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|
MIRA INFORM REPORT
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Report No. : |
511953 |
|
Report Date : |
29.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
ALEMBIC PHARMACEUTICALS LIMITED (w.e.f. 12.03.2011) |
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Formerly Known
As : |
ALEMBIC PHARMA LIMITED |
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Registered
Office : |
Alembic Road, Gorwa, Vadodara - 390003, Gujarat |
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Tel. No.: |
91-265-2280550/ 2280880/ 3007000/ 2282506 |
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Country : |
India |
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Financials (as
on) : |
31.03.2018 |
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Date of
Incorporation : |
16.06.2010 |
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Com. Reg. No.: |
04-061123 |
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Capital
Investment / Paid-up Capital : |
INR 377.000 Million |
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CIN No.: [Company Identification
No.] |
L24230GJ2010PLC061123 |
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IEC No.: [Import-Export Code No.] |
3410006061 |
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TIN No.: |
11985550713 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAICA5591M |
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GSTN : [Goods & Service Tax
Registration No.] |
24AAICA5591M1Z9 |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturing and Selling of Pharmaceuticals Products i.e. Active Pharmaceutical Ingredients and Formulations. [Registered Activity] |
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No. of Employees : (As on 31.03.2017) |
8825 (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 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2010 and is engaged in manufacturing of pharmaceuticals. Its products include active pharmaceuticals ingredients, bulk pharma chemicals, formulations, herbal nutraceuticals, and veterinary and collaborated research services.
|
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 = AA+ |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
03.05.2018 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Commercial paper = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
03.05.2018 |
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 29.05.2018
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.: 91-265-2280550 / 3007000 / 2280880)
91-9004085531 /
9177909974 / 9833933029 (RINGING)
LOCATIONS
|
Registered / Corporate Office/ Factory 1 : |
Alembic Road, Gorwa, Vadodara - 390003, Gujarat, India |
|
Tel. No.: |
91-265-2280550/ 2280880/ 3007000/ 2282506 |
|
Mobile No.: |
91-9004085531 (Mr. Warade) 91-9177909974 (Mr. Praveen Gupta) 91-9833933029 (Mr. Milind Nagode) |
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Fax No.: |
91-265 -2281508/ 2284728/ 2282506 / 2281229 |
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E-Mail : |
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Website : |
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Corporate office : |
2nd Floor, Prime Corporate Park, Behind ITC Grand Maratha
Sheraton, Sahar Road, Andheri (East), Mumbai - 400099, Maharashtra, India |
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Tel. No.: |
91-22-30611666 |
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Factory 2 : |
Panelav, Taluka Halol, District Panchmahal-389350, Gujarat, India |
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Factory 3 : |
Plot No. 21/22, EPIP, Phase-I, Jhamajri, Baddi, Tehsil – Nalagarh,
Solan – 173205, Himachal Pradesh, India |
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Factory 4 : |
Village Karakhadi, Taluka Padra, District Vadodara, Gujarat, India |
