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%20-%20498174%2017-Mar-2018_files/image002.jpg){kind=small}
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MIRA
INFORM REPORT
|
Report No. : |
498174 |
|
Report Date : |
17.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
J B CHEMICALS AND PHARMACEUTICALS LIMITED (w.e.f. 21.08.1985) UNIQUE PHARMACEUTICALS LABORATORIES (A DIVISION OF J. B. CHEMICALS AND
PHARMACEUTICALS LIMITED) |
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|
|
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Formerly Known
As : |
J.B. MODY CHEMICALS AND PHARMACEUTICALS LIMITED |
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Registered
Office : |
Neelam Centre, B Wing, 4th Floor, Hind Cycle Road, Worli,
Mumbai-400030, Maharashtra |
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Tel. No.: |
91-22-24822222 |
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|
|
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
18.12.1976 |
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Com. Reg. No.: |
11-019380 |
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Capital
Investment / Paid-up Capital : |
INR 169.640 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24390MH1976PLC019380 |
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|
|
|
IEC No.: [Import-Export Code No.] |
0388063262 |
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|
|
|
GSTIN : [Goods & Service Tax Registration No.] |
27AAACJ1482G1ZP |
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|
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TIN No.: |
27670338255 |
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|
|
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PAN No.: [Permanent Account No.] |
AAACJ1482G |
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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, Trader and Exporter of Pharmaceutical Formulations, Herbal Remedies and APIs. (Registered Activity and also Confirmed by Management) |
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|
|
|
No. of Employees
: |
3506 (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 39650000 |
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|
|
|
Status : |
Excellent |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1976. It is a manufacturer, trader and exporter of Pharmaceutical products. For the financials for the year 2017, the revenue of the company has increased by 2.89% along with fair profit margin of 14.43%. The robust financial profile of the company is marked by healthy networth base along with strong debt coverage indicators due to low debt balance sheet profile. The rating takes into consideration the subject’s long established track record of business operations along with extensive experience of its promoters. The company has its share price trading at around INR 298 against the face value (FV) of INR 2 on BSE as on March 15, 2018. As per the unaudited quarterly financials of December 2017, the company has achieved revenue of INR 3047.42 million and has reported profit margin of 16.10%. However, these rating strengths are partially offset by susceptibility to (foreign exchange) forex risk in the semi-regulated markets and intense competition. Business is active. Payment seems to be regular. In view of the aforesaid, the company can be considered for good business dealing at usual trade terms and conditions. Note: Unique Pharmaceutical Laboratories is a division of “J B Chemicals and Pharmaceuticals Limited”. |
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 |
CRISIL |
|
Rating |
Long Term Rating : AA |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
29.12.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating : A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
29.12.2017 |
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 17.03.2018
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 PARTED BY
|
Name : |
Mr. Mahesh Baser |
|
Designation : |
DGM Accountant and Finance |
|
Contact No.: |
91-22-248-22222 |
|
Date : |
15.03.2018 |
LOCATIONS
|
Registered Office : |
Neelam Centre, B Wing, 4th Floor, Hind Cycle Road, Worli,
Mumbai-400030, Maharashtra, India |
|
Tel. No.: |
91-22-24822222/ 24930918 |
|
Mobile No.: |
91-9998014363 (Mr. Nirav Diwan) |
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Fax No.: |
