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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

507387

Report Date :

11.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

EMCURE PHARMACEUTICALS LIMITED

 

 

Registered Office :

‘Emcure House’, T-184, M.I.D.C., Bhosari, Pune – 411026, Maharashtra

Mob. No.:

91-20-30610000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

16.04.1981

 

 

Com. Reg. No.:

11-024251

 

 

Capital Investment / Paid-up Capital :

INR 1808.521 Million

 

 

CIN No.:

[Company Identification No.]

U24231PN1981PLC024251

 

 

IEC No.:

[Import-Export Code No.]

3193008303

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AAACE4574C1ZV

 

 

TIN No.:

27750247807

 

 

PAN No.:

[Permanent Account No.]

AAACE4574C

 

 

Legal Form :

A Closely Held Public Limited Liability Company.

 

 

Line of Business :

Manufacturing and Marketing of Allopathic Pharmaceutical Products. [Registered Activity]

 

 

No. of Employees :

Information declined 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+

Low Risk

Business dealings permissible with low risk of default

 

Maximum Credit Limit :

USD 35000000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1981. It is engaged in manufacturing and marketing of allopathic pharmaceutical products.

 

For the financial year 2017, the company has reported dip 3.74% as compared to the previous year but has managed to maintain a good profit margin of 10.35%.

 

Rating takes into consideration the company’s established track record marked by sound financial profile marked by adequate net worth base along with low debt balance sheet profile and decent liquidity position.

 

Rating also takes into consideration the strength of the promoter’s experience of over three decades and strong manufacturing facilities with diversified product portfolio of new launches and long-term contracts with the pharmaceutical companies.

 

Further, the company also have a diversified income from its group companies in various countries and has an established market position.

 

Payment seems to be regular.

 

In view of aforesaid, the company can be considered for business dealing 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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

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 31-03-2018.

 

 

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 11.05.2018.

 

 

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

 

Management Non-Cooperative (Tel. No.: 91-20-30610000 / 27120084 / 40700000)

 

Tel. No.: 91-7887541782 Ringing

 

 

LOCATIONS

 

Registered Office/ Investor Grievances :

‘Emcure House’, T-184, M.I.D.C., Bhosari, Pune – 411026, Maharashtra, India 

Tel. No.:

91-20-30610000/ 27120084/ 40700000

Fax No.:

91-20-30610111

E-Mail :

corporate@emcure.co.in

hiteshwar.pruthi@emcure.co.in

arun.manjeshwar@roche.com

gaurav.pancholia@emcure.co.in

company.secretary@emcure.co.in

Website :

http://www.emcure.co.in

 

 

Corporate Office:

Survey No. 255/2, Opposite Tata Johnson, Hinjawadi Taluka Mulsi, District Pune-411057, Maharashtra, India

Tel. No.:

91-20-39821300

 

 

Business Development/ Factory :

Plot P-II, I.T.B.T Park, M.I.D.C, Mulshi, Hinjwadi, Pune - 411057, Maharashtra, India

Tel. No.:

91-20-39821300

Fax No.:

91-20-39821444

 

 

Manufacturing Units :

API Manufacturing

Plot No. D – 24, M.I.D.C., Kurkumbh, Taluka Daund, District Pune – 413 802, Maharashtra, India

Tel No.: 91-2117-305000/ 235742

Fax No.: 91-2117-235743

 

Formulations – Injectables

Plot P – 1, MIDC, Hinjewadi, Pune – 411 057, Maharashtra, India

Tel No.: 91-20-39821300

Fax No.: 91-20-39821400

 

Formulations – Solids

 

C – 10/12, M.I.D.C., Bhosari, Pune – 411 026, Maharashtra, India

 

Small Batch Manufacturing

Plot P-II, I.T.B.T Park, M.I.D.C, Mulshi, Hinjwadi, Pune - 411057, Maharashtra, India

Tel No.: 91-20-39821300

Fax No.: 91-20-39821444

 

 

R & D Centers :

API R and D

Plot 12/2, F – II Block, M.I.D.C., Pimpri, Pune – 411 018, Maharashtra, India

Tel No.: 91-20-30613000

Fax No.: 91-20-30613056

 

