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MIRA INFORM REPORT
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Report No. : |
495688 |
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Report Date : |
06.03.2018 |
IDENTIFICATION DETAILS
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Name : |
SAMRAT PHARMACHEM LIMITED (w.e.f. 24.07.1992) |
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Formerly Known
As : |
SAMRAT PHARMACHEM PRIVATE LIMITED |
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Registered
Office : |
Plot No. A2/3445, GIDC, Phase - 4, Ankleshwar – 393002, Gujarat |
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Tel. No.: |
91-2646-220774 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of Incorporation
: |
16.06.1992 |
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Com. Reg. No.: |
04-017820 |
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Capital
Investment / Paid-up Capital : |
INR 30.897 Million |
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CIN No.: [Company Identification
No.] |
L24230GJ1992PLC017820 |
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IEC No.: [Import-Export Code No.] |
0392065622 |
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GSTN : [Goods & Service Tax
Registration No.] |
24AAECS0806M1ZF |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAECS0806M |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer and Exporter of Pharmaceutical Chemicals. (Registered
activity) |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1992 and is engaged in manufacturing and exporting of pharmaceutical chemicals. For the financial year ended 2017, the company has achieved 14.89% growth in its revenue as compared to the previous year and has gained average net profit margin of 2.20%. The company’s satisfactory financial profile is reflected by adequate networth base along with low debt balance and comfortable liquidity position. The company has its share price trading at around INR 147.85 on BSE as on March 1, 2018 as against the Face Value (FV) of INR 10. Rating also derives strength from company’s established track record of business operations and promoters extensive industry experience. However, rating strength is partially offset by vulnerability of its operating margins to volatility in raw material prices and working capital intensive operations. Business is active. Payment seems to be usually correct. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
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
31-03-2016.
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 06.03.2018.
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 DENIED
MANAGEMENT NON-COOPERATIVE (Tel No.: 91-2646-220774)
LOCATIONS
|
Registered Office/ Factory : |
Plot No. A2/3445, GIDC, Phase-4, Ankleshwar – 393002, Gujarat, India |
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Tel. No.: |
91-2646-220774 |
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Fax No.: |
91-2646-251291 |
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E-Mail : |
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Website : |
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Corporate Office : |
701/702, Business Square, M.A. Road, Andheri (West), Mumbai –
400058, Maharashtra, India |
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Tel. No.: |
91-22-26701050 / 1 / 2 |
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Fax No.: |
91-22-26701053 |
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E-Mail : |
DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Samir Harsukhrai Kothary |
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Designation : |
Director |
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Address : |
B/45, Roop Darshan, Juhu Lane, Andheri (West), Mumbai – 400058,
Maharashtra, India |
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Date of Birth/Age : |
10.10.1962 |
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Qualification : |
B. SC, DBM |
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Date of Appointment : |
30.07.2003 |
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DIN No.: |
00216603 |
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Name : |
Mr. Lalit Damodar Mehta |
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Designation : |
Chairman and Managing Director |
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Address : |
B/74, Roop Darshan, Juhu Lane, Andheri (West), Mumbai – 400058,
Maharashtra, India |
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Date of Birth/Age : |
08.08.1936 |
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Qualification : |
B. SC , LLB |
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Date of Appointment : |
16.06.1992 |
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PAN No.: |
AABPM9691E |
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DIN No.: |
00216681 |
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Name : |
Mr. Rajesh Lalit Mehta |
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Designation : |
Whole-time Director |
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Address : |
B/74, Roop Darshan, Juhu Lane, Andheri (West), Mumbai – 400058,
Maharashtra, India |
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Date of Birth/Age : |
25.06.1964 |
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Qualification : |
B.Com, ACA |
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Date of Appointment : |
01.04.2008 |
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PAN No.: |
AABPM9692H |
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DIN No.: |
00216731 |
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Name : |
Mr. Mahendra Indulal Pipalia |
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Designation : |
Director |
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Address : |
A/15, Shatdal, Azad Lane, S.V. Road, Andheri (West), Mumbai – 400058,
