|
|
|
MIRA INFORM REPORT
|
Report No. : |
495742 |
|
Report Date : |
07.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
ASTRAL STERITECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
911, G.I.D.C.,
Makarpura, Vadodara-390010, Gujarat |
|
Tel. No.: |
91-265-2638063/ 2636630 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
03.09.2012 |
|
|
|
|
Com. Reg. No.: |
04-071810 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 100.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100GJ2012PTC071810 |
|
|
|
|
IEC No.: |
0894004603 |
|
|
|
|
GST No.: |
24AAKCA8971F1ZG |
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|
|
|
TIN No.: |
24191604722 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCA8971F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Sterile Antibiotic Power Formulations.
[Registered Activity] |
|
|
|
|
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 3254200 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
was incorporated in the year 2012 and it is a trader, importer and exporter
of pharmaceuticals products. As per
financials of March 2017, the company has registered a growth of 5.35% in its
revenue as compared to its previous year’s revenue and has reported good
profit margin of 20.93% under review. Rating
takes into consideration the company’s healthy net worth base along with low
solvency indicators and good liquidity position. Rating
also takes into account the experienced promoters, established track record
of operations with presence in global markets, accredited manufacturing
facilities by USFDA and established relationship with leading pharmaceutical
companies. Further,
the company has reported a good Earnings Per Share of INR 33.55 against its
face value of INR 10. However,
rating strength is partially offset by high customer concentration risk,
foreign exchange rate fluctuations associated with imported raw materials,
regulatory risk inherent in the pharmaceutical industry and competition from
large sized established players in domestic and overseas formulation market. Payments
seems to be regular. In view
of aforesaid, the company can be considered good 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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 |
CARE |
|
Rating |
Long Term Rating=A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
01.08.2017 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating=A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
01.08.2017 |
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 07.03.2018.
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. Sahil |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-265-2638063 |
|
Date : |
05.03.2018 |
[91-265-2636630 is ringing]
LOCATIONS
|
Registered Office/ Factory : |
911, G.I.D.C., Makarpura,
Vadodara-390010, Gujarat, India |
|
Tel. No.: |
91-265-2638063/ 2636630 |
|
Fax No.: |
91-265-2632212 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Dushyant Raojibhai Patel |
||||||||||
|
Designation : |
Managing Director |
||||||||||
|
Address : |
11, Shantivan Society, Sussen Tarsali Road, Makarpura,
Vadodara-390010, Gujarat, India |
||||||||||
|
Date of Birth/Age : |
08.10.1957 |
||||||||||
|
Qualification : |
M.Pharm,PHD |
||||||||||
|
Date of Appointment : |
03.09.2012 |
||||||||||
|
PAN No.: |
AEKPP4960Q |
||||||||||
|
DIN No.: |
01267704 |
||||||||||
|
|||||||||||
|
|
|
||||||||||
|
Name : |
Mrs. Daksha Dushyant Patel |
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|
Designation : |
Director |
||||||||||
|
Address : |
11, Shantivan Society, Sussen Tarsali Road, Vadodara-390010,
Gujarat, India |
||||||||||
|
Date of Appointment : |
03.09.2012 |
||||||||||
|
DIN No.: |
01429436 |
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|||||||||||
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|
|
||||||||||
|
Name : |
Mrs. Trupti Bipinbhai Bhagat |
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|
Designation : |
Wholetime Director |
||||||||||
|
Address : |
C 13, Shreenath Park, B/H Jagruti Society, Harni Road,
Vadodara-390022, Gujarat, India |
||||||||||
|
Date of Birth/Age : |
09.08.1970 |
||||||||||
|
Qualification : |
B.Pharm |
||||||||||
|
Date of Appointment : |
03.09.2012 |
||||||||||
|
PAN No.: |
AFPPB7860P |
||||||||||
|
DIN No.: |
06377579 |
||||||||||
|
|
|
||||||||||
|
Name : |
Mr. Ketan Prabodhchandra Naik |
||||||||||
|
Designation : |
Wholetime Director |
||||||||||
|
Address : |
B/81, Pratham Enclave, Atladara, Baroda-390012, Gujarat, India |
||||||||||
|
Date of Birth/Age : |
25.10.1956 |
||||||||||
|
Qualification : |
M.pharm, M.B.A |
||||||||||
|
Date of Appointment : |
03.09.2012 |
||||||||||
|
PAN No.: |
AAXPN6437B |
||||||||||
|
DIN No.: |
06377586 |
||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Sahil |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 29.09.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Dushyantkumar Raojibhai Patel |
6700000 |
67.00 |
|
Dakshben Dushyantkumar Patel |
100000 |
1.00 |
|
Jay Dushyantkumar Patel |
2900000 |
29.00 |
|
Dhara Dushyantkumar Patel |
100000 |
1.00 |
|
Deval Dushyantkumar Pate |
100000 |
1.00 |
|
Ushaben Raojibhai Patel jointly with Jay Dushyantkumar Patel |
100000 |
1.00 |
|
|
|
|
|
Total |
10000000 |
100.00 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Sterile Antibiotic Power Formulations.
