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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

516799

Report Date :

28.06.2018

 

IDENTIFICATION DETAILS

 

Name :

MERCK LIFE SCIENCE PRIVATE LIMITED  (w.e.f 29.04.2015)

 

 

Formerly Known As :

MILLIPORE (INDIA) PRIVATE LIMITED

 

 

Registered Office :

Godrej One, 8th Floor, Pirojshanagar Eastern Express Highway, Vikroli, Mumbai-400079, Maharashtra

Tel. No.:

91- 22-62109000

 

 

Country :

India

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

03.09.1986

 

 

CIN No.:

[Company Identification No.]

U33100MH1986PTC221693

 

 

Capital Investment / Paid-up Capital :

INR 15.000 Million

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

PAN No.:

[Permanent Account No.]

AACCM1226B

 

 

GSTN :

[Goods & Service Tax Registration No.]

19AACCM1226B1Z1

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :
  • The Company is primarily engaged as a life science company with expanded offerings for biopharmaceutical manufacturers and clinical, analytical and research laboratories. It offers reliable and innovative tools, technologies and services for the discovery and manufacture of drugs and new therapeutics and for improving productivity in laboratories.

 

  • Wholesale trade of machinery, equipment and supplies (Registered Activity)

 

 

No. of Employees :

Information denied by the management

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A+

 

Credit Rating

Explanation

Rating Comments

A+

Low Risk

Business dealings permissible with low risk of default

 

Maximum Credit Limit :

USD 4400000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exists 

 

 

Comments :

Subject was incorporated in the year 1986. It is a subsidiary of Sigma- Aldrich PTE Limited, Singapore which holds 60% stake in the company and remaining 40% is held by Millipore Asia Limited, USA.


For the financial year ended December 2016, the company has achieved a favourable growth in its revenue as compared to the previous year and has reported an average net profit margin of 1.98%.


The company possesses sound financial position marked by healthy net worth base along with comfortable liquidity parameter.


Rating takes into consideration the company’s decent Earnings Per Share (EPS) of INR 98.58 as against its Face Value (FV) of INR 10.


Business is active. Payment seems to be regular.


In view of aforesaid, 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

(31.12.2017)

Current Rating

(01.04.2018)

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 31-03-2018.

 

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 28.06.2018

 

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 DECLINED

 

Management non-cooperative (Tel No.:91-22-62109000)

 

LOCATIONS

 

Registered Office/Head Office :

Godrej One, 8th Floor, Pirojshanagar Eastern Express Highway, Vikroli, Mumbai-400079, Maharashtra, India

Tel. No.:

91- 22-62109000 / 62109800

Fax No.:

91-22-62109999

E-Mail :

corpsec@merckgroup.com

Website :

https://www.merckgroup.com

 

 

Mumbai Site Office :

Survey No 109, 110, 112, Savroli Village, Taluka Khalapur, Raigad-410203 Maharashtra, India

 

 

Goa Site Office:

Plot No. 11/1, Marvasodo Usgaon Taluka Ponda Goa- 403407, India

 

 

Bangalore Site Office:

50 A, 2nd Phase, Ring Road, Peenya, Bangalore- 560058, Karnataka, India

 

 

Bangalore  (Jigani) Site Office:

Plot No - 12, Bommasandra Jigani Link Road, Bangalore - 560100, Karnataka, India

 

 

Factory:

D-176, MIDC, TTC Industrial Area, Thane-Belapur Road, Nerul, Navi Mumbai-400706, Maharashtra, India

 

 

DIRECTORS

 

As on 31.03.2018

 

Name :

Mr. Peter Joseph Salazar

Designation :

Director

Address :

602, 6th Floor Pushpvilla Chs Madonna Colony S V P Road, Borivali - West Mumbai 400103, Maharashtra, India

Date of Birth/Age :

29.02.1960

Date of Appointment :

30.06.2015

DIN No.:

07114652

 

 

Name :

Mr. Kevin Leo Gorman

Designation :

