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MIRA INFORM REPORT
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Report No. : |
508946 |
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Report Date : |
15.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
MYLAN LABORATORIES LIMITED (w.e.f. 05.10.2011) JAI PHARMA LIMITED AMALGAMATED WITH MALAN LABORATORIES
LIMITED |
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|
Formerly Known
As : |
MATRIX LABORATORIES LIMITED (w.e.f. 21.03.2001) HERREN DRUGS AND PHARMACEUTICALS LIMITED (w.e.f. 27.06.1994) HERREN DRUGS LIMITED (w.e.f. 19.10.1992) HERREN DRUGS PRIVATE LIMITED |
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Registered
Office : |
Plot No.564/A/22, Road No.92, Jubilee Hills, Hyderabad – 500033,
Telangana |
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Tel. No.: |
91-40-30496666 / 23550543 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
29.11.1984 |
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Com. Reg. No.: |
36-005146 |
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Capital Investment
/ Paid-up Capital : |
INR 487.030 Million |
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CIN No.: [Company Identification
No.] |
U24231TG1984PLC005146 |
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IEC No.: [Import-Export Code No.] |
0988008858 |
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TIN No.: |
27450363014 |
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PAN No.: [Permanent Account No.] |
AADCM3491M |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
36AADCM3491M1Z2 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the manufacture of Active Pharmaceutical Ingredients, Finished Dosage Formulations, Injectables and research and development activities (Registered Activity) |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of “MP Laboratories (Mauritius) Limited, Mauritius” and was incorporated in the year 1984. It is having excellent track records. For the financial year 2017, the company has increased its revenue from operations as compared to previous year but reported losses. However, rating takes into consideration strong financial profile of the company marked by healthy networth base and average debt balance sheet. Further, the company also derives strength from its strong holding company support, established market position along with presence in various therapeutic segments and geographical diversity. However, these rating strengths are partially offset by working capital-intensive operations and exposure to increasing regulatory scrutiny and competition in the global generics market. Trade relations are reported as fair. Payments are reported to be regular. In view of established market position, the company can be considered good for normal business dealings at usual trade terms and conditions. (Note – Mr. Bipin (HR Department) has confirmed that Jai Pharma Limited has been amalgamated with Myalan Laboratories Limited in the year 2016.) |
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 : AA- |
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Rating Explanation |
High degree of safety and very low credit risk |
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Date |
29.03.2018 |
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
31-03-2018.
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 15.05.2018
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. Bipin |
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Designation : |
H. R. Department |
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Contact No.: |
91-22-61794800 |
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Date : |
12.05.2018 |
LOCATIONS
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Registered Office : |
House No. 8-2-293/82/J III, Plot No.564/A/22, Road No.92, Jubilee Hills,
Hyderabad – 500033, Telangana, India |
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Tel. No.: |
91-40-30496666 / 23550543 |
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Fax No.: |
91-40-27700343 / 30866699 |
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E-Mail : |
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Website : |
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Corporate Office : |
F-4 and F-12, MIDC Malegaon, Sinnar, Nashik – 422113,
Maharashtra, India |
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Branch Office 1 : |
7th Floor, Tower 2B, Indiabulls Centre, 841, Senapati Bapat Marg, Elphinstone Road (West), Mumbai – 400021, Maharashtra, India |
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Branch Office 2 : |
Nirmal, 20th Floor, Nariman Point, Mumbai – 400021, Maharashtra, India |
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Factory 1 : |
Plot No. H – 12, MIDC Waluj Industrial Area, Aurangabad-431136, Maharashtra, India |
