|
|
|
MIRA
INFORM REPORT
|
Report No. : |
499842 |
|
Report Date : |
24.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
MEDREICH
LIMITED (w.e.f.
24.03.2005) |
|
|
|
|
Formerly Known
As : |
STERILAB PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Medreich House No. 12/8, Saraswathi Ammal Street, Maruthi Seva Nagar, Bangalore – 560033, Karnataka |
|
Tel. No.: |
91-80-25493334 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
16.08.1973 |
|
|
|
|
Com. Reg. No.: |
08-002383 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 401.556 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232KA1973PLC002383 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0791000770 |
|
|
|
|
GSTIN : [Goods & Service Tax
Registration No.] |
29AABCM1458Q1ZW |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM1458Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Pharmaceutical Products. (Registered Activity and also Confirmed by Management) |
|
|
|
|
No. of Employees
: |
1200 (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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 14154000 |
|
|
|
|
Status : |
Excellent |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Clear |
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|
|
Comments : |
Subject was incorporated in the year 1973. It is a subsidiary of Meiji
Seika Pharma Company Limited, Japan. The copnay is a manufacturer and exporter of pharmaceutical products. As per the financial records of 2017, the company has achieved a
favorable growth of 14.41% in its revenue as compared to the previous year’s
revenue and has earned a fair profitability margin of 7.84%. The company possesses strong financial position marked by sound net
worth base, low debt balance sheet profile and comfortable liquidity
parameters. Rating takes into consideration the strength that the company derives from
its holding company and its experienced management team and company’s long
established track record. Business is active. Payments seems to be regular. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition.
|
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 Loans A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
05.10.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Loans A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
05.10.2017 |
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 24.03.2018
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. Ravindra Naik |
|
Designation : |
DGM Finance |
|
Contact No.: |
91-80-25493334 |
LOCATIONS
|
Registered Office/ Corporate Office: |
Medreich House
No.12/8, Saraswathi Ammal Street, Maruthi Seva Nagar, Bangalore – 560 033,
Karnataka, India |
|
Tel. No.: |
91-80-25493334/ 40487100 |
|
Fax No.: |
91-80-25474741 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 / 4 : |
49 B, C and D,
Bommasandra Industrial Area, Bangalore, Karnataka, India |
|
Tel. No.: |
91-80-4334 5200 |
|
|
|
|
Factory 3 : |
Survey No.4/3,
Avalahalli, Off Kanakpura Road, Anjanapura Post, Bangalore, Karnataka, India |
|
|
|
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Factory 5 : |
Plot No.36,
Bommasandra Industrial Area, Bangalore, Karnataka, India |
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|
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Factory 6 : |
Survey No. 14 & 15 Gundarahalli Village, Sulibele Hobli, Hoskote Taluk, Bengaluru - 562114, Karnataka, India |
|
Tel. No.: |
91-80-4048 7390 / 7391 / 7392 |
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|
|
|
Factory 7 : |
Survey No. 11,12,13,14 & 15, Poojaramanahalli Village, Rural District, Bengaluru - 562114, Karnataka, India |
|
Tel. No.: |
91-80-4048 7395 / 7396 / 7397 |
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|
|
|
Factory 8 : |
45 A & B, Anrich Industrial Estate, Bollaram, Medak District, Andra Pradesh 503325, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Pankaj Garg |
||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||
|
Address : |
House No – 578, Sector – 7, Panchkula – 134109, Haryana, India |
||||||||||||||||
|
Date of Birth/Age : |
20.02.1970 |
||||||||||||||||
|
Date of Appointment : |
31.07.2015 |
||||||||||||||||
|
PAN No. : |
ACIPG9055D |
||||||||||||||||
|
DIN No.: |
03105139 |
||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||
|
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|
||||||||||||||||
|
Name : |
Mr. Narasimhan Seshadri |
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|
Designation : |
Director |
||||||||||||||||
|
Address : |
Flat No. C-004, Shanaz, 90 ,Nepean Sea Road, Mumbai – 400006, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
30.04.1953 |
||||||||||||||||
|
Date of Appointment : |
31.03.2015 |
||||||||||||||||
|
DIN No.: |
03486485 |
||||||||||||||||
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Other
Directorship :
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Yuji Sasaki |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
3-7-12, Meiwa, Yotsukaido-Shi, Chiba, Na, Japan |
||||||||||||||||
|
Date of Appointment : |