Plot P-II, Infotech Park M.I.D.C. Hinjwadi, Pune – 411 057, Maharashtra, India

Tel No.: 91-20-39821350

Fax No.: 91-20-39821445

 

Formulation R and D

T-184, M.I.D.C., Bhosari, Pune – 411026, Maharashtra, India 

Tel No.: 91-20-30610000

Fax No.: 91-20-30610222

 

Biotechnology R and D

Plot P-II, I.T.B.T Park, M.I.D.C, Mulshi, Hinjwadi, Pune - 411057, Maharashtra, India

Tel No.: 91-20-39821300

Fax No.: 91-20-39821441

 

 

Representative Office :

B/3, Shree Arihant Compound, Kalher Pipeline, Kalher Bhiwandi, Thane – 421 302, Maharashtra, India

 

 

DIRECTORS

 

As on 31.03.2018

 

Name :

Mr. Hamayun Raja Dhanrajgir

Designation :

Director

Address :

Flat No.F-37/38, Dhanraj Mahal, CSM Road, Apollo Bunder, Mumbai – 400 039, Maharashtra, India

Date of Birth/Age :

02.12.1936

Qualification :

Graduate- Chemical Engineering

Date of Appointment :

23.09.2000

PAN No.:

AAAPD8407E

DIN No.:

00004006

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L85195TG1984PLC004393

NEULAND LABORATORIES LTD.

23/08/1994

-

L24110GJ1969PLC001590

THEMIS MEDICARE LIMITED

27/08/2004

-

L24230GJ1995PLC025878

CADILA HEALTHCARE LIMITED

16/08/2003

-

U24249KA1991PLC011880

SAMI LABS LIMITED

12/01/2002

-

U65991MH1999PLC123027

HDFC ASSET MANAGEMENT COMPANY LIMITED

11/07/2000

-

U70200MH2000PTC127068

H DHANRAJGIR ESTATES PRIVATE LIMITED

07/06/2000

-

L15201GJ1994PLC023490

ZYDUS WELLNESS LIMITED

28/07/2009

-

U85100MH1946GAT005082

BREACH CANDY HOSPITAL TRUST

29/01/2004

-

U22100MH2004PTC149173

NEXT GEN PUBLISHING PRIVATE LIMITED

05/05/2006

-

 

 

Name :

Dr. Mukund Keshav Gurjar

Designation :

Whole Time Director

Address :

National Chemical Laboratory, Pashan Road, Pune-411008, Maharashtra, India

Date of Birth/Age :

28.08.1952

Qualification :

M. Sc., Ph. D.

Date of Appointment :

23.07.2001

PAN No.:

ACGPG3335A

DIN No.:

00026843

 

 

Name :

Mr. Sunil Rajnikant Mehta

Designation :

Whole-time Director

Address :

4, Mumbai – Pune Road, Kirkee, Pune – 411 003, Maharashtra, India

Date of Birth/Age :

23.03.1963

Qualification :

B.Com, PGDBA

Date of Appointment :

05.06.2013

PAN No.:

AAUPM2926K

DIN No.:

00118469

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U72100PN2000PTC015368

EMCURE INFOTECH LIMITED

15/01/2001

-

U24231PN2001PLC016253

GENNOVA BIOPHARMACEUTICALS LIMITED

19/06/2001

-

 

 

Name :

Mr. Satish Ramanlal Mehta

Designation :

Managing Director

Address :

4, Mumbai – Pune Road, Kirkee, Pune – 411 003, Maharashtra, India

Date of Birth/Age :

13.01.1951

Qualification :

M. Sc., PGDM [IIMA]

Date of Appointment :

16.04.1981

PAN No.:

AAVPM4447J

DIN No.:

00118691

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U85320PN2002PLC018324

ZUVENTUS HEALTHCARE LIMITED

03/07/2002

-

U24232PN2005PLC020815

LASOR PHARMACEUTICALS LIMITED

28/07/2010

-

U72100PN2000PTC015368

EMCURE INFOTECH LIMITED

29/09/2000

-

U24231PN2001PLC016253

GENNOVA BIOPHARMACEUTICALS LIMITED

01/04/2015

-

 

 

Name :

Mr. Berjis Minoo Desai

Designation :

Director

Address :

