MIRA
INFORM REPORT
|
Report No. : |
507200 |
|
Report Date : |
05.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
SERUM INSTITUTE OF INDIA PRIVATE LIMITED (w.e.f. 21.10.2015) |
|
|
|
|
Formerly Known
As : |
SERUM INSTITUTE OF INDIA LIMITED SERUM INSTITUTE OF INDIA PRIVATE LIMITED |
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Registered
Office : |
212/2, Off Soli Poonawalla Road, Hadapsar, Pune – 411028, Maharashtra |
|
Tel. No.: |
91-20-26993900/ 26993904 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
22.05.1984 |
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|
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Com. Reg. No.: |
11-032945 |
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Capital
Investment / Paid-up Capital : |
INR 48.200 Million |
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CIN No.: [Company Identification
No.] |
U80903PN1984PTC032945 |
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|
|
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IEC No.: [Import-Export Code No.] |
0388093145 |
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TIN No.: |
27810317517 |
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|
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PAN No.: [Permanent Account No.] |
AABCS4225M |
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|
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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|
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GSTN : [Goods & Service Tax
Registration No.] |
27AABCS4225M1Z7 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
· Generates renewable wind energy · Manufacturer and exporter of vaccines (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++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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Comments : |
Subject is a well-established company incorporated in the year 1984. It is an established company having an excellent track record. It is a manufacturer of immune-biological drugs including vaccines in India. The company is managed by Poonawalla group. It is the world’s largest vaccine producer. For the financial year 2017, the company has marginal declined its revenue from operations as compared to previous year but maintained healthy profit margin of 45%. The rating takes into consideration strong financial risk profile of the company marked by healthy networth base and negligible debt level along with comfortable liquidity position. Rating also derives strength from its highly-experienced promoters and professionally-qualified management, long-standing affiliations with international agencies and quality certifications for its manufacturing facilities and established track records of the company. Trade relations are reported as fair. Payments are seems to be regular and as per commitments. In view of established market position, 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
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term rating : AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest credit risk |
|
Date |
03.09.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term rating : A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
03.09.2017 |
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
31-03-2018.
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 05.05.2018
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 BY
|
Name : |
Mr. Rakesh |
|
Designation : |
Sales Department |
|
Contact No.: |
91-20-26993900 |
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|
|
|
Name : |
Mr. Ravindranthan |
|
Designation : |
General Manager |
|
Contact No.: |
91-20-26602673 |
|
Date : |
03.05.2018 |
LOCATIONS
|
Registered Office/
Pharmacovigilance Division / : |
212/2, Off Soli Poonawalla Road, Hadapsar, Pune – 411028, Maharashtra,
India |
|
Tel. No.: |
91-20-26993900/ 26993904/ 26137221/ 26993900/ 26602673 |
|
Fax No.: |
91-20-26993921/ 26133228 |
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E-Mail : |
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|
Website : |
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Corporate
Office: |
1401-1404, Ansal Tower, 38, Nehru Place, New Delhi-110019, India |
|
Tel. No.: |
91-11-26470327 |
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Fax No.: |
91-11-26466972 |
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|
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Domestic Marketing Division : |
501, Dalamal Tower, 211, Nariman Point, Mumbai – 400021, Maharashtra,
India |
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Tel. No.: |
91-22-22840370 |
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Fax No.: |
91-22-22044389 |
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E-Mail : |
