|
|
|
MIRA INFORM REPORT
|
Report No. : |
496364 |
|
Report Date : |
09.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
PIRAMAL ENTERPRISES LIMITED (w.e.f. 31.07.2012) |
|
|
|
|
Formerly Known
As : |
PIRAMAL HEALTHCARE LIMITED (w.e.f. 24.06.2008) NICHOLAS PIRAMAL
INDIA LIMITED (w.e.f.02.12.1992) NICHOLAS
LABORATORIES INDIA LIMITED (w.e.f.27.09.1979) INDIAN SCHERING
LIMITED |
|
|
|
|
Registered
Office : |
Piramal Ananta, Agastya Corporate Park, Opposite Fire Brigade, Kamani Junction,
LBS Marg, Kurla (West), Mumbai - 400070, Maharashtra |
|
Tel. No.: |
91-22-30467839/ 30956969 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
26.04.1947 |
|
|
|
|
Com. Reg. No.: |
11-005719 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 345.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24110MH1947PLC005719 |
|
|
|
|
IEC No.: |
0391134108 |
|
|
|
|
GST No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN4538P |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Pharma Products, Human Nutrition Products
and Animal Nutrition. [Registered Activity and also Confirmed by Management] |
|
|
|
|
No. of Employees
: |
4013 (Approximately) |
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++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Maximum Credit Limit : |
USD 412074000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a part of “Ajay Piramal Group” and was incorporated in the year 1947. The group is a diversified Indian business house with interests in Healthcare, Glass manufacturing and financial services. It is engaged in manufacturing and exporting of Pharmaceutical Formulations, Human Nutrition’s products and Animal Nutrition’s. For the financial year 2017, the revenue of the company has increased by 11.24% along with fair profit margin of 20.39%. The robust financial profile of the company marked by healthy networth base along with negligible debt level. The company has favourable Earning Per Share (EPS) of INR 607.71 against a face value (FV) of INR 100. Rating takes into consideration Ajay Piramal Group strong and diversified business risk profile, especially in the Healthcare services and its healthy operating capability. The company has its share price trading at around INR 2297 against the Face Value (FV) of INR 02 on BSE as on 8th March, 2018. Rating also derives strength from company’s established track record of business. However, these rating strengths are partially offset by vulnerability of its operating margins to volatility in raw material prices and its working capital intensive operations. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered good 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 |
ICRA |
|
Rating |
Long Term Fund Based = AA |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
09.10.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Fund Based = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
09.10.2017 |
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 09.03.2018
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.
LOCATIONS
|
Registered/ Administrative Office : |
Piramal Ananta, Agastya Corporate Park, Opposite Fire Brigade, Kamani
Junction, LBS Marg, Kurla (West), Mumbai - 400070, Maharashtra, India |
|
Tel. No.: |
91-22-30467839/ 30956969/ 66636666 |
|
Fax No.: |
91-22-30467855/ 66636416 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Plants : |
· Plot No. 67-70, Sector II, Pithampur - 454775, Madhya Pradesh, India · Plot No. K-1, Additional MIDC, Mahad, District Raigad – 402302, Maharashtra, India · Plot No. K-1, Additional MIDC, Mahad, District Raigad – 402302, Maharashtra, India · Ennore Express Highway, Chennai - 600057, Tamilnadu, India · Light Hall, A wing, Hiranandani Business Park, Saki Vihar Road, Chandivali, Andheri (East), Mumbai - 400 072, Maharashtra, India · Digwal Village, Kohir Mandal, Medak District, Zaheerabad, 502321, Telangana, India ·
Plot Nos.18 and 19 - PHARMEZ, Village Matoda,
Sarkhejbawala, NH 8A, Taluka Sanand, Ahmedabad - 382 213, Gujarat, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Ramadorai Subramanian |
|
Designation : |
Director |
|
Address : |
Flat No.1, First Floor, Wyoming Little Gibbs Road, Malabar Hill, Mumbai-400006, Maharashtra, India |
|
Date of Appointment : |
24.10.2002 |
|
DIN No.: |
00000002 |
|
|
|
|
Name : |
Mr. Narayanan Vaghul |
|
Designation : |
Director |
|
Address : |
New No 63 Old No 32 First Main Road, Raja Annamalaipuram, Chennai-600028, Tamilbnadu, India |
|
Date of Appointment : |
29.08.1997 |
|
DIN No.: |
00002014 |
|
|
|
|
Name : |
Mr. Deepak Madhav Satwalekar |
|
Designation : |
Director |
|
Address : |
Flat No. 401, 4th Floor, The Orchid, 12th Road Plot No. 252, Near Madhu Park, Khar (West) Mumbai-400052, Maharashtra, India |
|
Date of Appointment : |
19.07.2002 |
|
DIN No.: |
00009627 |
|
|
|
|
Name : |
Mr. Vijay Kantilal Shah |
|
Designation : |
Wholetime Director |
|
Address : |
Flat No.25, 22nd Floor, Kanchanjunga, 72, Peddar Road, Mumbai-400026, Maharashtra, India |
|
Date of Appointment : |
01.01.2012 |
|
DIN No.: |
00021276 |
|
|
|
|
Name : |
Mr. Ajay Gopikisan Piramal |
|
Designation : |
Wholetime Director |
|
Address : |
61, Piramal House, Pochkhanwala Road, Worli, Mumbai-400018, Maharashtra, India |
|
Date of Appointment : |
07.03.1988 |
|
DIN No.: |
00028116 |
|
|
|
|
Name : |
Keki Bomi Dadiseth |
|
Designation : |
Director |
|
Address : |
8a, Maneck, L. D. Ruparel Marg Off Nepeansea Marg, Mumbai-400006, Maharashtra, India |
|
Date of Appointment : |
01.12.2005 |
|
DIN No.: |
00052165 |
|
|
|
|
Name : |
Mrs. Swati Ajay Piramal |
|
Designation : |
Wholetime Director |
|
Address : |
61, Piramal House, Pochkhanwala Road, Worli, Mumbai-400018, Maharashtra, India |
