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MIRA INFORM REPORT
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Report No. : |
500010 |
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Report Date : |
26.03.2018 |
IDENTIFICATION DETAILS
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Name : |
CONCORD BIOTECH LIMITED (w.e.f.07.11.2001) |
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Formerly Known
As : |
CONCORD PHARMACEUTICALS LIMITED (w.e.f.24.09.1985) SERVOMED PHARMACEUTICALS PRIVATE LIMITED |
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Registered
Office : |
1482-86, Trasad Road, Dholka, Ahmedabad - 387810, Gujarat |
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Tel. No.: |
91-2714-221904 / 222604 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
23.11.1984 |
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Com. Reg. No.: |
04-007440 |
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Capital
Investment / Paid-up Capital : |
INR 95.106 Million |
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CIN No.: [Company Identification
No.] |
U24230GJ1984PLC007440 |
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IEC No.: |
0888010109 |
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GST No.: |
24AAACC8514G1ZZ |
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TIN No.: |
24074800608 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACC8514G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is engaged in Research and Development, Manufacturing, Marketing and Selling of Active Pharmaceutical Ingredients, with focus on the fermentation, semi-synthesis and synthesis based products. [Registered Activity] |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 14800000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 1984 and is a biopharmaceutical company. It offers active pharmaceutical ingredients in the areas of immunosuppressant such as tacrolimus monohydrate, mycophenolate sodium and cyclosporine. The company also offers contract research and manufacturing services in the areas of fermentation and semi-synthetic molecules. For the financial year ended 2017, company has reported 16.55% growth in its revenue as compared to previous year revenue and has maintained strong profitability margin at 32.13% during the year under review. Rating continue to derive strength from company’s established track record of business operations marked by its healthy financial base along with adequate net worth position and strong debt coverage indicators. However, rating strength is partially offset by vulnerability of its operating margins to volatility in the raw material prices and its working capital intensive operations. Payments seems to be regular and as per commitment. In view of aforesaid, the company can be considered good for normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 26.03.2018.
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 DECLINED BY
|
Name : |
Mr. Tejas Patel |
|
Designation : |
Accounts Officer |
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Contact No.: |
91-79-66168711 |
LOCATIONS
|
Registered Office / Works : |
1482-86, Trasad Road, Dholka, Ahmedabad-387810, Gujarat, India |
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Tel. No.: |
91-2714-221904/ 222604 |
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Fax No.: |
91-2714-222504 |
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E-Mail : |
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Website : |
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Corporate Office : |
403, 4th Floor, Iscon Elegance, Near Prahalad Nagar Garden,
Cross Road, Opposite S. G. Highway, Ahmedabad – 380015, Gujarat, India |
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Tel. No.: |
91-79-66168711 |
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Fax No.: |
91-79-66168725 |
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Formulation Plant
Unit II: |
297 – 298/2P, At. Valthera, Taluka Dholka, District Ahmedabad-382225, Gujarat-India |
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Fax No.: |
91-2714-222504 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sudhir Jairam Vaid |
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Designation : |
Managing Director |
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Address : |
99, Basant Bahar Bunglows, Bopal, Ahmedabad - 380058, Gujarat, India |
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Date of Birth/Age : |
03.09.1952 |
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Date of Appointment : |
14.02.2011 |
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PAN No.: |
ABVPV9184E |
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DIN No.: |
00055967 |
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Name : |
Mr. Ankur Sudhirbhai Vaid |
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Designation : |
Managing Director |
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Address : |
99, Basant Bahar Bunglows, Bopal Bopat Ta, Daskroi, District Ahmedabad
- 380058, Gujarat, India |
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Date of Birth/Age : |
14.04.1982 |