Yezerina II, 740/741, Parsi Colony Road No.5, Dadar, Mumbai – 400 014, Maharashtra, India

Date of Birth/Age :

02.08.1956

Qualification :

LLB, LLM

Date of Appointment :

03.04.1997

PAN No.:

AACPD9815A

DIN No.:

00153675

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U72200GA2006PTC004816

INVENTURUS KNOWLEDGE SOLUTIONS PRIVATE LIMITED

30/09/2013

-

L51100GJ1993PLC019067

ADANI ENTERPRISES LIMITED

08/08/2013

-

U27109GJ2017PTC100322

NU METAL & STEEL PRIVATE LIMITED

09/01/2018

-

L70200MH2002PLC136849

MAN INFRACONSTRUCTION LIMITED

08/08/2012

-

U01110MH2002PTC136746

CAPRICORN AGRIFARMS AND DEVELOPERS PRIVATE LIMITED.

25/09/2002

-

U01210MH2002PTC136745

CAPRICON STUDFARM PRIVATE LIMITED

05/12/2002

-

U67190MH2008PTC180341

SABRE CAPITAL INDIA INVESTMENT ADVISORS PRIVATE LIMITED

20/03/2008

-

U74900MH2007PTC171272

EQUINE BLOODSTOCK PRIVATE LIMITED

04/06/2007

-

L74899UP1995PLC043677

JUBILANT FOODWORKS LIMITED

28/08/2017

-

L35110MH1948PLC006472

THE GREAT EASTERN SHIPPING COMPANY LIMITED

18/12/2006

-

L24121MH1979PLC021360

DEEPAK FERTILISERS AND PETROCHEMICALS CORPORATION LTD

21/09/2017

-

L65990TN1975PLC062634

STERLITE INDUSTRIES (INDIA) LIMITED

29/06/2001

-

U26940MH1999PLC118229

NUVOCO VISTAS CORPORATION LIMITED

12/09/2017

-

L27101PN1985PLC038031

PRAJ INDUSTRIES LIMITED

27/08/1993

-

U99999MH1987PTC042289

CENTRUM FISCAL PRIVATE LIMITED

21/01/1987

-

U45200MH1995PLC093041

LODHA DEVELOPERS LIMITED

29/09/2017

-

L99999MH1995PLC094641

EDELWEISS FINANCIAL SERVICES LIMITED

30/07/2010

-

 

 

Name :

Mr. Girish Laxmikant Telang

Designation :

Director

Address :

401, Sagar Dardhan, 4th Floor, Worli Sea Face, Mumbai – 400 030, Maharashtra, India

Date of Birth/Age :

28.11.1949

Qualification :

M.B.B.S

Date of Appointment :

27.04.2012

PAN No.:

AAAPT1950E

DIN No.:

00455125

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U24231PN2001PLC016253

GENNOVA BIOPHARMACEUTICALS LIMITED

27/07/2012

-

 

 

Name :

Mr. Shreekant Krushnaji Bapat

Designation :

Director

Address :

Yashodhan, II Floor, United Western Co-Operative Housing Society, Karve Nagar, Pune – 411 052, Maharashtra, India

Date of Birth/Age :

06.10.1937

Qualification :

IPS

Date of Appointment :

26.06.1999

PAN No:

AAXPB9453H

DIN No.:

00621568

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U85320PN2002PLC018324

ZUVENTUS HEALTHCARE LIMITED

03/07/2002

-

U73200PN1980PLC023108

UNITED SOCIO-ECONOMIC DEVELOPMENT AND RESEARCHN PROGRAMME

09/12/1995

-

U24231PN2001PLC016253

GENNOVA BIOPHARMACEUTICALS LIMITED

18/05/2009

-

 

 

Name :

Ms. Namita Vikas Thapar

Designation :

Whole-time Director and Chief Financial Officer

Address :

Prasanna, 4 Mumbai Pune Road, Kirkee, Pune – 411 003, Maharashtra, India

Date of Birth/Age :

21.03.1977

Date of Appointment :

28.07.2014

PAN No.:

AEDPM2995R

Qualification:

CA

DIN No.:

05318899

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L31300MH1967PLC016531

FINOLEX CABLES LIMITED

10/08/2015

-

U85320PN2002PLC018324

ZUVENTUS HEALTHCARE LIMITED

27/07/2012

-

U74999PN2015PTC156644

THAPAR VENTURES PRIVATE LIMITED

01/10/2015

-

U80302PN2015PTC156778

INCREDIBLE IDEAS PRIVATE LIMITED

09/10/2015

-

U74999PN2016PTC164198

INCREDIBLE VENTURES PRIVATE LIMITED

29/04/2016

-

 

 

Name :

Mr. Samonnoi Sajani Banerjee

Designation :

Director

Address :

Apartment 53, Maker Tower A, 5th Floor, Cuffe Parade, Mumbai-400005, Maharashtra, India

Date of Appointment :

08.01.2018

DIN No.:

06874206

 

 

Name :

Mr. Fakrul Alam Sayeed

Designation :

Director

Address :

26, Raphael Drive, Monmouth Junct NJ 88522539 United States

Date of Birth/Age :

15.09.1948

Date of Appointment :

22.03.2016

Qualification:

M.SC. , Ph. D. Pharmacy

DIN No.:

07458933

 

 

KEY EXECUTIVES

 

Name :

Mr. Sanjay Kumar Chowdhary

Designation :

Company Secretary

Address :

Coronet, A-201, Lokhandwala Housing Complex, Akurli Road, Kandivali (East) Mumbai-400101, Maharashtra, India

Date of Appointment :

10.11.2016

PAN No.:

ACLPC2022R

 

 

Name :

Mrs. Namita Vikas Thapar

Designation :

Chief Finance Officer

Address :

Prasanna Bunglow No. 4, Mumbai-Pune Road, Khadki, Pune - 411003, Maharashtra, India

Date of Birth/Age :

21.03.1977

Qualification:

CA

Date of Appointment :

01.08.2014

PAN No.:

AEDPM2995R

 

 

Name :

P.C. Dhamne and Associates

Designation :

Company Secretaries

Address :

Office No. 207, 2nd Floor, Adinath Shopping Complex, Pune-Satara Road, Pune – 411037, Maharashtra, India

Tel. No:

91-20-30488943

Fax. No:

91-98228 18161

Email:

pankajdhamne@gmail.com

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2017

 

SHAREHOLDERS DETAILS FILE ATTACHED

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2017

 

Category

Percentage

Promoters [Individual/Hindu Undivided Family (Indian)]

47.99

Public/Other than promoters [Individual/Hindu Undivided Family (Indian)]

38.30

Public/Other than promoters [Non-resident Indian (NRI)]

0.62

Public/Other than promoters [Venture capital]

13.09

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing and Marketing of Allopathic Pharmaceutical Products. [Registered Activity]

 

 

Products :

Item Code No.

Product Description

21002

Allopathic Pharmaceutical Products

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

Axis Bank Limited

Branch

2nd Floor-E, Axis House Bombay Dyeing Mill Compound, P. B. Marg, Worli, Mumbai-400025, Maharashtra, India

Person Name (With Designation)

--

Contact Number

--

Name of Account Holder

--

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

--

 

  • HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai-400013, Maharashtra, India

 

  • Bank of Baroda, 39, Mantri Courtramabai Ambedkar Road, PUNE – 411001, Maharashtra, India

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Borrowings

4530.182

4028.468

 

 

 

Short-term borrowings

 

 

Secured borrowings

3862.340

3643.925

 

 

 

Total

8392.522

7672.393

 

Auditors :

 

Name :

Price Waterhouse and Company

Chartered Accountants

Address :

Muttha Towers 5Th Floor, Suite No-8 Airport Road, Yerwada, Pune, Maharashtra, India

PAN No.:

AAEFP3641G

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Joint Venture :

Biolab Emcure Farmaceutica Comercial Ltda. (Joint venture of Emcure Brasil Farmaceutica Ltda)

 

 

Subsidiaries :
  • Emcure Brasil Farmaceutica Ltda
  • Emcure Nigeria Limited
  • Emcure Pharmaceuticals Mena FZ LLC.
  • Emcure Pharmaceuticals South Africa Pty Limited.
  • Gennova Biopharmaceuticals Limited
  • Heritage Pharma Holdings Inc.
  • Zuventus Healthcare Limited
  • Emcure Pharma UK Limited.
  • Emcure Uth Healthcare Limited. (till November 3, 2015)
  • Emcure Pharma Mexico Sa. De C.V.
  • Emcure Pharma Peru S.A.C
  • Marcan Pharmaceuticals Inc
  • Emcure Pharmaceuticals Pty Limited

