Attachment 1
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Report
Update On |
19th November, 1999 |
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Report on |
ARANDY LABORATORIES LIMITED |
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Registered Office |
21 Pancom Chambers, 6-3-1090/1/1A, Raj Bhavan Road, Hyderabad – 500
082, Andhra Pradesh, INDIA |
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Tel. No. |
91-40-331 1563 |
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Fax No. |
91-10-331 1517 |
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E-Mail |
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Telex |
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Attachment 2
S U M M A R Y
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Incorporated |
1983 |
Status |
Good |
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Registration No. |
4348 |
Chief Executive |
Dr. R. R. K. Raju |
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Capital (Rs.) |
3.506 millions |
Payments |
Reguar |
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Sales (Rs.) |
116.182 millions |
Litigation |
-- |
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Net Worth (Rs.) |
22.875 millions |
Banking Reputation |
Satisfactory |
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No. of Employees |
50 |
Auditors |
A. Madhusu-dana & Company |
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Credit Rating |
A (See attachment 3) |
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INDUSTRY
Compared with several core industries, the pharmaceutical industry had developed over the last three decades a robust growth face and also the lowest cost of medicines in the world. During the first half of 1998-99, the sales of pharmaceutical sector has increased by 18.8 percent. The profit after tax of major companies have increased by 57 percent.
Among the policy front, the Patents Bill 1998 was passed by the Rajya Sabha in the winter session, 1998. The Patents Bill 1998 has the provision to grant exclusive marketing tights to drug and agro-chemical products
The NPPA (National Pharmaceutical Pricing Authority), the body for drugs have revised the prices of 17 formulations, among the prices of 9 formulations have been increased.
The Indian pharmaceutical market worth Rs.100 billions, is growing at 14 percent.
Major share of Indian drug market is dominated by 260 companies, both domestic and multi nationals.
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FACTORY
Bollaram Village, Medak District, Andhra Pradesh, INDIA
BRANCH
Nil
HISTORY
The company was incorporated on 28th December, 1983 at Hyderabad in Andhra Pradesh having Company Registration Number 4348.
The company was originally incorporated as a Private Limited Company and was further converted into a Deemed Public Limited Company.
LEGAL FORM
It is a Closely Held Public Limited Liability company.
DIRECTORS
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Dr. R. R. K. Raju |
Managing Director |
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Mr. V. R. B. Raju |
Director – Production |
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Mr. P. Anjiah |
Director – Technical |
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Mr. P. N. Raju |
Director |
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Mr. N. V. V. S. Rama Raju |
Director |
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Mr. K. N. Murthy |
APIDC Nominee Director |
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Mr. V. R. Rao |
APSFC Nominee Director |
BUSINESS
The company is engaged in manufacturing of Pharmaceutical Drugs.
The company’s Actual Production during the year ended 31st March, 1998 was as under :
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Glibenclamide |
4,276 Kgs. |
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Frusemide |
55,306 Kgs. |
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Glibenclamide-Sulphonamide |
4,379 Kgs. |
The company is a Medium Sized Unit.
The company indirectly exports its products to France, Italy and other countries.
The company operates from a caption rented commercial office premises.
The company employs 10 persons in office and 40 persons in factory.
SISTER CONCERNS
Nil
MEMBERSHIPS
K Bulk Drugs Manufacturers Association
K CHEMEXIL
K The Federation of Andhra Pradesh Chamber of Commerce & Industry
BANKERS
K State Bank of India, Yellareddyguda Branch, Hyderabad – 500 873, Andhra Pradesh, INDIA
AUDITORS
K A. Madhusudana & Company, Chartered Accountants
FINANCIAL INFORMATION
The company's latest financial information for the period ended 31st March, 1998 is enclosed herewith.
CAPITAL STRUCTURE
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Authorised Capital : |
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5,000,000 |
Equity Shares of Rs.10/- each |
Rs.50.000 millions |
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Issued, Subscribed & Paid-up
Capital : |
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350,619 |
Equity Shares of Rs.10/- each |
Rs.3.506 millions |
COMMENTS
Subject is a well-established and reputed company in its’ field. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are reported as fair. Financial position of the company is satisfactory. Payments are usually corrects and as per commitments.
The company can be considered good for any normal business dealings at usual trade terms and conditions.