Maharashtra, India |
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Date of Birth/Age : |
09.11.1963 |
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Qualification : |
B.Com, ACA |
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Date of Appointment : |
17.03.2003 |
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DIN No.: |
00216959 |
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Name : |
Ms. Renu Dharod |
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Designation : |
Director |
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Address : |
503, Arunodaya Co-Operative Housing Society, Juhu Cross Lane, Andheri (West), Mumbai, 400058, Maharashtra, India |
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Date of Birth/Age : |
03.03.1964 |
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Qualification : |
B.A DBM, LLB |
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Date of Appointment : |
26.09.2015 |
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DIN No.: |
07063088 |
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Name : |
Mr. Megh Rajesh Mehta |
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Designation : |
Whole-time Director |
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Address : |
B/74, Roop Darshan, Juhu Lane, Andheri (West), Mumbai – 400058,
Maharashtra, India |
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Date of Appointment : |
01.10.2015 |
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DIN No.: |
07287394 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Lalit Mehta |
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Designation : |
Chief Financial Officer |
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Address : |
B/74, Roop Darshan, Juhu Lane, Andheri (West), Mumbai – 400058,
Maharashtra, India |
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Date of Birth/Age : |
25.06.1964 |
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Qualification : |
B.Com, ACA |
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Date of Appointment : |
01.04.2014 |
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PAN No.: |
AABPM9692H |
SHAREHOLDING PATTERN
As on December 2017
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957) As a % |
|
|
(A) Promoter & Promoter Group |
1492853 |
48.32 |
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(B) Public |
1596847 |
51.68 |
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Grand Total |
3089700 |
100.00 |
Statement showing shareholding pattern of the Promoter
and Promoter Group
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957) As a % |
|
|
A1) Indian |
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||
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Individuals/Hindu
undivided Family |
1492853 |
48.32 |
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Lalit Damodar Mehta |
423376 |
13.70 |
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Rajesh Lalit Mehta |
379542 |
12.28 |
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Premal Lalit Mehta |
174281 |
5.64 |
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Kaushal Lalit Mehta |
150586 |
4.87 |
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Jaya Lalit Mehta |
119300 |
3.86 |
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Rupal Rajesh Mehta |
73300 |
2.37 |
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Kalpana Premal Mehta |
69300 |
2.24 |
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Falguni Kaushal Mehta |
66400 |
2.15 |
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Megh Rajesh Mehta |
36768 |
1.19 |
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Sub Total A1 |
1492853 |
48.32 |
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A2) Foreign |
0.00 |
||
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A=A1+A2 |
1492853 |
48.32 |
Statement showing shareholding pattern of the Public
shareholder
|
Category & Name of the Shareholders |
Total no. shares held |
Shareholding % calculated as per SCRR 1957 As a % |
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B1) Institutions |
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Foreign Portfolio Investors |
100000 |
3.24 |
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Lloyds Securities Overseas Limited |
100000 |
3.24 |
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Sub Total B1 |
100000 |
3.24 |
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B2) Central Government/ State Government(s)/ President of India |
0.00 |
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B3) Non-Institutions |
0.00 |
||
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Individual share capital upto INR 0.200 Million |
909258 |
29.43 |
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Individual share capital in excess of
INR 0.200 Million |
363701 |
11.77 |
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Mala R Bhavnani |
160701 |
5.20 |
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Sharad Kanayalal Shah |
50000 |
1.62 |
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Subramanian P |
128000 |
4.14 |
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Any Other (specify) |
223888 |
7.25 |
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HUF |
25122 |
0.81 |
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NRI – Non- Repat |
2885 |
0.09 |
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NRI – Repat |
62686 |
2.03 |
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Clearing Members |
39695 |
1.28 |
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Anshul Specialty Molecules |
41246 |
1.33 |
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Sub Total B3 |
1496847 |
48.45 |
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B=B1+B2+B3 |
1596847 |
51.68 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Importers and Exporter of Pharmaceutical Chemicals.
