MIRA INFORM REPORT

 

 

Report No. :

510034

Report Date :

22.05.2018

 

 

IDENTIFICATION DETAILS

 

Name :

GENNOVA BIOPHARMACEUTICALS LIMITED

 

 

Registered Office :

Emcure House, T-184, MIDC Bhosari, Pune-411026, Maharashtra

Tel. No.:

91-20-30610000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

19.06.2001

 

 

Com. Reg. No.:

11-016253

 

 

Capital Investment / Paid-up Capital :

INR 55.114 Million

 

 

CIN No.:

[Company Identification No.]

U24231PN2001PLC016253

 

 

IEC No.:

[Import-Export Code No.]

3102008402

 

 

PAN No.:

[Permanent Account No.]

AABCE0008Q

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :
  • Research and Development, Manufacturing and Marketing of biopharmaceuticals products (Registered Activity)

 

  • Manufacturer of Hematinic, Erythropoietin Preparation and Anti- Bacteria Formulation. (Confirmed by management)

 

 

No. of Employees :

3000 (Approximately)

 

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 1500000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Gennova Biopharmaceuticals Limited (GBL) is engaged in the Research & Development (R&D) for own and on contract basis, manufacturing & marketing of biotech products and marketing of pharmaceutical products. The company caters mainly to chronic therapeutic segments including oncology, nephrology and cardiology. GBL has its manufacturing facilities and R&D centre at Hinjewadi, Pune.


For the financial year ended 2017, revenue and profit of the company has declined.

However, the company possesses sound financial profile marked by healthy net worth base along with fair debt level and favourable gap between trade payables to its trade receivables.


The ratings also continue to derive strength from long track record and promoters’ vast experience of over three decades in the pharmaceutical industry.

Trade relations are reported as fair. Business is active. Payment terms are seems to be regular and as per commitments.


In view of the aforesaid, the company can be considered for 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.

 

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

CARE

Rating

Long term rating = A+ (SO)

Rating Explanation

Adequate degree of safety and low credit risk

Date

09.10.2017

 

Rating Agency Name

CARE

Rating

Short term rating = A1 (SO)

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

09.10.2017

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2018.

 

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

 

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 22.05.2018

 

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 PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Manoj

Designation :

Accounts Manager

Contact No.:

91-20-30610000

Date :

20.05.2018

 

 

LOCATIONS

 

Registered Office :

Emcure House, T-184, MIDC Bhosari, Pune-411026, Maharashtra, India

Tel. No.:

91-20-30610000

Mobile No.:

91-9158181915 (Mr. Gaurav)

Fax No.:

91-20-30610111

E-Mail :

gennova.finance@emcure.co.in

corporate@emcure.co.in 

Website :

www.emcure.co.in

Location:

Owned

Locality:

Commercial

 

 

Biotechnology Research and Development / Formulation – Injectables :

Plot No. P1 IT-BT Park, Phase -2, MIDC, Hinjewadi, Pune-411057, Maharashtra, India

Tel. No.:

91-20-39821300

Fax No.:

91-20-39821441

 

 

MANUFACTURING FACILITIES :

 

API Manufacturing

Plot No. D-24, M.I.D.C., Kurkumbh, Daund, Pune-413802, Maharashtra, India

Tel. No.:

91-2117-305000 / 235742

Fax No.:

91-2117-235743

 

 

Formulation – Solids  :

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


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

Tele No.: 91-20 -39821300

Fax No.: 91-20-39821340

 

 

Small Batch Manufacturing :

Plot No. PII IT-BT Park, Phase -2, MIDC, Hinjewadi, Pune-411057, Maharashtra, India

Tel. No.:

91-20-39821300

Fax No.:

91-20-39821444

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Sanjay Singh

Designation :

Whole Time Director

Address :

Row House No.14, Atulexcellency, SR No.207/2, Wakad, Pune-411057, Maharashtra, India

Date of Birth/Age :

30.03.1967

Date of Appointment :

19.04.2007

PAN No.:

ACXPS6663E

DIN No.:

01693705

 

Name :

Mr. Sunil Rajanikant Mehta

Designation :

Director

Address :

4, Mumbai-Pune Road, Kirkee, Pune-411003, Maharashtra, India

Date of Birth/Age :