|
Date of Appointment : |
20.11.1997 |
|
DIN No.: |
00067125 |
|
|
|
|
Name : |
Mr. Raghunath Anant Mashelkar |
|
Designation : |
Director |
|
Address : |
D-4, Varsha Park, Raghunath Bunglow Baner Road, Baner, Pune-411045, Maharashtra, India |
|
Date of Appointment : |
21.12.2011 |
|
DIN No.: |
00074119 |
|
|
|
|
Name : |
Mr. Anand Ajay Piramal |
|
Designation : |
Director |
|
Address : |
61 Pochkhanawala Road, Worli, Mumbai-400030, Maharashtra,
India |
|
Date of Appointment : |
12.05.2017 |
|
DIN No.: |
00286085 |
|
|
|
|
Name : |
Mrs. Nandini Ajay Piramal |
|
Designation : |
Wholetime Director |
|
Address : |
61, Piramal House, Pochkhanwala Road, Worli, Mumbai-400018, Maharashtra, India |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
00286092 |
|
|
|
|
Name : |
Mr. Goverdhan Mehta |
|
Designation : |
Director |
|
Address : |
Bungalow No. 8 (First Floor) Indian Institute Of Science, Bangalore 560012, Karnataka, India |
|
Date of Appointment : |
21.12.2011 |
|
DIN No.: |
00350615 |
|
|
|
|
Name : |
Mr. Gautam Banerjee |
|
Designation : |
Director |
|
Address : |
10 Cornwall Gardens Singapore 269639 |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
03031655 |
|
|
|
|
Name : |
Mr. Siddharth Nanalal Mehta |
|
Designation : |
Director |
|
Address : |
Apt 27 A, 159 East Walton Place,Chicago Illinois 60611 US |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
06530606 |
KEY EXECUTIVES
|
Name : |
Leonard Joseph Peter Dsouza |
|
Designation : |
Company Secretary |
|
Address : |
F-602, Rock Garden (III) C.H.S. Ltd Cts 92, Kandarpada, Dahisar (West), Mumbai-400068, Maharashtra, India |
|
Date of Appointment : |
15.09.2000 |
|
PAN No.: |
AADPD1290N |
|
|
|
|
Name : |
Mr. Vikrant Kale |
|
Designation : |
Share Service Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.12.2017
|
Category of Shareholders |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957)As a % of (A+B+C2) |
|
|
(A) Promoter &
Promoter Group |
88713272 |
51.34 |
|
|
(B) Public |
82509913 |
47.75 |
|
|
(C2) Shares held
by Employee Trust |
1564915 |
0.91 |
|
|
(C) Non
Promoter-Non Public |
1564915 |
0.91 |
|
|
Grand Total |
172788100 |
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 % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
undivided Family |
651506 |
0.38 |
|
|
Mr. Ajay G.
Piramal |
103702 |
0.06 |
|
|
Dr. (Mrs.) Swati
A. Piramal |
1167 |
0.00 |
|
|
Mr. Anand Piramal |
265406 |
0.15 |
|
|
Ms. Nandini
Piramal |
96406 |
0.06 |
|
|
Mrs. Lalita G.
Piramal |
604 |
0.00 |
|
|
Mr. Peter DeYoung |
98000 |
0.06 |
|
|
Ms. Anya Piramal
DeYoung |
43000 |
0.02 |
|
|
Master Dev Piramal
DeYoung |
38000 |
0.02 |
|
|
Mr. Ajay G. Piramal
(Karta of Ajay G. Piramal HUF) |
5221 |
0.00 |
|
|
Any Other
(specify) |
88061766 |
50.97 |
|
|
AASAN Info
Solutions (India) Pvt. Ltd. |
52010 |
0.03 |
|
|
PRL Realtors LLP |
8600000 |
4.98 |
|
|
The Ajay G.
Piramal Foundation |
833250 |
0.48 |
|
|
The Sri Krishna
Trust through its Trustee Mr. Ajay G Piramal |
75448452 |
43.67 |
|
|
Piramal Welfare
Trust (Formerly known as The Piramal Enterprise Executives Trust) |
3033113 |
1.76 |
|
|
Piramal Phytocare Limited
- Senior Employees' Stock Option Trust (Formerly known as Piramal Life
Sciences Limited - Senior Employees' Stock Option Tru |
94941 |
0.05 |
|
|
Sub Total A1 |
88713272 |
51.34 |
|
|
A=A1+A2 |
88713272 |
51.34 |
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 % of (A+B+C2) |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
1535988 |
0.89 |
|
|
Alternate
Investment Funds |
22623 |
0.01 |
|
|
Foreign Portfolio
Investors |
46267223 |
26.78 |
|
|
East Bridge
Capital Master Fund Limited |
6007666 |
3.48 |
|
|
Morgan Stanley
Asia (Singapore) Pte. |
5374169 |
3.11 |
|
|
Aberdeen Global Indian
Equity Limited |
2815727 |
1.63 |
|
|
Financial
Institutions/ Banks |
4584196 |
2.65 |
|
|
Life Insurance
Corporation Of India |
4460157 |
2.58 |
|
|
Insurance
Companies |
860000 |
0.50 |
|
|
Any Other
(specify) |
333 |
0.00 |
|
|
Foreign Bank |
333 |
0.00 |
|
|
Sub Total B1 |
53270363 |
30.83 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0.00 |
||
|
Central
Government/ State Government(s)/ President of India |
213 |
0.00 |
|
|
Sub Total B2 |
213 |
0.00 |
|
|
B3)
Non-Institutions |
0.00 |
||
|
Individual share
capital up to INR 0.200 Million |
18762093 |
10.86 |
|
|
Individual share
capital in excess of INR 0.200 Million |
2125518 |
1.23 |
|
|
Any Other
(specify) |
8351726 |
4.83 |
|
|
Trusts |
20098 |
0.01 |
|
|
Foreign
Individuals |
40 |
0.00 |
|
|
HUF |
398812 |
0.23 |
|
|
Foreign Companies |
4316911 |
2.50 |
|
|
Indiahold Ltd |
4176468 |
2.42 |
|
|
NRI – Non-Repat |
529746 |
0.31 |
|
|
NRI – Repat |
335120 |
0.19 |
|
|
Foreign Portfolio
Investors (Category III) |
3600 |
0.00 |
|
|
Overseas corporate
bodies |
3946 |
0.00 |
|
|
Clearing Members |
149230 |
0.09 |
|
|
Bodies Corporate |
2594223 |
1.50 |
|
|
Sub Total B3 |
29239337 |
16.92 |
|
|
B=B1+B2+B3 |
82509913 |
47.75 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pharma Products, Human Nutrition Products
and Animal Nutrition. [Registered Activity and also Confirmed by Management] |
|
|
|
|
Products : |
· Pharma Products · Human Nutrition Products · Animal Nutrition |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Not Available |
|
|
|
|
Purchasing : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Allahabad Bank · Australia & New Zealand Banking Group Limited · Citibank N.A. · HDFC Bank Limited · Kotak Mahindra Bank Limited · The Hongkong & Shanghai Banking Corporation Limited · Yes Bank Limited · Standard Chartered Bank · Axis Bank Limited · State Bank of India · ICICI Bank Limited · IndusInd Bank Limited · Export Import Bank of India ·