91-22-24930534/24939633 |
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E-Mail : |
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Website : |
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Corporate Office : |
Cnergy IT Park, Unit A2, 3rd floor, Unit A, 8th floor,
Appa Saheb Marathe Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India |
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Tel. No.: |
91-22-24395200/ 24395500 |
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Fax No.: |
91-22- 24315331/ 24315334 |
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|
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Factory 1 : |
Plot Nos. 215 to 219, 304 to 310 and Plot No.4 and 5, Phase IV, GIDC
Industrial Area, Panoli - 394116, Maharashtra, India |
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Factory 2 : |
Plot Nos.128/1, 128/1/1, 128/2, 129/1 and 129/B1, GIDC Industrial
Area, Ankleshwar - 393002, Gujarat, India |
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Factory 3 : |
Survey No.101/2 and 102/1, Daman Industrial Estate, Airport Road,
Kadaiya, Daman - 396210, Union Territory, India |
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R & D
Centers: |
Located at: ·
Thane ·
Panoli ·
Nani Daman |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Jyotindra Bhagwanlal Mody |
|
Designation : |
Managing Director |
|
Address : |
7, Avillion, Little Gibbs Road,, Malabar Hill, Mumbai- 400006,
Maharashtra, India |
|
Date of Appointment : |
01.11.2015 |
|
DIN No.: |
00034851 |
|
|
|
|
Name : |
Mr. Shirish Bhagwanlal Mody |
|
Designation : |
Whole-Time Director |
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Address : |
F-No-232, Kshitij, 47 Nepansea Road, Mumbai - 400026, Maharashtra,
India |
|
Date of Appointment : |
18.12.1976 |
|
DIN No.: |
00035051 |
|
|
|
|
Name : |
Mr. Dinesh Bhagwanlal Mody |
|
Designation : |
Whole-Time Director |
|
Address : |
601, Citadel, L.D. Ruparel Marg, Malabar Hill, Mumbai - 400006,
Maharashtra, India |
|
Date of Appointment : |
18.12.1976 |
|
DIN No.: |
00034992 |
|
|
|
|
Name : |
Mr. Bharat Pravinchandra Mehta |
|
Designation : |
Whole-Time Director |
|
Address : |
5, Avillion, L. D. Ruparel Marg, Malabar Hill, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment : |
01.09.1997 |
|
DIN No.: |
00035444 |
|
|
|
|
Name : |
Mr. Pranabh Dinesh Mody |
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Designation : |
Whole-Time Director |
|
Address : |
202, 2nd Floor, 361/C, 18B, Citadel, L D Ruparel Marg, Malabar Hill, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment : |
01.09.1997 |
|
DIN No.: |
00035505 |
|
|
|
|
Name : |
Mr. Durga Dass Chopra |
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Designation : |
Director |
|
Address : |
102, Silver Arch, Napeansea Road, Malabar Hill, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment : |
03.04.2000 |
|
DIN No.: |
00036036 |
|
|
|
|
Name : |
Dr. Satyanarain Rameshwardas Agarwala |
|
Designation : |
Director |
|
Address : |
62, Ashoka Apartment, 68 Napeansea Road, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment : |
08.03.2002 |
|
DIN No.: |
00036079 |
|
|
|
|
Name : |
Mr. Rajiv Chandrakant Mody |
|
Designation : |
Director |
|
Address : |
2978, Toran , 5th Cross , 12th Main, Hal 2nd Stage , Indira agar, Bangalore - 560008, Karnataka, India |
|
Date of Appointment : |
13.05.2005 |
|
DIN No.: |
00092037 |
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|
|
|
Name : |
Mr. Kamlesh Lalitkumar Udani |
|
Designation : |
Whole-Time Director |
|
Address : |
4, Kundan, Deepali Co-Operative Housing Society Bharuch - 392002, Gujarat, India |
|
Date of Appointment : |
01.02.2001 |
|
DIN No.: |
00036215 |
|
|
|
|
Name : |
Mr. Shanukatali Hasanali Merchant |
|
Designation : |
Director |
|
Address : |
Rebello House, Ground Floor 130-132, Hill Road, Bandra (West) Mumbai – 400050, Maharashtra, India |
|
Date of Appointment : |
03.02.2016 |
|
DIN No.: |
00075865 |
|
|
|
|
Name : |
Mr. Devang Rohit Shah |
|
Designation : |
Director |
|
Address : |
3D, Cosmopolis, L.D.Ruparel Marg, Malabar Hill, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment : |
16.12.2014 |
|
DIN No.: |
00232606 |
|
|
|
|
Name : |
Ms. Krupa Rajen Gandhi |
|
Designation : |
Director |
|
Address : |