 

 

Step-down Subsidiary Company :
  • Heritage Pharmaceuticals Inc. (Subsidiary of Heritage Pharma Holdings Inc.)
  • Emcure Heritage Canada Inc. (Subsidiary of Heritage Pharma Holdings Inc. - Dissolved w. e. f. June 14, 2016)
  • Konsina Ilac Sanayi Ve Dis Ticaret Anonim Sirketi (Subsidiary of Emcure Pharma UK Limited.)
  • Tillomed Holdings Limited (Subsidiary of Emcure Pharma U.K. Limited )
  • Tillomed Laboratories Limited (Subsidiary of Tillomed Holdings Limited)
  • Heritage Pharma Labs Inc. (Subsidiary of Heritage Pharma Holdings Inc.)
  • Tillomed Pharma GmbH, Germany (w. e. f. January 12, 2016, formerly known as Bhardwaj Pharma GmbH) - (Subsidiary of Emcure
  • Pharma U.K. Limited)
  • Laboratorios Tillomed Spain SLU, Spain
  • Tillomed Italia S.R.L, Italy

 

 

Enterprise over which Key Management Personnel have significant influence :
  • Uth Beverage Factory Private Limited

U15549PN2006PTC021813

  • H.M. Sales Corporation
  • Uth Wellness Product Limited, Nigeria

 

 

CAPITAL STRUCTURE

 

As on 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200000000

Equity Shares

INR 10/- each

INR 2000.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

180852116

Equity Shares

INR 10/- each

INR 1808.521 Million

 

 

 

 

 

 

 

 

 

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

1808.521

1808.521

452.130

(b) Reserves & Surplus

10460.601

8550.729

8135.089

(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)

12269.122

10359.250

8587.219

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

4530.182

4028.468

2530.121

(b) Deferred tax liabilities (Net)

0.000

0.000

777.805

(c) Other long term liabilities

144.010

148.236

410.846

(d) long-term provisions

110.961

89.826

83.303

Total Non-current Liabilities (3)

4785.153

4266.530

3802.075

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

3862.340

3643.925

2891.654

(b) Trade payables

2219.778

2770.835

2974.794

(c) Other current liabilities

3508.470

3792.628

2223.272

(d) Short-term provisions

432.467

397.490

479.486

Total Current Liabilities (4)

10023.055

10604.878

8569.206

 

 

 

 

TOTAL

27077.330

25230.658

20958.500

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

7647.657

7818.328

6676.450

(ii) Intangible Assets

860.142

812.265

567.730

(iii) Capital work-in-progress

2884.331

716.999

728.002

(iv) Intangible assets under development

0.000

0.000

10.500

(b) Non-current Investments

3277.245

3249.293

2281.535

(c) Deferred tax assets (net)

896.904

557.255

0.000

(d)  Long-term Loan and Advances

563.536

558.257

1970.282

(e) Other Non-current assets

907.592

702.634

68.319

Total Non-Current Assets

17037.407

14415.031

12302.818

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

5470.366

5183.556

3428.211

(c) Trade receivables

3527.933

4408.166

4013.318

(d) Cash and cash equivalents

170.381

283.159

322.183

(e) Short-term loans and advances

0.000

0.000

759.518

(f) Other current assets

871.243

940.746

132.452

Total Current Assets

10039.923

10815.627

8655.682

 

 

 

 

TOTAL

27077.330

25230.658

20958.500

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

20986.464

21801.534

20310.058

 

Other Income

374.559

484.408

646.055

 

TOTAL

21361.023

22285.942

20956.113

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

3190.805

3912.215

5087.591

 

Purchases of Stock-in-Trade

2626.785

3087.467

2201.935

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(490.270)

(903.694)

56.738

 

Employees benefits expense

4657.320

4185.992

3429.065

 

CSR Expenditure

0.000

0.000

29.519

 