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Qualification : |
Master of Business Administration-Finance, Bachelor of Chemical Engineering |
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Date of Appointment : |
04.12.2009 |
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DIN No.: |
01857225 |
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Name : |
Mr. Ravi Kapoor |
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Designation : |
Director |
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Address : |
202, Pravesh, 10 Mahadevnagar Society, Sardar Patel, Ahmedabad -
380014, Gujarat, India |
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Date of Birth/Age : |
25.07.1963 |
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Date of Appointment : |
15.12.2003 |
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PAN No.: |
ABJPK1504D |
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DIN No.: |
00003847 |
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Name : |
Mr. Amitabh Gajendra Thakore |
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Designation : |
Director |
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Address : |
B-301, Shiromani Flats Near Nehrunagar Circle, Satellite
Road, Ahmedabad – 380015, Gujarat, India |
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Date of Appointment : |
31.01.2017 |
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DIN No.: |
00016715 |
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Name : |
Mr. Utpal Hemendra Sheth |
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Designation : |
Director |
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Address : |
2901, 29th Floor, B Wing, Beaumonde, A.S. Marathe Marg, PBD, Mumbai -
400025, Maharashtra, India |
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Date of Birth/Age : |
20.06.1971 |
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Date of Appointment : |
04.12.2009 |
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DIN No.: |
00081012 |
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Name : |
Mr. Rajiv Ambrish Agarwal |
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Designation : |
Director |
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Address : |
Chamaria Niwas, 3rd Floor, 41, Mahant Road, Vile Parle
(East), Mumbai -400057, Maharashtra, India |
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Date of Birth/Age : |
28.03.1971 |
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Qualification : |
B. Tech, Chemical Engineering |
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Date of Appointment : |
30.06.2008 |
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DIN No.: |
00379990 |
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Name : |
Mr. Rajeev Agrawal |
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Designation : |
Director |
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Address : |
E-67, Block-E, Kirti Nagar, New Delhi - 110015, India |
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Date of Birth/Age : |
27.02.1959 |
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Qualification : |
Chartered Accountant |
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Date of Appointment : |
07.07.2014 |
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DIN No.: |
00725108 |
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Name : |
Mr. Amit Varma |
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Designation : |
Director |
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Address : |
49/B, Aradhna Enclave, Sector-13, R K Puram, New Delhi-110065, India |
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Date of Birth/Age : |
15.09.1968 |
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Qualification : |
MBBS, MD |
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Date of Appointment : |
05.08.2016 |
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DIN No.: |
02241746 |
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Name : |
Ms. Bharti Khanna |
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Designation : |
Director |
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Address : |
E-256, Sarita Vihar, New Delhi -110076, India |
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Date of Birth/Age : |
09.06.1968 |
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Qualification : |
Master’s degree in Pharmaceutics, specialised in Marketing Management |
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Date of Appointment : |
31.01.2017 |
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DIN No.: |
05147844 |
KEY EXECUTIVES
|
Name : |
Mr. Tejas Patel |
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Designation : |
Accounts Officer |
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Name : |
Mr. Prakash Lalchand Sajnani |
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Designation : |
Company Secretary |
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Address : |
Flat No.6, 2nd Floor, Suryarath Flats, Behind Jhangiram Hospital, Kubernagar, Ahmedabad - 382340, Gujarat, India |
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Date of Birth/Age : |
