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|
|
MIRA INFORM REPORT
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Report No. : |
509834 |
|
Report Date : |
19.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
CLARIS INJECTABLES PRIVATE LIMITED (w.e.f.
12.04.2018) |
|
|
|
|
Formerly Known
As : |
CLARIS INJECTABLES LIMITED (w.e.f. 03.09.2014) CLARIS
LIFESCIENCES INTERNATIONAL LIMITED (w.e.f. 30.04.2010) CLARIS
INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
Claris
Corporate Headquarters, Near Parimal Crossing, Ellisbridge, Ahmedabad - 380006,
Gujarat |
|
Tel. No.: |
91-79-26563331 |
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|
|
|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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|
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Date of
Incorporation : |
08.06.2005 |
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|
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|
Com. Reg. No.: |
04-046211 |
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|
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Capital
Investment / Paid-up Capital : |
INR 0.501 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U24230GJ2005PTC046211 (New) U24230GJ2005PLC046211 (Old) |
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IEC No.: [Import-Export Code No.] |
0814014186 |
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|
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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|
|
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TIN No: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCC6252B |
|
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufactures and markets products across various
therapeutic segments including Anesthesia, Plasma Volume Expanders, Blood
Products, Parenteral, Infusion therapy, Anti-infective and Renal Care.
(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 |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of “Claris Lifesciences Limited”
and was incorporated in the year 2005. It is having fine track records. For the financial year 2017, the company has increased its revenue
from operations as compared to previous and maintained decent profit margin
of 15.21%. Rating takes into consideration sound 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, long standing track records of business operation and
improvement in the revenue as well as profitability profile during the year. Trade relations are fair. Payment terms seems to be regular. In view of aforesaid, the company can be considered 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 |
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 19.05.2018
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.: 91-79-26563331)
LOCATIONS
|
Registered Office/ Corporate Office : |
Claris Corporate Headquarters, Near Parimal Crossing, Ellisbridge,
Ahmedabad – 380 006, Gujarat, India |
|
Tel. No. : |
91-79-26563331/ 66309339 |
|
Fax No. : |
91-79-26308053 |
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E-Mail : |
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|
Website : |
|
|
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|
|
Factory : |
Sarkhej-Bavla Road, Chacharvadi-Vasna, Ahmedabad
– 382 213, Gujarat, India |
|
Tel. No. : |
91-2717-661999 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Amish Pravinchandra Vyas |
|
Designation : |
Managing Director |
|
Address : |
89-400, Saraswati Nagar, Near Azad Society, Ambawadi, Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
17.09.1970 |
|
Date of Appointment : |
31.07.2017 |
|
DIN No.: |
00168292 |
|
PAN No.: |
AAKPV3987B |
|
Name : |
Mr. Minu Kumar Pilaniwala |
|
Designation : |
Additional Director |
|
Address : |
Near Police Station, VPO Chirawa, Jhunjhunu-333001, Rajasthan, India |
|
Date of Appointment : |
27.07.2017 |
|
PAN No.: |
AFRPP9187M |
|
DIN No: |
07252892 |
|
|
|
|
Name : |
Mr. Navin Kumar Sharma |
|
Designation : |
Additional Director |
|
Address : |
108-G, Pocket-IV, Mayur Vihar, Phase – I, Delhi -110091, India |
|
Date of Appointment : |
27.07.2017 |
|
DIN No: |
07805748 |
|
|
|
|
Name : |
Mrs. Shweta Dewan |
|
Designation : |
Additional Director |
|
Address : |
B-20, Shivalik, Delhi-110017, India |
|
Date of Appointment : |
27.07.2017 |
|
DIN No: |
07824344 |
|
|
|
|
Name : |