Societe Generale |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Controlling
Entities: |
· The Ajay G. Piramal Foundation @ · Piramal Life Sciences Limited - Senior Employees Stock Option Trust through its Trustee, Mr. Ajay G Piramal@ · The Sri Krishna Trust through its Trustees, Mr.Ajay Piramal and Dr.(Mrs.) Swati A. Piramal (Previously held through its Corporate Trustees, Piramal Management Services Private Limited) @ · Aasan Info Solutions (India) Private Limited @ · Piramal Welfare Trust (Formerly known as The Piramal Enterprise Executives Trust) through its Trustee, Piramal Corporate Services Limited @ · PRL Realtors LLP @ ·
There are no transactions during the year. |
|
|
|
|
The Subsidiary
companies including step down subsidiaries |
· PHL Fininvest Private Limited · Searchlight Health Private Limited (w.e.f. December 23, 2016) (formerly knownas Health Superhiway Private Limited) · Piramal International · Piramal Holdings (Suisse) SA (Piramal Holdings) · Piramal Imaging SA* · Piramal Imaging GmbH * · Piramal Imaging Limited* · Piramal Critical Care Italia, S.P.A** · Piramal Critical Care Deutschland GmbH** · Piramal Critical Care Limited (formerly known as Piramal Life Sciences (UK) Limited) ** · Piramal Healthcare (Canada) Limited ** (Piramal Healthcare, Canada) · Piramal Healthcare UK Limited ** (Piramal Healthcare UK) · Piramal Healthcare Pension Trustees Limited** · Piramal Critical Care South Africa (Pty) Ltd ** (w.e.f. November 16, 2016) · Piramal Dutch Holdings N.V. (Piramal Dutch Holdings) · Piramal Healthcare Inc. ** · Piramal Critical Care, Inc. ** (PCCI) · Piramal Pharma Inc.** · Piramal Pharma Solutions Inc. (formerly known as Coldstream Laboratories Inc.) ** · PEL Pharma Inc.** (w.e.f. July 26, 2016) · Ash Stevens LLC ** (w.e.f. August 31, 2016) · DRG Holdco Inc. $ (DRG Holdco) · Piramal IPP Holdings LLC $ · Decision Resources Inc. $ · Decision Resources International, Inc. $ · DR/Decision Resources, LLC $ · DR/MRG Holdings, LLC # · Millennium Research Group Inc. $ · Decision Resources Group Asia Ltd $ · DRG UK Holdco Limited $ · Decision Resources Group UK Limited $ · DRG UK Holdco Limited $ · Decision Resources Group UK Limited $ · Sigmatic Limited $ · Activate Networks Inc. $ · DRG Analytics & Insights Private Limited $ · DRG Singapore Pte Ltd $ (w.e.f. July 21, 2016) · Piramal Dutch IM Holdco B.V. · PEL-DRG Dutch Holdco B.V.$ · Piramal Fund Management Private Limited (Piramal Fund) · Piramal Finance Limited (Formerly known as Piramal Finance Private Limited) (Piramal Finance) · Piramal Housing Finance Private Limited ## (w.e.f February 10, 2017) · Piramal Investment Advisory Services Private Limited · Piramal Investment Opportunities Fund (PIOF) · Indiareit Investment Management Co. $$ · Piramal Asset Management Private Limited $$ · Piramal Systems & Technologies Private Limited (Piramal System) · Piramal Technologies SA @ · PEL Finhold Private Limited · PEL Asset Resurgence Advisory Private Limited (PARAPL) · Piramal Consumer Products Private Limite · Piramal Capital Limited (w.e.f. July 26, 2016) · Piramal Asset Reconstruction Private Limited · Healthcare Business Insights LLC @@ · Cost & Quality Academy, LLC@@ · Information Technology Academy, LLC@@ · Labor & Productivity Academy, LLC@@ · Supply Chain Academy, LLC@@ · Solution Provider Academy, LLC@@ · Revenue Cycle Academy, LLC@@ · Revenue Cycle 360, LLC@@ NOTE: * held through Piramal Holdings (Suisse) SA ** held through Piramal Dutch Holdings N.V. @ held through Piramal Systems & Technologies Private Limited $ held through Piramal Dutch IM Holdco B.V. $$ held through Piramal Fund Management Private Limited # merged into DR/Decision Resources, LLC w.e.f. January 17, 2017 @@ merged into Decision Resources Inc w.e.f. October 3, 2016 ## held through Piramal Finance Limited · PHL Fininvest Private Limit · Piramal International · Piramal Holdings (Suisse) SA (Piramal Holdings) · Piramal Imaging SA* · Piramal Imaging GmbH * · Piramal Imaging Limited* · Piramal Critical Care Italia, S.P.A* · Piramal Critical Care Deutschland GmbH ## · Piramal Critical Care Limited (formerly known as Piramal Life Sciences (UK) Limited) ### · Piramal Healthcare (Canada) Limited ## (Piramal Healthcare, Canada) · Piramal Healthcare UK Limited ## (Piramal Healthcare UK) · Piramal Healthcare Pension Trustees Limited ## · Piramal Dutch Holdings N.V. (Piramal Dutch Holdings) · Piramal Healthcare Inc. ** · Piramal Critical Care, Inc. ** (PCCI) · Piramal Pharma Inc.** · Piramal Pharma Solutions Inc. (formerly known as Coldstream Laboratories Inc.) ** · DRG Holdco Inc. ** (DRG Holdco) (w.e.f August 26, 2015) · Piramal IPP Holdings LLC ** (w.e.f November 6, 2015) · Decision Resources Inc. ** · Decision Resources International, Inc. ** · DR/Decision Resources, LLC ** · DR/MRG Holdings, LLC ** · Millennium Research Group Inc. ** · Decision Resources Group Asia Ltd ** · DRG UK Holdco Limited ** · Decision Resources Group UK Limited ** · Sigmatic Limited ** · Activate Networks Inc.** · Healthcare Business Insights LLC** (w.e.f. May 14, 2015) · DRG Analytics & Insights Private Limited** (w.e.f May 11, 2015) · Piramal Dutch IM Holdco B.V.** (w.e.f. March 7, 2016) · PEL-DRG Dutch Holdco B.V.