06.05.1971 |
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Date of Appointment : |
15.02.2004 |
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PAN No.: |
AHHPS5622G |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
NOTE: SHAREHOLDERS DETAILS FILE ATTACHED
AS ON 29.08.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
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Promoters – Individual/ Hindu Undivided Family – Indian |
39.63 |
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Promoters – Body Corporate |
4.54 |
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Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
29.32 |
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Public/Other than promoters - Body Corporate |
26.51 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is engaged in Research and Development, Manufacturing, Marketing and Selling of Active Pharmaceutical Ingredients, with focus on the fermentation, semi-synthesis and synthesis based products. [Registered Activity] |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· Citi Bank N.A. First Floor, Kalapurnam, C. G. Road, Navrangpura, Ahmedabad-380009, Gujarat, India · Axis Bank Limited Trishul 3rd Floor Opp Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India |
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Facilities : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Heritage', 3rd Floor, Near Gujarat Vidhyapith, Opposite Ashram Road, Ahmedabad -380014, Gujarat, India |
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PAN No.: |
AABFD7919A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
9510564 |
Equity Shares |
INR 10/- each |
INR 95.106 Million |
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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 |
|
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|
(1)Shareholders' Funds |
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(a) Share Capital |
95.106 |
92.052 |
92.052 |
|
(b) Reserves and Surplus |
5088.770 |
3294.636 |
2684.136 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
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|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
5183.876 |
3386.688 |
2776.188 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
175.307 |
268.920 |
317.900 |
|
(b) Deferred tax liabilities (Net) |
177.206 |
135.532 |
112.852 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
7.983 |
5.540 |
4.555 |
|
Total Non-current
Liabilities (3) |
360.496 |
409.992 |
435.307 |
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(4)
Current Liabilities |
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|
(a) Short-term borrowings |
10.502 |
22.071 |
32.202 |
|
(b) Trade
payables |
291.823 |
238.126 |
172.786 |
|
(c) Other
current liabilities |
165.811 |
165.708 |
65.718 |
|
(d) Short-term
provisions |
24.933 |
262.501 |
190.099 |
|
Total Current
Liabilities (4) |
493.069 |
688.406 |
460.805 |
|
|
|
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|
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TOTAL |
6037.441 |
4485.086 |
3672.300 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
|
|
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|
(i)
Tangible assets |
1811.645 |
1095.049 |
1038.376 |
|
(ii)
Intangible Assets |
4.955 |
4.084 |
3.812 |
|
(iii) Tangible assets
capital work-in-progress |
94.349 |
702.559 |
185.232 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.320 |
5.564 |
5.564 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
11.921 |
59.593 |
31.582 |
|
(e) Other
Non-current assets |
3.344 |
3.111 |
2.428 |
|
Total Non-Current
Assets |
1926.534 |
1869.960 |
1266.994 |
|
|
|
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|
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(2) Current
assets |
|
|
|
|
(a)
Current investments |
1441.797 |
424.899 |
417.587 |
|
(b)
Inventories |
613.496 |
594.456 |
442.069 |
|
(c) Trade
receivables |
1790.155 |
1374.697 |
1081.008 |
|
(d) Cash and
bank balances |
14.434 |
10.412 |
286.405 |
|
(e) Short-term
loans and advances |
170.592 |
151.134 |
79.107 |
|
(f) Other
current assets |
80.433 |
59.528 |
99.130 |
|
Total
Current Assets |
4110.907 |
2615.126 |
2405.306 |
|
|
|
|
|
|
TOTAL |
6037.441 |
4485.086 |
3672.300 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
3218.847 |
2761.680 |
2385.344 |
|
|
Other Income |
30.810 |
45.836 |
55.069 |
|
|
TOTAL |
3249.657 |
2807.516 |
2440.413 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
635.372 |
675.477 |
584.313 |
|
|
Purchases of
Stock-in-Trade |
1.813 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(94.091) |
(43.548) |
(42.962) |
|
|
Employee benefit expense |
330.380 |
228.667 |
197.766 |
|
|
CSR expenditure |
1.450 |
0.000 |
0.000 |
|
|
Other expenses |
702.486 |
548.387 |
539.986 |
|
|
TOTAL |
1577.410 |
1408.983 |
1279.103 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1672.247 |
1398.533 |
1161.310 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
8.072 |
0.514 |
5.820 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1664.175 |
1398.019 |
1155.490 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