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Finance Division: |
Sarosh Bhavan, 16-B/1, Dr. Ambedkar Road, Pune – 411001, Maharashtra,
India |
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Tel. No.: |
91-20-26137221 / 226 |
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Fax No.: |
91-20-26133228 |
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E-Mail : |
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Administrative Office : |
Mittal Court, 3rd Floor, A Wing, Dr. Ambedkar Road, Pune – 411001, Maharashtra, India |
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|
|
|
Wind Mill Power
Project : |
Located at : · Davangere, Karnataka, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Dr. Cyrus Soli Poonawalla |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
11, Poonawalla Park, Pune – 411 037, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1941 |
|
Date of Appointment : |
01.07.2012 |
|
PAN No.: |
AAXPP9204A |
|
DIN No.: |
00044650 |
|
|
|
|
Name : |
Mr. Adar Cyrus Poonawalla |
|
Designation : |
Whole Time Director |
|
Address : |
11, Poonawalla Park, Pune – 411037, Maharashtra, India |
|
Date of Birth/Age : |
14.01.1981 |
|
Qualification : |
B.B.A.(Finance) UK |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
AFEPP9955N |
|
DIN No.: |
00044815 |
|
|
|
|
Name : |
Dr. Rajeev Mhalasakant Dhere |
|
Designation : |
Whole Time Director |
|
Address : |
Flat No. 3, Mahalaxmi Niwas, 146, Shaniwar Peth, Pune – 411030, Maharashtra, India |
|
Date of Birth/Age : |
11.11.1954 |
|
Date of Appointment : |
07.08.2012 |
|
DIN No: |
05174953 |
|
|
|
|
Name : |
Dr. Satish Damodar Ravetkar |
|
Designation : |
Whole Time Director |
|
Address : |
4, Sadashanti Apartments, Prabhat Road, Lane No 9a, Pune - 411004, Maharashtra, India |
|
Date of Birth/Age : |
14.07.1951 |
|
Date of Appointment : |
07.08.2012 |
|
DIN No: |
05175036 |
|
|
|
|
Name : |
Mr. Satish Ramchandra Mundra |
|
Designation : |
Whole Time Director |
|
Address : |
401, Clover Court, Opposite Guruprasad Society, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
04.06.1943 |
|
Qualification : |
M.Com. |
|
Date of Appointment : |
01.04.2013 |
|
PAN No.: |
ABFPM7101E |
|
DIN No.: |
00416654 |
|
|
|
|
Name : |
Dr. Suresh Sahkaram Jadhav |
|
Designation : |
Whole Time Director |
|
Address : |
16, Sadhana Society, Near Akashwani, Pune – 411028, Maharashtra, India |
|
Date of Birth/Age : |
24.01.1950 |
|
Qualification : |
M. Pharm, Ph D |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
ABAPJ9475D |
|
DIN No.: |
00056701 |
|
|
|
|
Name : |
Mrs. Natasha Adar Poonawalla |
|
Designation : |
Whole-time Director |
|
Address : |
11, Gidney Park, Pune-411037, Maharashtra, India |
|
Date of Appointment: |
30.06.2016 |
|
DIN No.: |
01264082 |
|
|
|
|
Name : |
Mr. Behroze Zavareh Poonawalla |
|
Designation : |
Director |
|
Address : |
12, Poonawalla Park, Pune – 411037, Maharashtra, India |
|
Date of Birth/Age : |
08.12.1946 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
01.02.1986 |
|
DIN No.: |
00044877 |
|
|
|
|
Name : |
Mr. Zavareh Soli Poonawalla |
|
Designation : |
Director |
|
Address : |
12, Poonawalla Park, Pune – 411 037, Maharashtra, India |
|
Date of Birth/Age : |
04.12.1943 |
|
Qualification : |
B.com |
|
Date of Appointment: |
01.07.2007 |
|
PAN No.: |
AAJPP5268N |
|
DIN No.: |
00044760 |
|
|
|
|
Name : |
Dr. (Mrs.) Mrudula Arvind Phadke |
|
Designation : |
Director |
|
Address : |
181, Buena Vista Society, Jagannath Bhosale Marg, Near Mantralaya, Mumbai – 400021, Maharashtra, India |
|
Date of Birth/Age : |
22.12.1944 |
|
Qualification : |
M.D., D.C.H. |
|
Date of Appointment : |
25.08.2008 |
|
DIN No: |
01959083 |
KEY EXECUTIVES
|
Name : |
Mr. Adar Cyrus Poonawalla |
|
Designation : |
Chief Executive Officer |
|
Address : |
11, Poonawalla Park, Pune – 411037, Maharashtra, India |
|
Date of Birth/Age : |
14.01.1981 |
|
Qualification : |
B.B.A.(Finance) UK |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
AFEPP9955N |
|
|
|
|
Name : |
Firdaus Jal Dastoor |
|
Designation : |
Company Secretary |
|
Address : |
15, Clover Park, 49, Viman Nagar, Yerwada, Pune – 411014, Maharashtra, India |
|
Date of Appointment : |
23.09.2016 |
|
PAN No.: |
ABAPD7733Q |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Adar Cyrus Poonawalla |
|
557600 |
|
Adar Cyrus Poonawalla Jointly with Dr. Cyrus Soli Poonawalla |
|
6708 |
|
Adurjee and Bros Private Limited |
|
32567 |
|
Chanda Investment And Trading Company Private Limited |
|
40 |
|
Corpint Investments Private Limited |
|
40 |
|
Cyrus Soli Poonawalla |
|
252615 |
|
Fortune Intercontinental Private Limited |
|
40 |
|
Poonawalla Investments And Industries Private Limited |
|
3244617 |
|
Zavareh Soli Poonawalla Jointly with Yohan Zavareh Poonawalla |
|
240963 |
|
Master. Cyrus Adar Poonawalla |
|
250 |
|
Cyrus S Poonawalla (Managing Trustee of Cyrus Poonawalla Family Trust) |