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Factory 5 : |
Samardung Basti, Karek Block, Namthang, South Sikkim, India |
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Research Centre : |
Division of Alembic Limited, Alembic Campus, Vadodara – 390003, Gujarat, India |
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Tel No.: |
91-265-3007989/ 3007874/ 3007652/ 3007300 |
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|
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Research and Development Centre : |
Lab Suites 111,112,114,123,124, Block-1, MN Park, Genome Valley, Shameerpet Mandal, Turkapally Village, Hyderabad - 500078, Telangana, India |
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Tel. No.: |
91-40-30573036 |
DIRECTORS
As on 2018
|
Name : |
Mr. Chirayu Ramanbhai Amin |
|
Designation : |
Wholetime Director |
|
Address : |
F 10/195, Race Course Circle, Gorti Road, Vadodara - 390007, Gujarat, India |
|
Date of Birth/Age : |
04.12.1946 |
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Qualification : |
M.B.A |
|
Experience : |
34 Years |
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Date of Appointment : |
16.06.2010 |
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PAN No.: |
ABMPA5729P |
|
DIN No.: |
00242549 |
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|
|
Name : |
Mr. Pranav Chirayu Amin |
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Designation : |
Managing Director |
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Date of Birth/Age : |
42 Years |
|
Qualification : |
M.B.A |
|
Experience : |
17 Years |
|
Date of Appointment : |
31.03.2011 |
|
DIN No.: |
00245099 |
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|
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|
Name : |
Dr. Archana Niranjan Hingorani |
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Designation : |
Independent
Director |
|
Address : |
10, Jeevan Dhara, Dr. Ambedkar Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
70
Years |
|
Qualification : |
M.B.A |
|
Experience : |
34
Years |
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Date of Appointment : |
04.02.2015 |
|
DIN No.: |
00028037 |
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|
|
|
Name : |
Mr. Paresh Manilal Saraiya |
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Designation : |
Independent
Director |
|
Address : |
18, Charotar Society, Old Padra Road, Vadodara - 390020, Gujarat, India |
|
Date of Appointment : |
31.03.2011 |
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DIN No.: |
00063971 |
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Name : |
Mr. Krishnapuram Ramanathan |
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Designation : |
Director |
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Address : |
Srinidhi Bunglow, No. 1, Octroi Naka, Gotri Road, Vadodara – 390021, Gujarat, India |
|
Date of Appointment : |
31.03.2016 |
|
DIN No.: |
00243928 |
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|
|
|
Name : |
Mr. Shaunak Chirayu Amin |
|
Designation : |
Managing Director |
|
Address : |
F10/195, Race Course Circle, Gotri Road, Vadodara - 390007, Gujarat, India |
|
Date of Birth/Age : |
39 Years |
|
Qualification : |
B.A |
|
Experience : |
14 Years |
|
Date of Appointment : |
02.05.2013 |
|
DIN No.: |
00245523 |
|
|
|
|
Name : |
Mr. Pranav Natverlal Parikh |
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Designation : |
Managing Director |
|
Address : |
F10/195, Race Course Circle, Gotri Road, Vadodara – 390007, Gujarat, India |
|
Date of Birth/Age : |
18.02.1943 |
|
Date of Appointment : |
31.03.2011 |
|
DIN No.: |
00318726 |
|
|
|
|
Name : |
Mr. Milin Kaimas Mehta |
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Designation : |
Independent
Director |
|
Address : |
204 Meghdhanush Appartment, Racecourse Circle, Vadodara – 390007, Gujarat, India |