149.964 |
104.638 |
96.685 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1514.211 |
1293.381 |
1058.805 |
|
|
|
|
|
|
|
Less |
TAX |
480.024 |
420.859 |
356.304 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1034.187 |
872.522 |
702.501 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1295.378 |
964.779 |
992.607 |
|
|
TOTAL EARNINGS |
1295.378 |
964.779 |
992.607 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
165.853 |
365.520 |
177.876 |
|
|
Components and spare
parts |
9.154 |
3.725 |
20.794 |
|
|
Capital Goods |
20.155 |
112.389 |
19.035 |
|
|
TOTAL IMPORTS |
195.162 |
481.634 |
217.705 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
109.66 |
94.79 |
76.32 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
87.653 |
67.230 |
0.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
1242.550 |
971.104 |
1024.565 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
869.250 |
519.808 |
727.904 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
202.99 |
181.69 |
165.41 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.80 |
2.01 |
2.21 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
167.17 |
128.67 |
107.93 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.73 |
2.35 |
2.63 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.88 |
0.78 |
0.95 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.13 |
0.23 |
0.21 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.05 |
0.11 |
0.13 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.10 |
0.20 |
0.17 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.37 |
0.53 |
0.44 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
207.17 |
2720.88 |
199.54 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
32.13 |
31.59 |
29.45 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
17.13 |
19.45 |
19.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
19.95 |
25.76 |
25.30 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
8.34 |
3.80 |
5.22 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
7.09 |
2.94 |
4.26 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.86 |
0.76 |
0.76 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.88 |
3.89 |
3.80 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
8.34 |
3.80 |
5.22 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
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 |
92.052 |
92.052 |
95.106 |
|
Reserves & Surplus |
2684.136 |
3294.636 |
5088.770 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2776.188 |
3386.688 |
5183.876 |
|
|
|
|
|
|
Long-term borrowings |
317.900 |
268.920 |
175.307 |
|
Short term borrowings |
32.202 |
22.071 |
10.502 |
|
Current maturities of
long-term debts |
0.000 |
67.230 |
87.653 |
|
Total
borrowings |
350.102 |
358.221 |
273.462 |
|
Debt/Equity
ratio |
0.126 |
0.106 |
0.053 |
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 |
2385.344 |
2761.680 |
3218.847 |
|
|
|
15.777 |
16.554 |
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 |
2385.344 |
2761.680 |
3218.847 |
|
Profit/ (Loss) |
702.501 |
872.522 |
1034.187 |
|
|
29.45
% |
31.59
% |
32.13
% |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C63403992 |
10588016 |
Citi Bank N.A. |
11/08/2015 |
19/08/2015 |
- |
308175000.0 |
First Floor, Kalapurnam, C. G. RoadNavrangpuraAhmedabadGJ380009IN |
|
2 |
G70215165 |
10542701 |
CITI BANK N.A. |
09/12/2014 |
28/11/2017 |
- |
100000000.0 |
First Floor, Kalapurnam, C. G. RoadNavrangpuraAhmedabadGJ380009IN |
|
3 |
C52156015 |
90099613 |
Axis Bank Limited |
27/01/2003 |
16/04/2015 |
- |
160000000.0 |
TRISHUL 3RD FLOOR , OPP SAMARTHESHWAR TEMPLE,LAW GARDEN, ELLISBRIDGE,AHMEDABADGJ380006IN |
|
4 |
B74519752 |
10336441 |
CITIBANK N. A. |
23/01/2012 |
- |
12/04/2013 |
37000000.0 |
KALAPURNAM, MAIN C.G.ROAD,NAVARNGPURA,AHMEDABADGJ380009IN |
|
5 |
Y10189055 |
90099363 |
SYNDICATE BANK |
07/04/2001 |
- |
21/01/2003 |
2500000.0 |
ASHRAM ROAD BRANCHAHMEDABADGJ380009IN |
CORPORATE INFORMATION
The Company is a public company domiciled in India and incorporated under the provisions of Companies Act, 1956. The Company is engaged in research and development, manufacturing, marketing and selling of active pharmaceutical ingredients, with focus on the fermentation, semi-synthesis and synthesis based products.
REVIEW OF
BUSINESS OPERATIONS AND FUTURE PROSPECTS
While the API division continues to show steady growth the formulation plant has now been approved by the USFDA authorities. The sale of the formulation products has also commenced. The Board sees a great opportunity both in the domestic as well as international market both in API as well formulation business.
CONTINGENT
LIABILITIES:
(INR in million)
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Claims against company not acknowledged as debt |
1.367 |
5.486 |
|
Guarantees |
32.237 |
32.237 |
|
|
|
|
|
Total |
33.604 |
37.723 |
FIXED ASSETS:
Tangible Asset:
· Building
· Plant and Machinery
· Laboratory Equipment
· Office Equipment
· Furniture and Fixture
· Computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.13 |
|
UK Pound |
1 |
INR 91.96 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
IND |
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.