Mr. Ajay Srivastava |
|
Designation : |
Additional Director |
|
Address : |
Flat No. H-904, Heights Building, The Retreat Apartment, South City 1,
Gurgaon-122001, Haryana, India |
|
Date of Appointment : |
18.08.2017 |
|
DIN No: |
07910264 |
|
|
|
|
Name : |
Mr. Pratik Nupendrakumar Shah |
|
Designation : |
Additional Director |
|
Address : |
F-302, Kala Residency, Near Radio Mirchi Tower Times of India Press
Road, Satellite, Ahmedabad -380015, Gujarat, India |
|
Date of Appointment : |
18.08.2017 |
|
DIN No: |
07911855 |
KEY EXECUTIVES
|
Name : |
Mrs. Sheetal Sanjaykumar Brahmbhatt |
|
Designation : |
Company Secretary |
|
Address : |
GF 40, Punit Nagar, Old Padra Road, Vadodara 390007, Gujarat, India |
|
Date of Appointment : |
13.02.2017 |
|
PAN No.: |
CEBPB9257H |
|
|
|
|
Name : |
Minu Kumar Pilaniwala |
|
Designation : |
Chief Finance Officer |
|
Address : |
Near Police Station, VPO Chirawa, Jhunjhunu-333001, Rajasthan, India |
|
Date of Appointment : |
27.07.2017 |
|
PAN No.: |
AFRPP9187M |
|
|
|
|
Name : |
Spanj and Associates |
|
Designation : |
Company Secretaries |
|
Address : |
TF/1, Anison Complex, 3rd Floor, SBI Lane, Near Stadium Circle, C.G. Road, Navrangpura, Ahmedabad - 380009, Gujarat, India |
|
Tel. No: |
91-79-26421414/ 26421555 |
|
Mob. No: |
91-9825064740 |
|
Email: |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Claris Lifesciences Limited, India |
|
50000 |
|
Chandrasingh Shivrambhai Purohit |
|
10 |
|
Amish Pravinchandra Vyas |
|
10 |
|
Nirav
Mehta |
|
10 |
|
Chetankumar
Satyendra Majmudar |
|
10 |
|
Kirit Shah |
|
10 |
|
Roopesh Madan |
|
10 |
|
Total |
|
50060 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Claris Lifesciences Limited, India |
|
4840000 |
|
Total |
|
4840000 |
Equity Share Break up (Percentage of Total Equity)
As on: 18.07.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
99.88 |
|
Public/Other than promoters (Others - Beneficial interest held by Claris Lifesciences Limited) |
0.12 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Manufactures and markets products across various
therapeutic segments including Anesthesia, Plasma Volume Expanders, Blood
Products, Parenteral, Infusion therapy, Anti-infective and Renal Care.
(Registered Activity) |
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Products : |
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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 declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Heritage, 3rd Floor, Off Asharam Road, Ahmedabad-380014, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFD7919A |
|
Tel. No.: |
91.79-66827300 |
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Fax No.: |
91-79-66827400 |
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|
|
|
Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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Holding Company : |
Claris Lifesciences Limited (CIN No.: L85110GJ1994PLC022543) |
|
|
|
|
Ultimate Holding
Company |
Athanas Enterprises Private Limited, India (CIN
No.U51909GJ2013PTC075961) |
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Subsidiary |
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|
Fellow Subsidiaries |
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|
Companies over
which key managerial personnel and their relatives are able to exercise
significant influence |
|
CAPITAL STRUCTURE
After as on:
18.07.2017
Authorised Capital : INR
20000.000 Million
Issued, Subscribed & Paid-up Capital : INR 0.598 Million
As on 18.07.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000000 |
Equity Shares |
INR 10/- each |
INR 10000.000 Million |
|
10000000 |
Preference Shares |
INR 1000/- each |
INR 10000.000 Million |
|
|
Total
|
|
INR 20000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50060 |
Equity Shares |
INR 10/- each |
INR 0.501
Million |
|
4840000 |
Preference Shares |
INR 1000/- each |
INR 4840.000
Million |
|
|
|
|
INR 4840.501
Million |
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000000 |
Equity Shares |
INR 10/- each |
INR 10000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50060 |
Equity Shares |
INR 10/- each |
INR 0.501
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 |
0.501 |
0.501 |
0.501 |
|
(b) Reserves & Surplus |
1809.292 |
772.398 |
264.432 |
|
(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) |
1809.793 |
