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|
MIRA INFORM REPORT
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Report No. : |
500197 |
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Report Date : |
26.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
KOPRAN RESEARCH LABORATORIES LIMITED |
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Registered
Office : |
1076, Dr. E. M. Moses Road, Parijat House, Worli, Mumbai – 400018,
Maharashtra |
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Tel. No.: |
91-22-43661111 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
12.08.1986 |
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Com. Reg. No.: |
11-040601 |
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Capital
Investment / Paid-up Capital : |
INR 200.000 Million |
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CIN No.: [Company Identification
No.] |
U24230MH1986PLC040601 |
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IEC No.: [Import-Export Code No.] |
Not Available |
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GSTN : [Goods & Service Tax Registration
No.] |
27AAACK3198E1ZJ |
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TIN No.: |
27130329337 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACK3198E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is an emerging research organisation with particular interests in the areas of drug discovery, polymer technology and synthesis of new molecules. Also carry the business of Manufacturing API and Bulk drug. [Registered Activity] |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a 100% subsidiary of the “KOPRAN LIMITED”, and it is an
emerging research organization with particular interest in the areas of drug
discovery, polymer technology and synthesis of new molecules. As per the financials of March 2017, the company has registered a
growth of 9.15% in its revenue as compared to its previous year’s revenue and
has reported good profit margin of 5.94% under review. Rating takes into consideration the company’s established track record
of business operations marked by sound networth base along with strong debt
coverage indicators and decent liquidity position. Rating also takes into account the extensive experienced of its
promoters in the pharmaceuticals industry and support from their group
companies. Further, the company has reported earnings per share of INR 4.44
against its face value of INR 10. However, rating strength is partially offset by working capital
intensive operations. Payments terms seems to be slow but correct. In view of aforesaid, the subject can be considered for business
dealings with some caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating= BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
14.02.2018 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating= A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
14.02.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 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 DENIED
Management Non-Cooperative (91-22-43661111 / 91-9422594344)
91-2145-251101 – Continuously Ringing
LOCATIONS
|
Registered Office : |
1076, Dr. E. M. Moses Road, Parijat House, Worli, Mumbai – 400018,
Maharashtra, India |
|
Tel. No.: |
91-22-43661111 |
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Fax No.: |
91-22-24950363 |
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E-Mail : |
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Website : |
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Factory : |
K-4/4, Additional M.I.D.C., At/Post Birwadi, Taluka: Mahad, District: Raigad – 402302, Maharashtra, India |
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Tel. No.: |
91-2145-251101-04 |
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Fax No.: |
91-2145-251100 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Chandra Mohan Singhi |
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Designation : |
Whole-Time Director |
|
Address : |
11/161, Kamal Park Building, Veer Savarkar Marg, Mahim, Mumbai –
400016, Maharashtra, India |
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Date of Birth/Age : |
04.08.1963 |
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Date of Appointment : |
24.06.2015 |
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PAN No.: |
AADPS3828B |
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DIN No.: |
01793293 |
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|
|
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Name : |
Ms. Vandana Surendra Somani |
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Designation : |
Director |
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Address : |
86 A, Shreeniketan, 4th Floor, Netaji Subhash Road, Mumbai – 400002, Maharashtra,
India |
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Date of Birth/Age : |
10.05.1956 |
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Date of Appointment : |
18.09.2015 |
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PAN No.: |
AMLPS0806K |
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DIN No.: |
01218254 |
