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|
MIRA INFORM REPORT
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Report No. : |
494255 |
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Report Date : |
07.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SRICHAITANYA CHLORIDES PRIVATE LIMITED |
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Formerly Known
As : |
SRICHAITANYA CHLORIDES LIMITED (w.e.f 16.01.2004) NETMATRIX SRICHAITANYA CHLORIDES LIMITED (w.e.f 15.04.2003) NETMATRIX SRICHAITANYA CHLORIDES PRIVATE LIMITED (w.e.f 10.04.2003) SRI CHAITANYA CHLORIDES PRIVATE LIMITED |
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Registered
Office : |
Plot No.31, 32, 39 and 40, Phase-II,
IDA Pashamylaram, Patancheru, Sangareddy, Hyderabad
- 502307, Telangana |
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Tel. No.: |
91-8455- 244489 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
19.05.1999 |
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Com. Reg. No.: |
36-031736 |
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Capital
Investment / Paid-up Capital : |
INR 30.975 Million |
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CIN No.: [Company Identification
No.] |
U24110TG1999PTC031736 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAECS3574Q |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
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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 |
|
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 is an established company incorporated in the year 1999 having
satisfactory track records. Management of the company has not filed its financial with the
government department for the year 2017. As per available financials of 2016, revenue and profit of the company
has declined. However, the company possesses sound financial profile marked by sound
networth base along with comfortable debt level and favourable gap between
trade payables to its trade receivables. The company also derives strength from its long standing track record
of business operations. Trade relations are reported as fair. Business is active. Payment
terms are seems to be usually 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long term ratting = BB+ |
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Rating Explanation |
Moderate risk of default |
|
Date |
24.01.2018 |
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
31-03-2016.
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 DENIED BY
|
Name : |
Mr. Karan |
|
Designation : |
Finance Department |
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Contact No.: |
91-8455-241148 |
|
Date : |
28.02.2018 |
Management non-cooperative (Tel No.: 91-8455-244489 / 285370)
LOCATIONS
|
Registered Office : |
Plot No.31, 32, 39 and 40, Phase-II,
IDA Pashamylaram, Patancheru, Sangareddy, Hyderabad
- 502307, Telangana, India |
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Tel. No.: |
91-8455- 244489 / 241148 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
DIRECTORS
As on 2018
|
Name : |
Mr. Sri Ramakrishna Durga Prasad Partiwadi |
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Designation : |
Director |
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Address : |
23-39/1, Jyothi Nagar, Ramachandra Puram, Patancheru, Hyderabad -500032, Telangana, India |
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Date of Birth/Age : |
25.03.1956 |
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Date of Appointment : |
19.05.2009 |
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DIN No.: |
00088501 |
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Other Directorship:
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Name : |
Mr. Khairtabad Satyanarayana Reddy |
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Designation : |
Director |
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Address : |
No.25-35/ 18, R.C. Puram Medak, Hyderabad -502032, Telangana, India |
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Date of Birth/Age : |
04.11.1963 |
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Date of Appointment : |
01.04.2000 |
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DIN No.: |
01665330 |
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Other Directorship:
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Name : |
Mr. Chinnamail Satyanarayana Reddy |
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Designation : |
Director |
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Address : |
Srinagar Colony, Plot No.2, Opposite Sau Binry Rice Mil Bhel Depot Road, Rc Puram, Hyderabad - 502032, Telangana, India |
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Date of Birth/Age : |
12.08.1965 |
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Date of Appointment : |
19.05.1999 |
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DIN No.: |
01667950 |
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Other Directorship:
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Name : |
Mr. Pratiwada Roja Rani |
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Designation : |
Director |
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Address : |
23-39/1, Jyothi Nagar, II Lane, Ramachandrapuram Hyderabad- 502032, Telangana, India |
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Date of Birth/Age : |
