
|
|
|
|
IEC No.: |
0991023234 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE4400F |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Active Pharmaceutical Ingredients (API)
and Intermediates. (Registered Activity) |
|
|
|
|
No. of Employees
: |
361 (Approximately) |
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 460000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 1993 and it is having satisfactory track. The company manufactures APIs and intermediates such as Omeprazole and Benzimadizol. For the financial year 2017, the company has increased its revenue from operation and maintained average profitability margin of 1.61%. Rating takes into consideration sound financial profile of the company marked by adequate networth base and low debt balance sheet. Further, rating also reflects company’s long standing experience of promoters in the pharmaceutical industry along with established relationship with customers and improvement in the revenue as well as profitability profile during the year. However, rating strength is partially offset by vulnerability of profits to fluctuations in raw material and finished goods prices owing to high competition prevailing in the Active Pharmaceutical Ingredient (API) manufacturing industry. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealings at usual trade terms and condition. |
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 |
ICRA |
|
Rating |
Long Term Rating = BB- |
|
Rating Explanation |
Moderate risk of default |
|
Date |
08.08.2017 |
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 27.01.2018
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/Factory : |
Aroor Village, Sadasivapet Mandal, Medak – 502291, Telangana, India |
|
Tel. No.: |
91-8455-250113-115 |
|
Fax No.: |
91-8455-250114 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office
: |
Plot No. 127/128, 1st Floor, Amar Cooperative, Society, Opposite Madhapur Police Station Road, Near Durgam Cheruvu, Madhapur, Hyderabad – 500033, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23115956/ 40040783/ 23115951 |
|
Fax No.: |
91-40-23115954 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sri Kakarlapudi Srihari Raju |
|
Designation : |
Managing Director |
|
Address : |
I Floor, Pt No:50, Phase-II, Near Bhagya Nagar,
Co-operative Housing Society, Kukatpally, Hyderabad – 500872, Telangana,
India |
|
Date of Birth/Age : |
08.04.1952 |
|
Date of Appointment : |
19.02.1993 |
|
DIN No.: |
01593620 |
|
|
|
|
Name : |
Akella Parvathisem |
|
Designation : |
Director |
|
Address : |
Flat No.105, Shashank Apartments, Srinivasa Nagar, Dr.
A.S.Rao Nagar, Hyderabad – 500872, Telangana, India |
|
Date of Appointment : |
28.08.2004 |
|
DIN No.: |
00910224 |
|
|
|
|
Name : |
Srikakarlapudi Hari Krishna |
|
Designation : |
Wholetime Director |
|
Address : |
Plot # 50, Bhagya Nagar Colony, Kukatpally, Hyderabad
500072, Telangana, India |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
01664260 |
|
|
|
|
Name : |
Ramakrishnam Raju Kounparaju |
|
Designation : |
Director |
|
Address : |
Plot No. 50, Phase Ii, Bhagyanagar Housing Society,
Kukatpally, Hyderabad -500072, Telangana, India |
|
Date of Appointment : |
28.09.2015 |
|
DIN No.: |
01735481 |
|
|
|
|
Name : |
Reddy Eashwer Kanthala |
|
Designation : |
Director |
|
Address : |
11618, Pennsylvaniaave, Kansas City Mo, Kansas 64114 Us |
|
Date of Appointment : |
31.08.2015 |
|
DIN No.: |
02327979 |
|
|
|
|
Name : |
Swaminathan Venkatesan |
|
Designation : |
Director |
|
Address : |
45 Road No.76 Jubilee Hills Block-3 Hyderabad 500033 Ap In |
|
Date of Appointment : |
28/09/2015 |
|
DIN No.: |
02810646 |
|
|
|
|
Name : |
Kakarlapudi Sitarama Raju |
|
Designation : |
Director |
|
Address : |
15007 W 93 Street Lenexa, Ks 66215 Lenexa 66215 Us |
|
Date of Appointment : |