(Registered activity) |
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Product/Services: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Vadodara – 390015, Gujarat, India ·
HDFC Bank, Jamuna Apartment, S. V. Road, Andheri
(West), Mumbai – 400 058, Maharashtra, India · State Bank of India, Rahul Apartments, S. V. Road, Andheri (West), Mumbai - 400 058, Maharashtra, India ·
UCO Bank, FCC Branch, D. N. Road, Fort, Mumbai
- 400 001, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
Shah, Shah and Shah Chartered Accountants |
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Address : |
502, Damji Shamji Trade Centre, Vidyavihar (West), Mumbai – 400086,
Maharashtra, India |
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Tel. No.: |
91-22-25100861 / 25109990 |
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Fax No.: |
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Auditors : |
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Name : |
Shah and Savla LLP Chartered Accountants |
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Address : |
Ghatkopar, Maharashtra, India |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3089700 |
Equity Shares |
INR 10/- each |
INR 30.897
Million |
|
|
|
|
|
Disclosure pursuant to Note no. 6(A)(f) of Part I of Schedule III to the
Companies Act 2013
|
Particulars
- Equity Shares |
31
March 2017 |
|
|
|
Number |
INR
in Million |
|
Shares
outstanding at the beginning of the year |
3089700 |
30.897 |
|
Shares
Issued during the year |
-- |
-- |
|
Shares
bought back during the year |
-- |
-- |
|
Shares
outstanding at the end of the year |
3089700 |
30.897 |
Disclosure
pursuant to Note no. 6(A)(f) of Part I of Schedule III to the Companies Act
2013
NIL
Equity Shares (NIL Previous year) are held by None, the holding company.
Disclosure pursuant
to Note no. 6(A)(g) of Part I of Schedule III to the Companies Act 2013 (more
than 5%)
|
Name of Shareholder |
31 March 2017 |
|
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|
No. of Shares held |
% of Holding |
|
Lalit Mehta |
423376 |
13.70% |
|
Rajesh Mehta |
379542 |
12.28% |
|
Premal Mehta |
174281 |
5.64% |
|
Mala Bhavnani |
160701 |
5.20% |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
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|
I.
EQUITY AND LIABILITIES |
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|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
30.897 |
30.897 |
30.897 |
|
(b) Reserves &
Surplus |
122.320 |
106.664 |
103.651 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
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|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
153.217 |
137.561 |
134.548 |
|
|
|
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|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
11.673 |
15.322 |
2.569 |
|
(b) Deferred tax
liabilities (Net) |
3.036 |
4.230 |
4.256 |
|
(c) Other long term
liabilities |
1.963 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
16.672 |
19.552 |
6.825 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
54.209 |
37.031 |
26.053 |
|
(b) Trade payables |
74.083 |
160.853 |
89.343 |
|
(c) Other current
liabilities |
8.553 |
5.745 |
5.794 |
|
(d) Short-term provisions |
5.849 |
1.004 |
0.000 |
|
Total Current Liabilities
(4) |
142.694 |
204.633 |
121.190 |
|
|
|
|
|
|
TOTAL |
312.583 |
361.746 |
262.563 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
69.688 |
72.248 |
72.022 |
|
(ii) Intangible Assets |
0.458 |
0.576 |
0.191 |
|
(iii) Capital
work-in-progress |
1.994 |
0.000 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.660 |
1.188 |
1.310 |
|
(e) Other Non-current
assets |
4.058 |
4.057 |
4.196 |
|
Total Non-Current Assets |
77.858 |
78.069 |
77.719 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.010 |
20.010 |
0.000 |
|
(b) Inventories |
70.214 |
56.782 |
44.723 |
|
(c) Trade receivables |
118.422 |
161.047 |
96.232 |
|
(d) Cash and cash
equivalents |
24.580 |
34.960 |
39.392 |
|
(e) Short-term loans and
advances |
0.228 |
0.764 |
0.258 |
|
(f) Other current assets |
21.271 |
10.114 |
4.239 |
|
Total Current Assets |
234.725 |
283.677 |
184.844 |
|
|
|
|
|
|
TOTAL |
312.583 |
361.746 |
262.563 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
710.650 |
618.552 |
473.944 |
|
|
Other Income |
1.473 |
2.066 |
3.477 |
|
|
TOTAL |
712.123 |
620.618 |
477.421 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
607.457 |
506.547 |
384.960 |
|
|
Purchases of
Stock-in-Trade |
21.460 |
58.012 |
21.673 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2.753) |
(1.534) |
20.458 |
|
|