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Factories : |
Also Located at
: ·
Hyderabad (4 Factories) ·
Maharashtra
(2 Factories) ·
Indore (1 Factory) ·
Andhra Pradesh (2 Factories) |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Rakesh Bamzai |
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Designation : |
Managing Director |
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Address : |
No.79/12, Tuisi Sunny Brooks, Sarjapur Road, Doddakannahalli,
Bangalore – 560035, Karnataka, India |
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Date of Birth/Age : |
01.10.1965 |
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Qualification : |
B. Sc (Tech) |
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Date of Appointment : |
01.11.2014 |
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PAN No.: |
AANPB2957J |
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DIN No.: |
06997113 |
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Name : |
Ms. Sarada Kalyani Bhagawati |
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Designation : |
Whole-Time Director |
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Address : |
H No. 1-1-380 / 38, Ashok Nagar Extension, Hyderabad – 500020, Telangana,
India |
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Date of Birth/Age : |
29.09.1968 |
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Qualification : |
CA, ICWA |
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Date of Appointment : |
01.11.2014 |
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PAN No.: |
ACXPB3665R |
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DIN No.: |
02680074 |
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Name : |
Mr. Rajiv Krishan Luthra |
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Designation : |
Director |
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Address : |
3/15, Shanti Niketan, New Delhi – 110021, India |
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Date of Birth/Age : |
01.08.1957 |
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Qualification : |
LL.M |
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Date of Appointment : |
30.03.2018 |
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PAN No.: |
AAAPL9458K |
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DIN No.: |
00022285 |
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Name : |
Mr. Mohit Saraf |
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Designation : |
Director |
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Address : |
Farm No 2, Kapashera Village, Farm House, Delhi – 110037, India |
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Date of Birth/Age : |
19.11.1966 |
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Qualification : |
LL.M |
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Date of Appointment : |
30.03.2015 |
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PAN No.: |
AKAPS4446E |
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DIN No.: |
00057284 |
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Name : |
Mr. Malik Rajiv |
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Designation : |
Director |
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Address : |
B-6B, Gangotri Enclave, Alaknanda, New Delhi – 110019, India |
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Date of Birth/Age : |
12.03.1961 |
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Qualification : |
M. Pharm (Degree in Pharmaceutical Industry) |
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Date of Appointment : |
28.07.2005 |
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PAN No.: |
ADHPM8833H |
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DIN No.: |
00120557 |
KEY EXECUTIVES
|
Name : |
Mr. Sarada Kalyani Bhagawati |
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Designation : |
Chief Financial Officer |
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Address : |
H. No. 1-1-380/38, Ashok Nagar Extension, Hyderabad – 500020,
Telangana, India |
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Date of Birth/Age : |
29.09.1968 |
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Qualification : |
CA,ICWA |
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Date of Appointment : |
01.11.2014 |
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PAN No.: |
ACXPB3665R |
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Name : |
Mr. Rakesh Bamzai |
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Designation : |
Chief Executive Officer |
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Address : |
No. 79/12, Tulsi Sunny Brooks, Sarjapur Road, Doddakannahalli, Bangalore – 560035, Karnataka, India |
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Date of Birth/Age : |
01.10.1965 |