23.03.1963

Date of Appointment :

19.06.2001

PAN No.:

AAUPM2926K

DIN No.:

00118469

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U24231PN1981PLC024251

EMCURE PHARMACEUTICALS LIMITED

05/06/2013

-

U72100PN2000PTC015368

EMCURE INFOTECH LIMITED

15/01/2001

-

 

 

Name :

Mr. Satish Ramanlal Mehta

Designation :

Director

Address :

4, Mumbai-Pune Road, Kirkee, Pune-411003, Maharashtra, India

Date of Birth/Age :

13.01.1951

Date of Appointment :

01.04.2015

PAN No.:

AAVPM4447J

DIN No.:

00118691

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U24231PN1981PLC024251

EMCURE PHARMACEUTICALS LIMITED

01/04/2012

-

U24232PN2005PLC020815

LASOR PHARMACEUTICALS LIMITED

28/07/2010

-

U72100PN2000PTC015368

EMCURE INFOTECH LIMITED

29/09/2000

-

U85320PN2002PLC018324

ZUVENTUS HEALTHCARE LIMITED

03/07/2002

-

 

 

Name :

Nirmal Kumar Ganguly

Designation :

Additional Director

Address :

701, Gayatri Apartment Gh-6, Sector-45, Faridabad- 121003, Haryana, India

Date of Appointment :

30.10.2017

DIN No.:

03406994

Other Directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U85110DL2004PLC126414

ARTEMIS MEDICARE SERVICES LIMITED

12/09/2014

-

 

 

Name :

Mr. Shreekant Krushnaji Bapat

Designation :

Director

Address :

Yashodhan, 2nd Floor, 56 United Western Co-operative Housing Society, Karvenagar, Pune-411052, Maharashtra, India

Date of Birth/Age :

06.10.1937

Date of Appointment :

18.05.2009

PAN No.:

AAXPB9453H

DIN No.:

00621568

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U24231PN1981PLC024251

EMCURE PHARMACEUTICALS LIMITED

26/06/1999

-

U73200PN1980PLC023108

UNITED SOCIO-ECONOMIC DEVELOPMENT AND RESEARCHN PROGRAMME

09/12/1995

-

U85320PN2002PLC018324

ZUVENTUS HEALTHCARE LIMITED

03/07/2002

-

 

 

Name :

Mr. Samit Satish Mehta

Designation :

Director

Address :

4, Mumbai - Pune Road, Kirkee, Pune-411003, Maharashtra, India

Date of Birth/Age :

04.04.1980

Date of Appointment :

27.07.2012

PAN No.:

AEQPM5962F

DIN No.:

00332562

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U15400PN2010PTC137416

UTH SNACKS PRIVATE LIMITED

28/09/2010

-

U15549PN2006PTC021813

UTH BEVERAGE FACTORY PRIVATE LIMITED

10/01/2006

-

 

 

Name :

Mr. Girish Laxmikant Telang

Designation :

Director

Address :

401, Sagar Darshan, 4th Floor, Abdul Gaffar Khan Road, Worli Sea Face, Mumbai-400030, Maharashtra, India

Date of Birth/Age :

28.11.1949

Date of Appointment :

27.07.2017

PAN No.:

AAAPT1950E

DIN No.:

00455125

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U24231PN1981PLC024251

EMCURE PHARMACEUTICALS LIMITED

10/08/2012

-

 

 

Name :

Mr. Gyan Chandra Mishra

Designation :

Additional Director

Address :

A 5/4, Subhashree Woods Shivar Chowk, Pimple Saudagar, Pune- 411027, Maharashtra, India 

Date of Appointment :

30.10.2017

DIN No.:

07961334

 

 

KEY EXECUTIVES

 

Name :

Mr. Tajuddin Sabir Shaikh

Designation :

Chief Finance Officer

Address :

Flat No. 15, Parmar Garden Wanawdi, Pune -411040, Maharashtra, India 

Date of Appointment :

01.11.2014

PAN No.:

AKQPS1951G

 

 

Name :

Rutuja Dilip Gohad

Designation :

Company Secretary

Address :

"Rasik", Samatanagar Colony Rajyakarmachari Society, Savedi, Ahmednagar- 414003 , Maharashtra, India 