[Registered Activity] |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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||||
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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 : |
· Bank of Baroda Corporate Financial Services Branch, 1st Floor, Opposite. Petrol Pump, R.C.Dutt Road, Alkapuri, Vadodara - 390007, Gujarat, India · Kotak Mahindra Bank Limited |
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Facilities : |
|
|
|
|
|
Auditors : |
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|
Name : |
S A Patel and Company Chartered Accountants |
|
Address : |
422 Paradise Complex Sayajigunj, Vadodara, Gujarat, India |
|
PAN No.: |
ADFPP1273N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
Biolotus Inc |
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 |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
100.000 |
100.000 |
100.000 |
|
(b) Reserves and Surplus |
1039.000 |
703.462 |
391.777 |
|
(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) |
1139.000 |
803.462 |
491.777 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
195.421 |
|
(b) Deferred tax liabilities (Net) |
8.137 |
10.282 |
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) |
8.137 |
10.282 |
195.421 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
73.508 |
22.676 |
51.522 |
|
(b) Trade
payables |
327.244 |
127.190 |
170.377 |
|
(c) Other
current liabilities |
6.745 |
3.685 |
8.029 |
|
(d) Short-term
provisions |
36.284 |
6.449 |
18.009 |
|
Total Current
Liabilities (4) |
443.781 |
160.000 |
247.937 |
|
|
|
|
|
|
TOTAL |
1590.918 |
973.744 |
935.135 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
259.498 |
272.298 |
131.585 |
|
(ii)
Intangible Assets |
15.947 |
31.894 |
47.841 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
9.270 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
599.952 |
220.504 |
158.402 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.623 |
|
(d)
Long-term loans and advances |
74.911 |
75.006 |
75.356 |
|
(e) Other
Non-current assets |
8.711 |
4.409 |
76.998 |
|
Total Non-Current
Assets |
959.019 |
604.111 |
500.075 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
212.810 |
99.919 |
175.750 |
|
(c) Trade
receivables |
249.531 |
137.060 |
129.015 |
|
(d) Cash and
bank balances |
113.671 |
125.922 |
108.789 |
|
(e)
Short-term loans and advances |
46.771 |
3.404 |
4.345 |
|
(f) Other
current assets |
9.116 |
3.328 |
17.161 |
|
Total
Current Assets |
631.899 |
369.633 |
435.060 |
|
|
|
|
|
|
TOTAL |
1590.918 |
973.744 |
935.135 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1602.774 |
1521.415 |
1191.857 |
|
|
Other Income |
7.982 |
13.481 |
16.671 |
|
|
TOTAL |
1610.756 |
1534.896 |
1208.528 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
835.490 |
755.389 |
788.567 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(25.964) |
43.447 |
(45.617) |
|
|
Employee benefit expense |
99.674 |
78.236 |
55.687 |
|
|
CSR expenditure |
0.910 |
1.140 |
0.000 |
|
|
Other expenses |
99.762 |
115.692 |
106.382 |
|
|
TOTAL |
1009.872 |
993.904 |
905.019 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
600.884 |
540.992 |
303.509 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.835 |
1.595 |
6.150 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
599.049 |
539.397 |
297.359 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
67.963 |
57.445 |
44.423 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
531.086 |
481.952 |
252.936 |
|
|
|
|
|
|
|
Less |
TAX |
195.549 |
170.268 |
92.519 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
335.537 |
311.684 |
160.417 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
803.951 |
814.311 |
566.468 |
|
|
TOTAL EARNINGS |
803.951 |
814.311 |
566.468 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
236.218 |
300.135 |
285.166 |
|
|
Components and spare
parts |
20.283 |
26.810 |
28.999 |
|
|
TOTAL IMPORTS |
256.501 |
326.944 |
314.166 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
33.55 |
31.17 |
16.04 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
1.154 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
517.798 |
624.069 |
167.138 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
353.360 |
464.706 |
72.018 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
56.83
|
32.88 |
39.51 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.42
|
11.10 |
9.24 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
142.96
|
61.46 |
78.86 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.82
|
5.41 |
1.73 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
2.18
|
1.78 |
1.61 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.28
|
0.16 |
0.48 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.06
|
0.03 |
0.50 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.39
|
0.20 |
0.50 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.24
|
0.38 |
0.38 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
327.46
|
339.18 |
49.35 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
20.93
|
20.49 |
13.46 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
21.09
|
32.01 |
17.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