16.05.1963 |
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Date of Appointment : |
01.04.2000 |
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DIN No.: |
03139096 |
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Name : |
Mr. Jaymalhar Shamrao Mhatre |
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Designation : |
Director |
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Address : |
61 Cts 206-2061, Skylark CHS Limited Gundavali Village, Azad Road, Andheri (East), Mumbai- 400069, Maharashtra, India |
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Date of Birth/Age : |
25.09.1957 |
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Date of Appointment : |
01.04.2000 |
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DIN No.: |
03299991 |
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KEY EXECUTIVES
|
Name : |
Mr. Karan |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
As on 31.03.2016
|
Names of Shareholders |
No. of Shares |
|
|
|
|
Pratiwadi Sri Ramakrishna Durga |
838970 |
|
Chinamile Satyanarayana Reddy |
100 |
|
Chinamile Anji Reddy |
124980 |
|
K.Uma Jyothi |
114985 |
|
Jaymalhar Shamrao Mhatre |
159000 |
|
S.R.Drugs and Intermediates Private Limited, India |
1079845 |
|
Vala Giri Raju |
2500 |
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G.Paddaiah |
12500 |
|
A.Subba Rao |
4800 |
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Gaddam.Nageswara Rao |
9700 |
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G.Nancharaiah |
9000 |
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J.Nageswara Rao |
25000 |
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K.Mastan Rao |
110000 |
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Pratiwada Rojarani |
87500 |
|
L.Prathap Reddy |
15000 |
|
K.Rajan |
25000 |
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G.Narayana Reddy |
237140 |
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B.Venkateswara Rao |
9000 |
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B.Madhava Rao |
9000 |
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G.Naga Malleshwar Rao |
4500 |
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G Venkateshwar Rao |
4500 |
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G.Gantaiah |
4500 |
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Katragadda Lavanya |
130000 |
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Katragadda Lavanya |
30000 |
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Dulip Chand Mehta |
50000 |
|
Total |
3097520 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
47.48 |
|
Promoters (Body corporate) |
34.86 |
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Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
17.66 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
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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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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 : |
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Facilities : |
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Auditors : |
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|
Name : |
K. Nagaraju and Associates Chartered Accountants |
|
Address : |
H. No.1-8-197, Chikkadpalli, Hyderabad – 500020, Telangana, India |
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Tel. No.: |
91-40-27667878 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AANFK1375R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises over
which key management personnel or their relatives exercise significant
influence: (As on 2016) |
|
CAPITAL STRUCTURE
As on 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
INR 10/- each |
INR 40.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3097520 |
Equity Shares |
INR 10/- each |
INR 30.975 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
30.975 |
30.975 |
30.975 |
|
(b) Reserves & Surplus |
94.950 |
90.323 |
87.071 |
|
(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) |
125.925 |
121.298 |
118.046 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
54.003 |
63.398 |
63.910 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.926 |
1.450 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.726 |
1.308 |
0.819 |
|
Total Non-current
Liabilities (3) |
55.729 |
65.632 |
66.179 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
68.250 |
71.374 |
68.705 |
|
(b) Trade
payables |
98.293 |
180.165 |
139.355 |
|
(c) Other
current liabilities |
44.978 |
41.478 |
14.164 |
|
(d) Short-term
provisions |
0.304 |
0.115 |
0.049 |
|
Total Current
Liabilities (4) |
211.825 |
293.132 |
222.273 |
|
|
|
|
|
|
TOTAL |
393.479 |
480.062 |
406.498 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
116.506 |
130.907 |
103.091 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
43.197 |
43.097 |
33.097 |
|
(c) Deferred tax assets (net) |
6.028 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.777 |
2.496 |
7.327 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
169.508 |
176.500 |
143.515 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
24.814 |
42.661 |
60.195 |
|
(c) Trade
receivables |
175.095 |
227.109 |
182.964 |
|
(d) Cash
and cash equivalents |
2.047 |
9.219 |
1.895 |
|
(e)
Short-term loans and advances |
21.968 |
24.359 |
17.705 |
|
(f) Other
current assets |
0.047 |
0.214 |
0.224 |