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Qualification : |
B.Sc (Tech) |
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Date of Appointment : |
01.11.2014 |
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PAN No.: |
AANPB2957J |
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Name : |
Mr. Nagaraj Goud Bodige |
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Designation : |
Company Secretary |
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Address : |
H. No. 5-14-88, Indiranagar Colony II, APHB Colony,
Movlali, Hyderabad – 500040, Telangana, India |
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Date of Birth/Age : |
02.12.1977 |
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Qualification : |
Company Secretary, LL.B |
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Date of Appointment : |
25.07.2011 |
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PAN No.: |
AGYPB3840P |
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|
Name : |
Mr. Bipin |
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Designation : |
H. R. Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
MP Laboratories (Mauritius) Limited, Mauritius |
|
157402332 |
|
Mylan Luxembourg 2 S.a.r.l |
|
28508547 |
|
Mylan Group B.V. |
|
57601744 |
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B. Hari Babu |
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2 |
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Sarada Kalyani Bhagawati |
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2 |
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Yasir Rawjee jointly held with Mylan Luxembourg 2 S.a.r.l. |
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2 |
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Rajeev Mukundan |
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2 |
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Susanto Banerjee |
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2 |
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B. Nagaraj Goud |
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2 |
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Total |
|
243512635 |
Equity Share Break up (Percentage of Total Equity)
AS ON 22.09.2017
|
Category |
Percentage |
|
Promoters (Bodies
corporate) |
99.99999507 |
|
Public/Other than promoters (Individual/Hindu
Undivided Family – Indian) |
0.00000493 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the manufacture of Active Pharmaceutical Ingredients, Finished Dosage Formulations, Injectables and research and development activities (Registered Activity) |
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Products / Services
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Gowra Grand, III Floor, 1-8-1-384 and 385, SP Road, Secunderabad –
500003, Telangana, India |
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Income-tax
PAN of auditor or auditor's firm : |
AACFD3771D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate holding
company : |
Mylan N.V., Netherlands |
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Holding company : |
MP Laboratories (Mauritius) Limited |
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Subsidiary company
: |
Famy Care Europe Limited (w.e.f. 21 November 2015) |
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Firm in which
Independent directors are partners : |
Luthra and Luthra |
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Fellow Subsidiaries
: |
· Mylan Pharmaceuticals Inc. · Agila Specialties Global Pte. Limited · Mylan Pharmaceuticals ULC · Agila Specialties Inc. · Mylan Seiyaku Limited · Mylan (Pty) Limited · Gerard Laboratories Limited · Mylan Teoranta · Alphapharm Pty. Limited · Mylan Inc., USA · Mylan Pharmaceuticals Private Limited · Agila Especialidades Farmaceutica Ltda · Mylan Pharma UK Limited · Mylan Brasil Distribuidora · Mylan Technologies, Inc. · Mylan Group B.V. · Mylan S.A.S. · Mylan Luxembourg S.A.R.L · Mylan New Zealand Limited · Mylan Taiwan Limited · Xixia Pharmaceuticals (Pty) Limited · Mylan FZ LLC · Mylan Ireland Limited · Mylan B.V · Mylan S.p.A · Mylan Laboratorios Limiteda. · Mylan Institutional Inc. · Arcana Arzneimittel GmbH · Mylan Laboratories Inc. · Mylan EPD GK Japan · Mylan Luxembourg 2 S.a.r.l · Agila Specialties Polska sp. Z.o.o · Farma Plus AS · Sagent Agila LLC |
CAPITAL STRUCTURE
As on 22.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000000 |
Equity Shares |
INR 2/- each |
INR 700.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
243512635 |
Equity Shares |
INR 2/- each |
INR 487.025 Million |
|
|
|
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FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
487.030 |
487.030 |
378.560 |
|
(b) Reserves & Surplus |
80639.310 |
83421.290 |
45010.120 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
1742.130 |
|
Total