29.46
|
38.79 |
32.62 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.42
|
2.31 |
1.75 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.94
|
1.69 |
1.05 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.72
|
0.83 |
0.53 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.74
|
0.23 |
2.48 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.42
|
2.31 |
1.75 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
100.000 |
100.000 |
100.000 |
|
Reserves & Surplus |
391.777 |
703.462 |
1039.000 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
491.777 |
803.462 |
1139.000 |
|
|
|
|
|
|
long-term borrowings |
195.421 |
0.000 |
0.000 |
|
Short term borrowings |
51.522 |
22.676 |
73.508 |
|
Total borrowings |
246.943 |
22.676 |
73.508 |
|
Debt/Equity ratio |
0.502 |
0.028 |
0.065 |
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 |
1191.857 |
1521.415 |
1602.774 |
|
|
|
27.651 |
5.348 |
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 |
1191.857 |
1521.415 |
1602.774 |
|
Profit |
160.417 |
311.684 |
335.537 |
|
|
13.46% |
20.49% |
20.93% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
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 |
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G58928219 |
100129943 |
KOTAK MAHINDRA BANK LIMITED |
05/10/2017 |
- |
- |
200000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
2 |
G70087382 |
10421160 |
BANK OF BARODA |
03/09/2012 |
- |
04/12/2017 |
149700000.0 |
CORPORATE FINANCIAL SERVICES BRANCH1ST FLOOR,OPP. PETROL PUMP,R.C.DUTT ROAD, ALKAPURIVADODARAGJ390007IN |
|
3 |
G70087671 |
10421162 |
BANK OF BARODA |
03/09/2012 |
- |
04/12/2017 |
149700000.0 |
CORPORATE FINANCIAL SERVICES BRANCH1ST FLOOR,OPP. PETROL PUMP,R.C.DUTT ROAD, ALKAPURIVADODARAGJ390007IN |
NATURE OF OPERATION
ASTRAL STERITECH PRIVATE LIMITED was incorporated on September 02 06, 2012. It is a private limited company domiciled in India and incorporated under the provisions of the companies Act 1956. The company is engaged in the business of manufacturing of sterile antibiotic Power formulations.
REVIEW OF BUSINESS OPERATIONS AND FUTURE
PROSPECTS
During the year under consideration, the Company has achieved turnover of INR 1602.800 Million as against INR 1521.400 Million of previous year, which was as per the expectation of the Directors also. The Company has generated net profit of INR 335.500 Million during the year as compared to INR 311.700 Million of previous year.
During the current year, the Company is anticipating a growth by 20% as at present it has goods numbers of orders in hand and has sufficient fund for the same. Even over a year of time the company has also increased the staff members.
STATE OF THE COMPANYS
AFFAIRS
Astral having two independent sterile antibiotic powder injectable formulations-one for Cephalosporin range and the other for Semisynthetic Penicillin range manufactured at 911 G.I.D.C., Makarpura, Vadodara 390010. The Company is a leading Contract Manufacturer of Sterile Antibiotic Powder Formulations and associated with various MNCs such as Sagent Pharmaceuticals Inc., Pfizer Limited, Sandoz (Novartis), UNILAB (Philippines) and leading Indian pharmaceutical companies like Lupin Limited, Zydus Cadila, Alembic Pharmaceuticals Limited, for
domestic and international market segments a well established client base with supply history averaging 5 years.
Astral has been audited and approved by prestigious international regulatory authorities e.g. US FDA (CDER), Health Products and Food Branch Inspectorate (HPFBI) Health Canada, TGA - Australia, ANVISA, Brazil, Medicine Control Council South Africa, National Drug Authority, Uganda, Ministry of Health and Family National Medicines Agency, Romania) and many more.
ASTRAL HAS DELIVERED A STRONG TRACK RECORD
OF GROWTH, QUALITY AND PROFITABILITY:
Revenues and EBITDA are expected to grow at CAGR 32% and 53% from FY15 to FY18 primarily driven by expansion of presence in the US and South East Asian market Consistently delivered high return on capital of 40%+ in FY14, FY15 & FY17 and 62% in FY16 Highest sales turnover in the industry at 6.8x gross assets, indicating efficient operations Advanced facilities with 38 successful audits over the past 5 years implying high focus on quality USFDA has audited the facility 3 times in the year 2010, 2012 and 2015 Has dossier development capabilities, with 75+ dossiers developed across countries in North America, India and SE Asia.
Has been independently developing 10+ ANDAs for the US market since 2016 to leverage in-house dossier development capabilities.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Bank Guarantees issued by bank on behalf of Company for which company has issued counter guarantee |
1.500 |
1.500 |
|
Liabilities disputed-Appeal filed with respect to Income tax on account of disallowance/Addition for A.Y 2008-09 ,A.Y 2009-10, A.Y 2011-12 & A.Y2012-13 |
9.890 |
0.000 |
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
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 64.99 |
|
UK Pound |
1 |
INR 89.91 |
|
Euro |
1 |
INR 80.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
IND |
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.