|
481063 |
|
Naukhal Investment Private Limited |
|
1000 |
|
Apoorva Realtors and Finvest Private Limited |
|
750 |
|
Chakan Investment Private Limited |
|
1000 |
|
Total |
|
|
Equity Share Break up (Percentage of Total Equity)
As on 08.08.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
16.96 |
|
Promoters (Body corporate) |
67.33 |
|
Promoters (Others - Managing Trustee - Cyrus Poonawalla Family Trust) |
9.98 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
5.00 |
|
Public/Other than promoters (Body corporate) |
0.73 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
· Generates renewable wind energy · Manufacturer and exporter of vaccines (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 : |
Information denied by the management |
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Bankers : |
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Auditors : |
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|
Name : |
Patki and Soman Chartered Accountants |
|
Address : |
101/102 Parmesh Plaza, 1213, Sadashiv Peth, Near Hatti Ganpati, Pune – 4110030, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFP3742Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
Poonawalla Investments and Industries Private Limited CIN No.: U65993MH1974PTC017311 |
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Associates : |
· Poonawalla Aviation Private Limited CIN No.: U35301PN2005PTC020721 · Benison Finvest Private Limited CIN No.: U65993PN1993PTC070591 |
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|
Subsidiaries Companies
: |
· Serum International BV · Bilthoven Biologicals BV |
|
|
|
|
Other related
parties : |
· Poonawalla Estates Stud And Agri Farm Private Limited · Naukhal Investment Private Limited · Andman Finance and Investment Private Limited · Poonawalla Shares and Securities Private Limited · Cyza Chem Private Limited · Adurjee and Bros Private Limited · Agnimitra Trading and Finance Private Limited · Amron Realtors Private Limited · Fortune Intercontinental Private Limited |
CAPITAL STRUCTURE
As on 08.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
54750000 |
Equity Shares |
INR 10/- each |
INR 547.500 Million |
|
250000 |
10% Redeemable Non-cumulative Preference Shares |
INR 10/- each |
INR 2.500 Million |
|
|
Total |
|
INR 550.000 Million
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4819253 |
Equity Shares |
INR 10/- each |
INR 48.193 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 |
48.200 |
48.200 |
48.192 |
|
(b) Reserves & Surplus |
118101.800 |
97541.800 |
77760.399 |
|
(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) |
118150.000 |
97590.000 |
77808.591 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
880.000 |
800.000 |
741.624 |
|
(c) Other long term
liabilities |
170.000 |
170.000 |
165.896 |
|
(d) long-term provisions |
410.000 |
360.000 |
309.000 |
|
Total
Non-current Liabilities (3) |
1460.000 |
1330.000 |
1216.520 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
130.000 |
990.000 |
404.457 |
|
(b) Trade payables |
1100.000 |
730.000 |
764.157 |
|
(c) Other current liabilities |
1000.000 |
4810.000 |
4581.918 |
|
(d) Short-term provisions |
3030.000 |
2430.000 |
17800.486 |
|
Total
Current Liabilities (4) |
5260.000 |
8960.000 |
23551.018 |
|
|
|
|
|
|
TOTAL |
124870.000 |
107880.000 |
102576.129 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
13220.000 |
11500.000 |
12208.770 |
|
(ii) Intangible Assets |
320.000 |
390.000 |
206.383 |
|
(iii) Capital work-in-progress |
5460.000 |
6020.000 |
3526.758 |
|
(iv) Intangible assets under
development |
3740.000 |
2790.000 |
2390.502 |
|
(b) Non-current Investments |
54060.000 |
39780.000 |
40091.655 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
380.000 |
360.000 |
208.716 |
|
(e) Other Non-current assets |
10390.000 |
9270.000 |
7942.164 |
|
Total
Non-Current Assets |
87570.000 |
70110.000 |
66574.948 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
15640.000 |
11840.000 |
1894.791 |
|
(b) Inventories |
11060.000 |
10340.000 |
9280.882 |
|
(c) Trade receivables |
5370.000 |
7210.000 |
5813.891 |
|
(d) Cash and cash equivalents |
1440.000 |
4080.000 |
726.868 |
|
(e) Short-term loans and
advances |
300.000 |
0.000 |
17071.378 |
|
(f) Other current assets |
3490.000 |
4300.000 |
1213.371 |
|
Total
Current Assets |
37300.000 |
37770.000 |
36001.181 |
|
|
|
|
|
|
TOTAL |
124870.000 |
107880.000 |
102576.129 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
40930.000 |
43800.000 |
37370.652 |
|
|
Other Income |
4780.000 |
2730.000 |
2020.830 |
|
|
TOTAL
|
45710.000 |
46530.000 |
39391.482 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
5160.000 |
6880.000 |
5600.749 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(400.000) |
(480.000) |
(1103.868) |
|
|
Employees benefits expense |