Date of Appointment :

16.05.2015

PAN No.:

ARDPG7824N

 

MAJOR SHAREHOLDERS

 

As on 08.08.2017

 

Names of Shareholders (Equity share)

No. of Shares

Satish Ramanlal Mehta

660

Sunil Rajanikant Mehta

690

Sanjay Rajanikant Mehta

690

Samit Satish Mehta

230

Emcure Pharmaceuticals Limited

4847500

Sanjay Bhanu Krishna Narain F Singh

661365

Bhavna Satish Mehta

230

Total

5511365

 

Names of Shareholders (Preference share)

 

No. of Shares

Emcure Pharmaceuticals Limited

10000000

Zuventus Healthcare Limited

45000000

Total

55000000

 

Equity Share Break up (Percentage of Total Equity)

 

As on 08.08.2017

 

Category

Percentage

Promoters (Body corporate)

87.95

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

12.05

Total 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :
  • Research and Development, Manufacturing and Marketing of biopharmaceuticals products (Registered Activity)

 

  • Manufacturer of Hematinic, Erythropoietin Preparation and Anti- Bacteria Formulation. (Confirmed by management)

 

 

Products / Services :

Item Code No.

Products/Services Description

30045010

Medicaments (Biopharmaceutical Products)

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Products :
  • Hematinic
  • Erythropoietin Preparation
  • Anti- Bacteria Formulation

Countries :

United States

 

 

Imports :

Products :

Raw Material

Countries :
  • China
  • United States of America

 

 

Terms :

 

Selling :

L/C, Advance Payment, Cash and Credit

 

 

Purchasing :

L/C, Advance Payment, Cash and Credit

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

U.S.V. Limited

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

Wholesalers

 

Reference :

Path India Limited

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

3000 (Approximately)

 

 

Bankers :
  • HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra India
  • Kotak Mahindra Bank Limited, 4th Floor, Nyati Unitreesamrat Ashok Marg (Nagar Road), Pune-411006 Maharashtra India
  • Bank of Maharashtra, Tejsingh Building, 35/B, Mumbai Pune Highway, Dapodi, Pune-411012, Maharashtra India
  • Citi Bank N.A., 37/3, Ground Floor, Onyx Tower, Ghorpadi, Near Westin Hotel, North Koregaon Park, Main Road Pune-411001, Maharashtra India

 

Banker Name :

Bank of India

Branch :

Dapodi, Pune-411012, Maharashtra, India

Person Name (With Designation) :

--

Contact Number :

91-20-27146748 (Continuously ringing)

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Rupee term loans from banks

123.003

44.000

Term loans from others

8.132

19.693

 

 

 

Short-term borrowings

 

 

Working capital loans from banks

176.128

48.213

 

 

 

Total

307.263

111.906

 

Auditors :

 

Name :

Price Waterhouse

Chartered Accountants

Address :

Price Waterhouse, 7th Floor, Tower -A, Wing 1, Business Bay, Airport Road, Yerwada, Pune- 411006, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AAEFP3641G

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company:
  • Emcure Pharmaceuticals Limited

 

 

Fellow Subsidiary
  • Zuventus Healthcare Limited
  • Emcure Pharma Peru S.A.C
  • Konsina Ilac Sanayi Ve Dis Ticaret A. S.
  • Emcure Brasil Farmaceutica Ltda

 

 

Enterprise over which Key Management Personnel have significant influence:
  • H.M. Sales Corporation

 

CAPITAL STRUCTURE

 

As on 08.08.2017

 

No. of Shares

Type

Value

Amount

 

 

 

 

10000000

Equity Shares

INR10/- each

INR 100.000 Million

55000000

Preference Shares

INR10/- each

INR 550.000 Million

 

Total

 

INR 650.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5511365

Equity Shares

INR10/- each

INR 55.114 Million

55000000

Preference Shares

INR10/- each

INR 550.000 Million

 

Total

 

INR 605.114 Million

 

 

 

As on 31.03.2017

 

No. of Shares

Type

Value

Amount

 

 

 

 

10000000

Equity Shares

INR10/- each

INR 100.000 Million

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5511365

Equity Shares

INR10/- each

INR 55.114 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

55.114

55.114

605.114

(b) Reserves & Surplus

470.924

387.939

(109.063)