19.04.1995 |
|
DIN No.: |
02955723 |
|
|
|
|
Name : |
Srikakarlapudi Sirisha |
|
Designation : |
Director |
|
Address : |
I Floor, Pt No:50, Phase-II, Near Bhagya Nagar, Co-operative
Housing Society, Kukatpally, Hyderabad – 500872, Telangana, India |
|
Date of Appointment : |
30.07.2014 |
|
DIN No.: |
06921012 |
|
|
|
|
Name : |
Sree Rama Krishna Grandhi |
|
Designation : |
Director |
|
Address : |
Flat No. 403, Sagar Heights Patigadda, Prakash Nagar,
Hyderabad – 500016, Telangana, India |
|
Date of Appointment : |
30.07.2014 |
|
DIN No.: |
06921031 |
KEY EXECUTIVES
|
Name : |
Nisha Jain |
|
Designation : |
Company Secretary |
|
Address : |
17th R. G. Kar Road, Kolkata – 700004, West Bengal, India |
|
Date of Appointment : |
30.05.2015 |
|
PAN No.: |
ARLPJ4856B |
|
|
|
|
Name : |
Ramakrishna Peruri |
|
Designation : |
CFO(KMP) |
|
Address : |
G-1, Meghna Enclave, Near 7 Hillsappartment Nizampet Road,
Kukatpalli, Hyderabad – 500072, Telangana, India |
|
Date of Appointment : |
28.09.2015 |
|
PAN No.: |
AKRPP2307E |
SHAREHOLDING PATTERN
AS ON SEPTEMBER 2017
|
Category of
shareholder |
No. of fully paid
up equity shares held |
Shareholding as a %
of total no. of shares |
|
|
(A) Promoter & Promoter Group |
58,56,644 |
73.21 |
|
|
(B) Public |
21,43,356 |
26.79 |
|
|
Grand Total |
80,00,000 |
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 % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
undivided Family |
16,78,462 |
20.98 |
|
|
Sri Kakarlapudi Sri Hari Raju |
15,27,334 |
19.09 |
|
|
Sri Kakarlapudi Krishna Veni |
1,440 |
0.02 |
|
|
Hari Krishna Sk |
8,280 |
0.10 |
|
|
Sk G Parvathi |
31,752 |
0.40 |
|
|
Sri Kakarlapudi Sirisha |
1,09,656 |
1.37 |
|
|
Any Other (Specify) |
38,95,546 |
48.69 |
|
|
Veerat Finance & Investment Limited |
38,95,546 |
48.69 |
|
|
Sub Total A1 |
55,74,008 |
69.68 |
|
|
A2) Foreign |
0.00 |
||
|
Individuals (Nonresident Individuals/ Foreign Individuals) |
2,82,636 |
3.53 |
|
|
Kakarlapudi Raju Sitarama |
1,13,508 |
1.42 |
|
|
Nadimpalli V Raju |
1,12,788 |
1.41 |
|
|
Rajagopal Rao Rangineni |
56,340 |
0.70 |
|
|
Sub Total A2 |
2,82,636 |
3.53 |
|
|
A=A1+A2 |
58,56,644 |
73.21 |
Statement showing
shareholding pattern of the Public shareholder
|
Category & Name
of the Shareholders |
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+B+C2) |
|
|
B1) Institutions |
0 |
0 |
|
|
Financial Institutions/ Banks |
2 |
2214 |
|
|
Sub Total B1 |
2 |
2214 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0 |
0 |
|
|
B3) Non-Institutions |
0 |
0 |
|
|
Individual share
capital upto INR 0.200 Million |
7449 |
1157619 |
|
|
Individual share
capital in excess of INR 0.200 Million |
2 |
352863 |
|
|
Ajay kumar kayan |
1 |
208800 |
|
|
Prasanna challa |
1 |
144063 |
|
|
Any Other (specify) |
215 |
630660 |
|
|
Everest Organics Limited Unclaimed Suspense Account |
1 |
202932 |
|
|
Bodies Corporate |
73 |
236090 |
|
|
Clearing Members |
29 |
22548 |
|
|
NRI |
113 |
372022 |
|
|
Sub Total B3 |
7666 |
2141142 |
|
|
B=B1+B2+B3 |
7668 |
2143356 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Active Pharmaceutical Ingredients (API)
and Intermediates. (Registered Activity) |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Available |
||||
|
|
|
||||
|
Imports : |
Not Available |
||||
|
|
|
||||
|
Terms : |
Not Available |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
361 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
P.S.N. Ravi Shankar and Associates Chartered Accountants |
|
Address : |
Flat No. 205, II Floor, B-Block, Kushal Tower, Khairatabad, Hyderabad
- 500004, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23320558/ 93381 |
|
Fax No.: |
91-40-23393381 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Related Parties : |
· Virat and Company · Veerat Finance and Investment Limited |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3338280 |