Employees benefits
expense |
11.213 |
9.778 |
9.117 |
|
|
Exceptional Item |
0.000 |
0.042 |
0.156 |
|
|
Other expenses |
36.092 |
33.766 |
26.035 |
|
|
TOTAL |
673.469 |
606.611 |
462.399 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
38.654 |
14.007 |
15.022 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
6.773 |
5.086 |
5.855 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
31.881 |
8.921 |
9.167 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.948 |
4.434 |
4.376 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
24.933 |
4.487 |
4.791 |
|
|
|
|
|
|
|
Less |
TAX |
9.277 |
1.474 |
1.631 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
15.656 |
3.013 |
3.160 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
106.664 |
103.651 |
100.491 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
122.320 |
106.664 |
103.651 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
103.448 |
117.983 |
85.538 |
|
|
TOTAL EARNINGS |
103.448 |
117.983 |
85.538 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
588.104 |
315.936 |
315.936 |
|
|
TOTAL IMPORTS |
588.104 |
315.936 |
315.936 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
5.07 |
0.97 |
1.02 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
3.646 |
3.236 |
3.993 |
|
Cash generated from operations |
(26.432) |
2.069 |
2.470 |
|
Net cash flow from operating activity |
(38.737) |
(3.607) |
(5.576) |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net sales |
202.190 |
207.740 |
251.220 |
|
Total Expenditure |
189.270 |
198.460 |
227.690 |
|
PBIDT (Excluding Other Income) |
12.920 |
9.280 |
23.530 |
|
Other income |
0.160 |
0.240 |
NA |
|
Operating Profit |
13.080 |
9.520 |
23.530 |
|
Interest |
1.950 |
1.940 |
2.270 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
11.130 |
7.580 |
21.260 |
|
Depreciation |
1.030 |
1.110 |
1.090 |
|
Profit Before Tax |
10.100 |
6.470 |
20.170 |
|
Tax |
4.130 |
1.370 |
6.090 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit after tax |
5.970 |
5.100 |
14.080 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
5.970 |
5.100 |
14.080 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
60.82 |
95.03 |
74.11 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.00 |
3.84 |
4.93 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
43.00 |
104.00 |
80.20 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.55 |
0.25 |
0.34 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.54 |
0.19 |
0.21 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.51 |
0.62 |
0.49 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.45 |
0.40 |
0.24 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.93 |
1.49 |
0.90 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.47 |
0.53 |
0.54 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.71 |
2.75 |
2.57 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.20 |
0.49 |
0.67 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.01 |
0.83 |
1.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
10.22 |
2.19 |
2.35 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.64 |
1.39 |
1.53 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.15 |
1.11 |
1.16 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.49 |
0.38 |
0.51 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.25 |
1.80 |
1.06 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.64 |
1.39 |
1.53 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 147.85/- |
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 |
30.897 |
30.897 |
30.897 |
|
Reserves & Surplus |
103.651 |
106.664 |
122.320 |
|
Net worth |
134.548 |
137.561 |
153.217 |
|
|
|
|
|
|
Long-term borrowings |
2.569 |
15.322 |
11.673 |
|
Short term borrowings |
26.053 |
37.031 |
54.209 |
|
Current Maturities of
Long term debt |
3.993 |
3.236 |
3.646 |
|
Total borrowings |
32.615 |
55.589 |
69.528 |
|
Debt/Equity ratio |
0.242 |
0.404 |
0.454 |
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 |
473.944 |
618.552 |
710.650 |
|
|
|
30.512 |
14.889 |
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 |
473.944 |
618.552 |
710.650 |
|
Profit / (Loss) |
3.160 |
3.013 |
15.656 |
|
|
0.67% |
0.49% |
2.20% |
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 |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS
The company has performed
reasonably well during the year. In a highly competitive business environment,
the Company achieved a turnover of INR 710.650 Million as against INR 618.551
Million achieved last year – an increase of around 14.89%. Production of 514.07
tons of pharmaceutical chemicals was achieved during the year.