772.899 |
264.933 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3009.282 |
3399.952 |
2591.128 |
|
(b) Deferred tax liabilities (Net) |
277.438 |
0.000 |
72.379 |
|
(c) Other long term
liabilities |
40.559 |
42.220 |
0.000 |
|
(d) long-term
provisions |
117.995 |
91.220 |
66.299 |
|
Total Non-current
Liabilities (3) |
3445.274 |
3533.392 |
2729.806 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
848.923 |
926.737 |
1063.658 |
|
(b) Trade
payables |
777.371 |
780.048 |
605.556 |
|
(c) Other
current liabilities |
3420.373 |
5726.677 |
6435.402 |
|
(d) Short-term
provisions |
3042.900 |
932.700 |
53.666 |
|
Total Current
Liabilities (4) |
8089.567 |
8366.162 |
8158.282 |
|
|
|
|
|
|
TOTAL |
13344.634 |
12672.453 |
11153.021 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
8387.351 |
8249.952 |
8425.882 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
50.139 |
|
(iii) Capital
work-in-progress |
58.523 |
53.594 |
10.589 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(v)
Goodwill |
50.139 |
50.139 |
0.000 |
|
(b) Non-current Investments |
309.122 |
0.427 |
0.427 |
|
(c) Deferred tax assets (net) |
0.000 |
13.267 |
0.000 |
|
(d) Long-term Loan and Advances |
12.205 |
9.805 |
44.568 |
|
(e) Other
Non-current assets |
185.388 |
159.317 |
50.787 |
|
Total Non-Current
Assets |
9002.728 |
8536.501 |
8582.392 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
915.438 |
712.868 |
738.690 |
|
(c) Trade
receivables |
1569.692 |
1510.207 |
1241.239 |
|
(d) Cash
and cash equivalents |
1166.452 |
1326.561 |
322.824 |
|
(e) Short-term
loans and advances |
9.320 |
1.889 |
208.194 |
|
(f) Other
current assets |
681.004 |
584.427 |
59.682 |
|
Total
Current Assets |
4341.906 |
4135.952 |
2570.629 |
|
|
|
|
|
|
TOTAL |
13344.634 |
12672.453 |
11153.021 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
7427.040 |
4854.220 |
1411.200 |
|
|
Other Income |
36.590 |
42.639 |
45.138 |
|
|
TOTAL |
7463.630 |
4896.859 |
1456.338 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1239.381 |
1266.549 |
493.427 |
|
|
Purchases of
Stock-in-Trade |
619.795 |
114.696 |
22.736 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(110.953) |
7.142 |
(92.835) |
|
|
Employees benefits
expense |
846.747 |
529.714 |
152.471 |
|
|
Other expenses |
2183.973 |
1649.167 |
398.112 |
|
|
Exceptional items |
249.524 |
(249.524) |
(216.919) |
|
|
TOTAL |
5028.467 |
3317.744 |
756.992 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
2435.163 |
1579.115 |
699.346 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
348.463 |
371.824 |
168.436 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
2086.700 |
1207.291 |
530.910 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
271.374 |
256.444 |
96.807 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1815.326 |
950.847 |
434.103 |
|
|
|
|
|
|
|
Less |
TAX |
686.034 |
194.261 |
168.817 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1129.292 |
756.586 |
265.286 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
6530.611 |
839.330 |
156.072 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
22558.77 |
15113.58 |
5299.37 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
581.930 |
739.640 |
566.093 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
1940.722 |
1277.180 |
126.186 |
|
Net cash flows from (used in) operating activity |
1600.150 |
1117.817 |
76.124 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
77.14 |
113.56 |
321.04 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.73 |
3.21 |
1.14 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
152.62 |
206.13 |
428.21 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
2.66 |
2.22 |
0.95 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.29 |
0.19 |
0.08 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.88 |
0.99 |
1.01 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
2.45 |
6.55 |
15.93 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
4.47 |
10.82 |
30.79 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
4.69 |
10.81 |
32.03 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
6.99 |
4.25 |
4.15 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
15.21 |
15.59 |
18.80 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
8.46 |
5.97 |
2.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
62.40 |
97.89 |
100.13 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.54 |