|
Total
Current Assets |
223.971 |
303.562 |
262.983 |
|
|
|
|
|
|
TOTAL |
393.479 |
480.062 |
406.498 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
316.015 |
532.212 |
444.424 |
|
|
Other Income |
2.949 |
2.006 |
9.543 |
|
|
TOTAL |
318.964 |
534.218 |
453.967 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
149.749 |
299.426 |
310.851 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
2.598 |
26.008 |
-18.904 |
|
|
Employees benefits
expense |
31.693 |
30.782 |
24.823 |
|
|
Other expenses |
97.181 |
127.902 |
95.769 |
|
|
TOTAL |
281.221 |
484.118 |
412.539 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
37.743 |
50.100 |
41.428 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
9.626 |
9.001 |
9.243 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
28.117 |
41.099 |
32.185 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
26.529 |
21.727 |
18.674 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1.588 |
19.372 |
13.511 |
|
|
|
|
|
|
|
Less |
TAX |
(3.039) |
9.733 |
4.504 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
4.627 |
9.639 |
9.007 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
0.210 |
0.571 |
0.564 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
4.500 |
10.000 |
9.000 |
|
|
Total |
4.500 |
10.000 |
9.000 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
0.337 |
0.210 |
0.571 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
11.047 |
26.936 |
4.544 |
|
|
Capital Goods |
0.778 |
0.491 |
3.658 |
|
|
TOTAL IMPORTS |
11.825 |
27.427 |
8.202 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.49 |
3.11 |
2.91 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
9.394 |
6.592 |
1.959 |
|
Cash generated from operations |
(5.346) |
59.627 |
18.450 |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operating activity |
19.555 |
81.818 |
45.571 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
202.24 |
155.76 |
150.27 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
1.80 |
2.34 |
2.43 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
239.58 |
219.62 |
163.63 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.52 |
1.17 |
0.69 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.32 |
0.38 |
0.40 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.70 |
0.76 |
0.71 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.05 |
1.17 |
1.14 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.68 |
2.42 |
1.88 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.93 |
1.08 |
0.87 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.92 |
5.57 |
4.48 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.46 |
1.81 |
2.03 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.18 |
2.01 |
2.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
3.67 |
7.95 |
7.63 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.06 |
1.04 |
1.18 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.94 |
0.89 |
0.91 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.32 |
0.25 |
0.29 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.25 |
4.56 |
4.34 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.06 |
1.04 |
1.18 |
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 |
30.975 |
30.975 |
30.975 |
|
Reserves & Surplus |
87.071 |
90.323 |
94.950 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
118.046 |
121.298 |
125.925 |
|
|
|
|
|
|
long-term borrowings |
63.910 |
63.398 |
54.003 |
|
Short term borrowings |
68.705 |
71.374 |
68.250 |
|
Current maturities of
long-term debts |
1.959 |
6.592 |
9.394 |
|
Total
borrowings |
134.574 |
141.364 |
131.647 |
|
Debt/Equity
ratio |
1.140 |
1.165 |
1.045 |
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 |
444.424 |
532.212 |
316.015 |
|
|
|
19.753 |
(40.622) |
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 |
444.424 |
532.212 |
316.015 |
|
Profit |
9.007 |
9.639 |
4.627 |
|
|
2.03% |
1.81% |
1.46% |
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 |
BACKGROUND (as on
2016)
The Company was incorporated on 19 May 1999 with its registered office in Hyderabad, Telangana, India. The Company was incorporated with an objective to manufacture, sell, deal export and import in all types of organics chlorides ChIaro compounds and in all types of chemicals to Pharmaceutical and other industries
OPERATIONS
AND THE STATE OF COMPANY'S AFFAIRS
During the year, the Company had earned total revenue of 318.964 million as against INR 5,34.218 million in the previous year. During the period, there was a problem in the area of pollution with respect to Pollution Control Board (PCB) due to which the factory had to be shut down for two months. Besides, the drought conditions prevalent during the year in the country and also abroad have impacted the production significantly. Major companies had to cut down their production significantly. The PCB problem was solved and the factory started functioning normally thereafter. The PCB problem and the drought conditions were, inter alia, the reasons for decline in the turnover and consequently the net profit. Despite these problem, stiff competition and general recession in the industry, the Company was able to achieve reasonable turnover. The Net profit stood at INR 4.627 million compared to INR 9.639 million for the previous year. After transfer to general reserve, the profit carried to Balance Sheet is INR 0.337 million as against INR 0.210 million in the previous year.
