|
|
|
MIRA INFORM REPORT
|
Report No. : |
516729 |
|
Report Date : |
28.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
SAVA HEALTHCARE
LIMITED (w.e.f.11.05.2015) |
|
|
|
|
Formerly Known As
: |
ANAGHA PHARMA LIMITED (w.e.f.06.04.2015) ANAGHA PHARMA PRIVATE LIMITED (w.e.f.23.12.2008) ANAGHA INTERTRADE SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shed No.508, GIDC 2, Wadhawan City, District Surendranagar – 363035,
Gujarat |
|
Tel. No.: |
91-20-30516100 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
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|
|
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Date of
Incorporation : |
25.10.2004 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51397GJ2004PLC074963 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
INR 3.592 Million |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA9456D |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
29AAECA9456D2ZH |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturing and Trading of wide range of Pharmaceuticals Products.
[Registered Activity] |
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|
|
|
No. of Employees
: |
Not Divulged |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 2157000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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|
|
Comments : |
Subject was incorporated in the year 2004 and it is having satisfactory track records. It is engaged in the manufacturing and trading of wide range of pharmaceuticals
products.
Management of the company has not filed its financials of 2017 with government department. As per available financials of 2016, the company has increased its revenue from operations as compared to previous year and reported losses. However, rating takes into consideration sound financial risk profile of the company marked by healthy networth position and low with debt balance sheet. Further, rating derives strength from long standing track records of business operations along with experienced management team, established market position and reputed clientele as well as improvement in the revenue profile during the year. Rating strengths are partially offset by continuously incurring losses from its business operations and intense competition from industry. Trade relations are reported as fair. Business is active. Payments are slow but correct. In view of the aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (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 |
SMERA |
|
Rating |
Long Term Rating = BB- |
|
Rating Explanation |
Moderate risk of default |
|
Date |
23.02.2018 |
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
31-03-2018.
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 BY
|
Name : |
Mr. Nitin Utpat |
|
Designation : |
Logistics Department |
|
Contact No.: |
91-9764442274 |
|
Name : |
Mr. Naresh |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-20-30516100 |
|
Date : |
23.06.2018 |
LOCATIONS
|
Registered Office : |
Shed No.508, GIDC 2, Wadhawan City, District Surendranagar – 363035,
Gujarat |
|
Tel. No.: |
91-20-30516100 |
|
Mobile No.: |
91-9764442274 [Mr. Nitin Utpat] |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate/ Head Office : |
Sava House, Off New Airport Road, Viman Nagar, Pune – 411014,
Maharashtra, India |
|
Tel. No.: |
91-20-30516100 |
|
Fax No.: |
91-20-30516161 |
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|
|
|
Warehouse : |
1st Floor, Old Property No. 1524, New 02/546, New Gat no.
1354, Wagholi, Taluka Haveli, Pune – 412207, Maharashtra, India |
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|
|
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Branch Office: |
Office #2, Lalwani Plaza, Viman Nagar,
Off New Airport Road, Sakore Nagar, Pune-411014, Maharashtra, India |
DIRECTORS
AS ON: 31.03.2018
|
Name : |
Suvarna Vinod Jadhav |
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|
Designation : |
Additional Director |
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|
Address : |
Plot No. 7, Windsor Estate, S.No. 17/2B, Near Bishop School, Vadgaon Sheri Pune-411014, Maharashtra, India |
|||||||||||||||||||||||||
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Date of Appointment : |
28.10.2016 |
|||||||||||||||||||||||||
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DIN No.: |
00022798 |
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|||||||||||||||||||||||||
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Name : |
Mr. Vishal Ramchandra Jadhav |
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Designation : |
Director |
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Address : |
C-1/101, Lunkad Queens Land, Viman Nagar, Pune – 411014, Maharashtra,