Equity Shares |
INR 10/- each |
INR 33.383 Million |
|
4650000 |
Add: issued during the year (4650000 Equity Shares of INR 10/- each
fully paid up) |
|
INR 46.500 Million |
|
|
Total |
|
INR 79.883
Million |
Details of equity shares held by shareholders holding more than 5%
shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Veerat Finance and Investment Co. Limited |
3883826 |
48.62% |
|
S.K. Srihari Raju |
1499854 |
18.77% |
Reconciliation of
the number of shares
|
Equity Shares |
Number of Shares |
|
Shares outstanding at the beginning of the year |
33.382 |
|
Shares issued during the year |
46.500 |
|
Total |
79.883 |
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 |
79.883 |
33.383 |
92.730 |
|
(b) Reserves &
Surplus |
80.884 |
26.504 |
(34.647) |
|
(c) Money received
against share warrants |
0.053 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
160.820 |
59.887 |
58.083 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
64.975 |
138.311 |
112.853 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
64.975 |
138.311 |
112.853 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
103.498 |
120.985 |
106.193 |
|
(b) Trade payables |
481.197 |
402.934 |
353.934 |
|
(c) Other current
liabilities |
38.327 |
29.516 |
25.609 |
|
(d) Short-term provisions |
11.567 |
7.063 |
10.036 |
|
Total Current Liabilities
(4) |
634.589 |
560.498 |
495.772 |
|
|
|
|
|
|
TOTAL |
860.384 |
758.696 |
666.708 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
335.567 |
284.433 |
239.601 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
2.483 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.845 |
0.845 |
0.845 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.489 |
|
(e) Other Non-current
assets |
7.511 |
6.927 |
4.253 |
|
Total Non-Current Assets |
343.923 |
292.205 |
247.671 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
134.184 |
94.151 |
84.737 |
|
(c) Trade receivables |
315.466 |
319.641 |
289.328 |
|
(d) Cash and cash
equivalents |
14.912 |
10.611 |
10.499 |
|
(e) Short-term loans and
advances |
43.729 |
28.407 |
28.647 |
|
(f) Other current assets |
8.170 |
13.681 |
5.826 |
|
Total Current Assets |
516.461 |
466.491 |
419.037 |
|
|
|
|
|
|
TOTAL |
860.384 |
758.696 |
666.708 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1068.935 |
994.765 |
1059.769 |
|
|
Other Income |
9.790 |
3.655 |
5.305 |
|
|
TOTAL |
1078.725 |
998.420 |
1065.074 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
713.183 |
617.239 |
692.895 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(37.802) |
7.930 |
9.480 |
|
|
Employees benefits
expense |
87.384 |
72.237 |
65.872 |
|
|
Exceptional item |
0.000 |
0.025 |
0.000 |
|
|
Extraordinary item |
(3.660) |
7.976 |
8.725 |
|
|
Other expenses |
246.096 |
237.547 |
213.745 |
|
|
TOTAL |
1005.201 |
942.954 |
990.717 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
73.524 |
55.466 |
74.357 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
27.568 |
25.984 |
27.008 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
45.956 |
29.482 |
47.349 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
|
24.477 |
27.278 |
26.717 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
21.479 |
2.204 |
20.632 |
|
|
|
|
|
|
|
Less |
TAX |
4.300 |
0.400 |
4.099 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
17.179 |
1.804 |
16.533 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
223.644 |
182.392 |
198.109 |
|
|
TOTAL EARNINGS |
223.644 |
182.392 |
198.109 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
124.380 |
137.927 |
0.000 |
|
|
TOTAL IMPORTS |
124.380 |
137.927 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3.03 |
0.54 |
1.78 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
21.375 |
15.854 |
18.173 |
|
Cash generated from operations |