ABRIDGED BALANCE SHEET AS ON 31ST March, 1998
[figures are in Rupees Millions]
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SOURCES OF FUNDS |
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31.03.1998 |
31.03.1997 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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3.506 |
3.506 |
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2] Reserves & Surplus |
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19.369 |
11.051 |
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LOAN FUNDS |
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1] Secured Loans |
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22.271 |
25.094 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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GRAND TOTAL
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45.146 |
39.651 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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14.301 |
13.525 |
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INVESTMENTS |
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0.310 |
0.300 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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17.580 |
15.710 |
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Sundry Debtors |
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21.967 |
14.125 |
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Cash & Bank Balances |
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1.207 |
1.111 |
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Loans & Advances |
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2.460 |
5.120 |
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Total Current Assets |
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43.214 |
36.066 |
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Less : |
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Current Liabilities & Provisions |
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12.679 |
10.240 |
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Net Current Assets |
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30.535 |
25.826 |
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GRAND TOTAL
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45.146 |
39.651 |
IMPORTANT FINANCIAL INFORMATION FOR LAST TWO PERIODS
[figures are in Rupees Millions]
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PARTICULARS |
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31.03.1998 |
31.03.1997 |
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Sales Turnover |
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116.182 |
95.913 |
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[including other income] |
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Profit/(Loss) Before Tax |
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9.720 |
6.065 |
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Provision for Taxation |
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0.630 |
0.850 |
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Profit/(Loss) After Tax |
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9.090 |
5.215 |
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Dividend |
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NA |
NA |
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Earnings in Foreign Currency : |
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Export Earnings |
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111.348 |
82.976 |
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Other Earnings |
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0.000 |
0.000 |
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Total Earnings |
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111.349 |
82.976 |
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Imports |
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39.002 |
25.519 |
Attachment 3
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SCORE SHEET |
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SCORE |
CREDIT RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the
strongest capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed
for credit transaction. It has above average (strong) capability for payment
of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded
healthy. General unfavourable factors will not cause fatal effect. Satisfactory
capability for payment of interest and principal sums |
Fairly
Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to
meet normal commitments. Maybe drawn to slightly difficult position as unfavourable
conditions arise. Minimal assurance for timely payment on interest and
principal sums |
Moderate |
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26-40 |
B |
Unfavourable & favourable factors carry similar
weight in credit consideration. Capability to overcome financial difficulties
seems comparatively limited or considered not known. Capability to pay both
interest and principal sums is doubtful |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and
principal sums in default or expected to be in default upon maturity |
Limited
with full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be
exercised |
Credit
not recommended |
Attachment 4
INDIA
INDIA, a Union of States, is a Sovereign Socialist Secular Democratic Republic with a Parliamentary System of government. It covers an area of 32872631 sq. km. Population, as on 1st March, 1991 (last counted) stood at 846.30 millions.
The value of total foreign trade increased to Rs.2,778,392.8 millions in 1997-98. During 1997-98, it’s total exports amounted to Rs.1,262,857.6 millions and imports increased to Rs.1,515,535.2 millions.
As on 20th April, 1999, Standard and Poor’s affirmed its ratings for India and said the country’s outlook was stable despite weak coalition governments. S&P affirmed its BB foreign currency and the BBB local currency ratings for India. The B foreign currency and A3 local currency short-term issuer credit ratings were also affirmed. The outlook is stable. Official foreign exchange reserves cover about 165 percent of total government, public sector and private sector external principal-repayment obligations due within the next 12 months. At $32.6 billion as on April 7, 1999, they mitigate the risk of a sudden loss of external confidence even as exports decelerate and the trade gap widens, the agency said.
LEADING EONOMIC INDICATORS
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Outstanding As On |
% Variation Over |
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Banking, M3 & Forex (Rs. mlns.) |
Feb. 26, 1999 |
End-March 1998 |
Financial Year So Far |
Year Ago |
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1997-98 |
1998-99 |
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Aggregate Deposits |
6,983,380 |
6,054,100 |
15.3 |
15.3 |
19.8 |
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Demand Deposits |
1,029,500 |
1,025,130 |
0.2 |
0.4 |
13.4 |
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Time Deposits |
5,953,880 |
5,028,970 |
18.7 |
18.4 |
20.9 |
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Investments |
2,519,660 |
2,187,050 |
12.3 |
15.2 |
17.7 |
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Government Securities |
2,203,170 |
1,869,570 |
14.2 |
17.8 |
21.4 |
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Other Approved Securities |
316,490 |
317,480 |
2.7 |
-0.3 |
-2.3 |
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Bank Credit |
3,547,420 |
3,240,790 |
12.4 |
9.5 |
13.3 |
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Food Credit |
167,320 |
124,850 |
62.4 |
34.0 |
35.6 |
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Non-food Credit |
3,380,110 |
3,115,940 |
11.0 |
8.5 |
12.4 |
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Money Supply M3 (Feb. 26, 1999) |
9,455,060 |
8,253,890 |
13.4 |
14.6 |
18.8 |
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Net Bank Credit to Government |
3,868,200 |
3,306,190 |
11.4 |
17.0 |
20.3 |
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Reserve Bank Credit to
Government |
1,543,690 |
1,351,600 |
5.1 |
14.2 |
18.3 |
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Bank Credit to Commercial
Sector |
4,651,290 |
4,321,900 |
11.8 |
7.6 |
10.6 |
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FOREX (US$ mln.) March 19, 1999 |
312,350 |
293,670 |
7.0 |
6.4 |
10.5 |
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Foreign Currency Assets |
282,560 |
259,750 |
11.1 |
8.8 |
13.7 |
FOREIGN INSTITUTIONAL INVESTMENT IN INDIA
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Financial Year |
Gross Purchases (Rs. mlns.) |
Gross Sales (Rs. mlns.) |
Net Investment (Rs. mlns.) |
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1992-93 |
175 |
40 |
135 |
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1993-94 |
55,927 |
4,665 |
51,262 |
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1994-95 |
76,310 |
28,354 |
47,966 |
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1995-96 |
96,930 |
27,520 |
69,420 |
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1996-97 |
155,540 |
69,804 |
85,746 |
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1997-98 |
186,948 |
127,373 |
59,577 |
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1998-99 |
161,150 |
176,993 |
-15,844 |
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Total |
732,980 |
434,749 |
298,262 |
FOREIGN EXCHANGE RATES
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Currency |
Unit |
Indian
Rupees |
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US Dollar |
1 |
Rs.43.14 |
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UK Pound |
1 |
Rs.69.72 |
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Euro |
1 |
Rs.44.69 |
Attachment 5
ACKNOWLEDGEMENT
Dear Sir/Madam,
As part of our control
system, please fax/email us this note
upon receipt of this report. If we do not receive the acknowledgement within 24
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Thank you.
_____________________________________________________________________
To : MIRA INFORM PRIVATE
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Further Comments/Suggestion :
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Company’s Stamp &
Signature