C/2, Ishwardas Mansion, Nana Chowk, Mumbai - 400007, Maharashtra, India |
|
Date of Appointment : |
15.01.2014 |
|
DIN No.: |
00294629 |
|
|
|
|
Name : |
Dr. Manoj R. Mashru |
|
Designation : |
Independent Director |
|
Date of Appointment : |
18.11.2016 |
|
DIN No : |
07624554 |
KEY EXECUTIVES
|
Name : |
Mr. Mayur Chamanlal Mehta |
|
Designation : |
Company Secretary |
|
Address : |
Building No.32, Flat No. 4, Brindavan Society Thane (West), Mumbai -
400601, Maharashtra, India |
|
PAN No : |
AAFPM0393P |
|
DIN No.: |
01.10.2008 |
|
|
|
|
Name : |
Mr. Vijay Dharmadatt Bhatt |
|
Designation : |
Chief Finance Officer |
|
Address : |
F-404, Shanti Apartments, Mathuradas Extension, Road Kandivali (West),
Mumbai - 400067, Maharashtra, India |
|
PAN No : |
AAAPB6161B |
|
DIN No.: |
21.01.2015 |
|
|
|
|
Audit Committee : |
·
Mr. Durga Dass Chopra (Chairman) ·
Mr. Dinesh B. Mody ·
Ms. Krupa R. Gandhi ·
Dr. Satyanarain Agarwala |
|
|
|
|
Core Technical Team
: |
· Mr. Bharat P. Mehta, Whole time director (Planning & Development) · Mr. Kamlesh Udani, Executive director (Technical & Production) · Dr. Milind Joshi, President – Global Regulatory Management · Mr. Parmeshwar Bang, Vice President - Works ·
Mr. M. K. Karve, Quality Controller -
Corporate QA |
|
|
|
|
Business Management
Team : |
·
Mr. Jyotindra B. Mody, Managing director ·
Mr. Dinesh B. Mody, Whole time director
(Administration) ·
Mr. Shirish B. Mody, Whole time director
(Marketing) ·
Mr. Pranabh Mody, President & Whole time
director (Operations) ·
Mr. P. K. Singh, President - Global Business ·
Mr. Nirav Mody, Sr. Vice President - Strategic
Marketing and Business Development ·
Mr. Jay Mehta, Sr. Vice President –
International Division ·
Mr. Savya Sachi, Director - Marketing &
Sales (DBU) ·
Mr. Bhushan Sachdev, Vice President – Supply
Chain Management ·
Mr. Vijay Bhatt, Chief Financial Officer ·
Mr. B. K. Dhar, General Manager - API
(Marketing) ·
Mr. Mitesh Kothari, General Manager -
Diagnostic |
MAJOR SHAREHOLDERS
As on December 2017
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957 |
|
|
(A) Promoter & Promoter Group |
46665698 |
55.84 |
|
|
(B) Public |
36904277 |
44.16 |
|
|
Grand Total |
83569975 |
100.00 |
%20-%20498174%2017-Mar-2018_files/image008.gif)
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) |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu undivided Family |
45732470 |
54.72 |
|
|
Jyotindra B Mody |
5300518 |
6.34 |
|
|
Dinesh Bhagwanlal Mody* |
5171773 |
6.19 |
|
|
Shirish Bhagwanlal Mody |
4989120 |
5.97 |
|
|
Kumud Dinesh Mody |
4775627 |
5.71 |
|
|
Bharati S Mody |
4897050 |
5.86 |
|
|
Pallavi Bharat Mehta |
5132089 |
6.14 |
|
|
Pranabh Dinesh Mody |
4874523 |
5.83 |
|
|
P D Mody (P D Mody Huf) |
6907 |
0.01 |
|
|
Sejal Pranabh Mody |
49336 |
0.06 |
|
|
Nirav Shirish Mody |
4918735 |
5.89 |
|
|
Jinali Pranabh Mody |
2961 |
0.00 |
|
|
Purvi Uday Asher |
370017 |
0.44 |
|
|
Jay Bharat Mehta |
2425936 |
2.90 |
|
|
Uday Madhavdas Asher |
133207 |
0.16 |
|
|
Kantaben Vinaychandra Gosalia |
25620 |
0.03 |
|
|
Priti Rajen Shah |
9868 |
0.01 |
|
|
Bharat P Mehta |
2622046 |
3.14 |
|
|
Vibha Anupam Mehta |
2500 |
0.00 |
|
|
Anupam Pravinchandra Mehta |
2500 |
0.00 |
|
|
Nisha Vinaychandra Gosalia |
2420 |
0.00 |
|
|
Rajniben Shashikant Zaveri |
11337 |
0.01 |
|
|
Ila Dipak Parekh |
8380 |
0.01 |
|
|
Any Other (Specify) |
646711 |
0.77 |
|
|
Pallavi Bharat Mehta (Held For Mody Trading Co.) |
52775 |
0.06 |
|
|
Jyotindra B Mody( Held For Mody Bros.) |
18871 |
0.02 |
|
|
Nirav Shirish Mody (As A Trustee Of Priti Family Trust) |
222010 |
0.27 |
|
|
Nirav Shirish Mody (As A Trustee Of Deepali Family Trust) |
222010 |
0.27 |
|
|
Namplas Chemicals Private Limited |
121474 |
0.15 |
|
|
Boxcare Packagings Private Limited |
8830 |
0.01 |
|
|
Synit Drugs Private Limited |
741 |
0.00 |
|
|
Sub Total A1 |
46379181 |
55.50 |
|
|
A2) Foreign |
0.00 |
||
|
Individuals (NonResident Individuals/ Foreign Individuals) |
286517 |
0.34 |
|
|
Nitin Doshi |
261115 |
0.31 |
|
|
Bharat K Doshi |
25402 |
0.03 |
|
|
Sub Total A2 |
286517 |
0.34 |
|
|
A=A1+A2 |
46665698 |
55.84 |
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 |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
7398481 |
8.85 |
|
|
Dsp Blackrock Micro Cap Fund** |
3020772 |
3.61 |
|
|
Franklin India Smaller Companies Fund |
2981497 |
3.57 |
|
|
Icici Prudential Dynamic Fund |