** (w.e.f. March 7, 2016) · Piramal Fund Management Private Limited · Piramal Finance Limited (Formerly known as Piramal Finance Private Limited) (Piramal Finance) · Piramal Investment Advisory Services Private Limited · INDIAREIT Investment Management Co. $$ · Piramal Asset Management Private Limited $$ · Piramal Systems & Technologies Private Limited (Piramal System) · Piramal Technologies SA @ · Piramal Investment Opportunities Fund (PIOF) · PEL Finhold Private Limited · PEL Asset Resurgence Advisory Private Limited (w.e.f. 22 February, 2016) (PARAPL) · Piramal Consumer Products Private Limited (w.e.f. 23 March, 2016) · Piramal Asset Reconstruction Private Limited (w.e.f. 29 January, 2016) (PARPL) · Cost & Quality Academy, LLC** (w.e.f. May 14, 2015) · Information Technology Academy, LLC** (w.e.f. May 14, 2015) · Labor & Productivity Academy, LLC** (w.e.f. May 14, 2015) · Supply Chain Academy, LLC** (w.e.f. May 14, 2015) · Solution Provider Academy, LLC** (w.e.f. May 14, 2015) · Revenue Cycle Academy, LLC** (w.e.f. May 14, 2015) · Revenue Cycle 360, LLC** (w.e.f. May 14, 2015) NOTE: * held through Piramal Holdings (Suisse) SA ## held through Piramal Holdings (Suisse) SA till March 22, 2016; After March 22, 2016, held through Piramal Dutch Holdings N.V. ** held through Piramal Dutch Holdings N.V. $$ held through Piramal Fund Management Private Limited @ held through Piramal Systems & Technologies Private Limited ### held through Piramal Holdings (Suisse) SA till December 1, 2015; After December 1, 2015, held through Piramal Dutch Holdings N.V. CSR (Corporate Social Responsibilities) subsidiaries: Piramal Udgam Data Management Solutions (Udgam) ### Piramal Foundation for Educational Leadership (PFEL) ### Piramal Swasthya Management and Research Institute (formerly known as “Health Management and Research Institute”) (PSMRI) Piramal Healthcare Foundation ### These CSR companies (###) incorporated under section 25 of the Companies Act, 1956 (Section 8 of the Companies Act, 2013), being limited by guarantee (not having share capital) and PSMRI (being a society) are engaged in Corporate Social Responsibility activities. Based on the control assessment carried out by the company, the same is not consolidated as per IndAS 110. |
|
|
|
|
Associates and Joint
Operations / Joint Ventures |
· Convergence Chemicals Private Limited · Shrilekha Financial Services (partnership firm) (upto January 8, 2017) · Shrilekha Business Consultancy Private Limited (w.e.f. January 9, 2017) · Novus Cloud Solutions Private Limited (upto April 1, 2015) · Zebra Management Services Private Limited (w.e.f April 1, 2015) · Shriram Capital Limited (Shriram Capital) (through Shrilekha Business Consultancy Private Limited (formerly Shrilekha Financial Services (partnership firm)) · Context Matters Inc. (w.e.f September 22, 2016) · Allergan India Private Limited (Allergan) · Piramal Phytocare Limited (PPL) · Bluebird Aero Systems Limited |
|
|
|
|
Other
Intermediates: |
· Shriram Transport Finance Company Limited (Shriram Transport) (w.e.f. July 21, 2015) · Shriram City Union Finance Limited (Shriram City Union) (w.e.f. July 21, 2015) · Shriram Life Insurance Company Limited (Shriram Life) (w.e.f. July 21, 2015) · Shriram General Insurance Company Limited (w.e.f. July 21, 2015) @ · Shriram Credit Company Limited (w.e.f. July 21, 2015) @ · Bharat Re-insurance Brokers Private Limited (w.e.f. July 21, 2015) @ · Shriram Overseas Investment Private Limited (w.e.f. July 21, 2015) @ · Shriram Investments Holdings Limited (w.e.f. July 21, 2015) @ NOTE: @ There are no transactions during the year with the above companies |
|
|
|
|
Entities controlled
by Key Management Personnel: |
· Aasan Corporate Solutions Private Limited (Formerly known as Aasan Developers Private Limited) (Demerged from Piramal Estates) (Aasan · Developers) · Gopikrishna Piramal Memorial Hospital (GPMH) · Piramal Corporate Services Limited (PCSL) · Piramal Estates Private Limited (Piramal Estates) · Piramal Glass Limited (PGL) · Piramal Forging Private Limited (Piramal Forging) · Piramal Security Private Limited (Piramal Security) · Piramal Hospitality Private Limited (Piramal Hospitality) · Topzone Mercantile Company LLP (Topzone) · PRL Developers Private Limited (PRL) · Piramal Water Private Limited · PRL Agastya Private Limited · Employee Benefit Trusts · Staff Provident Fund of Piramal Healthcare Limited (PPFT) · Piramal Healthcare Limited Employees Group Gratuity Assurance Scheme |
CAPITAL STRUCTURE
AFTER: 01.08.2017
Authorised Capital: INR 1250.000 Million
Issued, Subscribed & Paid-up Capital: INR 345.576
Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
INR 2/- each |
INR 500.000 Million |
|
3000000 |
Preference Shares |
INR 100/- each |
INR 300.000 Million |
|
24000000 |
Preference Shares |
INR 10/- each |
INR 240.000 Million |
|
105000000 |
Unclassified Shares |
INR 2/- each |
INR 210.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 1250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
172563100 |
Equity Shares |
INR 2/- each |
INR 345.100 Million |
|
|
|
|
|
(i) Movement in Equity Share Capital
|
Particulars |
31.03.2017 |
|
|
|
No. of shares |
INR in Million |
|
At the beginning of the year |
172,563,100 |
345.100 |
|
Add: Issued during the year |
-- |
-- |
|
Less: Shares cancelled during the year |
-- |
-- |
|
At the end of the year |
172,563,100 |
345.100 |
(ii) Details of shareholders holding
more than 5% shares in the Company
|
Particulars |
31.03.2017 |
|
|
|
No. of shares |
% |
|
The Sri Krishna Trust through its
Trustees, Mr. Ajay Piramal and Dr.(Mrs.) Swati A. Piramal (Previously held through its Corporate Trustees, Piramal Management Services Private Limited) |
75,458,452 |
43.73% |
|
Aberdeen Global Indian Equity (Mauritius) Limited |
4,185,039 |
2.43% |
(iii)
Aggregate number of shares issued for consideration other than cash and shares
bought back during the period of five years immediately preceding the current
financial year:
|
Particulars |
31.03.2017 |
|
|
|
Financial Year |
No. of shares |
|
i. Equity Shares allotted as fully paid-up pursuant to merger of PHL Holdings Private Limited into the Company |
2013-14 |
84,092,879 |
|
ii.