|
Date of Appointment : |
31.03.2011 |
|
DIN No.: |
01297508 |
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|
|
|
Name : |
Mr. Rajkumar Shreeram Baheti |
|
Designation : |
Wholetime Director |
|
Address : |
B-2-302, Orcadia, Nautilus Complex, Off Vasna Road, Vadodara – 390007, Gujarat, India |
|
Date of Appointment : |
31.03.2011 |
|
DIN No.: |
00332079 |
KEY EXECUTIVES
|
Name : |
Mr. Rajkumar Shreeram Baheti |
|
Designation : |
Chief Finance Officer |
|
Address : |
B-2-302, Orcadia, Nautilus Complex, Off Vasna Road,
Vadodara – 390007, Gujarat, India |
|
Date of Appointment : |
28.07.2014 |
|
PAN No.: |
ABXPB2161K |
|
|
|
|
Name : |
Mr. Ajay Kumar Desai |
|
Designation : |
Company Secretary |
|
Address : |
C-504, Lakshachandi Heights, Gokuldham, Goragaon (East), Mumbai – 400063, Maharashtra, India |
|
Date of Appointment : |
28.07.2014 |
|
PAN No.: |
ABWPD3196M |
|
|
|
|
Name : |
Mr. Chirayu Ramanbhai Amin |
|
Designation : |
Chairman
and Chief Executive Officer |
|
Address : |
F 10/195, Race Course Circle, Gorti Road, Vadodara - 390007, Gujarat, India |
|
Date of Appointment : |
27.04.2016 |
|
PAN No.: |
ABMPA5729P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on March, 2018
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares |
|
|
Promoter and Promoter Group |
137478753 |
72.68 |
|
|
Public |
51037161 |
27.32 |
|
|
Grand Total |
188515914 |
100.00 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER
GROUP
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu undivided Family |
10670955 |
5.66 |
|
|
Chirayu Ramanbhai Amin |
4521465 |
2.40 |
|
|
Malika Chirayu Amin |
3005730 |
1.59 |
|
|
Pranav Chirayu Amin |
1009800 |
0.54 |
|
|
Shaunak Chirayu Amin |
1006980 |
0.53 |
|
|
Udit Chirayu Amin |
1006980 |
0.53 |
|
|
Inaaya Shaunak Amin |
30000 |
0.02 |
|
|
Naintara Shaunak Amin |
30000 |
0.02 |
|
|
Ranvir Pranav Amin |
30000 |
0.02 |
|
|
Samira Pranav Amin |
30000 |
0.02 |
|
|
Any Other (specify) |
126807798 |
67.27 |
|
|
Alembic Limited |
55471208 |
29.43 |
|
|
Shreno Ltd |
20698780 |
10.98 |
|
|
Nirayu Pvt Limited |
49336655 |
26.17 |
|
|
Paushak Limited |
855 |
0.00 |
|
|
Vidyanidhi Trust |
809550 |
0.43 |
|
|
Arogyavardhini Society |
280950 |
0.15 |
|
|
Utkarsh Vidyakendra |
146250 |
0.08 |
|
|
Ujjwal Vidyalaya |
62250 |
0.03 |
|
|
Laburnum Family Trust |
200 |
0.00 |
|
|
Virsad Family Trust |
200 |
0.00 |
|
|
Viramya Packlight LLP |
900 |
0.00 |
|
|
Sub Total A1 |
137478753 |
72.93 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
137478753 |
72.93 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
9086820 |
4.82 |
|
|
ICICI Prudential Mutual Fund |
5758638 |
3.05 |
|
|
Alternate Investment Funds |
71621 |
0.04 |
|
|
Foreign Portfolio Investors |
17269110 |
9.16 |
|
|
Elara India Opportunities Fund Limited |
2367979 |
1.26 |
|
|
Matthews India Fund |
3880414 |
2.06 |
|
|
Cresta Fund Limited |
2547710 |
1.35 |
|
|
Financial Institutions/ Banks |
571906 |
0.30 |
|
|
Sub Total B1 |
26999457 |
14.32 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
B3) Non-Institutions |
0 |
0.00 |
|
|
Individual share capital upto INR 0.200 Million |
15385350 |
8.16 |
|
|
Individual share capital in excess of INR 0.200 Million |
4526222 |
2.40 |
|
|
Any Other (specify) |
4126132 |
2.19 |
|
|
Trusts |
11797 |
0.01 |
|
|
HUF |
430035 |
0.23 |
|
|
Non-Resident Indian (NRI) |
640082 |
0.34 |
|
|
Unclaimed or Suspense or Escrow Account |
778008 |
0.41 |
|
|
Clearing Members |
61741 |
0.03 |
|
|
Bodies Corporate |
2204369 |
1.17 |
|
|
Foreign Portfolio Investor (Category - III) |
100 |
0.00 |
|
|
Sub Total B3 |
24037704 |
12.75 |
|
|
B=B1+B2+B3 |
51037161 |
27.07 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Pharmaceuticals Products i.e. Active Pharmaceutical Ingredients and Formulations. [Registered Activity] |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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||||