1323380 |
1.58 |
|
|
Alternate Investment Funds |
1372831 |
1.64 |
|
|
Dsp Blackrock Aif Pharma Fund |
1188297 |
1.42 |
|
|
Foreign Portfolio Investors |
4668922 |
5.59 |
|
|
Credit Suisse (Singapore) Limited |
920358 |
1.10 |
|
|
Financial Institutions/ Banks |
31956 |
0.04 |
|
|
Insurance Companies |
1092422 |
1.31 |
|
|
Sub Total B1 |
14564612 |
17.43 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200 Million |
16893671 |
20.22 |
|
|
Individual share capital in excess of INR 0.200 Million |
821386 |
0.98 |
|
|
NBFCs registered with RBI |
8792 |
0.01 |
|
|
Any Other (specify) |
4615816 |
5.52 |
|
|
NRI |
1339337 |
1.60 |
|
|
Trusts |
550 |
0.00 |
|
|
Foreign Individuals |
200 |
0.00 |
|
|
Clearing Members |
226568 |
0.27 |
|
|
Bodies Corporate |
2911699 |
3.48 |
|
|
Icici Lombard General Insurance Company Ltd |
2000000 |
2.39 |
|
|
Investor Education & Protection Fund Authority |
137462 |
0.16 |
|
|
Sub Total B3 |
22339665 |
26.73 |
|
|
B=B1+B2+B3 |
36904277 |
44.16 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Exporter of Pharmaceutical Formulations, Herbal Remedies and APIs. (Registered Activity and also Confirmed by Management) |
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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 : |
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Products : |
Pharmaceutical Products |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Advance Payment, L/C, Cheque, Credit and Other (RTGS/ NEFT) |
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Purchasing : |
Advance Payment, L/C, Cheque, Credit and Other (RTGS/ NEFT) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users, OEM’s, Manufacturer
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No. of Employees : |
3506 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
J. K. Shah and Company Chartered Accountants |
|
Address : |
AL-Karim Manzil, 15, Palton Road, Mumbai – 400001,
Maharashtra, India |
|
Tel. No.: |
91-22-22615581/ 22620183 |
|
E-Mail : |
|
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|
Memberships : |
Not Available |
|
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Collaborators : |
Not Available |
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Subsidiary : |
|
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|
Associate
Concerns/Trusts/Companies with whom transactions have taken place during the
year: |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
101500000 |
Equity Shares |
INR 2/- each |
INR 203.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
84819975 |
Equity Shares |
INR 2/- each |
INR 169.640 Million |
|
|
|
|
|
|
|
Reconciliation of the
shares outstanding and amount of Share Capital
|
Particulars |
As at March 31,
2017 |
|
|
Number |
INR In
Million |
|
|
Shares outstanding at the beginning of the year |
84819975 |
169.640 |
|
Shares Issued during the year pursuant to Employees Stock Options
Scheme |
-- |
-- |
|
Shares
outstanding at the end of the year |
84819975 |
169.640 |
The company has only one class of issued shares having par value of INR 2/-. Each holder of equity shares is entitled to one vote per share and carries identical right as to dividend. These shares are not subject to any restrictions.
Details of
shareholders holding more than 5% shares.
|
Particulars |
As at March 31,
2017 |
|
|
No. of Shares Held |
% of Holding |
|
|
Jyotindra B. Mody |
5371905 |
6.33 |
|
Dinesh Bhagwanlal Mody |
5241432 |
6.18 |
|
Shirish Bhagwanlal Mody |
5056312 |
5.96 |
|
Kumud Dinesh Mody |
4839984 |
5.71 |
|
Bharati S. Mody |
4963002 |
5.85 |
|
Pallavi Bharat Mehta |
5201207 |
6.13 |
|
Pranabh Dinesh Mody |
4940172 |
5.82 |
|
Nirav Shirish Mody |
4984979 |
5.88 |
Shares reserved for
issue under ESOP
In the year 2004, the company has instituted the Employees Stock Option Scheme, under which 2,500,000 equity shares of INR 2 each have been reserved. Under the Scheme, the options are granted at an amount equal to ninety five percent of the average daily closing price of the shares of the company’s shares quoted on National Stock Exchange of India Limited. During the period of twelve weeks preceding the date of grant. These options vest in four equal instalments and subject to other provisions of the Scheme, are exercisable within a period of five years from the respective date of vesting.