India |
|||||||||||||||||||||||||
|
Date of Birth/Age : |
31.01.1977 |
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Date of Appointment : |
19.02.2013 |
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PAN No.: |
AGMPJ5005A |
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DIN No. : |
05235986 |
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Name : |
Mrs. Renu Faujasingh Anjanikar |
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Designation : |
Whole time Director |
|||||||||||||||||||||||||
|
Address : |
Sukhwani Pride, Flat No. 11, B Wing Morwadi, Pimpri, Pune-411018, Maharashtra, India |
|||||||||||||||||||||||||
|
Date of Appointment : |
19.01.2015 |
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DIN No. : |
06897268 |
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|||||||||||||||||||||||||
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Name : |
Mr. Avinash Dinkar Kulkarni |
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|
Designation : |
Director |
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|
Address : |
Flat No-G-07, S.N-6/2/3B, Meghdoot Co-op Housing Society, Talajai Pathar, Opposite Casa 18, Dhankwadi, Pune-411043, Maharashtra, India |
|||||||||||||||||||||||||
|
Date of Appointment : |
24.03.2017 |
|||||||||||||||||||||||||
|
DIN No. : |
07738165 |
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|
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KEY EXECUTIVES
|
Name : |
Anusaya Jairam Vighne |
|
Designation : |
Company Secretary |
|
Address : |
Flat No.14, B-4, Ikaar Society, Paud Road, Kothrud,
Pune-411038, Maharashtra, India |
|
Date of Appointment : |
24.03.2017 |
|
PAN No.: |
AIUPV3125D |
|
|
|
|
Name : |
Mr. Nitin Utpat |
|
Designation : |
Logistics Department |
|
|
|
|
Name : |
Mr. Naresh |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Vinod Ramchandra Jadhav |
|
26671 |
|
Suvarna Jadhav |
|
01 |
|
Shanta Jadhav |
|
01 |
|
Vishal Jadhav |
|
01 |
|
Kavya Jadhav [Through Guardian Aditi Jadhav] |
|
01 |
|
Anagha Jadhav [Through Guardian Vinod Jadhav] |
|
414 |
|
Amey Jadhav [Through Guardian Vinod Jadhav] |
|
414 |
|
Vitra ITCL [India] Limited Trustee of winner Family Private Limited |
|
8413 |
|
|
|
|
|
Total |
|
35916 |
AS ON 12.05.2018
|
Names of Allottee |
|
No. of Shares |
|
Rubygold Portfolio Holdings [FZE] |
|
505 |
|
|
|
|
|
Total |
|
505 |
AS ON 03.04.2018
|
Names of Allottee |
|
No. of Shares |
|
Rubygold Portfolio Holdings [FZE] |
|
251 |
|
|
|
|
|
Total |
|
251 |
AS ON 08.03.2018
|
Names of Allottee |
|
No. of Shares |
|
Rubygold Portfolio Holdings [FZE] |
|
335 |
|
|
|
|
|
Total |
|
335 |
AS ON 13.02.2018
|
Names of Allottee |
|
No. of Shares |
|
Rubygold Portfolio Holdings [FZE] |
|
246 |
|
|
|
|
|
Total |
|
246 |
AS ON 20.01.2018
|
Names of Allottee |
|
No. of Shares |
|
Rubygold Portfolio Holdings [FZE] |
|
535 |
|
|
|
|
|
Total |
|
535 |
AS ON: 24.11.2016
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
74.26 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
2.31 |
|
Public/Other than promoters - Body Corporate |
23.43 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of wide range of Pharmaceuticals Products.
[Registered Activity] |
||||
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Products : |
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||||
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||||
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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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||||
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Imports : |
Not Divulged |
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||||
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Terms : |
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||||
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Selling : |
Not Divulged |
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||||
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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|
Bankers : [AS ON: 31.03.2016] |
· Deutsche Bank · IndusInd Bank · Axis Bank Limited · UCO Bank MID Corporate Branch, Mumbai - Pune Road, Pimpri, Pune-411018, Maharashrea, India · ICICI Bank Limited ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara-390007, Gujarat, India |
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Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Kirtane and Pandit LLP Chartered Accountants |
|
Address : |
5th Floor, Wing -A, Gopal House, S.No.127/1B/1, Opp. Harshal Hall,
Kothrud, Pune- 411029, Maharashtra, India |
|
Tel. No.: |
91-20-62295100/ 25433104 |
|
E-Mail : |
|
|
PAN No.: |