Equity Shares allotted as fully paid-up pursuant to demerger of R&D NCE
division of Piramal Phytocare Limited (PPL) (formerly known as Piramal Life Sciences Limited) into the Company |
2011-12 |
5,352,585 |
|
iii.
Equity shares bought back by the Company |
2011-12 |
705,529 |
|
iv.
Equity shares bought back by the Company |
2010-11 |
41,097,100 |
(iv) Terms and Rights attached to
equity shares
Equity Shares:
The Company has one class of equity shares having a par value of INR 2/- per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
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 |
345.100 |
345.100 |
345.100 |
|
(b) Reserves & Surplus |
143880.900 |
127661.000 |
132435.100 |
|
(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) |
144226.000 |
128006.100 |
132780.200 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
27395.200 |
56332.300 |
11994.200 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
56.500 |
111.400 |
0.000 |
|
(d)
long-term provisions |
308.600 |
342.500 |
428.200 |
|
Total
Non-current Liabilities (3) |
27760.300 |
56786.200 |
12422.400 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
50201.200 |
67203.500 |
25755.200 |
|
(b)
Trade payables |
5333.600 |
4903.900 |
4445.600 |
|
(c)
Other current liabilities |
26804.500 |
13399.400 |
1412.100 |
|
(d)
Short-term provisions |
421.600 |
872.900 |
896.800 |
|
Total
Current Liabilities (4) |
82760.900 |
86379.700 |
32509.700 |
|
|
|
|
|
|
TOTAL |
254747.200 |
271172.000 |
177712.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
7125.200 |
6952.900 |
6558.300 |
|
(ii)
Intangible Assets |
3622.800 |
2591.500 |
940.500 |
|
(iii)
Capital work-in-progress |
5752.100 |
917.600 |
569.700 |
|
(iv) Intangible assets under development |
266.500 |
111.200 |
44.400 |
|
(b) Non-current
Investments |
156076.400 |
174257.800 |
108814.300 |
|
(c) Deferred tax assets
(net) |
3499.500 |
2970.800 |
450.500 |
|
(d) Long-term Loan
and Advances |
36831.600 |
47013.500 |
7672.500 |
|
(e)
Other Non-current assets |
2641.400 |
2728.000 |
2276.800 |
|
Total
Non-Current Assets |
215815.500 |
237543.300 |
127327.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
16665.700 |
6280.400 |
9163.100 |
|
(b)
Inventories |
3431.100 |
3751.500 |
3210.800 |
|
(c)
Trade receivables |
4914.300 |
4045.800 |
3263.800 |
|
(d)
Cash and cash equivalents |
1240.700 |
394.800 |
403.900 |
|
(e)
Short-term loans and advances |
11530.400 |
18106.100 |
33289.700 |
|
(f)
Other current assets |
1149.500 |
1050.100 |
1054.000 |
|
Total
Current Assets |
38931.700 |
33628.700 |
50385.300 |
|
|
|
|
|
|
TOTAL |
254747.200 |
271172.000 |
177712.300 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
38093.100 |
34243.200 |
24014.100 |
|
|
|
Other Income |
3571.500 |
4719.200 |
2985.900 |
|
|
|
TOTAL |
41664.600 |
38962.400 |
27000.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
7912.700 |
8594.500 |
7978.000 |
|
|
|
Purchases of Stock-in-Trade |
1275.500 |
703.500 |
802.400 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
190.600 |
(444.300) |
(51.500) |
|
|
|
Employees benefits expense |
3706.300 |
3611.900 |
2771.300 |
|
|
|
Excise duty |
431.000 |
399.700 |
0.000 |
|
|
|
Exceptional items |
0.000 |
(701.900) |
(2988.800) |
|
|
|
Other expenses |
6220.900 |
8298.200 |
8067.300 |
|
|
|
TOTAL |
19737.000 |
20461.600 |
16578.700 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
21927.600 |
18500.800 |
10421.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
11783.400 |
7868.800 |
3069.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
10144.200 |
10632.000 |
7352.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
944.900 |
795.500 |
888.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
9199.300 |
9836.500 |
6463.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1431.500 |
(120.500) |
2736.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
7767.800 |
9957.000 |
3727.400 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
45.01 |
57.70 |
21.60 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
24957.800 |
12061.000 |
583.500 |
|
|
|
|
|
|
Cash generated from / (used in) Operations |
(61590.600) |
(68063.400) |
NA |
|
|
|
|
|
|
Cash (Used in) Operations |
NA |
NA |
(30290.100) |
|
|
|
|
|
|
Net Cash generated from / (used in) Operating Activities |
(63476.800) |
(71309.300) |
NA |
|
|
|
|
|
|
Net Cash (Used in) Operating Activities |
NA |
NA |
(33691.700) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
47.09 |
43.12 |
49.61 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
7.75 |
8.46 |
7.36 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
211.88 |
192.51 |
184.80 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
6.39 |
4.93 |
3.25 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.31 |
1.75 |
1.28 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.53 |
0.57 |
0.25 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.71 |
1.06 |
0.29 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.57 |
0.67 |
0.24 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.12 |
0.08 |
0.06 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.86 |
2.35 |
3.40 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
20.39 |
29.08 |
15.52 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.05 |
3.67 |
2.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.39 |
7.78 |
2.81 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.47 |
0.39 |
1.55 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.43 |
0.35 |
1.45 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.57 |
0.47 |
0.75 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
297.17 |
392.92 |
111.08 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.47 |
0.39 |
1.55 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 2.00/- |
|
|
|
|
Market Value |
INR 2297.00/- |
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 |
345.100 |
345.100 |
345.100 |
|
Reserves & Surplus |
132435.100 |
127661.000 |
143880.900 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
132780.200 |
128006.100 |
144226.000 |
|
|
|
|
|
|
long-term borrowings |
11994.200 |
56332.300 |
27395.200 |
|
Short term borrowings |
25755.200 |
67203.500 |
50201.200 |
|
Current Maturities of Long
term debt |
583.500 |
12061.000 |
24957.800 |
|
Total
borrowings |
38332.900 |
135596.800 |
102554.200 |
|
Debt/Equity
ratio |
0.289 |
1.059 |
0.711 |
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 |
24014.100 |
34243.200 |
38093.100 |
|
|
|
42.596 |
11.243 |
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 |
24014.100 |
34243.200 |
38093.100 |
|
Profit/ (Loss) |
3727.400 |
9957.000 |
7767.800 |
|
|
15.52% |
29.08% |
20.39% |
LEGAL CASES
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
PRESENTATION
DATE:- 29.11.2017 |
|
LODGING NO: ITXAL/ 3023/ 2017
FILING DATE: 29.11.2017 |
|
PETITIONER:
PR. COMMISSIONER OF INCOME TAX-7 RESPONDENT: PIRAMAL
ENTERPRISES LIMITED RESP. ADV.: SURESH KUMAR [I2100]
DISTRICT: MUMBAI |
|
BENCH: SINGLE STATUS: PRE-ADMISSION CATEGORY:
TAX APPEALS NEXT DATE: 08.03.2018
STAGE: FOR REJECTION CORAM: REGISTRAR [OS]/ PROTONOTARY & SR. MASTER |
|
ACT: Income Tax Act,
1961 Under
Section :- 260A |
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
PRESENTATION
DATE:- 18.02.2017 |
|
LODGING NO: ITXAL/ 450/ 2017
FILING DATE: 18.02.2017 REG. NO: ITXA/621/2017 REG.