Director

Address :

Flat No. 902, 9th Floor Anand, 42, Pali Hill, Bandra West, Mumbai- 400050, Maharashtra, India

Date of Birth/Age :

07.01.1973

Date of Appointment :

30.06.2016

DIN No.:

07341380

 

KEY EXECUTIVES

 

Name :

Mr. Rahul Tibrewal

Designation :

Company Secretary

Address :

H.No.36, Karkend Bazar P.O. Kusunda, Dhanbad – 828116, Jharkhand, India

Date of Appointment :

27.06.2016

PAN No.:

AGQPT2786A

 

 

MAJOR SHAREHOLDERS

 

As on 30.06.2017

 

Names of Shareholders

No. of Shares

% of Holding

Millipore Asia Limited, United States

600000

40.00

Sigma Aldrich Pte Limited, Singapore

900000

60.00

Total

1500000

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.06.2017

 

Category

Percentage

Promoters (Body corporate)

100.00

Total 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :
  • The Company is primarily engaged as a life science company with expanded offerings for biopharmaceutical manufacturers and clinical, analytical and research laboratories. It offers reliable and innovative tools, technologies and services for the discovery and manufacture of drugs and new therapeutics and for improving productivity in laboratories.

 

  • Wholesale trade of machinery, equipment and supplies (Registered Activity)

 

 

Products / Services :

Item Code No.

Products/Services Description

84212190

Parts of micro

filtration systems

70179090

Filtration process

systems

90272000

Absolute Membrane

Separators

99834499

K prime

99611730

Chromatography

 

 

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information denied by the management

 

 

Bankers :

 

Banker Name :

Not Divulged

Branch :

--

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

 

 

Auditors :

 

Name :

B S R and Company LLP

Chartered Accountants

Address :

Kpmg House, Kamala Mills Compound, 448, Senapati Bapat Marg, Lower Parel, Mumbai-400013, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AAAFB9852F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company
  • Sigma-Aldrich PTE Limited Singapore

 

 

Fellow Subsidiary company:
  • Merck Kgaa
  • EMD Millipore Corporation
  • Merck Inc.
  • Merck Limited
  • Merck Specialities Private Limited
  • Millipore Australia Pty Limited
  • Millipore S.A.S
  • P.T. Merck Chemicals And Life Sciences

 

CAPITAL STRUCTURE

 

As on 30.06.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2250000

Equity Shares

INR 10/- each

INR 22.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1500000

Equity Shares

INR 10/- each

INR 15.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.12.2016

31.12.2015

31.12.2014

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

15.000

15.000

15.000

(b) Reserves and Surplus

1539.174

1391.301

1177.550

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

1554.174

1406.301

1192.550

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

2726.680

2658.725

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long-term liabilities

15.309

14.408

0.000

(d) long-term provisions

401.432

372.451

45.383

Total Non-current Liabilities (3)

3143.421

3045.584

45.383

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

0.000

144.761

0.000

(b) Trade payables

700.545

768.115

106.181

(c) Other current liabilities

397.127

364.567

212.097

(d) Short-term provisions

219.396

130.501

99.498

Total Current Liabilities (4)

1317.068

1407.944

417.776

 

 

 

 

TOTAL

6014.663

5859.829

1655.709

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

606.653

546.149

138.547

(ii) Intangible Assets

1220.661

1531.722

0.000

(iii) Tangible assets capital work-in-progress

112.003

69.418

210.826

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

137.943

181.704

48.486

(d) Long-term loans and advances

392.214

389.888

149.780

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

2469.474

2718.881

547.639

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

977.058

1156.491

342.769

(c) Trade receivables

1427.536

1418.483

496.898

(d) Cash and bank balances

765.025

101.021

75.123

(e) Short-term loans and advances

363.571

373.054

176.830

(f) Other current assets

11.999

91.899

16.450

Total Current Assets

3545.189

3140.948

1108.070

 

 

 

 