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Name : |
Ms. Sunita Banerji |
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Designation : |
Director |
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Address : |
1011/1012, 10th Floor, Sheffield Towers Lokhandwala
Complex, 2nd X Road, Andheri (West), Mumbai – 400053, Maharashtra,
India |
|
Date of Birth/Age : |
04.02.1958 |
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Date of Appointment : |
01.03.2016 |
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DIN No.: |
02476075 |
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Name : |
Mr. Rakesh Arunkumar Doshi |
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Designation : |
Additional Director |
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Address : |
1401, E-Wing, Kukreja Palace, Garodia Nagar, Vallabh Baug
Lane, Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
|
Date of Appointment : |
14.11.2017 |
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DIN No.: |
00359832 |
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|
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Name : |
Ms. Mamta Ashok Biyani |
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Designation : |
Additional Director |
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Address : |
604/ B / Jeevan Vihar, Manav Mandir Road, Malabar Hill,
Mumbai – 400006, Maharashtra, India |
|
Date of Appointment : |
14.11.2017 |
|
DIN No.: |
01850136 |
KEY EXECUTIVES
|
Name : |
Kalavara Bhujanga Shetty |
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Designation : |
Chief Financial Officer |
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Address : |
B-3, Venkatesh Darshan, Plot No. 18, Mahatma Phule Road, Near Bhoirwadi Telephone Exchange, Dombivali, Thane – 421202, Maharashtra, India |
|
Date of Appointment : |
01.03.2016 |
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PAN No.: |
ALRPS0688L |
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Name : |
Ms. Hansa Shivratan Gaggar |
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Designation : |
Company Secretary |
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Address : |
B-7, Jas CHSL, Plot No. 45 & 46, Virat Nagar, Virar (West), District Palghar – 401303, Maharashtra, India |
|
Date of Appointment : |
19.05.2016 |
|
PAN No.: |
AKPPG3216M |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Kopran Limited, India |
|
19899990 |
|
Surendra Somani |
|
5 |
|
Rajendra Somani |
|
1 |
|
Adarsh Somani |
|
1 |
|
Susheel G. Somani |
|
1 |
|
H.P. Vyas |
|
1 |
|
Sanjay Parikh |
|
1 |
|
Kopran Lifesciences Limited, India |
|
100000 |
|
|
|
|
|
Total |
|
20000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters [Bodies
corporate] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is an emerging research organisation with particular interests in the areas of drug discovery, polymer technology and synthesis of new molecules. Also carry the business of Manufacturing API and Bulk drug. [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 Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
GMJ and Company Chartered Accountants |
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Address : |
3rd and 4th Floor, Vaastu Darshan, B' Wing, Above Central Bank of India, Azad Road, Andheri (East), Mumbai – 400069, Maharashtra, India |
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PAN No.: |
AAAFG2163L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
· Kopran Limited |
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Fellow subsidiaries
: |
· Kopran Life science Limited |
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Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
· Oricon Enterprises Limited · Kopran Laboratories Limited · Oricon Properties Private Limited · Oriental Containers limited |
CAPITAL STRUCTURE
AS ON 31.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
|
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|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
200.000 |
200.000 |
90.000 |
|
(b) Reserves & Surplus |
877.880 |
788.988 |
(163.026) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1077.880 |
988.988 |
(73.026) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
110.108 |
66.400 |
64.099 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
20.110 |
17.572 |
15.783 |
|
Total Non-current
Liabilities (3) |
130.218 |
83.972 |
79.882 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
279.468 |
311.057 |
329.714 |
|
(b) Trade
payables |
181.789 |
243.724 |
328.774 |
|
(c) Other
current liabilities |
151.811 |
119.693 |
1244.627 |
|
(d) Short-term
provisions |
0.000 |
0.289 |
0.273 |
|
Total Current
Liabilities (4) |
613.068 |
674.763 |
1903.388 |
|
|
|
|
|
|
TOTAL |
1821.166 |
1747.723 |
1910.244 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
944.157 |
975.547 |
1024.024 |
|
(ii)
Intangible Assets |
6.927 |
9.236 |
11.545 |
|
(iii)
Capital work-in-progress |
18.480 |
29.417 |
10.432 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
7.669 |
8.691 |
3.917 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
977.233 |