AAPFK1026M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Related Party : [AS ON: 31.03.2016] |
Vitra ITCL [India] Limited Trustee of winner Family Private Limited |
|
|
|
|
Subsidiary Company : [AS ON: 31.03.2016] |
· Sava Medica Limited [U74999PN2010PLC135514] · Regent Holding (FZE) |
|
|
|
|
Step Down Subsidiaries: [AS ON: 31.03.2016] |
· Winner Trading FZE [Formerly known as Westside Trading Fze] · Regent Trading FZE [Formerly known as Rubygold Holdings Fze] · Sava Healthcare [Singapore Pte Limited] · Devtech M2M Pte Limited · Savesta Lifesciences Pte Limited · Pacific Rim International Investment Corp [Liquidated on 31st December 2015] · SFT Portfolio Holdings Limited [Liquidated on 31st December 2015] · Alps Pharma Pte Limited · Maplepharm Holdings Inc [Liquidated on 09th December 2015] · Devtech M2M FZE · Sava Medica Singapore Pte. Limited · Sava Pharma LLC |
|
|
|
|
Other [or Associates]: [AS ON: 31.03.2016] |
· Devtech M2M Limited · Navigene Genetic Science Private Limited [Investment sold on 22.03.2016] |
CAPITAL STRUCTURE
AFTER: 24.11.2016
Authorised Capital : INR 164.000 Million
Issued, Subscribed & Paid-up Capital : INR 3.754
Million
AS ON: 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1140000 |
Equity Shares |
INR 100/- each |
INR 114.000 Million |
|
5000000 |
Preference Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 164.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35916 |
Equity Shares |
INR 100/- each |
INR 3.592
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3.592 |
3.082 |
3.000 |
|
(b) Reserves & Surplus |
751.506 |
652.600 |
559.089 |
|
(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) |
755.098 |
655.682 |
562.089 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
343.706 |
483.297 |
116.153 |
|
(b) Deferred tax liabilities (Net) |
34.906 |
13.447 |
0.000 |
|
(c)
Other long term liabilities |
12.486 |
13.253 |
0.000 |
|
(d)
long-term provisions |
0.308 |
0.321 |
0.000 |
|
Total
Non-current Liabilities (3) |
391.406 |
510.318 |
116.153 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
232.108 |
221.682 |
76.709 |
|
(b)
Trade payables |
116.936 |
69.408 |
17.929 |
|
(c)
Other current liabilities |
122.389 |
143.307 |
169.357 |
|
(d)
Short-term provisions |
8.329 |
2.986 |
21.135 |
|
Total
Current Liabilities (4) |
479.762 |
437.383 |
285.130 |
|
|
|
|
|
|
TOTAL |
1626.266 |
1603.383 |
963.372 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
585.301 |
569.415 |
32.121 |
|
(ii)
Intangible Assets |
102.212 |
109.041 |
0.273 |
|
(iii)
Capital work-in-progress |
109.416 |
6.069 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
97.552 |
103.777 |
429.668 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
1.943 |
|
(d) Long-term Loan
and Advances |
269.681 |
291.947 |
403.623 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1164.162 |
1080.249 |
867.628 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
15.187 |
17.339 |
0.100 |
|
(b)
Inventories |
167.594 |
130.973 |
8.445 |
|
(c)
Trade receivables |
160.969 |
136.544 |
15.946 |
|
(d)
Cash and cash equivalents |
19.549 |
42.923 |
8.155 |
|
(e)
Short-term loans and advances |
33.664 |
32.017 |
13.150 |
|
(f)
Other current assets |
65.141 |
163.338 |
49.948 |
|
Total
Current Assets |
462.104 |
523.134 |
95.744 |
|
|
|
|
|
|
TOTAL |
1626.266 |
1603.383 |
963.372 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
643.054 |
601.801 |
189.551 |
|
|
|
Other Income |
167.142 |
138.972 |
50.649 |
|
|
|
TOTAL |
810.196 |
740.773 |
240.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
283.809 |
296.478 |
0.000 |
|
|
|
Purchases of Stock-in-Trade |
16.683 |
7.127 |
86.202 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(18.409) |
(1.489) |
23.253 |
|
|
|
Employees benefits expense |
161.456 |
135.203 |
6.098 |
|
|
|
Other expenses |
218.863 |
155.668 |
21.776 |
|
|
|
R and D Expenses |
15.633 |
40.013 |
0.000 |
|
|
|
TOTAL |
678.035 |
633.000 |
137.329 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
132.161 |
107.773 |
102.871 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
40.867 |
37.447 |
11.929 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
91.294 |
70.326 |
90.942 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
75.982 |
65.973 |
5.558 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
15.312 |
4.353 |
85.384 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
24.360 |
15.423 |
22.792 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(9.048) |
(11.070) |
62.592 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export of goods on FOB Basis |
324.365 |
325.698 |
187.569 |
|
|
|
Sale of Services |
0.835 |
1.567 |
0.000 |
|
|
|
Dividend |
162.399 |
131.440 |
48.080 |
|
|
TOTAL EARNINGS |