TOTAL

6014.663

5859.829

1655.709

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.12.2016

31.12.2015

31.12.2014

 

SALES

 

 

 

 

Revenue from operations

7476.016

5555.659

2687.140

 

Other Income

64.800

7.979

3.349

 

TOTAL

7540.816

5563.638

2690.489

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

1873.234

1435.193

667.776

 

Purchases of Stock-in-Trade

2160.098

1856.824

877.495

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

115.768

(266.882)

(16.456)

 

Employee benefit expense

718.187

554.627

275.303

 

CSR expenditure

1.361

1.026

0.000

 

Other expenses

1532.600

1174.828

429.213

 

TOTAL

6401.248

4755.616

2233.331

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

1139.568

808.022

457.158

 

 

 

 

 

Less

FINANCIAL EXPENSES

282.098

187.994

2.900

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

857.470

620.028

454.258

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

445.236

307.652

27.647

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

412.234

312.376

426.611

 

 

 

 

 

Less

TAX

264.361

98.625

156.894

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

147.873

213.751

269.717

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

1575.426

1473.648

1036.654

 

TOTAL EARNINGS

1575.426

1473.648

1036.654

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

98.58

142.50

179.81

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.12.2016

31.12.2015

31.12.2014

Current Maturities of Long term debt

NA

NA

NA

Net cash flows from (used in) operations

1517.743

631.754

472.522

Net cash flows from (used in) operating activities

1239.178

426.923

302.257

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

 

31.12.2016

31.12.2015

31.12.2014

Average Collection Days

(Sundry Debtors / Income * 365 Days)

 

69.70

93.19

67.49

 

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

 

5.24

3.92

5.41

 

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

 

63.40

85.16

25.08

 

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

 

1.17

0.70

1.33

 

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

 

0.59

0.38

1.31

 

LEVERAGE RATIOS

 

PARTICULARS

 

 

31.12.2016

31.12.2015

31.12.2014

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

 

0.67

0.69

0.25

 

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

 

1.75

1.99

0.00

 

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

 

0.85

1.00

0.35

 

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

 

1.25

1.53

0.29

 

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

 

4.04

4.30

157.64

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.12.2016

31.12.2015

31.12.2014

Net Profit Margin

((PAT / Sales) * 100)

(%)

1.98

3.85

10.04

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

(%)

2.46

3.65

16.29

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

(%)

9.51

15.20

22.62

 

SOLVENCY RATIO

 

PARTICULARS

 

 

31.12.2016

31.12.2015

31.12.2014

Current Ratio

(Current Assets / Current Liabilities)

 

2.69

2.23

2.65

 

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

 

1.95

1.41

1.83

 

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

 

0.26

0.24

0.72

 

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

 

181.78

186.90

0.00

 

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

 

2.69

2.23

2.65

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts




 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.12.2014

31.12.2015

31.12.2016

 

(INR In Million)

(INR In Million)

(INR In Million)

Share Capital

15.000

15.000

15.000

Reserves & Surplus

1177.550

1391.301

1539.174

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

1192.550

1406.301

1554.174

 

 

 

 

Long-term borrowings

0.000

2658.725

2726.680

Short term borrowings

0.000

144.761

0.000

Total borrowings

0.000

2803.486

2726.680

Debt/Equity ratio

0.000

1.994

1.754

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.12.2014

31.12.2015

31.12.2016

 

(INR In Million)

(INR In Million)

(INR In Million)

Sales

2687.140

5555.659

7476.016

 

 

106.750

34.566

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.12.2014

31.12.2015

31.12.2016

 

(INR In Million)

(INR In Million)

(INR In Million)

Sales

2687.140

5555.659

7476.016

Profit/ (Loss)

269.717

213.751

147.873

 

10.04 %

3.85 %

1.98 %

 

 

 

LEGAL CASES

 

 