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : (As on 31.03.2017) |
8825 (Approximately) |
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Bankers : |
|
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Statutory Auditors
: |
|
|
Name : |
K. S. Aiyar and Company Chartered Accountants |
|
Address : |
# F-7 Laxmi Mills, Shakti Mills Lane (Off Dr. E Moses Road),
Mahalaxmi, Mumbai - 400011, Maharashtra, India |
|
Tel. No.: |
91-22-24932502/ 66551770 |
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Mobile No.: |
91-22-66551774 |
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E-Mail : |
|
|
Website : |
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|
|
Secretarial
Auditors: |
|
|
Name : |
Samdani Shah and Kabra Chartered Accountants |
|
|
|
|
Secretarial
Auditors: |
|
|
Name : |
H. R. Kapadia Chartered Accountants |
|
|
|
|
Internal Auditors: |
|
|
Name : |
Ernst and Young LLP Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary and Fellow Subsidiary: (As on 31.03.2017) |
·
Alembic Global Holding SA. (Subsidiary of Alembic Pharmaceuticals
Limited) ·
Alembic Pharmaceuticals Australia Pty Limited (Subsidiary of Alembic Global Holding SA.) ·
Alembic Pharmaceuticals Europe Limited (Subsidiary of Alembic Global Holding SA.) ·
Alnova Pharmaceuticals SA (Subsidiary of Alembic Global Holding SA.) ·
Alembic Pharmaceuticals Inc. (Subsidiary of Alembic Global Holding SA.) ·
Alembic Pharmaceuticals Canada Limited
(Subsidiary of Alembic Global Holding SA.) ·
AG Research Private Limited, (Subsidiary of Alembic Pharmaceuticals
Limited.) U85120TG2014PTC093661 ·
Genius LLC, (Subsidiary of Alembic Global Holding SA.) · Aleor Dermaceuticals Limited (Subsidiary of Alembic Pharmaceuticals Limited) U24302GJ2016PLC092131 |
|
|
|
|
Associate Companies: (As on 31.03.2017) |
·
Alembic Limited ·
Whitefield Chemtech Private Limited ·
Nirayu Private Limited ·
Quick Flight Limited ·
Shreno Limited ·
Paushak Limited ·
Sierra Investments Limited ·
Viramya Packlight Limited ·
Incozen Therapeutics Private Limited U24239TG2008PTC059967 ·
Rhizen Pharmaceuticals SA (Associate of Alembic Global Holding SA) ·
Dahlia Therapeutics (Subsidiary of Rhizen
Pharmaceuticals SA) ·
Rhizen Pharmaceuticals Inc (Subsidiary of Rhizen Pharmaceuticals SA.) |
|
|
|
|
Joint Venture.: (As on 31.03.2017) |
·
Alembic Mami SPA (Joint venture of Alembic Global
Holding SA) |
CAPITAL STRUCTURE
As on 31.03.2018
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : INR 377.000
Million
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
INR 2/- each |
INR 400.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
188515914 |
Equity Shares |
INR 2/- each |
INR 377.032 Million |
|
|
|
|
|
Reconciliation of the
number of shares outstanding at the beginning and at the end of the reporting
period
|
As at |
31st March, 2017 |
|
|
|
Numbers |
INR in Million |
|
At the beginning of the year |
188515914 |
377.032 |
|
Outstanding at the end of the year |
188515914 |
377.032 |
The rights, preferences and restrictions including restrictions on the distribution of dividends and the repayment of capital
The company is having only one class of shares i.e Equity carrying a nominal value of INR 2/- per share
Every holder of the equity share of the Company is entitled to one vote per share held.
In the event of liquidation of the Company, the equity shareholders will be entitled to receive remaining assets of the Company after the distribution / repayment of all creditors. The distribution to the equity shareholders will be in proportion of the number of shares held by each shareholder.
The Company declares and pays dividend on the equity shares in Indian Rupees. Dividend proposed by the Board of Directors is subject to approval of the shareholders at the ensuing Annual General Meeting.