12.02.2015 |
||||||||||||||||
|
DIN No.: |
06991642 |
||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Makoto Shigemitsu |
||||||||||||||||
|
Designation : |
Whole-time Director |
||||||||||||||||
|
Address : |
5-3-1-P-506, Minatomirai, Nishi-Ku, Yokohama-Shi, Kanagawa Na, Japan |
||||||||||||||||
|
Date of Appointment : |
12.02.2015 |
||||||||||||||||
|
DIN No.: |
06991670 |
||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Masahiko Matsuo |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
35-19, Yanagicho, Kanazawa-Ku, Yokohama-Shi, Kanagawa Na, Japan |
||||||||||||||||
|
Date of Appointment : |
12.02.2015 |
||||||||||||||||
|
DIN No.: |
06991678 |
||||||||||||||||
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|
|
||||||||||||||||
|
Name : |
Dr. Chandrika Rao |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
No.46, Surveyor Street, Basavanagudi, Bangalore – 560004, Karnataka, India |
||||||||||||||||
|
Date of Birth/Age : |
20.07.1965 |
||||||||||||||||
|
Date of Appointment : |
11.07.2015 |
||||||||||||||||
|
DIN No.: |
07235407 |
||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Shinya Katafuchi |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
2-28-16, Kitayamada, Tsuzuki-ku, Yokohama - 22816, Japan |
||||||||||||||||
|
Date of Appointment : |
01.04.2016 |
||||||||||||||||
|
DIN No.: |
07261842 |
||||||||||||||||
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Other
Directorship :
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Hiromasa Takizawa |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
2-2-21-303, Nakamagome, OTA Ward, Tokyo - 1430027 Japan |
||||||||||||||||
|
Date of Appointment
: |
27.06.2017 |
||||||||||||||||
|
DIN No.: |
07774555 |
||||||||||||||||
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|
|
||||||||||||||||
|
Name : |
Mr. Shinichi Nakatsuru |
||||||||||||||||
|
Designation : |
Additional Director |
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|
Address : |
Maison Saiwai 305 2-191-1, Totehonmachi, Saiwai Ward, Kawasaki - 2120027, Japan |
||||||||||||||||
|
Date of Birth/Age : |
01.01.1970 |
||||||||||||||||
|
Date of Appointment
: |
29.06.2017 |
||||||||||||||||
|
DIN No.: |
07886575 |
||||||||||||||||
|
Passport No. : |
TR1081787 |
||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Mohesh Kumar Agrawal |
|
Designation : |
Chief Finance Officer |
|
Address : |
3024, Prestige Shantiniketan, Gate No.1, Whitefield Road, Bangalore – 560048, Karnataka, India |
|
Date of Appointment : |
30.07.2016 |
|
PAN No.: |
ACTPA4195P |
|
|
|
|
Name : |
Mr. Yandapalle Venkatesh |
|
Designation : |
Company Secretary |
|
Address : |
101, Lakshmi Enclave, Vidyaranyapura Post, Bangalore – 560097, Karnataka, India |
|
Date of Birth/Age : |
06.12.1966 |
|
Date of Appointment : |
01.02.2009 |
|
PAN No.: |
ABAPY3222B |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Meiji Seika Pharma Company Limited |
|
40155596 |
|
Meiji Holdings Company Limited |
|
10 |
|
P. T. Meiji Indonesian Pharmaceutical Industries |
|
1 |
|
Thai Meiji Pharamaceuticals Company Limited |
|
1 |
|
Tedec Meiji
Farma, South Africa |
|
2 |
|
Meiji Seika Europe B. V |
|
2 |
|
Meiji Pharma Korea Company Limited |
|
2 |
|
Total |
|
40155614 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pharmaceutical Products. (Registered Activity and also Confirmed by Management) |
||||
|
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||||
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Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
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|
||||
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Agencies Held : |
Not Available |
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|
||||
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Exports : |
|
||||
|
Products : |
|
||||
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Countries : |
|
||||
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|
||||
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Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Terms : |
|||||
|
Selling : |
L/C, Cheque and Credit |
||||
|
|
|
||||
|
Purchasing : |
L/C, Cheque and Credit |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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|
|
||||||||||||||||||||||
|
Customers : |
End Users
|
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|
No. of Employees : |
1200 (Approximately) |
||||||||||||||||||||||
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|
|
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Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
|
|
Financial Instituted : |
|
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
U B City, Canberra Block, 12th And 13th Floor, Vittal Mallya Road, Bangalore – 560001, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9118A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding companies : |
·
Med Holdings, United Kingdom |
|
|
|
|
Subsidiary companies : |
·
Medreich Plc, United Kingdom ·
Medreich Life Care Limited (CIN No.