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
169.640 |
169.640 |
169.616 |
|
(b) Reserves & Surplus |
13708.973 |
12057.414 |
9993.499 |
|
(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 |
13878.613 |
12227.054 |
10163.115 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
4.000 |
|
(b) Deferred tax liabilities (Net) |
289.535 |
320.657 |
216.222 |
|
(c) Other long term
liabilities |
39.548 |
38.060 |
0.000 |
|
(d) long-term
provisions |
88.801 |
102.011 |
120.260 |
|
Total Non-current
Liabilities |
417.884 |
460.728 |
340.482 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
488.603 |
1744.019 |
1047.297 |
|
(b) Trade
payables |
790.347 |
686.093 |
623.076 |
|
(c) Other
current liabilities |
1189.541 |
1233.186 |
825.992 |
|
(d) Short-term
provisions |
78.739 |
62.269 |
1487.641 |
|
Total Current
Liabilities |
2547.230 |
3725.567 |
3984.006 |
|
|
|
|
|
|
TOTAL |
16843.727 |
16413.349 |
14487.603 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
5936.661 |
3679.694 |
2996.191 |
|
(ii)
Intangible Assets |
150.241 |
13.845 |
12.505 |
|
(iii)
Capital work-in-progress |
37.625 |
1341.852 |
546.469 |
|
(iv)
Intangible assets under development |
0.000 |
7.048 |
5.244 |
|
(b) Non-current Investments |
3188.088 |
3643.823 |
2307.157 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.043 |
1.534 |
176.191 |
|
(e) Other
Non-current assets |
97.953 |
228.079 |
0.000 |
|
Total Non-Current
Assets |
9413.611 |
8915.875 |
6043.757 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
2249.616 |
2472.831 |
3667.817 |
|
(b)
Inventories |
1599.557 |
1332.931 |
1284.740 |
|
(c) Trade
receivables |
2650.952 |
2656.679 |
2484.905 |
|
(d) Cash
and cash equivalents |
71.971 |
107.058 |
90.552 |
|
(e)
Short-term loans and advances |
4.432 |
5.651 |
915.832 |
|
(f) Other
current assets |
853.588 |
922.324 |
0.000 |
|
Total
Current Assets |
7430.116 |
7497.474 |
8443.846 |
|
|
|
|
|
|
TOTAL |
16843.727 |
16413.349 |
14487.603 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
11986.942 |
11649.357 |
10614.212 |
|
|
Other Income |
458.903 |
556.760 |
104.088 |
|
|
TOTAL |
12445.845 |
12206.117 |
10718.300 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3670.936 |
3730.784 |
3415.873 |
|
|
Purchases of Stock-in-Trade |
962.447 |
825.488 |
903.137 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(180.526) |
(68.405) |
(8.995) |
|
|
Employees benefits expense |
1878.611 |
1659.597 |
1468.181 |
|
|
Other expenses |
3433.886 |
3244.684 |
2906.562 |
|
|
TOTAL |
9765.354 |
9392.148 |
8684.758 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
2680.491 |
2813.969 |
2033.542 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
50.013 |
102.948 |
66.501 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2630.478 |
2711.021 |
1967.041 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
462.642 |
404.087 |
375.999 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
2167.836 |
2306.934 |
1591.042 |
|
|
|
|
|
|
|
Less |
TAX |
438.190 |
514.905 |
455.217 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1729.646 |
1792.029 |
1135.825 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
NA |
5786.729 |
|
|
TOTAL
EARNINGS |
NA |
NA |
5786.729 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
NA |
789.203 |
|
|
Components and Stores parts |
NA |
NA |
11.685 |
|
|
Capital Goods |
NA |
NA |
101.995 |
|
|
TOTAL
IMPORTS |
NA |
NA |
902.883 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
20.07 |
21.09 |
13.4 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
0.883 |
|
Cash generated from operations |
2255.684 |
2222.174 |
1810.038 |
|
Net cash flows from (used in) operating activity |
1766.534 |
1708.741 |
1430.317 |
QUARTERLY
RESULTS
|
Particulars |
(Unaudited) Quarter Ended 1st Quarter |
(Unaudited) Quarter Ended 2nd Quarter |
(Unaudited) Quarter Ended 3rd
Quarter |
|
|
|
|
|
|
Net Sales |
2838.380 |
3499.270 |
3047.420 |
|
Total Expenditure |
2527.710 |
2735.530 |
2461.270 |
|
PBIDT (Excl OI) |
310.670 |
763.740 |
586.150 |
|
Other Income |
92.720 |
69.620 |
53.200 |
|
Operating Profit |
403.390 |
833.360 |
639.350 |
|
Interest |
7.910 |
10.610 |
6.110 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
395.480 |
822.760 |
633.240 |
|
Depreciation |
143.280 |
143.270 |
142.500 |
|
Profit Before Tax |
252.200 |
679.490 |
490.740 |
|
Tax |
48.530 |
162.250 |
152.240 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
203.670 |
517.240 |
338.500 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
203.670 |
517.240 |
338.500 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
80.72 |
83.24 |
85.45 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.52 |
4.38 |
4.27 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
62.26 |
54.96 |
52.66 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.68 |
2.11 |
1.58 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.44 |
0.56 |
0.57 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.15 |
0.23 |
0.28 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.04 |
0.14 |
0.10 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.18 |
0.30 |
0.39 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.44 |