7250.000 |
6400.000 |
4848.640 |
|
|
Other expenses |
6650.000 |
5660.000 |
6510.828 |
|
|
TOTAL |
18660.000 |
18460.000 |
15856.349 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
27050.000 |
28070.000 |
23535.133 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
140.000 |
90.000 |
152.292 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
26910.000 |
27980.000 |
23382.841 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
2050.000 |
1720.000 |
1700.458 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
24860.000 |
26260.000 |
21682.383 |
|
|
|
|
|
|
|
Less |
TAX |
4290.000 |
4470.000 |
2043.466 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
20570.000 |
21790.000 |
19638.917 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
30570.000 |
35120.000 |
29213.386 |
|
|
TOTAL |
30570.000 |
35120.000 |
29213.386 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
2580.000 |
4310.000 |
4050.289 |
|
|
Spare Parts & Components |
1060.000 |
330.000 |
159.268 |
|
|
Capital Goods |
1190.000 |
790.000 |
303.418 |
|
|
TOTAL IMPORTS |
4830.000 |
5430.000 |
4512.975 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
4300.00 |
4550.00 |
4075.00 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
0.000 |
693.631 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
23440.000 |
22500.000 |
22381.491 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average
Collection Days (Sundry Debtors / Income * 365 Days) |
47.89 |
60.08 |
56.78 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
7.62 |
6.07 |
6.43 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
77.81 |
38.73 |
49.80 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
2.45 |
2.71 |
2.54 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.19 |
1.36 |
1.28 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.04 |
0.08 |
0.24 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.01 |
0.01 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.04 |
0.09 |
0.30 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.19 |
0.21 |
0.24 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
193.21 |
311.89 |
154.54 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
50.26 |
49.75 |
52.55 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
16.47 |
20.20 |
19.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
17.41 |
22.33 |
25.24 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
7.09 |
4.22 |
1.53 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
4.99 |
3.06 |
1.13 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.95 |
0.90 |
0.76 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.70 |
20.54 |
22.79 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
7.09 |
4.22 |
1.53 |
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 |
48.192 |
48.200 |
48.200 |
|
Reserves & Surplus |
77760.399 |
97541.800 |
118101.800 |
|
Net
worth |
77808.591 |
97590.000 |
118150.000 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
404.457 |
990.000 |
130.000 |
|
Total
borrowings |
404.457 |
990.000 |
130.000 |
|
Debt/Equity
ratio |
0.005 |
0.010 |
0.001 |
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 |
37370.652 |
43800.000 |
40930.000 |
|
|
|
17.204 |
(6.553) |
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 |
37370.652 |
43800.000 |
40930.000 |
|
Profit |
19638.917 |
21790.000 |
20570.000 |
|
|
52.55% |
49.75% |
50.26% |
LEGAL
CASES
|
Case Details Bench:- Bombay Presentation Date:- 04.04.2017 |
|||
|
|
|||
|
Lodging No. : ITXAL/814/2017 Filing Date:- 04.04.2017
Reg. No.: ITXA/700/2017 Reg. Date: 24.04.2017 |
|||
|
Petitioner:- |
THE PRINCIPAL COMMISSIONER OF INCOME TAX |
Respondent:- |
SERUM INSTITUTE OF INDIA LIMITED |
|
Petn. Adv:- |
SHAM V WALVE (I3200) |
||
|
District:- |
Mumbai |
||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
|
Next Date: |
04.05.2017 |
Statue: |
-- |
|
Coram: |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
||
|
Act. : |
Income Tax Act,1961 |
Under Section 260A |
|
|
Case Details Bench:- Bombay Presentation Date:- 22.09.2016 |
|||
|
|
|||
|
Lodging No. : APPL/350/2016 Filing Date:- 22.09.2016 |
|||
|
Petitioner:- |
HIRAN ORGOCHEM LIMITED |
Respondent:- |
SERUM INSTITUTE OF INDIA LIMITED |
|
Petn. Adv:- |
OMAR KHAIYAM SHAIKH (i1200) Resp. Adv.: MADHAV JAYAJIRAI JAMDAR (I3208) |
||
|
District:- |
Mumbai |
||
|
Bench:- |
DIVISION |
Category:- |
APPEAL (FINAL JUDGMENT/DECREE-CP) |
|
Status: |
Pre-Admission |
|
|
|
Next Date: |
19.06.2017 |
Statue: |
FOR SETTLEMENT/FILING CONSENT TERMS |
|
Coram: |
HONBLE SHRI JUSTICS V. M KANADE HONBLE SHRI JUSTICE C. V. BHADANG |
||
|
Last Date: |
19.04.2017 Statue: FOR SETTLEMENT/FILING CONSENT TERMS |
||
|
Act. : |
Code of civil procedure1908 |
||
|
Case Details Bench:- Bombay Presentation Date:- 12.08.2016 |
|||
|
|
|||
|
Lodging No. : WTXAL/989/2016 Filing Date:- 12.08.2016
Reg. No.: WTXA/1816/2016 Reg.