DATE: 12.04.2017 |
|
PETITIONER:
PR. COMMISSIONER OF INCOME TAX-7 RESPONDENT: PIRAMAL
ENTERPRISES LIMITED RESP. ADV.: SHAM V WALVE [I3200]
DISTRICT: MUMBAI |
|
BENCH: DIVISION STATUS: PRE-ADMISSION CATEGORY:
TAX APPEALS NEXT DATE: 23.03.2018
STAGE: -- CORAM: ACCORDING TO SITTING LIST ACCORDING TO
SITTING LIST |
|
ACT: Income Tax Act,
1961 Under Section :- 260A |
NOTE: OTHER
LITIGATION DETAILS FILE ATTACHED
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
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 |
Yes |
|
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 |
G50711274 |
100116420 |
IDBI
TRUSTEESHIP SERVICES LIMITED |
20/07/2017 |
- |
- |
5000000000.0 |
ASIAN
BUILDING, GROUND FLOOR. 17,R. KAMANI MARG, BALLARD ESTATEMUMBAIMH400001IN |
|
2 |
G36311678 |
100078303 |
IDBI
TRUSTEESHIP SERVICES LIMITED |
17/01/2017 |
- |
- |
1500000000.0 |
ASIAN BUILDING,
GROUND FLOOR. 17,R. KAMANI MARG, BALLARD ESTATEMUMBAIMH400001IN |
|
3 |
G29484508 |
100066519 |
IDBI
TRUSTEESHIP SERVICES LIMITED |
15/11/2016 |
- |
- |
25000000000.0 |
ASIAN
BUILDING, GROUND FLOOR,17,R KAMANI MARG, BALLARD ESTATEMUMBAIMH400001IN |
|
4 |
G09596750 |
100044815 |
IDBI
TRUSTEESHIP SERVICES LIMITED |
08/08/2016 |
- |
- |
2500000000.0 |
ASIAN
BUILDING, GROUND FLOOR. 17,R. KAMANI MARG, BALLARD ESTATEMUMBAIMH400001IN |
|
5 |
G39506142 |
100046137 |
IDBI
TRUSTEESHIP SERVICES LIMITED |
28/07/2016 |
30/01/2017 |
- |
2000000000.0 |
ASIAN
BUILDING, GROUND FLOOR, 17,R. KAMANI MARG, BALLARD ESTATEMUMBAIMH400001IN |
|
6 |
G11401056 |
100039183 |
IDBI
TRUSTEESHIP SERVICES LIMITED |
10/06/2016 |
26/08/2016 |
- |
3000000000.0 |
ASIAN BUILDING,
GROUND FLOOR,17,R KAMANI MARG, BALLARD ESTATEMUMBAIMH400001IN |
|
7 |
G05653415 |
100033284 |
IDBI
TRUSTEESHIP SERVICES LIMITED |
23/05/2016 |
- |
- |
10000000000.0 |
ASIAN
BUILDING, GROUND FLOOR,17,R KAMANI MARG, BALLARD ESTATEMUMBAIMH400001IN |
|
8 |
G01097740 |
10628394 |
IDBI
TRUSTEESHIP SERVICES LIMITED |
04/03/2016 |
08/03/2016 |
- |
5000000000.0 |
ASIAN
BUILDING, GROUND FLOOR,17,R KAMANI MARG, BALLARD ESTATEMUMBAIMH400001IN |
|
9 |
G16196230 |
90218157 |
ALLAHABAD
BANK |
20/01/1998 |
23/09/2016 |
- |
5000000000.0 |
INDUSTRIAL
FINANCE BRANCH,ALLAHABAD BANK BUILDING,SECOND FLOOR,37,MUMBAI SAMACHAR
MARG,FORT,MUMBAIMH400023IN |
|
10 |
Y10320659 |
90218094 |
DRESDNER
BANK AG |
06/06/1997 |
- |
- |
6500000.0 |
HOECHST
HOUSE; 1ST FLOORNARIMAN POINTMUMBAIMH400021IN |
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Redeemable Non-Convertible Debentures |
9076.100 |
27951.600 |
|
Term Loan From
Banks: |
|
|
|
Rupee Loans |
0.000 |
2993.100 |
|
Foreign Currency Non Repatriable Loans |
0.000 |
3982.400 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans from banks |
|
|
|
- Repayable on demand |
9521.000 |
5263.800 |
|
- Others |
10.100 |
134.200 |
|
Commercial Papers |
39485.100 |
59513.000 |
|
Loans from Related Parties |
0.000 |
260.000 |
|
|
|
|
|
Total |
58092.300 |
100098.100 |
GENERAL INFORMATION
The company is one of India’s large diversified companies, with a presence in Healthcare, Healthcare Information Management and Financial Services.
In Healthcare, PEL is one of the leading players globally in CRAMS (custom research and manufacturing services) as well as in the critical care segment of inhalation and injectable anaesthetics. It also has a strong presence in the OTC segment in India.