0.41 |
0.35 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
53.60 |
27.33 |
30.58 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
14.43 |
15.38 |
10.70 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
10.27 |
10.92 |
7.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
12.46 |
14.66 |
11.18 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.92 |
2.01 |
2.12 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
2.29 |
1.65 |
1.80 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.82 |
0.74 |
0.70 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.88 |
10.28 |
6.20 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.92 |
2.01 |
2.12 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 2.00/- |
|
Market Value |
INR 298.00/- |
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 |
169.616 |
169.640 |
169.640 |
|
Reserves & Surplus |
9993.499 |
12057.414 |
13708.973 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
10163.115 |
12227.054 |
13878.613 |
|
|
|
|
|
|
long-term borrowings |
4.000 |
0.000 |
0.000 |
|
Short term borrowings |
1047.297 |
1744.019 |
488.603 |
|
Total
borrowings |
1052.180 |
1744.019 |
488.603 |
|
Debt/Equity
ratio |
0.104 |
0.143 |
0.035 |
%20-%20498174%2017-Mar-2018_files/image010.gif)
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 |
10614.212 |
11649.357 |
11986.942 |
|
|
|
9.752 |
2.898 |
%20-%20498174%2017-Mar-2018_files/image012.gif)
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 |
10614.212 |
11649.357 |
11986.942 |
|
Profit |
1135.825 |
1792.029 |
1729.646 |
|
|
10.70% |
15.38% |
14.43% |
%20-%20498174%2017-Mar-2018_files/image014.gif)
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
169.640 |
169.640 |
|
(b) Reserves & Surplus |
|
13467.050 |
11668.743 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
Non Controling Interest |
|
21.805 |
16.650 |
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
13658.495 |
11855.033 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
104.639 |
167.763 |
|
(c) Other long term
liabilities |
|
39.548 |
38.060 |
|
(d) long-term provisions |
|
125.620 |
104.329 |
|
Total
Non-current Liabilities (3) |
|
269.807 |
310.152 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
488.603 |
1930.237 |
|
(b) Trade payables |
|
989.771 |
908.509 |
|
(c) Other current liabilities |
|
1230.209 |
1391.492 |
|
(d) Short-term provisions |
|
103.501 |
81.179 |
|
Total
Current Liabilities (4) |
|
2812.084 |
4311.417 |
|
|
|
|
|
|
TOTAL |
|
16740.386 |
16476.602 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
5972.703 |
3715.525 |
|
(ii) Intangible Assets |
|
821.740 |
686.673 |
|
(iii) Capital work-in-progress |
|
37.625 |
1341.852 |
|
(iv) Intangible assets under
development |
|
0.000 |
7.048 |
|
(b) Non-current Investments |
|
1858.420 |
2314.155 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
3.043 |
1.534 |
|
(e) Other Non-current assets |
|
97.953 |
249.044 |
|
Total
Non-Current Assets |
|
8791.484 |
8315.831 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
2249.616 |
2472.831 |
|
(b) Inventories |
|
2001.686 |
1879.833 |
|
(c) Trade receivables |
|
2659.662 |
2726.417 |
|
(d) Cash and cash equivalents |
|
133.865 |
129.022 |
|
(e) Short-term loans and
advances |
|
9.261 |
7.464 |
|
(f) Other current assets |
|
894.812 |
945.204 |
|
Total
Current Assets |
|
7948.902 |
8160.771 |
|
|
|
|
|
|
TOTAL |
|
16740.386 |
16476.602 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
13683.170 |
12315.831 |
|
|
Other Income |
|
501.570 |
566.536 |
|
|
TOTAL
|
|
14184.740 |
12882.367 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
3670.936 |
3730.784 |
|
|
Purchases of Stock-in-Trade |
|
1524.424 |
1106.285 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
84.313 |
(135.143) |
|
|
Employees benefits expense |
|
2065.437 |
1753.068 |
|
|
Other expenses |
|
4014.229 |
3800.528 |
|
|
Share of profit of joint
venture |
|
0.000 |
(14.147) |
|
|
TOTAL |
|
11359.339 |
10241.375 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
2825.401 |
2640.992 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
53.716 |
106.459 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
2771.685 |
2534.533 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
472.244 |
412.223 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
2299.441 |
2122.310 |
|
|
|
|
|
|
|
Less |
TAX |
|
455.459 |
495.805 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
1843.982 |
1626.505 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
21.42 |
19.14 |
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) |
Yes |
|
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 |
No |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL INFORMATION
The company is a public limited company incorporated in India (CIN: L24390MH1976PLC019380) having its registered office in Mumbai. The Company is engaged in the business of manufacture and marketing of diverse range of pharmaceuticals formulations, herbal remedies and APIs. These standalone financial statements for the year ended March 31, 2017 were approved for issue by the Board of Directors vide its resolution dated May 23, 2017.