Date: 21.12.2016 |
|||
|
Petitioner:- |
THE PRINCIPAL COMMISSIONER OF WEALTH TAX |
Respondent:- |
SERUM INSTITUTE OF INDIA LIMITED |
|
Petn. Adv:- |
TEJVEER SINGH MASTAN SINGH (I3678) |
||
|
District:- |
Pune |
||
|
Bench:- |
DIVISION |
||
|
Status: |
Pre-Admission |
Category:- |
TAX APPEALS |
|
Act. : |
Income Tax Act,1961 |
Under Section 27 A |
|
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 |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
No |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
Yes |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
|
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
Golden Jubilee Year
This year, 2017, the Company completes 50 years of service to humanity. The Company, which started its operations in 1967, in the form of a Partnership Firm, grew in strength in terms of products manufactured, employment generated and infrastructure. The Company’s efforts in providing quality vaccines at affordable prices has placed it as the Country’s No 1 vaccine manufacturer and the world’s largest producer and seller of vaccines. During this progress, the Company and its personnel have achieved substantial awards for contribution to saving lives.
Apart from India, the Company has marked its presence globally through exports and setting up vaccine manufacturing facilities in Europe.
Vaccines manufactured by the Company are accredited by World Health Organisation and the Company’s vaccines are used by more than 170 countries around the world.
Future plans and
strategies
The Company proposes to introduce new products in the market, namely, Rotavirus Vaccine, Rabies Monoclonal Antibodies and Vero Rabies Vaccine, in the market during the current year 2017 – 18. The Company is also in process of development of new vaccines like the DTaP, Pneumococcal Conjugate Vaccine, HPV, Dengue, Yellow Fever, which are at various stages of development. The Company realizes the need to expand its existing infrastructure and manufacturing facilities to support its increased vaccine manufacturing activities and accordingly, the company has taken effective steps towards developing, acquiring, upgrading and expanding its existing manufacturing and infrastructural facilities which will further result in sizable increase in installed and production capacities.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Deposits from directors |
130.000 |
990.000 |
|
Total |
130.000 |
990.000 |
INDEX OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G53662920 |
100123228 |
BNP Paribas |
29/08/2017 |
- |
- |
1842012000.0 |
Unit No. 1 & 2Godrej Millennium, 9 Koregaon RoadPuneMH411001IN |
|
2 |
C60304011 |
10140096 |
Citi Bank N.A. |
31/12/2008 |
- |
09/07/2015 |
2442530000.0 |
CITIBANK CENTER,BANDRA KURLA COMPLEX, BANDRA EAST,PUNEMH400051IN |
|
3 |
Y10173015 |
90087994 |
BANK OF BARODA |
14/09/1996 |
- |
17/04/2002 |
30000000.0 |
8A DR. COYAJI ROADPUNEMH411001IN |
|
4 |
Y10172998 |
90087977 |
BANK OF BARODA |
20/06/1996 |
- |
17/04/2002 |
18500000.0 |
8A DR. COYAJI ROADPUNEMH411001IN |
|
5 |
Y10169471 |
90084450 |
EXPORT--IMPORT BANK OF INDIA |
30/04/1996 |
- |
16/04/1998 |
15000000.0 |
CENTRE ONE - 21ST FLOOR; WORLD TRADE CENTRECUFFE PARADEBOMBAYMH400005IN |
|
6 |
Y10169190 |
90084169 |
BANK OF INDIA |
21/09/1994 |
- |
16/10/1996 |
35000000.0 |
8-A; DR. COYAJI ROADPUNEMH411001IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Bank Guarantees |
540.000 |
3750.000 |
|
Disputed
Liabilities |
|
|
|
Excise / Service Tax |
550.000 |
580.000 |
FIXED ASSETS
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Aircrafts Helicopters
- Office Equipment
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 66.66 |
|
UK Pound |
1 |
INR 90.66 |
|
Euro |
1 |
INR 80.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
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)