INDUSTRY & FUTURE
OUTLOOK
The Bulk Drug Industry has recorded a good growth for the past three decades. India occupies a good position in the manufacture of Bulk Drugs in the World. The overall Industry is large and portrays good picture for growth. The Directors are pleased to inform you that the Company has been able to achieve 3MT per month of production of Intermediates of Fluconozole and plans are afoot to achieve 5MT per month in the coming year. Plans are afoot for production of some more drug intermediates. Regarding expansion plans, the Directors wish to state that the Company has acquired the manufacturing unit of Mis Rantuss Pharmacueticals Pvt. ltd. The requisite environmental clearances are awaited from the Authorities concerned and also from National Green Tribunal and the same are expected shortly. The Company proposes to convert itself into API for which the requisite environmental clearances are awaited from the Authorities concerned and also from National Green Tribunal and the same are expected shortly. The Company commenced manufacture of Intermediates for Clopidogril Disulphate, which is lucrative. The Company also proposes to obtain drug licence for Flucanazoleand Clopidogrel Bisulphate and the same is expected shortly. In view of the above factors and the future plans of the Company, the Directors hope that, barring unforeseen Circumstances, the Company would post better results in the coming year.
UNSECURED LOAN
|
PARTICULAR |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans from Directors |
14.400 |
14.400 |
|
Sales Tax Differment |
37.541 |
43.450 |
|
Total |
51.941 |
57.850 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
B14606529 |
10291156 |
ANDHRA BANK |
26/04/2011 |
- |
- |
5000000.0 |
RAMACHANDRA PURAM BRANCH HYDERABAD-502032 TELANGANA INDIA |
|
2 |
A01119379 |
10006189 |
ANDHRA BANK |
12/05/2006 |
- |
- |
10000000.0 |
RAMACHANDRA PURAM BRANCH HYDERABAD-502032 TELANGANA INDIA |
|
3 |
Y10231008 |
90138203 |
ANDHRA BANK |
27/03/2000 |
19/02/2003 |
- |
17000000.0 |
RAMACHANDRA PURAM BRANCH HYDERABAD-502032 TELANGANA INDIA |
|
4 |
G34950055 |
90140157 |
ANDHRA BANK |
27/03/2000 |
07/09/2016 |
- |
112500000.0 |
R C PURAM BRANCH, PLOT NO. 2 & 23, JYOTHI NAGAR,RAMACHANDRAPURAM, MEDAK DISTRICT RAMACHANDRA PURAM-502032 TELANGANA INDIA |
|
5 |
G71378467 |
10336905 |
ANDHRA BANK |
19/01/2012 |
- |
05/12/2017 |
5000000.0 |
RAMACHANDRA PURAM BRANCH HYDERABAD-502032 TELANGANA INDIA |
|
6 |
G71379085 |
10407056 |
ANDHRA BANK |
04/02/2013 |
- |
05/12/2017 |
10000000.0 |
RAMACHANDRA PURAM BRANCH HYDERABAD-502032 TELANGANA INDIA |
|
7 |
C73445801 |
10607045 |
ANDHRA BANK |
19/03/2015 |
- |
01/12/2015 |
10000000.0 |
R C PURAM BRANCH, PLOT NO. 2 & 23, JYOTHI NAGAR,RAMACHANDRAPURAM, MEDAK DISTRICT RAMACHANDRA PURAM-502032 TELANGANA INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Bank Guarantees |
0.150 |
0.150 |
|
|
|
|
FIXED ASSETS
- Land
- Buildings
- Plant and Machinery
- Electricals Equipment
- Factory Equipment
- Laboratory
- Equipment
- Computer
- Furniture
- Motorcars
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.10 |
|
|
1 |
INR 79.59 |
|
Euro |
1 |
INR 90.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
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.