(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)

526.038

443.053

496.051

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

605.124

515.578

312.342

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

26.864

21.051

10.876

(d) long-term provisions

13.808

11.465

8.145

Total Non-current Liabilities (3)

645.796

548.094

331.363

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

176.128

48.213

95.220

(b) Trade payables

80.524

99.227

107.871

(c) Other current liabilities

183.105

168.191

149.885

(d) Short-term provisions

66.709

52.921

23.950

Total Current Liabilities (4)

506.466

368.552

376.926

 

 

 

 

TOTAL

1678.300

1359.699

1204.340

 

 

 

 

II.    ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

665.096

562.986

561.070

(ii) Intangible Assets

2.340

2.454

0.644

(iii) Capital work-in-progress

27.830

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

175.037

131.729

87.490

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

228.756

89.711

0.741

Total Non-Current Assets

1099.059

786.880

649.945

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

410.371

218.991

228.161

(c) Trade receivables

125.781

183.066

124.159

(d) Cash and cash equivalents

0.231

1.673

30.643

(e) Short-term loans and advances

0.000

0.000

4.671

(f) Other current assets

42.858

169.089

166.761

Total Current Assets

579.241

572.819

554.395

 

 

 

 

TOTAL

1678.300

1359.699

1204.340

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

1561.186

1679.054

1091.869

 

Other Income

78.025

70.477

17.603

 

TOTAL

1639.211

1749.531

1109.472

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

151.188

178.564

141.303

 

Purchases of Stock-in-Trade

260.030

192.278

158.218

 

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

(149.195)

12.967

(67.162)

 

Employees benefits expense

355.134

303.726

276.123

 

Other expenses

766.807

703.559

587.974

 

TOTAL

1383.964

1391.094

1096.456

 

 

 

 

 

 

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

255.247

358.437

13.016

 

 

 

 

 

Less

FINANCIAL EXPENSES

72.665

84.414

57.289

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

182.582

274.023

(44.273)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

121.675

122.457

135.859

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

60.907

151.566

(180.132)

 

 

 

 

 

Less

TAX

(23.350)

(100.891)

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

84.257

252.457

(180.132)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

53.830

17.530

1.770

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

 

 

Basic

15.29

45.80

(32.68)

Diluted

5.10

15.29

(32.68)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

79.331

98.004

106.092

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

54.797

273.426

(41.969)

Net cash flows from (used in) operating activity

39.860

242.682

(43.533)

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

29.41

39.80

41.51

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

12.41

9.17

8.79

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

71.47

97.66

131.45

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.62

1.64

0.06

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.37

0.63

0.02

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.71

0.72

0.66

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

1.64

1.49

1.04

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.96

0.83

0.76

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

1.32

1.28

1.13

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

3.51

4.25

0.23

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

5.40

15.04

(16.50)

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

5.02

18.57

(14.96)

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

16.02

56.98

(36.31)

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.14

1.55

1.47

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.33

0.96

0.87

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.31

0.33

0.41

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

15.61

12.01

0.85

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.14

1.55

1.47

 

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

605.114

55.114

55.114

Reserves & Surplus

(109.063)

387.939

470.924

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

496.051

443.053

526.038

 

 

 

 

long-term borrowings

312.342

515.578

605.124

Short term borrowings

95.220

48.213

176.128

Current maturities of long-term debts

106.092

98.004

79.331

Total borrowings

513.654

661.795

860.583

Debt/Equity ratio

1.035

1.494

1.636

 

 

 

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

1091.869

1679.054

1561.186

 

 

53.778

(7.020)

 

 

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

1091.869

1679.054

1561.186

Profit/(Loss)

(180.132)

252.457

84.257

 

(16.50)%

15.04%

5.40%

 

 

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

Yes

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)

Yes

16]

No. of employees

Yes

17]

Details of sister concerns

Yes

18]

Major suppliers

Yes

19]

Major customers

Yes

20]

Banking Details

Yes

21]

Banking facility details

Yes

22]

Conduct of the banking account

--

23]

Financials, if provided

Yes

24]

Capital in the business

Yes

25]

Last accounts filed at ROC, if applicable

Yes

26]

Turnover of firm for last three years

Yes

27]

Reasons for variation <> 20%

--

28]

Estimation for coming financial year

No

29]

Profitability for last three years

Yes

30]

Major shareholders, if available

Yes

31]

External Agency Rating, if available

Yes

32]

Litigations that the firm/promoter involved in

--

33]

Market information

--

34]

Payments terms

Yes

35]

Negative Reporting by Auditors in the Annual Report

No

 

RESULT OF OPERATIONS

The Company achieved gross revenue of INR 1561.180 million and the operating profit before Finance costs, Depreciation and Tax was INR 255.250 million as compared to INR 358.410 million in the previous year.