Shareholders’ Funds (1) + (2) |
81126.340 |
83908.320 |
47130.810 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
87386.620 |
87162.070 |
67782.740 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
665.040 |
3429.760 |
|
(c) Other long term
liabilities |
4072.070 |
5354.870 |
1745.640 |
|
(d) long-term provisions |
457.770 |
427.530 |
354.440 |
|
Total
Non-current Liabilities (3) |
91916.460 |
93609.510 |
73312.580 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2010.470 |
4405.640 |
1102.410 |
|
(b) Trade payables |
15781.100 |
18153.910 |
16371.760 |
|
(c) Other current liabilities |
9695.070 |
8863.110 |
9932.830 |
|
(d) Short-term provisions |
1010.640 |
900.590 |
318.960 |
|
Total
Current Liabilities (4) |
28497.280 |
32323.250 |
27725.960 |
|
|
|
|
|
|
TOTAL |
201540.080 |
209841.080 |
148169.350 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
36096.210 |
34811.900 |
30990.220 |
|
(ii) Intangible Assets |
65281.570 |
73278.470 |
29109.470 |
|
(iii) Capital work-in-progress |
7620.560 |
2654.710 |
1766.270 |
|
(iv) Intangible assets under
development |
0.000 |
5392.000 |
7646.000 |
|
(b) Non-current Investments |
2.330 |
2.330 |
2.250 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
5619.260 |
6553.500 |
5536.540 |
|
Total
Non-Current Assets |
114619.930 |
122692.910 |
75050.750 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
1627.900 |
|
(b) Inventories |
34772.530 |
37593.250 |
31571.150 |
|
(c) Trade receivables |
35981.040 |
31263.340 |
21396.870 |
|
(d) Cash and cash equivalents |
1794.090 |
3837.440 |
1139.230 |
|
(e) Short-term loans and
advances |
2170.120 |
2613.070 |
8306.380 |
|
(f) Other current assets |
12202.370 |
11841.070 |
9077.070 |
|
Total
Current Assets |
86920.150 |
87148.170 |
73118.600 |
|
|
|
|
|
|
TOTAL |
201540.080 |
209841.080 |
148169.350 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
96228.430 |
95063.010 |
78571.570 |
|
|
Other Income |
4021.310 |
3453.490 |
4953.380 |
|
|
TOTAL
|
100249.740 |
98516.500 |
83524.950 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
45117.880 |
51420.990 |
43855.570 |
|
|
Purchases of Stock-in-Trade |
248.190 |
506.140 |
574.120 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
2100.980 |
(4122.210) |
(4586.190) |
|
|
Employees benefits expense |
10079.620 |
8066.490 |
6452.050 |
|
|
Other expenses |
23695.000 |
26649.880 |
22350.570 |
|
|
TOTAL |
81241.670 |
82521.290 |
68646.120 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
19008.070 |
15995.210 |
14878.830 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
8569.400 |
6363.730 |
5686.310 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
10438.670 |
9631.480 |
9192.520 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
16811.880 |
11908.010 |
8518.950 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(6373.210) |
(2276.530) |
673.570 |
|
|
|
|
|
|
|
Less |
TAX |
(1677.740) |
(1721.280) |
(669.260) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(4695.470) |
(555.250) |
1342.830 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
85388.310 |
83280.640 |
69108.840 |
|
|
TOTAL
EARNINGS |
85388.310 |
83280.640 |
69108.840 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
(19.28) |
(2.68) |
7.09 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
3437.050 |
3113.630 |
852.560 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
16476.780 |
2805.100 |
7449.420 |
|
Net cash flows from (used in) operating activity |
16243.260 |
2561.760 |
6791.590 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
136.48 |
120.04 |
99.40 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.67 |
3.04 |
3.67 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
126.97 |
127.61 |
134.50 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.55 |
0.43 |
0.47 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.17 |
0.14 |
0.21 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.59 |
0.58 |
0.65 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.14 |
1.13 |
1.48 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.35 |
0.39 |
0.59 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.34 |
1.38 |
1.47 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.22 |
2.51 |
2.62 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(4.88) |
(0.58) |
1.71 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(2.33) |
(0.26) |
0.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(5.79) |
(0.66) |
2.85 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
3.05 |
2.70 |
2.64 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.83 |
1.53 |
1.50 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.40 |
0.40 |
0.32 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
190.61 |
194.41 |
184.22 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
3.05 |
2.70 |
2.64 |
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 |
378.560 |