U24230KA2008PLC062782) ·
Genovo Development Services Limited (CIN No-U24230KA2008PLC046164) |
|
|
|
|
Fellow Subsidiary companies : |
·
Medreich SA (Pty) Limited, South Africa ·
Inopharm Limited, United Kingdom
·
Medreich Far East Limited, Hong Kong
|
|
|
|
|
Joint venture : |
·
Adcock Ingram Limited, (CIN No.
U24232KA2007PLC042361) ·
laboratories Torlan, South Africa |
|
|
·
|
|
Enterprises which are
owned, or have significant influence of or are partners with
Key management personnel and their relatives : |
·
Meiji Seika Pharma Company Limited, Japan
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
48634259 |
Equity Shares |
INR 10/- each |
INR 486.343 Million |
|
14196162 |
Preference Shares |
INR 78.8/- each |
INR 1118.657 Million |
|
|
Total |
|
INR 1605.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40155614 |
Equity Shares |
INR 10/- each |
INR 401.556 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
401.556 |
401.556 |
401.556 |
|
(b) Reserves & Surplus |
4552.628 |
3942.854 |
3766.952 |
|
(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 |
4954.184 |
4344.410 |
4168.508 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1894.901 |
1034.935 |
1418.850 |
|
(b) Deferred tax liabilities
(Net) |
228.303 |
181.520 |
119.182 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
33.871 |
32.028 |
15.159 |
|
Total
Non-current Liabilities |
2157.075 |
1248.483 |
1553.191 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2697.726 |
2046.293 |
1628.650 |
|
(b) Trade payables |
1294.900 |
1483.865 |
1537.972 |
|
(c) Other current liabilities |
863.817 |
767.637 |
729.356 |
|
(d) Short-term provisions |
33.023 |
34.661 |
56.795 |
|
Total
Current Liabilities |
4889.466 |
4332.456 |
3952.773 |
|
|
|
|
|
|
TOTAL |
12000.725 |
9925.349 |
9674.472 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4596.088 |
2253.278 |
1436.426 |
|
(ii) Intangible Assets |
34.199 |
30.057 |
30.463 |
|
(iii) Capital work-in-progress |
761.063 |
2424.623 |
2370.846 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1597.927 |
1597.927 |
1680.125 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
480.752 |
412.980 |
650.862 |
|
(e) Other Non-current assets |
24.650 |
28.205 |
43.907 |
|
Total
Non-Current Assets |
7494.679 |
6747.070 |
6212.629 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
995.672 |
702.101 |
897.772 |
|
(c) Trade receivables |
2366.597 |
2091.690 |
2095.669 |
|
(d) Cash and cash equivalents |
845.041 |
122.019 |
196.273 |
|
(e) Short-term loans and
advances |
272.666 |
262.061 |
267.197 |
|
(f) Other current assets |
26.070 |
0.408 |
4.932 |
|
Total
Current Assets |
4506.046 |
3178.279 |
3461.843 |
|
|
|
|
|
|
TOTAL |
12000.725 |
9925.349 |
9674.472 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
7782.507 |
6802.477 |
6830.79 |
|
|
Other Income |
157.293 |
51.788 |
79.32 |
|
|
TOTAL
|
7939.800 |
6854.265 |
6910.110 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
4573.540 |
3868.977 |
4145.997 |
|
|
Purchases of Stock-in-Trade |
620.932 |
511.794 |
384.172 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(26.521) |
112.954 |
(138.603) |
|
|
Employees benefits expense |
807.535 |
784.374 |
844.696 |
|
|
Other expenses |
868.501 |
872.932 |
916.454 |
|
|
Prior Period items |
0.000 |
113.223 |
34.903 |
|
|
CSR Expenditure |
6.320 |
0.000 |
0.000 |
|
|
TOTAL |
6850.307 |
6264.254 |
6187.619 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1089.493 |
590.011 |
722.491 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
91.291 |
98.344 |
83.947 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
998.202 |
491.667 |
638.544 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
207.089 |
170.127 |
131.251 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
791.113 |
321.540 |
507.293 |
|
|
|
|
|
|
|
Less |
TAX |
181.339 |
145.638 |
248.206 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
609.774 |
175.902 |
259.087 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2008.292 |
1832.390 |
1626.396 |
|
|
|
|
|
|
|
Less: |
Adjustment
on account of Depreciation and Demerger |
0.000 |
0.000 |
30.199 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Dividend |
0.000 |
0.000 |
22.888 |
|
|
Tax on Dividend |
0.000 |
0.000 |
0.006 |
|
|
Total
(M) |
0.000 |
0.000 |
22.894 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
2618.066 |
2008.292 |
1832.390 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
5299.705 |
4980.009 |
4894.487 |
|
|