97.165 |
71.341 |
41.388 |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
QUARTERLY
RESULTS
|
Particulars |
|
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
|
|
|
1st
Quarter |
2st
Quarter |
|
Net sales |
|
244.670 |
284.310 |
|
Total Expenditure |
|
226.160 |
265.430 |
|
PBIDT (Excluding Other Income) |
|
18.510 |
18.880 |
|
Other income |
|
NA |
3.170 |
|
Operating Profit |
|
18.510 |
22.050 |
|
Interest |
|
6.480 |
6.350 |
|
Exceptional Items |
|
NA |
NA |
|
PBDT |
|
12.030 |
15.700 |
|
Depreciation |
|
5.970 |
6.580 |
|
Profit Before Tax |
|
6.060 |
9.120 |
|
Tax |
|
1.200 |
1.900 |
|
Provisions and contingencies |
|
NA |
NA |
|
Profit after tax |
|
4.860 |
7.220 |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
4.860 |
7.220 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
107.72 |
117.28 |
99.65 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.39 |
3.11 |
3.66 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
246.27 |
238.27 |
186.44 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.55 |
0.59 |
0.88 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.22 |
0.20 |
0.31 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.84 |
0.94 |
0.94 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.18 |
4.59 |
4.08 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
3.95 |
9.36 |
8.54 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.09 |
4.75 |
4.17 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.67 |
2.13 |
2.75 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.61 |
0.18 |
1.56 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.00 |
0.24 |
2.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
10.68 |
3.01 |
28.46 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.81 |
0.83 |
0.85 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.60 |
0.66 |
0.67 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.19 |
0.08 |
0.09 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.38 |
8.24 |
2.56 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.81 |
0.83 |
0.85 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
Market Value |
INR 143/- |
FINANCIAL ANALYSIS
[all figures are
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 |
92.730 |
33.383 |
79.883 |
|
Reserves & Surplus |
(34.647) |
26.504 |
80.884 |
|
Net worth |
58.083 |
59.887 |
160.767 |
|
|
|
|
|
|
long-term borrowings |
112.853 |
138.311 |
64.975 |
|
Short term borrowings |
106.193 |
120.985 |
103.498 |
|
Current Maturities of
Long term debt |
18.173 |
15.854 |
21.375 |
|
Total borrowings |
237.219 |
275.150 |
189.848 |
|
Debt/Equity ratio |
4.084 |
4.594 |
1.181 |
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 |
1059.769 |
994.765 |
1068.935 |
|
|
|
(6.134) |
7.456 |
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 |
1059.769 |
994.765 |
1068.935 |
|
Profit/(Loss) |
16.533 |
1.804 |
17.179 |
|
|
1.56% |
0.18% |
1.61% |
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 |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
|
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS:
During the financial year the income from operation was INR 1068.930 Million as compared to INR 994.760 Million registered in the previous year reflecting a year-on-year increase of 7.46%. Profit before other income, finance cost, Extraordinary and exceptional item and Taxes was INR 35.600 Million as compared to INR 32.540 Mllion in the previous year reflecting a year-onyear increase of 9.40%. Whereas Profit After Tax was INR 17.180 Million as compared to INR 1.800 Million in the previous year, registered significant growth in PAT.
Business Updates:
* We please to Inform you that the Company has received USFDA Approval for API Plant and EIR Report.
* New R&D Centre Civil Structure completed and slated for operation in F. Y. 2018.