Other expenses

5991.566

5691.816

4400.377

 

Exceptional Items

983.736

543.935

1743.518

 

TOTAL

16959.942

16517.731

16948.743

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

4401.081

5768.211

4007.370

 

 

 

 

 

Less

FINANCIAL EXPENSES

1004.132

1144.447

776.015

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

3396.949

4623.764

3231.355

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

1158.347

1046.501

1038.089

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

2238.602

3577.263

2193.266

 

 

 

 

 

Less

TAX

67.042

656.810

126.588

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

2171.560

2920.453

2066.678

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 12.01

 16.15

 --

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

1953.378

1842.169

1291.261

Cash generated from operations

NA

NA

NA

Net cash flow from operating activity

4052.721

3412.464

3463.977

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

61.36

73.80

72.12

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

5.95

4.95

5.06

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

139.27

144.49

148.95

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.80

1.11

1.17

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.39

0.62

0.50

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.54

0.58

0.53

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.68

0.74

0.63

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.82

1.02

1.00

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.93

0.90

0.93

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

4.38

5.04

5.16

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

10.35

13.40

10.18

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

8.02

11.58

9.86

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

17.70

28.19

24.07

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.00

1.02

1.01

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.46

0.53

0.61

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.45

0.41

0.41

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

4.64

4.24

11.99

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.00

1.02

1.01

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

452.130

1808.521

1808.521

Reserves & Surplus

8135.089

8550.729

10460.601

Net worth

8587.219

10359.250

12269.122

 

 

 

 

long-term borrowings

2530.121

4028.468

4530.182

Short term borrowings

2891.654

3643.925

3862.340

Total borrowings

5421.775

7672.393

8392.522

Debt/Equity ratio

0.631

0.741

0.684

 

 

 

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

20310.058

21801.534

20986.464

 

 

7.344

(3.739)

 

 

 

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

20310.058

21801.534

20986.464

Profit

2066.678

2920.453

2171.560

 

10.18%

13.40%

10.35%

 

 

 

ABRIDGED BALANCE SHEET – (CONSOLIDATED)

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

1808.521

1808.521

(b) Reserves & Surplus

 

14006.873

12118.479

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

671.964

608.934

Total Shareholders’ Funds (1) + (2)

 

16487.358

14535.934

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

9691.461

9276.271

(b) Deferred tax liabilities (Net)

 

97.772

118.502

(c) Other long term liabilities

 

2711.333

2600.891

(d) long-term provisions

 

182.744

156.432

Total Non-current Liabilities (3)

 

12683.310

12152.096

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

4701.128

3788.342

(b) Trade payables

 

5189.122

5052.832

(c) Other current liabilities

 

6473.769

5464.612

(d) Short-term provisions

 

2175.624

3002.145

Total Current Liabilities (4)

 

18539.643

17307.931

 

 

 

 

TOTAL

 

47710.311

43995.961

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

11419.769

9970.133

(ii) Intangible Assets

 

4566.839

4982.934

(iii) Capital work-in-progress

 

3851.882

977.504

(iv) Intangible assets under development

 

544.521

644.012

(v) Goodwill

 

3421.577

3575.173

(b) Non-current Investments

 

3.206

3.236

(c) Deferred tax assets (net)

 

1793.799

1585.782

(d)  Long-term Loan and Advances

 

0.000

0.000

(e) Other Non-current assets

 

2059.460

1159.780

Total Non-Current Assets

 

27661.053

22898.554

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

9954.105

9124.669

(c) Trade receivables

 

6423.439

7516.246

(d) Cash and cash equivalents

 

2518.285

3129.411

(e) Short-term loans and advances

 

0.000

0.000

(f) Other current assets

 

1153.429

1327.081

Total Current Assets

 

20049.258

21097.407

 

 

 

 

TOTAL

 

47710.311

43995.961

 

 

PROFIT & LOSS ACCOUNT– (CONSOLIDATED)

 

 

PARTICULARS

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

42477.398

44169.201

 

Other Income

 

237.865

282.739

 

TOTAL

 

42715.263

44451.940

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

4936.929

5827.688

 

Purchases of Stock-in-Trade

 

9939.054

10678.131

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

(888.357)

(1791.414)

 

Employees benefits expense

 