Addl. CMM,Bhoiwada, Bhoiwada, Dadar, Mumbai

Case Details

Case Type: Misc cases
Filing Number: 306583/2016Filing Date: 26-10-2016
Registration Number: 1301576/2016Registration Date: 26-10-2016
CNR Number: MHMM15-007644-2015

 

Case Status

First Hearing Date: 12th January 2017
Next Hearing Date: 07th March 2017
Stage of Case: FOR VERIFICATION
Court Number and Judge: 13-Metropolitan Magistrate

Petitioner and Advocate

1) TOSHVIN ANALYTICAL PVT. LTD.
    Address - 103, S.J.HOUSE, 1ST FLOOR, SITARAM MILL COMPOUND, N.M.JOSHI MARG, LOWER PAREL, MUMBAI
    Advocate- SAKSHI S. PARAB


Respondent and Advocate

1) MERCK LIFE SCIENCE PVT. LTD.
    Address - GODREJ ONE, 8TH FLOOR, PIROJSHAHNAGAR, EASTERN EXPRESS HIGHWAY,VIKHROLI(EAST), MUMBAI
    Advocate - NO. ADV.

2) KRISHNAN NARAYANSWAMY
    I-106,DARA ENCLAVE, SECTOR 9, NERUL, NAVI MUMBAI
3) CLAUS DIETER FRIDRICH BOEDECKER
    FLOOR NO. 14, SEC 128, TAIPEI
4) MAHISH MALU
    1/1,1ST FLOOR, MAHALAXMI COOP HSG.SOC. LTD. NEAR STAR CITY CINEMA, MANAMALA TANK ROAD, MAHIM MUMBAI
5) SHARATH CHANDRA PRASAD
    GODREJ ONE, 8TH FLOOR, PIROJSHANAGAR, EASTERN EXKPRESS HIGHWAY, VIKHROLI- EAST, MUMBAI-79
6) VIVEK PARACHUR
    GODREJ ONE, 8TH FLOOR, PIROJSHANAGAR, EASTERN EXKPRESS HIGHWAY, VIKHROLI- EAST, MUMBAI-79
7) VIKAS GUPTA
    GODREJ ONE, 8TH FLOOR, PIROJSHANAGAR, EASTERN EXKPRESS HIGHWAY, VIKHROLI- EAST, MUMBAI-79
8) PETER SALAZAR
    GODREJ ONE, 8TH FLOOR, PIROJSHANAGAR, EASTERN EXKPRESS HIGHWAY, VIKHROLI- EAST, MUMBAI-79
9) KEVIN GORMAN
    FLAT NO. 902, ANAND 42, PALI HILL, BANDRA WEST, MUMBAI-50

Acts

Under Act(s)

Under Section(s)

Indian Penal Code

406,467,471,120(B)

History of Case Hearing

 

Registration Number

Judge

Business On Date

Hearing Date

Purpose of hearing

1301576/2016

Metropolitan Magistrate

12-01-2017

07-03-2017

FOR VERIFICATION

 

Bottom of Form

 


City Civil Court, Mumbai

Case Details

Case Type: SUMMARY CIVIL SUIT - SUMMARY SUIT
Filing Number: 101865/2017Filing Date: 15-02-2017
Registration Number: 100316/2017Registration Date: 04-03-2017
CNR Number: MHCC01-001789-2017



Case Status

First Hearing Date: 28th April 2017
Next Hearing Date: 31st August 2017
Stage of Case: REPORT
Court Number and Judge: 27-COURT 27 ADDL SESSIONS JUDGE

Petitioner and Advocate

1) Toshvin Analytical Pvt Ltd
    Address - 103 S. J House 1st Floor Sitaram Mills Compound N M Joshi Marg Lower Parel Mumbai 400011
    Advocate- Ms Dhru and Co


Respondent and Advocate

1) Merck Life Science Pvt Ltd
    Address - Godrej One 8th Floor Pirojshanagar Estern Express Highway Vikhroli East Mumbai 400079


Acts

Under Act(s)

Under Section(s)

C.P.C.- Non-Interlocutory Order

9

History of Case Hearing

 