487.030 |
487.030 |
|
Reserves & Surplus |
45010.120 |
83421.290 |
80639.310 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
1742.130 |
0.000 |
0.000 |
|
Net
worth |
47130.810 |
83908.320 |
81126.340 |
|
|
|
|
|
|
long-term borrowings |
67782.740 |
87162.070 |
87386.620 |
|
Short term borrowings |
1102.410 |
4405.640 |
2010.470 |
|
Current maturities of
long-term debts |
852.560 |
3113.630 |
3437.050 |
|
Total
borrowings |
69737.710 |
94681.340 |
92834.140 |
|
Debt/Equity
ratio |
1.480 |
1.128 |
1.144 |
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 |
78571.570 |
95063.010 |
96228.430 |
|
|
|
20.989 |
1.226 |
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 |
78571.570 |
95063.010 |
96228.430 |
|
Profit/ (Loss) |
1342.830 |
(555.250) |
(4695.470) |
|
|
1.71% |
(0.58%) |
(4.88%) |
LEGAL
CASES
HIGH COURT
|
SUN PARMA LABORATORIES LIMITED Vs. MYLAN LABORATORIES |
|
high court-Delhi |
|
Case no: CS(COMM) 1098/2016 I.A. 21119/2014 |
|
Case status: Pending |
|
Judge: HON BLE MR. JUSTICE R.K.GAUBA |
|
Date:2016-11-28 |
HIGH COURT
|
SRI J V PRASAD SC FOR INCOME TAX MS. MYLAN LABORATORIES LIMITED |
|
high court-Andhra Pradesh |
|
Case no: ITTAMP 154/2016 ITTASR 138/2016 |
|
Case status: Pending |
|
Judge: HON BLE SRI JUSTICE SANJAY KUMAR HON BLE MRS JUSTICE ANIS |
|
Date:2016-11-02 |
HIGH COURT
|
SUN PARMA LABORATORIES LIMITED Vs. MYLAN LABORATORIES LIMITED AND ANR |
|
high court-Delhi |
|
Case no: CS(OS) 3260/2014 I.A. 21119/2014 I.A. 11272/2015 |
|
Case status: Pending |
|
Judge: HON BLE MR. JUSTICE V. KAMESWAR RAO |
|
Date: 16/06/02 |
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 |
No |
|
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 |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from 1-1-151/1,Sairam Towers,4th Floor, Alexander Road, Secunderabad – 500003, Telangana, India to the present address w.e.f. 15.03.2011
BACKGROUND
The Company is engaged in the manufacture of Active Pharmaceutical Ingredients, Finished Dosage Formulations and Injectables and in research and development activities. The Company is a subsidiary of MP Laboratories (Mauritius) Limited and the ultimate holding company is Mylan N.V., Netherlands. The Company has manufacturing locations spread across India.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Bonds/debentures |
59371.420 |
60265.580 |
|
Other external commercial borrowings |
28015.200 |
26896.490 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from others |
2010.470 |
4405.640 |
|
Total |
89397.090 |
91567.710 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C36138147 |
90128817 |
ANDHRA BANK |
12/04/2005 |
06/07/2007 |
11/12/2014 |
186000000.0 |
R P. ROADSECUNDERABADSECUNDERABADAP500003IN |
|
2 |
C15233083 |
10038930 |
HDFC BANK LIMITED |
19/02/2007 |
20/03/2009 |
08/08/2014 |
450000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
3 |
C14790752 |
10015348 |
ABN AMRO BANK |
09/07/2006 |
20/03/2009 |
06/08/2014 |
450000000.0 |
6-3-24/1/1/A, ROAD NO. 1BANJARA HILLSHYDERABADAP500034IN |
|
4 |
C14053219 |
10179307 |
INDUSIND BANK LTD. |
21/07/2009 |
- |
31/07/2014 |
300000000.0 |
2401 GEN THIMMAYYA ROADCONTONMENTPUNEMH411001IN |
|
5 |
C14362313 |
10073046 |
Bank of Nova Scotia |
21/09/2007 |
29/12/2008 |
30/07/2014 |
400000000.0 |
6-3-341/1, Road No. 6Banjara HillsHyderabadAP500034IN |
|
6 |
C14362636 |
10155499 |
THE BANK OF NOVA SCOTIA |
20/03/2009 |
- |
30/07/2014 |
400000000.0 |
6-3-346/1, ROAD NO. 1BANJARA HILSHYDERABADAP500034IN |
|
7 |
C13672852 |
90130616 |
HDFC BANK LIMITED |
15/01/2005 |
08/06/2007 |
23/07/2014 |
434000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
8 |
C13669296 |
90130372 |
HDFC BANK LIMITED |
01/12/2003 |
- |
23/07/2014 |
262500000.0 |
LAKDIKAPUL BRANCHSADEED PLAZAHYDERABADAPIN |
|
9 |
C12053500 |
10198487 |
The Royal Bank of Scotland N. V. |
08/01/2010 |
29/07/2010 |
21/07/2014 |
470000000.0 |
74, Sakhar Bhavan,7th Floor, Nariman Point,MumbaiMH400021IN |
|
10 |
C12007159 |
10268093 |
DBS Bank Limited |
27/01/2011 |
- |
18/07/2014 |
480000000.0 |
SALARPURIA WINDSORNO.3, (OLD NO.10), ULSOOR ROAD, WARD NO. 78BANGALOREKA560042IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Claims against the company not acknowledged as debts: |
|
|
|
Income tax and indirect taxes claims disputed by the Company relating to issues of applicability and classification |
8741.310 |
6254.300 |
|
Others |
165.230 |
165.820 |
|
Total |
8906.54 |
6420.120 |
FIXED ASSETS
Tangible Assets:
· Freehold land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer hardware
· Electrical equipment
· Lab equipment
Intangible Asset:
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, 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 67.38 |
|
UK Pound |
1 |
INR 91.39 |
|
Euro |
1 |
INR 79.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
TEJ |
|
|
|
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.
·