8649.993

8044.532

 

Other expenses

 

11348.977

10049.517

 

Exceptional Items

 

1860.736

1067.791

 

TOTAL

 

35847.332

33876.245

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

6867.931

10575.695

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

1741.899

1194.661

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

5126.032

9381.034

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

 

2170.929

1681.500

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

2955.103

7699.534

 

 

 

 

 

Less

TAX

 

442.590

2008.899

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

2512.513

5690.635

 

 

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

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

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

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

 

 

GENERAL INFORMATION :

 

Subject is a company limited by shares, incorporated and domiciled in India. The Company is engaged in developing, manufacturing and marketing a broad range of pharmaceutical products globally. Company's core strength lies in developing and manufacturing differentiated pharmaceutical products in-house, which are commercialised through Company's marketing infrastructure across geographies and business relationships with multi-national pharmaceutical companies

 

 

INDEX OF CHARGES:

 

Charges Registered

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G86835535

100174948

Axis Bank Limited

27/03/2018

-

-

500000000.0

214-215, City Mall, 2nd , Plot No. 1S.no.132, Ganesh Khind Road(University Road)PUNE

2

G82958000

100166764

Axis Bank Limited

19/03/2018

-

-

500000000.0

2ND FLOOR - E, AXIS HOUSEBOMBAY DYEING MILL COMPOUND, P. B. MARG, WORLIMUMBAIMH400025IN

3

G80016728

100161882

Axis Bank Limited

19/03/2018

-

-

2650000000.0

2ND FLOOR - E, AXIS HOUSEBOMBAY DYEING MILL COMPOUND, P. B. MARG, WORLIMUMBAIMH400025IN

4

G75772038

100151755

Axis Bank Limited

23/01/2018

-

-

630000000.0

2ND FLOOR - E, AXIS HOUSEBOMBAY DYEING MILL COMPOUND, P. B. MARG, WORLIMUMBAIMH400025IN

5

G77447514

100155866

HDFC BANK LIMITED

15/01/2018

-

-

750000.0

HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WESTMumbaiMH400013IN

6

G68216217

100136740

HDFC BANK LIMITED

10/10/2017

-

-

8500000.0

HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WESTMumbaiMH400013IN

7

G57511917

100128731

BANK OF BARODA

22/09/2017

-

-

290000000.0

39, MANTRI COURTRAMABAI AMBEDKAR ROADPUNEMH411001IN

8

G54321948

100124569

HDFC BANK LIMITED

28/08/2017

-

-

3100000.0

HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WESTMumbaiMH400013IN

9

G68469873

100138013

HDFC BANK LIMITED

10/08/2017

-

-

7800000.0

HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WESTMumbaiMH400013IN

10

G49322464

100112623

Axis Bank Limited

14/07/2017

-

-

3893321000.0

2ND FLOOR - E, AXIS HOUSEBOMBAY DYEING MILL COMPOUND, P. B. MARG, WORLIMUMBAIMH400025IN

11

G45031556

100100730

BANK OF BARODA

20/05/2017

-

-

290000000.0

39, MANTRI COURTRAMABAI AMBEDKAR ROADPUNEMH411001IN

12

G45031747

100100743

BANK OF BARODA

20/05/2017

-

-

290000000.0

39, MANTRI COURTRAMABAI AMBEDKAR ROADPUNEMH411001IN

13

G42614776

100094181

BANK OF BARODA

20/04/2017

-

-

6456000000.0

ONE PARK AVENUENEW YORKNANY 10016US

14

G40142911

100087843

Axis Bank Limited

30/03/2017

-

-

1340000000.0

2ND FLOOR - E, AXIS HOUSEBOMBAY DYEING MILL COMPOUND, P. B. MARG, WORLIMUMBAIMH400025IN

 

 

FIXED ASSETS:

 

Tangible Assets

 

·         Land

·         Buildings

·         Plant and Equipment

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

·         Computer Equipments

 

 

 

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 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 67.38

UK Pound

1

INR 91.39

Euro

1

INR 79.89

 

 

INFORMATION DETAILS

 

Information Gathered by :

SAV

 

 

Analysis Done by :

PRI

 

 

Report Prepared by :

JYO

 

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)

 

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.