 

Registration Number

Judge

Business On Date

Hearing Date

Purpose of hearing

100316/2017

COURT 27 ADDL SESSIONS JUDGE

28-04-2017

31-08-2017

REPORT

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of establishment

Yes

2]

Constitution of the entity Incorporation details

Yes

3]

Locality of the entity

Yes

4]

Premises details

No

5]

Buyer visit details

--

6]

Contact numbers

Yes

7]

Name of the person contacted

No

8]

Designation of contact person

No

9]

Promoter’s background

Yes

10]

Date of Birth of Proprietor / Partners / Directors

Yes

11]

Pan Card No. of Proprietor / Partners

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

No

17]

Details of sister concerns

Yes

18]

Major suppliers

No

19]

Major customers

No

20]

Banking Details

No

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

Yes

33]

Market information

--

34]

Payments terms

No

35]

Negative Reporting by Auditors in the Annual Report

No

 

COMPANY OVERVIEW

Merck Life Science Private Limited (formerly known as Millipore (India) Private Limited) the Company is incorporated under the Companies Act, 1956. The Company is primarily engaged as a leading life science company with expanded offerings for biopharmaceutical manufacturers and clinical, analytical and research laboratories. It offers reliable and innovative tools, technologies and services for the discovery and manufacture of drugs and new therapeutics and for improving productivity in laboratories. Company name has been changed to reflect its core business activity. The Company has changed its name from Millipore (India) Private Limited to Merck Life Science Private Limited with effect from 29 April 2015. Effective from 01 May, 2015, the company has purchased chemical division from Merck Specialities Private Limited on slump sale basis.

 

OPERATIONS

During the financial year ended 31st December 2016, your Company achieved a turnover of INR 7540.816 million as against a turnover of INR 5563.638 million in the previous year. The profit after tax for year ended 31st December 2016 was INR 147.873 million versus INR 213.751 million for year ended 31st December 2015

 

UNSECURED LOAN

 

PARTICULAR

31.12.2016

(INR in Million)

31.12.2015

(INR in Million)

Long-term Borrowings

 

 

 

 

 

Other loans and advances, others

(Repayable after the expiary of 7 years from the closing date i.1. 1st May 2015 with rate of interest of 10 %)

2726.680

2658.725

 

 

 

Short-term borrowings

 

 

Working capital loans from banks

0.000

144.761

 

 

 

Total

2726.680

2803.486

 

INDEX OF CHARGES

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

A31328305

90194100

STATE BANK OF INDIA

20/07/1997

06/12/2007

-

240000000.0

PEENYA INDUSTRIAL ESTATE BRANCHB-96, II CROSS, I STAGE, PEENYA INDUSTRIAL ESTATE BANGALORE-560001 KARNATAKA INDIA

2

Y10295632

90193733

STATE BANK OF INDIA

26/07/1993

26/02/1997

-

12000000.0

PEERYA INDUSTRIAL ESTATE BRNACH BANGALORE-560058 KARNATAKA INDIA

3

Y10295469

90193570

CANARA BANK

24/12/1990

-

-

10000000.0

TUMKUR ROAD BRANCH BANGALORE-560058 KARNATAKA INDIA

4

Y10295419

90193520

CANARA BANK

24/02/1990

15/06/1990

-

10000000.0

TUMKUR ROAD BRANCH BANGALORE-560058 KARNATAKA INDIA

5

Y10295373

90193474

CANARA BANK

08/07/1989

-

-

1000000.0

TUMKUR ROAD BRANCH BANGALORE-560058 KARNATAKA INDIA

 

FIXED ASSETS

  • Land
  • Building
  • Office building
  • Plant and equipment
  • Furniture and Fixture
  • Vehicles
  • Motor vehicle
  • Computer

 

 

 

 

 

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 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 68.08

UK Pound

1

INR 89.59

Euro

1

INR 78.83

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

NYT

 

 

Report Prepared by :

RKI

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.