* New API Under development
* Completed the Corporate Restructuring
* Improvement in long Term Credit Rating from (B- to BB-)
* Add new market for export.
* CEP certification for omeprazole from EDQM ( European Drug Regulator)
* Applied for import Drug License to China FDA for Esomeprazole.
They are hereby informed that there was a fire accident in the factory situated at Aroor Village, Sadasivapet Mandal, Sanga Reddy District – 502 291, Telangana, India, involving a total damage to the Company amounting to INR 10.318 Million/- they are again hereby informed, that there is adequate insurance coverage for both fixed assets and current
UNSECURED LOAN:
|
PARTICULARS |
31.03.2017 INR
In Million |
31.03.2016 INR
In Million |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
10.459 |
31.359 |
|
Inter corporate deposit |
0.150 |
52.491 |
|
Security deposit from employee |
6.711 |
6.710 |
|
Total |
17.320 |
90.560 |
STANDALONE UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER / HALF YEAR ENDED 30
SEPTEMBER 2017
(INR In Million)
|
Particulars |
Quarter ended |
Half year ended |
|
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
Unaudited |
||
|
INCOME FROM OPERATIONS |
|
|
|
|
Net Sales |
284.307 |
244.469 |
528.776 |
|
Other Operating Income |
3.168 |
0.202 |
3.370 |
|
Total
Income from Operations |
287.475 |
244.671 |
532.146 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
175.032 |
166.330 |
314.362 |
|
Purchase of Stock in Trade |
0.000 |
0.000 |
0.000 |
|
Changes in inventories of finished goods and
work-in-progress |
2.076 |
(20.158) |
(18.082) |
|
Employee benefits expense |
24.967 |
21.231 |
46.197 |
|
Finance Cost |
6.349 |
6.480 |
12.830 |
|
Depreciation and Amortization expenses |
6.584 |
5.973 |
12.557 |
|
Other Expenditure |
63.345 |
58.750 |
122.095 |
|
Total
Expenses |
278.353 |
238.606 |
516.959 |
|
Profit/(Loss)
from Operations before Other Income, Finance Costs, & Exceptional items |
9.122 |
6.064 |
15.187 |
|
Exceptional items |
-- |
-- |
-- |
|
Profit/(Loss)
from Ordinary Activities before Finance Costs & Exceptional items |
9.122 |
6.064 |
15.187 |
|
Extraordinary item |
-- |
-- |
-- |
|
Profit
/ (Loss) before Tax |
|
|
|
|
Tax Expense |
1.900 |
1.200 |
3.100 |
|
Profit
/ (Loss) after Tax |
7.222 |
4.864 |
12.087 |
|
Paid-up Equity Share Capital (Face value INR 10/- per
share) |
|
|
|
|
Reserves (excluding Revaluation Reserve) |
|
|
|
|
Earnings per Share (EPS) - INR |
0.90 |
0.61 |
1.51 |
STANDALONE
STATEMENT OF ASSTES AND LIABILITIES
INR In Million
|
SOURCES OF FUNDS |
|
|
30.09.2017 (Unaudited) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
80.000 |
|
(b) Reserves & Surplus |
|
|
93.064 |
|
(c) Pending Call Money |
|
|
0.000 |
|
Sub-total Shareholders’ |
|
|
173.064 |
|
|
|
|
|
|
(2) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
56.408 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
|
Sub-total of
Non-Current liabilities |
|
|
56.408 |
|
|
|
|
|
|
(3)
Current liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
113.999 |
|
(b) Trade
payables |
|
|
513.077 |
|
(c) Other
current liabilities |
|
|
33.524 |
|
(d) Short-term
provisions |
|
|
14.632 |
|
Sub-total of Current liabilities |
|
|
675.232 |
|
|
|
|
|
|
TOTAL |
|
|
904.704 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
339.205 |
|
(b)
Non-Current investments |
|
|
0.845 |
|
(c) Deferred
tax assets (net) |
|
|
0.000 |
|
(d) Long
term loans and advances |
|
|
0.000 |
|
(e) Other
non-current assets |
|
|
7.611 |
|
Sub-total of
Non-Current Assets |
|
|
347.661 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
153.599 |
|
(c) Trade receivables |
|
|
332.672 |
|
(d) Cash
and cash equivalents |
|
|
10.832 |
|
(e)
Short-term loans and advances |
|
|
53.452 |
|
(f) Other
current assets |
|
|
6.487 |
|
Sub-total of
Current Assets |
|
|
557.042 |
|
|
|
|
|
|
TOTAL |
|
|
904.704 |
NOTES:
1. The above statement has been prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2015 (as amended) (IND AS) prepared u/s 133 of the Companies Act,2013 and other recognised accounting practices and policies.