487.599 |
458.705 |
235.649 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
6.837 |
4.783 |
0.000 |
|
|
|
Packaging Material |
47.659 |
58.230 |
0.000 |
|
|
TOTAL IMPORTS |
54.496 |
63.013 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
(252.00) |
(359.00) |
2086.00 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
28.540 |
28.125 |
12.088 |
|
|
|
|
|
|
Cash generated from operations |
51.698 |
(883.485) |
35.616 |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
91.37 |
82.82 |
30.71 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.99 |
4.41 |
11.89 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
142.04 |
83.44 |
75.92 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.79 |
0.82 |
12.18 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.17 |
0.16 |
3.18 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.52 |
0.59 |
0.43 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.80 |
1.12 |
0.36 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.64 |
0.67 |
0.51 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.06 |
1.04 |
0.06 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.23 |
2.88 |
8.62 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(1.41) |
(1.84) |
33.02 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(0.56) |
(0.69) |
6.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(1.20) |
(1.69) |
11.14 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.96 |
1.20 |
0.34 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.61 |
0.90 |
0.31 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.46 |
0.41 |
0.58 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
168.25 |
237.87 |
68.32 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.96 |
1.20 |
0.34 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
3.000 |
3.082 |
3.592 |
|
Reserves & Surplus |
559.089 |
652.600 |
751.506 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
562.089 |
655.682 |
755.098 |
|
|
|
|
|
|
long-term borrowings |
116.153 |
483.297 |
343.706 |
|
Short term borrowings |
76.709 |
221.682 |
232.108 |
|
Current Maturities of Long
term debt |
12.088 |
28.125 |
28.540 |
|
Total
borrowings |
204.950 |
733.104 |
604.354 |
|
Debt/Equity
ratio |
0.365 |
1.118 |
0.800 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
189.551 |
601.801 |
643.054 |
|
|
|
217.488 |
6.855 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
189.551 |
601.801 |
643.054 |
|
Profit/ (Loss) |
62.592 |
(11.070) |
(9.048) |
|
|
33.02% |
(1.84%) |
(1.41%) |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
3.592 |
67.642 |
|
(b) Reserves & Surplus |
|
1206.062 |
1019.663 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Minority Interest |
|
29.116 |
-27.572 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1238.770 |
1059.733 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
964.606 |
1517.293 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
16.826 |
|
(c)
Other long term liabilities |
|
12.486 |
35.274 |
|
(d)
long-term provisions |
|
2.063 |
0.321 |
|
Total
Non-current Liabilities (3) |
|
979.155 |
1569.714 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
232.108 |
221.682 |
|
(b)
Trade payables |
|
184.087 |
103.980 |
|
(c)
Other current liabilities |
|
113.259 |
33.095 |
|
(d)
Short-term provisions |
|
8.329 |
2.985 |
|
Total
Current Liabilities (4) |
|
537.783 |
361.742 |
|
|
|
|
|
|
TOTAL |
|
2755.708 |
2991.189 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
608.263 |
582.279 |
|
(ii)
Intangible Assets |
|
104.782 |
112.896 |
|
(iii)
Capital work-in-progress |
|
110.453 |
7.106 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
Goodwill |
|
340.935 |
0.000 |
|
(b) Non-current
Investments |
|
273.551 |
938.843 |
|
(c) Deferred tax assets
(net) |
|
56.963 |
95.248 |
|
(d) Long-term Loan
and Advances |
|
37.041 |
73.634 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
1531.988 |
1810.006 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
15.186 |
17.339 |
|
(b)
Inventories |
|
379.659 |
141.425 |
|
(c)
Trade receivables |
|
332.307 |
531.695 |
|
(d)
Cash and cash equivalents |
|
320.163 |
63.898 |
|
(e)
Short-term loans and advances |
|
72.202 |
198.550 |
|
(f)
Other current assets |
|
104.203 |
228.276 |
|
Total
Current Assets |
|
1223.720 |
1181.183 |
|
|
|
|
|
|
TOTAL |
|
2755.708 |
2991.189 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
2210.443 |
2265.987 |
|
|
|
Other Income |
|
808.008 |
255.147 |
|
|
|
TOTAL |
|
3018.451 |
2521.134 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
234.685 |
266.322 |
|
|
|
Purchases of Stock-in-Trade |
|
669.600 |
741.476 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
37.530 |
294.337 |
|
|
|
Employees benefits expense |