 

UNSECURED LOAN

PARTICULAR

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Rupee term loans from others

148.252

143.746

Liability component of compound financial instruments

342.766

312.534

Other loans and advances

(17.029)

(4.395)

Total

473.989

451.885

 

INDEX OF CHARGES

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G79944518

100161734

HDFC BANK LIMITED

21/02/2018

-

-

1580000.0

HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI-400013 MAHARASHTRA INDIA

2

G65523839

100135916

KOTAK MAHINDRA BANK LIMITED

30/10/2017

-

-

130000000.0

4TH FLOOR, NYATI UNITREESAMRAT ASHOK MARG (NAGAR ROAD) PUNE-411006 MAHARASHTRA INDIA

3

G68466994

100138015

HDFC BANK LIMITED

23/08/2017

-

-

3100000.0

HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI-400013 MAHARASHTRA INDIA

4

G55169171

100126171

BANK OF MAHARASHTRA

11/01/2017

-

-

220000000.0

TEJSINGH BUILDING, 35/B, MUMBAI PUNE HIGHWAY DAPODI PUNE-411012 MAHARASHTRA INDIA

5

G55167670

100126176

BANK OF MAHARASHTRA

11/01/2017

-

-

20000000.0

TEJSINGH BUILDING, 35/B, MUMBAI PUNE HIGHWAYDAPODIPUNEMH411012 MAHARASHTRA INDIA

6

C56547706

10348677

BIOTECHNOLOGY INDUSTRY RESEARCH ASSISTANCE COUNCIL

24/03/2012

05/06/2015

-

22744109.0

MTNL BUILDING, 1ST FLOOR,9 CGO COMPLEX, LODI ROAD NEW DELHI-110003 INDIA

7

C38386181

10280696

BIOTECHNOLOGY INDUSTRY RESEARCH ASSISTANCE COUNCIL

23/03/2011

13/05/2014

-

28499800.0

MTNL BUILDING, 1ST FLOOR,9 CGO COMPLEX, LODI ROADNEW DELHI-110003 INDIA

8

C15824279

90086867

THE BANK OF MAHARASHTRA LIMITED

30/06/2004

27/06/2014

-

120000000.0

TEJSINGH BUILDING, 35/B, MUMBAI PUNE HIGHWAY DAPODI PUNE-411012 MAHARASHTRA INDIA

9

G69072858

10311044

Bank of Maharashtra

13/10/2011

-

09/11/2017

240000000.0

TEJSINGH BUILDING, 35/BMUMBAI PUNE HIGHWAY, DAPODI PUNE-411012 MAHARASHTRA INDIA

10

G51318541

10115590

Citi Bank N.A.

10/07/2008

31/03/2016

10/08/2017

130000000.0

37/3, GROUND FLOOR, ONYX TOWER, GHORPADI,NEAR WESTIN HOTEL, NORTH KOREGAON PARK, MAIN ROAD PUNE-411001 MAHARASHTRA INDIA

 

CONTINGENT LIABILITIES:

 

(INR in million)

PARTICULARS

31.03.2017

31.03.2016

Claims against company not acknowledged as debt

5.587

4.548

Total

5.587

4.548

 

FIXED ASSETS

  • Leasehold Land
  • Building
  • Plant and Machinery
  • Computers
  • Office Equipment’s
  • Furniture and Fixtures
  • Computer Software
  • Vehicles
  • Product Development

 

 

 

 

 

 

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 67.52

UK Pound

1

INR 91.48

Euro

1

INR 80.52

 

 

INFORMATION DETAILS

 

Information Gathered by :

POON

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

RKI

 

 

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

YES

--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.