MANAGEMENT DISCUSSION
AND ANALYSIS
INDUSTRY STRUCTURE AND
DEVELOPMENTS
The Company is a producer
of pharma ceutical chemicals. The intermediates produced are used in pharmaceutical
and chemical industries. Your Company is amongst the manufacturers who produce
for local and international needs of the pharmaceuticals and chemicals
industry. The pharmaceutical and chemical industry is growing at a rapid pace
every year. This results into growth of the support or intermediate industry
like us.
OUTLOOK
By 2020 the pharmaceutical
market is anticipated to be more than double to USD 1. 3 trillion, with the E7
countries - Brazil, China, India, Indonesia, Mexico, Russia and Turkey -
Accounting around for one fifth of the global pharmaceutical sales. Further,
incidence of chronic conditions in the developing world will incresingly
resemble the developed world.
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED DECEMBER
2017
(INR in Million)
|
Particulars |
Quarter Ended |
Quarter Ended |
Year to Date
Ended |
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
INCOME FROM OPERATIONS |
|
|
|
|
Net Sales |
250.812 |
207.740 |
660.728 |
|
Other Operating Income |
0.408 |
0.237 |
0.822 |
|
Total
Income from Operations |
251.220 |
207.977 |
661.550 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
207.246 |
175.018 |
565.744 |
|
Purchase of Stock in Trade |
6.598 |
6.598 |
13.197 |
|
Changes in inventories of finished goods and
work-in-progress |
1.191 |
4.912 |
(0.112) |
|
Employee benefits expense |
2.834 |
3.311 |
8.838 |
|
Interest |
2.273 |
1.936 |
6.157 |
|
Depreciation and Amortization expenses |
1.092 |
1.108 |
3.233 |
|
Other Expenditure |
9.818 |
8.628 |
27.763 |
|
Total
Expenses |
231.052 |
201.511 |
45.991 |
|
Profit
/ (Loss) from ordinary activities before Exceptional items |
20.168 |
6.466 |
36.730 |
|
Exceptional items |
0.000 |
0.000 |
0.000 |
|
Profit
/ (Loss) before Tax |
20.168 |
6.466 |
36.730 |
|
Tax Expense |
(6.091) |
(1.365) |
(11.588) |
|
Profit
/ (Loss) after Tax |
14.077 |
5.101 |
25.142 |
|
Paid-up Equity Share Capital (Face value INR 10/- per
share) |
30.897 |
30.897 |
30.897 |
|
Reserves (excluding Revaluation Reserve) |
-- |
-- |
-- |
|
Earnings
per Share (EPS) - INR |
|
|
|
|
Basic |
4.56 |
1.65 |
8.14 |
|
Diluted |
4.56 |
1.65 |
8.14 |
Notes:
1. The above results were reviewed by tire Audit Committee of the Board of Directors.
2. The Statutory Auditors have carried out a limited review of the results for
the quarter ended 31 December, 2017.