Shares in the company
held by each shareholder holding more than 5 percent shares specifying the
number of shares held
|
As at |
31st March, 2017 |
|
|
|
Numbers |
% held |
|
Alembic Limited |
55000000 |
29.18 |
|
Shreno Limited |
20698780 |
10.98 |
|
Whitefield Chemtech Private Limited |
18285230 |
9.70 |
|
Sierra Investments Private Limited |
17337670 |
9.20 |
|
Nirayu Private Limited |
13713755 |
7.27 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES
OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
377.000 |
377.000 |
377.000 |
|
(b) Reserves & Surplus |
21569.300 |
18296.200 |
14930.300 |
|
(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) |
21946.300 |
18673.200 |
15307.300 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5000.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
446.400 |
437.800 |
426.300 |
|
(c) Other long term
liabilities |
0.000 |
125.700 |
130.500 |
|
(d) long-term provisions |
613.300 |
572.200 |
282.300 |
|
Total
Non-current Liabilities (3) |
6059.700 |
1135.700 |
839.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1215.300 |
0.000 |
0.000 |
|
(b) Trade payables |
6214.400 |
4658.200 |
4997.600 |
|
(c) Other current liabilities |
1208.100 |
487.700 |
605.800 |
|
(d) Short-term provisions |
135.100 |
122.900 |
67.400 |
|
Total
Current Liabilities (4) |
8772.900 |
5268.800 |
5670.800 |
|
|
|
|
|
|
TOTAL |
36778.900 |
25077.700 |
21817.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
9183.000 |
7990.100 |
6972.500 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
7406.300 |
3477.500 |
923.400 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2988.900 |
1030.400 |
374.600 |
|
(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 |
443.800 |
365.200 |
299.600 |
|
Total
Non-Current Assets |
20022.000 |
12863.200 |
8570.100 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
6699.300 |
5746.200 |
5337.200 |
|
(c) Trade receivables |
6216.600 |
4660.600 |
3715.000 |
|
(d) Cash and cash equivalents |
156.300 |
72.100 |
2848.100 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
3684.700 |
1735.600 |
1346.800 |
|
Total
Current Assets |
16756.900 |
12214.500 |
13247.100 |
|
|
|
|
|
|
TOTAL |
36778.900 |
25077.700 |
21817.200 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
29452.600 |
29859.000 |
30090.200 |
|
|
Other Income |
66.700 |
24.200 |
68.200 |
|
|
TOTAL
|
29519.300 |
29883.200 |
30158.400 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
7257.500 |
7038.700 |
6525.200 |
|
|
Purchases of Stock(in(Trade |
2031.700 |
2303.100 |
2551.300 |
|
|
Changes in inventories of
finished goods, work(in(progress and Stock(in(Trade |
(361.800) |
(479.000) |
-959.400 |
|
|
Employees benefits expense |
5827.200 |
5274.600 |
4533.200 |
|
|
Other expenses |
8372.700 |
9388.800 |
7612.500 |
|
|
TOTAL |
23127.300 |
23526.200 |
20262.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
6392.000 |
6357.000 |
9895.600 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
22.200 |
30.900 |
36.800 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
6369.800 |
6326.100 |
9858.800 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
1017.600 |
829.000 |
718.600 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
5352.200 |
5497.100 |
9140.200 |
|
|
|
|
|
|
|
Less |
TAX |
1132.300 |
1190.800 |
2152.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
4219.900 |
4306.300 |
6987.400 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
15625.800 |
17550.800 |
|
|
Royalty |
NA |
179.700 |
259.700 |
|
|
TOTAL
EARNINGS |
NA |
15805.500 |
17810.500 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
3178.400 |
3283.000 |
|
|
Packing Material, Components and Spare Parts |
NA |
28.200 |
48.100 |
|
|
Stores and Spare Parts |
NA |
34.300 |
23.500 |
|
|
Professional and Consultancy fees |
NA |
508.300 |
423.500 |
|
|
Interest |
NA |
7.500 |
10.900 |
|
|
Others |
NA |
1531.900 |
1529.100 |
|
|
TOTAL
IMPORTS |
NA |
5288.600 |
5318.100 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
22.38 |
22.84 |
37.07 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
4385.800 |
10436.000 |