PEL’s Healthcare Information Management business, Decision Resources Group, is amongst the top 20 US market research organizations which provide information services to the healthcare industry.
In Financial Services, PEL, including through its subsidiaries, provides comprehensive financing solutions to real estate companies. Structured Finance Group (SFG) also provides senior and mezzanine growth capital to various businesses across varied sectors that are integral part of India’s growth story. The Company also has strategic alliances with top global funds such as CPPIB Credit Investment Inc., APG Asset Management and Bain Capital Credit. PEL also has long term equity investments in Shriram Group, a leading financial conglomerate in India.
PEL is listed on the BSE Limited and the National Stock Exchange of India Limited in India.
OPERATIONS REVIEW
Total income from operations on a standalone basis for the year grew by 11.24% to INR 38093.100 million as compared to INR 34243.200 million in FY 2016. Profit before interest, depreciation and tax (PBITDA) for FY 2017 on a standalone basis grew by 23.20% to INR 21927.600 million as compared to INR 17798.900 million in FY 2016. Growth in PBIDTA was driven by strong revenue performance across most of the businesses. Net Profit for the year was INR 7767.800 million as compared to INR 9957.000 million in FY 2016. Earnings per share were INR 45.01 for the year as compared to INR 57.70 per share during the previous year.
STATEMENT OF
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE YEAR ENDED 31.12.2017
[INR IN MILLION]
|
Particulars |
Quarter Ended 31.12.2017 |
Quarter Ended 30.09.2017 |
Half Year Ended 31.12.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
Income from Operations |
|
|
|
|
Revenue from Operations |
8710.600 |
8022.500 |
22939.400 |
|
Other Income |
267.300 |
1779.000 |
3778.900 |
|
Total Income from
operations (net) |
8977.900 |
9801.500 |
26718.300 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of materials consumed |
2163.000 |
1971.200 |
6076.300 |
|
Purchase of stock in trade |
310.400 |
244.400 |
766.900 |
|
Changes in inventories of finished goods, work in progress
and stock in trade |
(507.800) |
51.100 |
(934.800) |
|
Excise Duty |
0.000 |
0.000 |
83.200 |
|
Employee benefit expenses |
1078.600 |
1036.900 |
3158.900 |
|
Finance Costs |
2509.400 |
2423.900 |
7139.600 |
|
Depreciation and amortization expenses |
297.600 |
257.700 |
804.500 |
|
Other Expenses |
2191.200 |
1577.100 |
5802.500 |
|
Total Expenses |
8042.400 |
7562.300 |
22897.100 |
|
Profit before
Exceptional items and Tax |
935.500 |
2239.200 |
3821.200 |
|
Exceptional
item |
0.000 |
0.000 |
0.000 |
|
Profit/ Loss before tax |
935.500 |
2239.200 |
3821.200 |
|
Tax Expenses |
|
|
|
|
- Current Tax |
254.500 |
497.500 |
918.700 |
|
- Deferred
Tax Liability/ Assets |
(129.500) |
235.100 |
168.900 |
|
|
|
|
|
|
Profit/ Loss after tax |
910.500 |
1506.600 |
2733.600 |
|
|
|
|
|
|
Other Comprehensive Income and (Expense)
(OCI), net of tax expenses |
|
|
|
|
A) Items that will not be subsequently
reclassified to profit or loss |
|
|
|
|
- Changes in
fair values of equity instrument through
OCI |
9954.900 |
(893.300) |
7453.500 |
|
-
Remeasurement of Post-Employment Benefit Plans |
(5.000) |
11.600 |
(38.400) |
|
Less: Income
Tax impact on above |
1.800 |
(4.100) |
13.300 |
|
|
|
|
|
|
B) Items that will be subsequently
reclassified to profit or loss |
|
|
|
|
- Holding
Reserve |
25.600 |
(13.300) |
9.500 |
|
Less: Income
Tax impact on above |
(8.900) |
4.600 |
(3.300) |
|
|
|
|
|
|
Other Comprehensive Income and (Expense) (OCI)
for the period, net of tax expenses |
9968.400 |
(894.500) |
7434.600 |
|
|
|
|
|
|
Total Comprehensive Income / (Expense) for
the period |
10778.900 |
612.100 |
10168.200 |
|
|
|
|
|
|
Paid- up Equity
Share Capital (Face value of the share – INR 2/-) |
345.600 |
345.100 |
345.600 |
|
Other Equity
[excluding Revaluation Reserves] |
|
|
|
|
|
|
|
|
|
Earnings Per
Equity Share [EPS] [of INR 2/- each] |
|
|
|
|
Basic and diluted
EPS before extraordinary items for the period [INR] |
4.35 |
8.73 |
15.43 |
|
Basic and
diluted EPS after extraordinary items for the period [INR] |
4.35 |
8.73 |
15.43 |
Segment
Wise Revenue, Results and Capital Employed
|
Particulars |
Quarter Ended 31.12.2017 |
Quarter Ended 30.09.2017 |
Half Year Ended 31.12.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
1. Segment
Revenue Total Income
from Operations, Net |
|
|
|
|
Pharmaceuticals |
5149.500 |
5016.000 |
13879.100 |
|
Financial
Services |
3561.100 |
3006.500 |
9060.300 |
|
Total |
8710.600 |
8022.500 |
229369.400 |
|
Less: Inter Segment revenue |
0.000 |
0.000 |
0.000 |
|
Total Income
from Operations, Net |
8710.600 |
8022.500 |
22939.400 |
|
|
|
|
|
|
2. Segment
Results Earnings before
Interest, Tax, Depreciation and Amortization |
|
|
|
|
Pharmaceuticals |
751.600 |
1995.100 |
3384.600 |
|
Financial
Services |
1265.200 |
891.100 |
2924.400 |
|
Total |
2016.800 |
2886.200 |
6309.000 |
|
Less: Depreciation and
Amortization expenses |
297.600 |
257.700 |
804.500 |
|
Less: Finance Cost [Unallocated] |
856.100 |
934.800 |
2721.400 |
|
Less: Unallocated Income/ [Net of Unallocated
cost] |
72.400 |
545.500 |
1038.100 |
|
Total Profit / (Loss)
before Tax |
935.500 |
2239.200 |
3821.200 |
|
|
|
|
|
|
3. Capital Employed [Segment Assets -
Segment Liabilities] |
|
|
|
|
Pharmaceuticals |
|
|
|
|
Segment Assets |
56077.800 |
57323.800 |
56077.800 |
|
Segment Liabilities |
(4073.400) |
(6974.700) |
(7073.400) |
|
Financial
Services |
|
|
|
|
Segment Assets |
230542.600 |
180314.000 |
230542.600 |
|
Segment Liabilities |
(95745.600) |
(90881.500) |
(95745.600) |
|
Unallocated |
|
|
|
|
Segment Assets |
55859.800 |
50925.300 |
55859.800 |
|
Segment Liabilities |
(45426.700) |
(51443.600) |
(45426.700) |
|
|
|
|
|
|
Total Capital Employed |
194234.500 |
139263.300 |
194234.500 |
Notes:
1. The standalone financial results for the three months and nine months ended December 31, 2017, have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on January 30, 2018. The statutory auditors, Deloitte Haskins & Sells LLP have Issued an unqualified review conclusion. Standalone financial results for the three months and nine months ended December 31, 2016 and year ended March 31, 2017 were reviewed/audited by the previous auditors - Price Waterhouse.