3. The above results have been taken on record by the Board of Directors at its
Meeting held on Tuesday, 13 February' 2018 at the Corporate Office of the
Company.
4. The Company has adopted Indian Accounting Standards ('Ind AS') notified by
the Ministry of Corporate Affairs with effect from 01 April 2017 (with a
transition date of 01 April 2016). Accordingly the financial results for the
quarter ended 31 December 2017 have been prepared in accordance with Companies
(Indian Accounting Standard) Rules, 2015 as prescribed under section 133 of the
Companies Act, 2013.
5. The Ind AS compliant financial results pertaining to the quarter ended 31
December 2016 have not been subjected to any limited review or audit. However,
the management has exercised necessary due diligence to ensure such financial
results provide a true and fair view of the results.
6. Reconciliation between standalone financial results reported under erstwhile
Indian GAAP and Ind AS For table, kindly refer Corporate Announcements on
www.bseindia.com.
7. There is a possibility that financial results for quarter and year to date
may require adjustment before constituting the final IND-AS financial
statements as at end for the year ending March 31, 2018, due to changes in
financial reporting requirements arising from new or revised standards or
interpretation issued by MCA / Appropriate Authority or changes in the use of
one or more optional exemptions from full retrospective application of certain
IND-AS as permitted under IND-AS-101.
8. The Company manufactures pharmaceutical chemicals, which is a single
business segment.
9. Figures for the previous period have been regrouped / reclassified, wherever
necessary.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B27635127 |
10322529 |
ICICI BANK LIMITED |
05/12/2011 |
- |
- |
8000000.0 |
Landmarkrace Cource Circle, Alkapuri, Vadodara – 390015, Gujarat, India |
|
2 |
B23633027 |
10313445 |
ICICI BANK LIMITED |
21/10/2011 |
- |
- |
20000000.0 |
Landmarkrace Cource Circle, Alkapuri, Vadodara – 390015, Gujarat, India |
|
3 |
C81989196 |
10312791 |
HDFC BANK LIMITED |
19/10/2011 |
17/12/2015 |
- |
32000000.0 |
HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India |
|
4 |
B62528450 |
10101754 |
ICICI BANK LIMITED |
22/12/2007 |
29/10/2012 |
- |
195000000.0 |
Landmarkrace Cource Circle, Alkapuri, Vadodara – 390015, Gujarat, India |
|
5 |
G04917829 |
80001467 |
ICICI BANK LIMITED |
02/11/2005 |
11/05/2016 |
- |
170000000.0 |
Landmarkrace Cource Circle, Alkapuri, Vadodara – 390015, Gujarat, India |
|
6 |
B88808233 |
10286733 |
Citi Bank N.A. |
03/05/2011 |
- |
24/10/2013 |
40000000.0 |
Trent House, 2nd Floor, G Block, Plot No.C 60, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
7 |
A08042707 |
90109012 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
25/05/1993 |
15/06/2005 |
18/12/2006 |
33500000.0 |
Raja Shopping Center, New Nagardas Road, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
8 |
A08043200 |
90110382 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
14/12/2001 |
- |
18/12/2006 |
70000000.0 |
Andheri East Branch, New Nagardas Road, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
9 |
A00642603 |
90109015 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
08/06/1993 |
08/11/2004 |
15/04/2006 |
0.0 |
Raja Shopping Center, New Nagardas Road, Andheri (East), Mumbai – 400069, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
(1)
Claims against the company not acknowledged as debt a.
Income tax assessment dues for AY 2011-12 under appeal
pending before first appellate authority |
3.580 |
3.580 |
|
b.
Contract labour claim |
0.150 |
0.150 |
FIXED ASSETS
· Land
· Factory Building
· Office Premises
· Plant and Machinery
· Office Equipment
· Computer System
· Furniture and Fixtures
·
Vehicles
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 65.05 |
|
UK Pound |
1 |
INR 80.03 |
|
Euro |
1 |
INR 89.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
GEET |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.