0.49 |
0.32 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.42 |
0.41 |
0.22 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.14 |
0.06 |
0.02 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
8862.54 |
10112.43 |
8424.91 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.54 |
0.49 |
0.32 |
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 |
0.501 |
0.501 |
0.501 |
|
Reserves & Surplus |
264.432 |
772.398 |
1809.292 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
264.933 |
772.899 |
1809.793 |
|
|
|
|
|
|
long-term borrowings |
2591.128 |
3399.952 |
3009.282 |
|
Short term borrowings |
1063.658 |
926.737 |
848.923 |
|
Current maturities of
long-term debts |
566.093 |
739.640 |
581.930 |
|
Total
borrowings |
4220.879 |
5066.329 |
4440.135 |
|
Debt/Equity
ratio |
15.932 |
6.555 |
2.453 |
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 |
1411.200 |
4854.220 |
7427.040 |
|
|
|
243.978 |
53.002 |
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 |
1411.200 |
4854.220 |
7427.040 |
|
Profit /(Loss) |
265.286 |
756.586 |
1129.292 |
|
|
18.80% |
15.59% |
15.21% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
RESULTS OF OPERATIONS
AND STATE OF COMPANY AFFAIRS
During the financial year, the Company’s total revenue stood at INR 7463.630 Million as against INR 4896.859 Million in the previous year. EBITDA, PBT and PAT on basis reached to INR 2435.163 Million, INR 1815.326 Million and INR 1129.292 Million respectively. While EBITDA, PBT and PAT margins on stood at 36%, 24% and 15% respectively as against 27%, 19% and 15% respectively in previous year.
COMPANY INFORMATIONS
The Company is a public Company domiciled in India, a wholly-owned subsidiary of Claris Lifesciences Limited, is a sterile injectables pharmaceutical Company with its market presence across the world. The registered office of the Company is located at Claris Corporate Headquarters, Near Parimal Raiway Crossing, Ellisbridge, Ahmedabad. Claris manufactures and/or markets products across multiple delivery systems, markets, and therapeutic segments including anesthesia, blood products, anti-infective, and plasma volume expanders. A significant majority of these products are generic drugs, capable of being directly injected into the human body, predominantly used in the treatment of critical illnesses. The customer base of the Company primarily includes government and private hospitals, aid agencies, and nursing homes. With emphasis on quality, technology, and innovation, the Company offer a range of niche technology-driven injectable products across delivery systems such as glass bottles, vials & ampoules, and non-PVC/PVC bags.
The Company has three manufacturing facilities at a campus located in Ahmedabad, India. Sterile injectables facilities have been approved by regulatory authorities including US FDA, MHRA (UK), TGA (Australia), and GCC FDCA.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Other loans and advances |
0.000 |
313.424 |
|
|
|
|
|
Total |
0.000 |
313.424 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G03892585 |
100027726 |
ICICI BANK LIMITED |
19/09/2015 |
- |
- |
700000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGu390015IN |
|
2 |
G82551664 |
100027727 |
ICICI BANK LIMITED |
18/09/2015 |
- |
05/03/2018 |
1000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGu390015IN |
|
3 |
G78407376 |
100023480 |
Andhra Bank |
29/03/2016 |
- |
09/02/2018 |
1177000.0 |
Parimal Garden BranchAhmedabadGJ380006IN |
|
4 |
G49308646 |
10528638 |
Canara Bank |
31/10/2014 |
15/10/2016 |
27/07/2017 |
5649600000.0 |
Prime Corporate Branch, 104, Jyoti Commercial CompNear Shyamal cross road, Satellite, VejalpurAhmedabadGJ380015IN |
|
5 |
G49308265 |
10528664 |
Canara Bank |
31/10/2014 |
12/01/2017 |
27/07/2017 |
5649600000.0 |
Prime Corporate Branch, 104, Jyoti Commercial CompNear Shyamal cross road, Satellite, VejalpurAhmedabadGJ380015IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Bills discounted |
80.512 |
217.855 |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
- Vehicle
- Computer
Accessories
- 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,
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 67.96 |
|
|
1 |
INR 91.88 |
|
Euro |
1 |
INR 80.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
STL |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.