TOTAL
EARNINGS |
5299.705 |
4980.009 |
4894.487 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1926.593 |
1103.438 |
1578.202 |
|
|
Capital Goods |
376.227 |
154.889 |
126.745 |
|
|
TOTAL
IMPORTS |
2302.820 |
1258.327 |
1704.947 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
15.19 |
4.38 |
7.58 |
Expected Sales (2017-2018): INR 8000.000 Million
The above information has been parted by Mr. Ravindra Naik (DGM Finance)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
516.206 |
467.390 |
304.418 |
|
Net cash flows from (used in) operations |
252.599 |
644.431 |
1244.533 |
|
Net cash flows from (used in) operating activity |
106.270 |
561.277 |
1057.691 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
110.99 |
112.23 |
111.98 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.29 |
3.25 |
3.26 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
90.99 |
123.63 |
123.92 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.09 |
0.84 |
0.80 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.20 |
0.13 |
0.19 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.61 |
0.59 |
0.59 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.03 |
0.82 |
0.80 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.99 |
1.00 |
0.95 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.09 |
1.08 |
0.92 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
11.93 |
6.00 |
8.61 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
7.84 |
2.59 |
3.79 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
5.08 |
1.77 |
2.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
12.31 |
4.05 |
6.22 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.92 |
0.73 |
0.88 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.72 |
0.57 |
0.65 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.41 |
0.44 |
0.43 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
12.72 |
8.84 |
8.35 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.92 |
0.73 |
0.88 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
401.556 |
401.556 |
401.556 |
|
Reserves & Surplus |
3766.952 |
3942.854 |
4552.628 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
4168.508 |
4344.410 |
4954.184 |
|
|
|
|
|
|
long-term borrowings |
1418.850 |
1034.935 |
1894.901 |
|
Short term borrowings |
1628.650 |
2046.293 |
2697.726 |
|
Current maturities of
long-term debts |
304.418 |
467.390 |
516.206 |
|
Total
borrowings |
3351.918 |
3548.618 |
5108.833 |
|
Debt/Equity
ratio |
0.804 |
0.817 |
1.031 |
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 |
6830.790 |
6802.477 |
7782.507 |
|
|
|
(0.414) |
14.407 |
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 |
6830.790 |
6802.477 |
7782.507 |
|
Profit |
259.087 |
175.902 |
609.774 |
|
|
3.79% |
2.59% |
7.84% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
401.556 |
401.556 |
|
(b) Reserves and Surplus |
|
6146.135 |
5640.519 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
1223.931 |
1029.658 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
6547.691 |
6042.075 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1900.276 |
1034.935 |
|
(b) Deferred tax liabilities (Net) |
|
333.011 |
285.845 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
34.003 |
33.095 |
|
Total Non-current
Liabilities (3) |
|
2267.290 |
1353.875 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
3269.633 |
2656.174 |
|
(b) Trade
payables |
|
1634.145 |
1834.911 |
|
(c) Other
current liabilities |
|
1101.366 |
1071.427 |
|
(d) Short-term
provisions |
|
56.499 |
110.771 |
|
Total Current
Liabilities (4) |
|
6061.643 |
5673.283 |
|
|
|
|
|
|
TOTAL |
|
16100.555 |
14098.891 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
5671.958 |
3398.622 |
|
(ii)
Intangible Assets |
|
1145.366 |
1159.929 |
|
(iii) Tangible assets
capital work-in-progress |
|
884.715 |
2494.658 |
|
(iv)
Intangible assets under development |
|
530.652 |
841.209 |
|
(b) Non-current Investments |
|
0.672 |
0.780 |
|
(c) Deferred tax assets (net) |
|
67.423 |
37.770 |
|
(d)
Long-term loans and advances |
|
580.495 |
494.923 |
|
(e) Other
Non-current assets |
|
42.613 |
44.821 |
|
Total Non-Current
Assets |
|
8923.894 |
8472.712 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
308.753 |
0.000 |
|
(b)
Inventories |
|
2091.879 |
1737.717 |
|
(c) Trade
receivables |
|
2641.412 |
2647.902 |
|
(d) Cash and
bank balances |
|
1534.218 |
736.072 |
|
(e)
Short-term loans and advances |
|
563.965 |
490.287 |
|
(f) Other