|
272.105 |
173.786 |
|
|
|
Other expenses |
|
617.816 |
623.029 |
|
|
|
Impairment Losses |
|
798.624 |
0.000 |
|
|
|
R and D Expenses |
|
19.633 |
39.976 |
|
|
|
TOTAL |
|
2649.993 |
2138.926 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
368.458 |
382.208 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
54.318 |
57.490 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
314.140 |
324.718 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
84.118 |
75.621 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
230.022 |
249.097 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
20.486 |
15.423 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
209.536 |
233.674 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
5834.00 |
76.00 |
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
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 |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G86681053 |
100174526 |
ICICI BANK LIMITED |
23/11/2017 |
- |
- |
1414000.0 |
ICICI BANK TOWER, NEAR CHAKLI CIRCLE,OLD PADRA ROADVADODARAGU390007IN |
|
2 |
B78442209 |
10434194 |
UCO BANK |
29/05/2013 |
- |
- |
110000000.0 |
MID CORPORATE BRANCHMUMBAI - PUNE ROAD, PIMPRIPUNEMH411018IN |
|
3 |
G14906622 |
10434201 |
UCO BANK |
29/05/2013 |
04/10/2016 |
- |
162000000.0 |
1ST FLOOR, UCO BANK BIDG, H.A. COLONY, KHARALWADIPIMPRIPUNEMH411018IN |
|
4 |
B67277459 |
10401098 |
STANDARD CHARTERED BANK |
30/01/2013 |
- |
- |
53700000.0 |
B-2, CERELERUM IT PARK, KUMAR CITYVADGAON SHERI, KALYANI NAGARPUNEMH411014IN |
|
5 |
C16560583 |
10342312 |
YES BANK LIMITED |
09/02/2012 |
- |
11/08/2014 |
10000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
|
6 |
C15666118 |
10324379 |
YES BANK LIMITED |
18/11/2011 |
05/01/2012 |
02/08/2014 |
140000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
|
7 |
B68199413 |
10269568 |
KOTAK MAHINDRA BANK LIMITED |
19/01/2011 |
15/02/2012 |
05/02/2013 |
50000000.0 |
36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN |
|
8 |
B12132601 |
10183670 |
KOTAK MAHINDRA BANK LIMITED |
26/09/2009 |
11/03/2010 |
09/05/2011 |
100000000.0 |
36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN |
|
9 |
B10921039 |
90095431 |
AXIS BANK LIMITED |
09/03/2005 |
07/07/2009 |
07/04/2011 |
38491000.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
1 |
G86681053 |
100174526 |
ICICI BANK LIMITED |
23/11/2017 |
- |
- |
1414000.0 |
ICICI BANK TOWER, NEAR CHAKLI CIRCLE,OLD PADRA ROADVADODARAGU390007IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loan from Directors |
19.785 |
210.226 |
|
Others |
39.007 |
0.000 |
|
From other than related parties |
109.200 |
114.200 |
|
|
|
|
|
Total |
167.992 |
324.426 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
Foreign Bank Guarantees [secured by equal amount fixed deposits] |
1.431 |
6.997 |
|
Letter of credit issued by import / Domestic of packaging material |
6.976 |
0.000 |
|
Case filed an employee against Company |
0.030 |
0.000 |
|
|
|
|
|
Total |
8.437 |
6.997 |
COMPANY OVERVIEW:
[AS ON: 31.03.2016]
Sava Healthcare Limited previously known as Anagha Pharma Limited was
incorporated in 2004. The registered office of the company is Surendranagar,
Gujarat. The company is engaged in the business of manufacturing and trading of
wide range of pharmaceuticals products.
AMALGAMATION OF
SAVA HEALTHCARE LIMITED (SHL) AND SAVA PRIVATE LIMITED (SPL) WITH THE COMPANY
(ANAGHA PHARMA PRIVATE LIMITED-APPL)
SHL and SPl ere engaged in the production of pharmaceutical drugs in the
state of Gujarat and Karnataka respectively. Both SHL and SPL were subsidiaries
of erstwhile Anagha Pharma Private Limited (APPL). On 6 April 2015, APPL was
converted from private limited company to public company (limited by shares).
Subsequently, on 11 May 2015, Anagha Pharma Limited (APL) is renamed as Sava
Healthcare Limited (SHL).
AMALGAMATION
SCHEME
The scheme of Amalgamation amongst Sava Healthcare Limited SHL), Sava
Private Limited (SPL) and the company (Anagha Pharma Private limited-APPL) was
sanctioned by the High court of Gujarat at Ahmedabad vide its order dated
October 17, 2014. The appointed date as per the scheme is April 1, 2012. The
Scheme of Amalgamation get effective on December 5, 2014 by filling of the
aforesaid order with the Registrar of Companies. The above scheme have been
given effect to in the financial statements for the year ended March 31, 2015.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
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 68.52 |
|
UK Pound |
1 |
INR 90.60 |
|
Euro |
1 |
INR 79.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
TEJ |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
RUP |
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.