OPERATIONS/STATE OF
AFFAIRS
The total net sales for 2016-17 at INR 11487.000 Million were 4.11% higher compared to the net sales in the previous year. The sales growth was lower as exports to certain markets were impacted due to high depreciation of local currencies against US dollar. The domestic formulations business continued to do well and registered growth of 17.27% at sales of INR 4777.000 Million, while contrast media products at net sales of INR 439.100 Million registered growth of 8.91%. Total formulations exports at INR 5239.900 Million were lower compared to the previous year. API sales were also lower at INR 917.000 Million.
The operating profit at INR 1758.900 Million was affected by
de-growth in international business. The profit before tax and total
comprehensive income after tax for the year stood at INR 2167.800 Million and INR
1702.600 Million respectively.
MANAGEMENT DISCUSSION
AND ANALYSIS
INDUSTRY DEVELOPMENTS
The domestic formulations industry at sales of over INR
960000.000 Million (IMS, MAT March, 2017) achieved growth of 9.20%. The market
continues to show intense competition with increased number of brands being
launched in the market. In March 2016, Government of India issued notifications
under Drugs and Cosmetics Act, 1940 prohibiting manufacture for sale, sale and
distribution of about 344 fixed dose combinations. Many of the affected
companies challenged this exercise of power by the Central Government before
Hon’ble Delhi High Court, which has quashed the said notifications by judgement
and order dated December 1, 2016. Central Government has appealed against this
judgement and order in the Supreme Court. Only four products of the Company are
affected due to some of these notifications, the sales of which are not
regarded as material.
SEGMENT WISE
PERFORMANCE
The Company is engaged in one segment viz. pharmaceuticals. The domestic formulations business with net sales of INR 4776.900 Million registered growth of 17.27% against industry growth of 10% during the year. The contrast media division with net sales of INR 439.100 Million achieved growth of 8.91%.
The exports to Rest of the World countries at INR 3781.600 Million
were 3.21% lower. However, exports for Russia-CIS market at INR 606.500 Million
were 15.61% higher. As stated above, formulations exports during the year were
particularly affected due to sharp depreciation of major currencies against US
Dollar. The sales of bulk drugs at INR 917.000 Million were 8.71% lower.
OUTLOOK
In view of good business outlook both in domestic and international market as discussed above, the Company’s manufacturing infrastructure of international standard, strong products portfolio with high growth brands, strong marketing capability and strong balance sheet present good outlook for the Company’s business.
FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE
Revenue from operations at INR 11986.942 Million registered
growth of 2.897% over the previous year. The operating profit at INR 1758.900 Million
was 5.08% lower due to lower sales. Consequently, the profit before tax and
profit after tax at INR 2167.800 Million and INR 1702.600 Million were also
lower.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Foreign currency loans from Bank |
0.000 |
892.813 |
|
Bank Overdraft |
0.000 |
34.781 |
|
Deposit from Distributors / Customers |
25.925 |
25.925 |
|
Inter Corporate Deposits from related parties |
10.500 |
10.500 |
|
Total |
36.425 |
964.019 |
INDEX OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
C57161226 |
80029551 |
Bank of India |
04/11/2005 |
11/06/2015 |
1400000000.0 |
Nariman Point Large Corporate Branch92-93 Free Press House, Nariman PointMumbaiMH400021IN |
|
2 |
Y10348020 |
90240383 |
BANK OF INDIA |
22/10/1997 |
24/12/2004 |
380000000.0 |
BULLION EXC BR 185 SHEIKH MEMON STMUMBAIMH400002IN |
|
3 |
Y10503941 |
90376062 |
DENA BANK |
07/05/1997 |
- |
1000000.0 |
NEW MARINE LINES BRANCHMUMBAIMHIN |
|
4 |
Y10345941 |
90238304 |
BANK OF INDIA |
04/03/1997 |
04/03/2005 |
320000000.0 |
BULLION EXC BR 185 SHEIKH MEMON STMUMBAIMH400002IN |
|
5 |
Y10503586 |
90375707 |
DENA BANK |
01/11/1994 |
- |
700000.0 |
NEW MARINE LINES BRANCHMUMBAIMHIN |
|
6 |
Y10326590 |
90223799 |
LAXMICHAND BHAGAJI |
27/06/1984 |
- |
33800.0 |
RAMON HOUSE; 69BACKBAY RECLAMATIONBOMBAYMH400020IN |
|
7 |
Y10326587 |
90223796 |
LAXMICHAND BHAGAJI |
24/06/1984 |
- |
101000.0 |
RAMON HOUSE169; BACKBAY RECLAMATIONMUMBAIMH400020IN |
|
8 |
Y10326588 |
90223797 |
LAXMICHAND BHAGAJI |
24/06/1984 |
- |
67600.0 |
RAMON HOUSE; 69BACKBAY RECLAMATIONBOMBAYMH400020IN |
|
9 |
Y10342915 |
90235278 |
LAXMICHAND BHAGAJI |
24/06/1984 |
- |
101000.0 |
PARTNERSHIP FIRM; RAMON HOUSE169; BACKBAY RECLAMATIONBOMBAYMH400020IN |
|
10 |
Y10319498 |
90216933 |
LAXMI OHAND BHAFJI |
24/06/1984 |
- |
101000.0 |
RAMON HOIUSE169; BACKBAY RECLATIONMUMBAIMH400020IN |
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE
MONTH ENDED ON 31.12.2017
(INR in Million)
|
PARTICULARS |
Quarter Ended 31.12.2017 |
Quarter Ended 30.09.2017 |
Nine Month Ended 31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
3047.420 |
3499.266 |
9385.064 |
|
b) Other operating income |
53.200 |
69.615 |
215.533 |
|
Total
Income from Operations (net) |
3100.620 |
3568.881 |
9600.597 |
|
|
|
|
|
|
2.Expenditure |
|
|
|
|
Cost of material consumed |
1008.154 |
803.015 |
2693.051 |
|
Purchases of Stock-in-Trade |
227.903 |
386.100 |
857.695 |
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(167.613) |
193.115 |
12.078 |
|
Employees benefits expense |
531.067 |
529.979 |
1619.263 |
|
Finance Costs |
6.107 |
10.605 |
24.624 |
|
Depreciation and amortization
expense |
142.500 |
143.271 |
429.055 |
|
Other expenses |
861.760 |
823.305 |
2542.399 |
|
Total expenses |
2609.878 |
2889.390 |
8178.165 |
|
|
|
|
|
|
Profit/ (Loss) before tax |
490.742 |
679.491 |
1422.432 |
|
Tax expenses |
152.236 |
162.249 |
363.011 |
|
Net Profit / (Loss) after tax |
338.506 |
517.242 |
1059.421 |
|
Other Comprehensive Income |
(131.000) |
(130.800) |
(937.900) |
|
Total
Comprehensive Income after tax |
337.196 |
515.934 |
1050.042 |
|
Earnings per share (before extraordinary items) of INR 2/-
each (not annualized): |
|
|
|
|
(a) Basic |
4.03 |
6.16 |
12.62 |
|
(b) Diluted |
4.03 |
6.16 |
12.62 |
- The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on February 9, 2018.
- Post applicability of Goods and Service Tax (GST) with effect from July 1, 2017, the sales and services which are subjected to GST are disclosed net of GST. Accordingly, the sales and services for the quarter and nine months ended December 31, 2017 are not comparable with the previous corresponding periods as the figures for those periods were inclusive of excise duty.
- Provision for tax for the quarter ended December 31, 2017 is higher compare to the corresponding quarter ended December 31, 2016 as in the quarter ended December 31, 2016, Company was liable for tax on book profit under MAT provision of the Income Tax Act, 1961, which in the current year is not applicable.
- The auditors have carried out limited review of the financial results for the quarter ended on December 31, 2017 and their report does not contain any qualification.
- The Company has one reportable segment viz. Pharmaceuticals.
- The figures for the previous period(s) have been re-grouped/restated, wherever necessary.
FIXED ASSETS
Tangible Assets
· Land (Freehold)
· Factory Buildings
· Land (Leasehold)
· Furniture and Fixtures
· Plant and Equipment
· Vehicles
· Office Equipment
·
Air conditioners
Intangible Assets
· Computer Software
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 64.87 |
|
|
1 |
INR 90.48 |
|
Euro |
1 |
INR 79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUV |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
TRUP |
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 |
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.