|
Net cash flow from operating activity |
NA |
3206.100 |
8475.200 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
77.04 |
56.97 |
45.06 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.74 |
6.41 |
8.10 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
244.18 |
182.00 |
200.97 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.95 |
1.11 |
1.85 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.39 |
0.55 |
1.25 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.37 |
0.21 |
0.26 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /
Networth) |
0.28 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.40 |
0.28 |
0.37 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.76 |
0.61 |
0.52 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
287.93 |
205.73 |
268.90 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin [(PAT / Sales) * 100] |
% |
14.33 |
14.42 |
23.22 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
11.47 |
17.17 |
32.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
19.23 |
23.06 |
45.65 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.91 |
2.32 |
2.34 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.15 |
1.23 |
1.39 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.60 |
0.74 |
0.70 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
16.49 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.91 |
2.32 |
2.34 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 2.00/- each |
|
Market Value |
INR 425.05/- each |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
377.000 |
377.000 |
377.000 |
|
Reserves & Surplus |
14930.300 |
18296.200 |
21569.300 |
|
Net
worth |
15307.300 |
18673.200 |
21946.300 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
5000.000 |
|
Short Term borrowings |
0.000 |
0.000 |
1215.300 |
|
Total
borrowings |
0.000 |
0.000 |
6215.300 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.283 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
30090.200 |
29859.000 |
29452.600 |
|
|
|
(0.768) |
(1.361) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
30090.200 |
29859.000 |
29452.600 |
|
Profit |
6987.400 |
4306.300 |
4219.900 |
|
|
23.22% |
14.42% |
14.33% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2018 |
31.03.2017 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
377.000 |
377.000 |
|
(b) Reserves &
Surplus |
|
21824.400 |
18634.000 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
(3) Non-Controlling
Interest |
|
3.100 |
1.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
22204.500 |
19012.000 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
5000.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
354.400 |
369.300 |
|
(c) Other long term
liabilities |
|
0.000 |
125.700 |
|
(d) long-term provisions |
|
616.600 |
572.200 |
|
Total Non-current
Liabilities (3) |
|
5971.000 |
1067.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2077.800 |
802.400 |
|
(b) Trade payables |
|
7593.200 |
5232.200 |
|
(c) Other current
liabilities |
|
331.000 |
629.400 |
|
(d) Short-term provisions |
|
1232.900 |
123.600 |
|
Total Current Liabilities
(4) |
|
11234.900 |
6787.600 |
|
|
|
|
|
|
TOTAL |
|
39410.400 |
26866.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
9270.200 |
7994.000 |
|
(ii) Intangible Assets |
|
663.600 |
0.000 |
|
(iii) Capital
work-in-progress |
|
9107.500 |
3692.800 |
|
(iv) Intangible assets
under development |
|
993.900 |
270.000 |
|
(b) Non-current
Investments |
|
416.400 |
501.600 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current
assets |
|
711.400 |
1197.800 |
|
Total Non-Current Assets |
|
21163.000 |
13656.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
7339.300 |
6327.500 |
|
(c) Trade receivables |
|
5263.400 |
3374.700 |
|
(d) Cash and cash
equivalents |
|
899.200 |
1596.000 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
4745.500 |
1912.400 |
|
Total Current Assets |
|
18247.400 |
13210.600 |
|
|
|
|
|
|
TOTAL |
|
39410.400 |
26866.800 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
31308.100 |
31346.100 |
|
|
Other Income |
|
70.300 |
24.700 |
|
|