2. The secured listed non-convertible debentures of the Company aggregating to INR 3,9900.000 million as on December 31, 2017 are secured by way of the hypothecation over the specified identified receivables and a first ranking pari passu mortgage over Specifically Mortgaged Property.
The Asset cover on the secured and unsecured listed non-convertible debentures of the Company exceeds hundred percent of the principal amount of the said debentures.
3. Compulsorily Convertible Debentures (“CCD”) for an aggregate amount of INR 4,9961.900 million have been allotted to the CCD holders upon receipt of the necessary funds on October 25, 2017. Considering the effect of conversion of these CCDs into equity shares, the Earnings Per Share (Basic and Diluted) for the three months and nine months ended December 31, 2017 is not comparable with that of the earlier periods.
4. The Company has filed a Draft letter of offer with Securities and Exchange Board of India on November 8, 2017 for rights issue of equity shares for an amount upto INR 2,0000.000 million.
5.
During the three months and nine months ended
December 31, 2016, the Company transferred a portion of its lending portfolio
comprising of Loan book assets of INR 13,9502.700 million (INR 1,2122.600
million for the quarter ended December 31, 2016) and Borrowings of INR 12,5105.800
million (INR 1,1956.800 million for the quarter ended December 31, 2016),
forming part of its financial services business to its wholly owned subsidiary
Piramal Finance Limited, for a net consideration of INR 1,4396.900 million
(Rs. 16.58 Crores for the quarter ended December 31, 2016). Hence the results
for the three months and nine months ended December 31, 2017 are not comparable
with the results for three months and nine months ended December 31,
2016.
6. Exceptional Expense includes:
Employee severance costs of INR 4.400 million for the three months and nine months ended December 31, 2016.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Claims against the Company
not acknowledged as debt: |
|
|
|
Vide Demand dated June 5, 1984, the Government has asked for payment to the credit of the Drugs Prices Equalisation Account, the difference between the common sale price and the retention price on production of Vitamin ‘A’ Palmitate (Oily Form) from January 28, 1981 to March 31, 1985 which is not accepted by the Company. The Company has been legally advised that the demand is untenable. |
6.100 |
6.100 |
|
Guarantees issued (Other than Financial Guarantees) |
4530.200 |
4661.600 |
|
Others |
|
|
|
Appeals filed in respect of disputed demands: |
|
|
|
Income Tax |
|
|
|
- where the Company is in appeal |
6783.700 |
6777.600 |
|
where the Department is in appeal |
1422.30 |
1442.500 |
|
Sales Tax |
176.600 |
144.300 |
|
Central / State Excise |
220.800 |
103.600 |
|
Labour Matters |
01.600 |
03.900 |
|
Stamp Duty |
40.500 |
40.500 |
|
Legal Cases |
85.000 |
85.000 |
|
Unexpired Letters of Credit |
80.700 |
126.100 |
FIXED ASSETS:
Tangible Assets
· Land Freehold
· Buildings
· Plant & Equipment
· Roads
· Furniture & fixtures
· Office Equipment
· Ships
· Helicopter
· Motor Vehicles
Intangible Assets
·
Customer relations
·
Favourable lease
·
Technology
·
Brands and Trademarks
PRESS RELEASE:
JSW-PIRAMAL OFFER INR
297000.000 MILLION FOR BHUSHAN STEEL
08.02.2018
Mumbai: The combine of JSW Steel Ltd and Piramal Enterprises Ltd has offered a payment of INR 297000.000 Million to lenders of debt laden Bhushan Steel Ltd which currently facing corporate insolvency proceedings, two people aware of the ongoing bidding process for the troubled steel company have told Mint on condition of anonymity.
According to the people cited above, JSW-Piramal has placed bid of INR 29,7000.000 million, offering a upfront cash payment of INR 280000.000 million to the banks and has offered to invest another INR 1,7000.000 million as fresh equity into the company.
JSW- Piramal’s offer roughly translates into a 50% haircut for Bhushan Steel’s lenders which has an overall debt INR 423550.000 million. JSW has also proposed to expand the production capacity of Bhushan Steel from existing 7.1 mtpa to 10 mtpa. A JSW spokesperson declined requests for comment while emails sent to the interim resolution professional of Bhushan Steel and Tata Steel were yet to receive any response.
According to the people cited above Tata Steel Ltd has also bid for Bhushan Steel but the value of the bid was not immediately known. The third bid made by a section of Bhushan Steel’s employees is likely to be disqualified it was not supported by a bank guarantee, they said. The liquidation value of Bhushan Steel was earlier fixed at INR 200000.000 million, the people cited above said.
“The bids were opened today and the committee of creditors of Bhushan Steel will now evaluate the resolution plans submitted by the bidders “said the first person cited above. “ There is a possibility that the creditors will also engage with Tata steel before a final decision is made.
Bhushan Steel is the largest manufacturer of auto-grade steel in India,
making flat products, hot rolled and cold rolled coils, besides operating a
galvanised coil and sheet line. Its clients include General Motors Co., Hyundai
Motors Co., Ford Motor Co., Mahindra and Mahindra Ltd and Eicher Tractors Ltd.
Essar Steel, meanwhile, has increased capacity utilization to 7.1 mtpa, from
35% in 2015 to over 80% in 2017. Bhushan Steel is among the 12 cases identified
by the Reserve Bank of India for early bankruptcy proceedings.
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 64.92 |
|
UK Pound |
1 |
INR 90.23 |
|
Euro |
1 |
INR 80.54 |
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
RUP |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
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.