1022.891 |
1049.918 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
354.704 |
307.130 |
312.464 |
|
(c) Trade
receivables |
403.899 |
387.181 |
505.954 |
|
(d) Cash
and cash equivalents |
50.071 |
1.204 |
0.076 |
|
(e) Short-term
loans and advances |
35.259 |
29.317 |
41.832 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
843.933 |
724.832 |
860.326 |
|
|
|
|
|
|
TOTAL |
1821.166 |
1747.723 |
1910.244 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1497.575 |
1372.052 |
0.975 |
|
|
Other Income |
20.917 |
16.539 |
0.010 |
|
|
TOTAL |
1518.492 |
1388.591 |
0.985 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
935.556 |
951.592 |
0.453 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1.455) |
(4.208) |
0.000 |
|
|
Employee benefit expense |
122.564 |
119.724 |
0.007 |
|
|
Other expenses |
252.302 |
252.634 |
0.163 |
|
|
Exceptional items |
0.000 |
0.000 |
189.241 |
|
|
TOTAL |
1308.967 |
1319.742 |
189.864 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
209.525 |
68.849 |
(188.879) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
40.651 |
25.662 |
0.002 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
168.874 |
43.187 |
(188.881) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
79.982 |
79.673 |
0.046 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
88.892 |
(36.486) |
(188.927) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
88.892 |
(36.486) |
(188.927) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
704.377 |
533.680 |
0.000 |
|
|
TOTAL EARNINGS |
704.377 |
533.680 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
716.112 |
630.034 |
0.000 |
|
|
Capital Goods |
0.234 |
2.169 |
0.000 |
|
|
TOTAL IMPORTS |
716.346 |
632.204 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
4.44 |
(2.20) |
(37.05) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.319 |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
110.405 |
(1008.586) |
728.852 |
|
Net cash flows from (used in) operating activities |
110.405 |
(1008.586) |
728.755 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
98.44 |
103.00 |
189408.42 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.71 |
3.54 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
70.92 |
93.48 |
264906.20 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.59 |
0.22 |
(0.60) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.22 |
0.07 |
(0.18) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.40 |
0.42 |
1.03 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.36 |
0.38 |
(5.39) |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.57 |
0.68 |
(26.06) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.90 |
1.03 |
(14.32) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.15 |
2.68 |
(94439.50) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
5.94 |
(2.66) |
(19377.13) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.88 |
(2.09) |
(9.89) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
8.25 |
(3.69) |
258.71 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.38 |
1.07 |
0.45 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.80 |
0.62 |
0.29 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.59 |
0.57 |
(0.04) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.95 |
1.89 |
4.38 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.38 |
1.07 |
0.45 |
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 |
90.000 |
200.000 |
200.000 |
|
Reserves & Surplus |
(163.026) |
788.988 |
877.880 |
|
Net
worth |
(73.026) |
988.988 |
1077.880 |
|
|
|
|
|
|
Long-term borrowings |
64.099 |
66.400 |
110.108 |
|
Short term borrowings |
329.714 |
311.057 |
279.468 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.319 |
|
Total
borrowings |
393.813 |
377.457 |
389.895 |
|
Debt/Equity
ratio |
(5.393) |
0.382 |
0.362 |
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 |
0.975 |
1372.052 |
1497.575 |
|
|
|
140623.282 |
9.149 |
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 |
0.975 |
1372.052 |
1497.575 |
|
Profit/ (Loss) |
(188.927) |
(36.486) |
88.892 |
|
|
(19377.13
%) |
(2.66
%) |
5.94
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The Company is an emerging research organisation with particular interests in the areas of drug discovery, polymer technology and synthesis of new molecules. Also carry the business of Manufacturing API & Bulk drug. KRLL is a wholly owned subsidiary of Kopran Limited
OPERATIONS OF THE COMPANY
The company achieved total revenue of INR 1518.500 million in the current year as against total revenue of INR 1388.600 million in the previous year.
During the year, the company earned net profit of INR 88.900 million (Previous Year: Loss of INR 36.500 million).
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G20412425 |
100028872 |
STATE BANK OF INDIA - LEAD BANK |
09/05/2016 |
14/10/2016 |
- |
625000000.0 |
COMMERCIAL BRANCH, N G N VAIDYA MARG, BANK STREET, HORNIMAN CIRCLE MUMBAI MH400001IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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 91.96 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
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.