TOTAL |
|
31378.400 |
31370.800 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
7257.500 |
7038.700 |
|
|
Purchases of Stock-in-Trade |
|
2018.700 |
2021.300 |
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
(420.600) |
(479.000) |
|
|
Employees benefits expense |
|
6228.100 |
5588.300 |
|
|
Other expenses |
|
9793.500 |
11029.600 |
|
|
TOTAL |
|
24877.200 |
25198.900 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
6501.200 |
6171.900 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
34.000 |
51.200 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
6467.200 |
6120.700 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
|
1054.600 |
829.700 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
5412.600 |
5291.000 |
|
|
|
|
|
|
|
Less |
TAX |
|
1203.500 |
1221.9 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
4209.100 |
4069.100 |
|
|
|
|
|
|
|
|
Share of profit/(loss) of an associate and a joint venture |
|
(80.900) |
38.300 |
|
|
|
|
|
|
|
|
Share of Non-controlling Interest |
|
(1.900) |
0.900 |
|
|
|
|
|
|
|
|
Net Profit after taxes, non-controlling interest to profit / (loss) of
associates and joint ventures |
|
4126.300 |
4031.700 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (INR) |
|
21.89 |
21.39 |
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 |
Yes |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter involved
in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
DESCRIPTION OF
BUSINESS (As on 31.03.2017)
Subject is principally engaged in the manufacturing and selling of Pharmaceuticals products i.e. Active Pharmaceutical Ingredients and Formulations. The Company is the public limited Company domiciled in India and is incorporated under the provision of the Companies Act applicable in India. Its shares are listed on the two recognised Stock Exchanges in India. The registered office of the Company is located at Alembic Road, Vadodara – 390 003, India.
INDEX OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C35754985 |
10534523 |
Bank of Baroda |
08/05/2014 |
- |
- |
13630734.0 |
CFS Branch, Bank of Baroda BuildingOpp. Alkapuri Petrol Pump, R. C. Dutt RoadVadodaraGJ390007IN |
|
2 |
G34911255 |
10296745 |
Bank of Baroda and Others |
30/06/2011 |
27/01/2017 |
- |
3500000000.0 |
First Floor, Bank of Baroda BuildingR C Dutt Road,VadodaraGJ390007IN |
|
3 |
G00923813 |
10323112 |
DBS BANK LIMITED |
02/12/2011 |
- |
21/03/2016 |
780000000.0 |
UPPER GROUND FLOR, BIRLA TOWER,25 BARAKHAMBA ROADNEW DELHIDL110001IN |
|
4 |
B59521583 |
10291650 |
IDBI TRUSTEESHIP SERVICES LIMITED |
01/04/2011 |
- |
11/10/2012 |
250000000.0 |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,Ballard Estate,MUMBAIMH400001IN |
|
5 |
B56674856 |
10291649 |
IDBI TRUSTEESHIP SERVICES LIMITED |
01/04/2011 |
- |
29/08/2012 |
250000000.0 |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,Ballard Estate,MUMBAIMH400001IN |
|
6 |
B43132604 |
10291646 |
IDBI TRUSTEESHIP SERVICES LIMITED |
01/04/2011 |
- |
04/07/2012 |
750000000.0 |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,Ballard Estate,MUMBAIMH400001IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
|
Estimated amount of contracts net of advances remaining to be executed on capital accounts |
NA |
2271.800 |
|
Contingent
liabilities not provided for |
|
|
|
Letter of credit, Guarantees and counter guarantees |
NA |
1579.400 |
|
Liabilities Disputed
in appeals |
|
|
|
Excise duty |
NA |
59.900 |
|
Sales Tax |
NA |
29.100 |
|
Income Tax |
NA |
0.300 |
|
Claims against the company not acknowledged as debt |
NA |
3.700 |
|
Disputed liability in respect of Ministry of Industry, Department of Chemicals and Petrochemicals in respect of price of Rifampicin allowed in formulations and landed cost of import. |
NA |
3.500 |
|
Total |
NA |
96.500 |
FIXED ASSETS
- Building
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 68.09 |
|
|
1 |
INR 91.41 |
|
Euro |
1 |
INR 79.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KJL |
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 |
YES |
|
--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.