current assets |
|
36.434 |
14.201 |
|
Total
Current Assets |
|
7176.661 |
5626.179 |
|
|
|
|
|
|
TOTAL |
|
16100.555 |
14098.891 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
11341.100 |
11045.505 |
|
|
Other Income |
|
111.618 |
112.032 |
|
|
TOTAL |
|
11452.718 |
11157.537 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
5657.606 |
4869.728 |
|
|
Purchases of
Stock-in-Trade |
|
1125.888 |
1338.167 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(158.618) |
201.160 |
|
|
Employee benefit expense |
|
1340.914 |
1332.415 |
|
|
CSR expenditure |
|
6.320 |
11.561 |
|
|
Other expenses |
|
1467.265 |
1428.140 |
|
|
Exceptional items before tax |
|
257.867 |
0.000 |
|
|
TOTAL |
|
9697.242 |
9181.171 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
1755.476 |
1976.366 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
102.379 |
117.658 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1653.097 |
1858.708 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
481.707 |
397.095 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
1171.390 |
1461.613 |
|
|
|
|
|
|
|
Less |
TAX |
|
407.916 |
575.309 |
|
|
|
|
|
|
|
|
Total profit for period
before minority interest |
|
763.474 |
886.304 |
|
|
|
|
|
|
|
Less |
Profit/ (loss) minority interest |
|
192.020 |
214.423 |
|
|
|
|
|
|
|
|
Profit for the period |
|
571.454 |
671.880 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
19.01 |
22.07 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
Yes |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
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 |
Yes |
|
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 |
REVIEW OF THE COMPANY
PERFORMANCE:
During the year the company has achieved net sales of INR 7782.507 Million. Profit before interest, depreciation, Exceptional items and taxes were INR 1089.493 Million compared to INR 703.235 Million in the previous year. After providing for finance cost of INR 91.291 Million (INR 98.344 million in the previous year) and depreciation of INR 207.089 Million (INR 170.127 Million in the previous year) and exceptional items of NIL (INR 113.223 million Lakhs in the previous year) the profit before tax was INR 791.113 Million as against the previous years profit of INR 321.540 Million.
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B82481235 |
10443792 |
THE HONGKONG & SHANGHAI BANKING CORPORATION LIMITED |
13/08/2013 |
- |
- |
300000000.0 |
NO. 7, M G ROAD BANGALORE KA560001IN |
|
2 |
C65311334 |
80018741 |
STATE BANK OF MYSORE |
17/07/1997 |
31/08/2015 |
- |
2500000000.0 |
CORPORATE ACCOUNTS BRANCH M.G.ROAD BANGALORE KA560001IN |
|
3 |
G68722545 |
10359125 |
KOTAK MAHINDRA BANK LIMITED |
25/04/2012 |
13/04/2015 |
16/11/2017 |
325000000.0 |
22,GROUND FLOOR,ING VYSYA HOUSE, M.G.ROAD, BANGALOREKA560001IN |
|
4 |
G37603909 |
10447319 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
13/08/2013 |
17/01/2014 |
10/02/2017 |
756000000.0 |
NO. 7, M G ROAD BANGALORE KA560001IN |
|
5 |
G28838332 |
10454357 |
STANDARD CHARTERED BANK |
11/10/2013 |
23/02/2015 |
09/11/2016 |
1008000000.0 |
112,SERENITY,KORMANGALA INDUSTRIAL AREA5TH BLOCK, KORMANGALA BANGALOREKA560095IN |
|
6 |
C20059838 |
80007215 |
YES BANK LIMITED |
17/03/2005 |
10/01/2007 |
01/09/2014 |
250000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI, MUMBAI MH400018IN |
|
7 |
C09005554 |
10130502 |
DBS BANK LTD |
14/11/2008 |
- |
23/06/2014 |
240000000.0 |
UPPER GROUND FLOOR, BIRLA TOWERS25, BARAKHAMBA ROADNEW DELHIDL110001IN |
|
8 |
B40739914 |
10050036 |
EXPORT -IMPORT BANK OF INDIA |
12/03/2007 |
20/04/2010 |
24/05/2012 |
227350000.0 |
FLOOR21, CENTRE ONE BUILDING,WORLD TRADE CENTRE, CUFFEE PARADE, MUMBAIMH400005IN |
|
9 |
A00627208 |
80002084 |
STATE BANK OF MYSORE |
12/09/2000 |
- |
26/04/2006 |
0.0 |
SBM-INDUSTRIAL FINANCE BRANCH18, RAMANASHREE ARCADE BANGALOREKA560001IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against company not acknowledged as debt |
2.225 |
2.225 |
|
Guarantees |
312.869 |
399.907 |
|
Other money for which company is contingently liable |
47.548 |
24.473 |
FIXED ASSETS
Tangible Assets
· Buildings
· Office building
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Land
- Building
- Furniture and
Fixture
- Computer
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 65.13 |
|
|
1 |
INR 91.95 |
|
Euro |
1 |
INR 80.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUV |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.