2. The above financial results for the quarter ended 30th Sep,2017 were
reviewed and recommended by the Audit committee in its meeting held on 14th
November,2017 and thereafter approved and taken on record by the Board of
Directors in its meeting held on the same day.
3. The Company Operates in only one business i.e Active Pharmaceuticals
Ingredients and Intermediates.
4. Figures for the prior quarter/period/year have been regrouped and
reclassified wherever considered necessary.
5. 204624 equity shares of Everest Organics Ltd are still lying under
"Everest Organics Limited Unclaimed Suspence Account" as on
30.09.2017.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G54947262 |
100125473 |
RELIANCE COMMERCIAL FINANCE LIMITED |
26/09/2017 |
- |
- |
7500000.0 |
RELIANCE CENTRE, 6TH FLOOR, SOUTH WING,OFF. WESTERN EXPRESS HIGHWAY, SANTACRUZ (EAST)MUMBAIMA400055IN |
|
2 |
G36751121 |
100079365 |
RELIANCE CAPITAL LTD |
22/02/2017 |
- |
- |
9000000.0 |
"H" BLOCK 1ST FLOORDHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNENAVI MUMBAIMH400710IN |
|
3 |
G06765283 |
100036353 |
RELIANCE CAPITAL LTD |
30/06/2016 |
- |
- |
11300000.0 |
"H" BLOCK 1ST FLOORDHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNENAVI MUMBAIMA400710IN |
|
4 |
C60729803 |
10583937 |
RELIANCE CAPITAL LTD |
30/07/2015 |
- |
- |
10500000.0 |
"H" BLOCK 1ST FLOORDHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNENAVI MUMBAIMH400710IN |
|
5 |
C60093804 |
10582598 |
RELIANCE CAPITAL LTD |
12/06/2015 |
- |
- |
7037300.0 |
"H" BLOCK 1ST FLOORDHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNENAVI MUMBAIMH400710IN |
|
6 |
C14340558 |
10511884 |
RELIANCE CAPITAL LTD |
27/06/2014 |
- |
- |
4706422.0 |
"H" BLOCK 1ST FLOORDHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNENAVI MUMBAIMH400710IN |
|
7 |
B72302847 |
10381424 |
KOTAK MAHINDRA BANK LIMITED |
16/10/2012 |
20/02/2013 |
- |
239600000.0 |
36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN |
|
8 |
B04445037 |
10264029 |
KOTAK MAHINDRA BANK LIMITED |
29/01/2011 |
- |
- |
4735000.0 |
36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN |
|
9 |
B04452710 |
10264035 |
KOTAK MAHINDRA BANK LIMITED |
29/01/2011 |
- |
- |
50000000.0 |
36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN |
|
10 |
A65151482 |
10165115 |
KOTAK MAHINDRA BANK LIMITED |
30/05/2009 |
- |
- |
30600000.0 |
36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN |
FIXED ASSETS:
· Land and Land Development
· Factory Buildings
· Plant and Machinery and Utilities
· Office Equipment
· Computers
· Furniture and Fittings
· Vehicles
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 63.49 |
|
|
1 |
INR 90.91 |
|
Euro |
1 |
INR 79.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
NKTS |
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 |
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.