MIRA
INFORM REPORT
|
Report Date : |
15.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
THE
HIMALAYA DRUG COMPANY |
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Registered Office : |
Tumkur Road, Makali, Bangalore-562123,
Karnataka, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1930 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRT00185D |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer,
Importer and Exporter of Herbal Health Care Products and Herbal Cosmetics in
the form of Tablets, Syrups/Liquids, Capsules, Creams, Gels, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD
400000 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
This
report was up – date by Mr. Ramu (Export Manger) of the concern. Subject
is an old established and reputed concern engaged in manufacture and exporte
of herbal formulations. It has large manufacturing facilities. It has office/
representatives in almost all the countries. The concern is doing well.
Partners are experienced, respectable and resourceful businessmen. It has
been proposed to change the partnership deed. The
concern can be considered good for any normal business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/Factory : |
Tumkur Road, Makali, Bangalore-562123,
Karnataka, India |
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Tel. No.: |
91-80-23714444 |
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Fax No.: |
91-80-23714468 |
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E-Mail : |
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Website : |
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Area : |
10
Acres |
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Location : |
Owned |
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Overseas
Offices |
Located
at v
Cayman
Islands v
Singapore
v
UAE v
U.S.A.
v
Bahrain
v
Belgium v
Syria v
Bulgaria v
Canada v
Costa
Rica v
Czech
Republic v
Ecuador v
Esstonia v
Fiji v
Ghana
v
Greece v
Guatemala v
Holland v
Italy v
Kenya
v
Kuwait v
Malaysia v
Mauritius v
Macedonia
v
Nigeria v
Polant v
Portugal v
Qatar
v
Romania v
Russia v
Serbia
and Montenegro v
Slovak
Republic v
Spain v
Sri
Lanka v
Sultanate
of Oman s v
Switzerland
v
Tanzania v
Uganda v
Ukraine
v
Venezuela
v
Zimbabwe |
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Factory
2 : |
Bidadi,
Mysore Road, Bangalore, Karnataka |
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Area : |
200
Acres |
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Location : |
Owned |
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Branches
: |
Located at Mumbai |
PARTNERS
|
Name : |
Mr.
Meral Manal |
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Designation : |
Partner
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Date of Birth/Age : |
62 years |
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Qualification : |
42 years |
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Name : |
Mr.
Ravi Prasad |
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Designation : |
President and Chief Executive Officer |
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Date of Birth/Age : |
47 years |
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Qualification : |
22 years |
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Name : |
Dr. S.
K. Mitra |
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Designation : |
Partner (subject to change, recently) |
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Date of Birth/Age : |
50 years |
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Name : |
Mr.
Shabir Sheriff |
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Designation : |
Chief Financial Officer |
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Date of Birth/Age : |
50 years |
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Qualification : |
15 years |
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Experience : |
15 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Importer and Exporter of Herbal Health Care Products and Herbal Cosmetics in
the form of Tablets, Syrups/Liquids, Capsules, Creams, Gels, etc. |
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Products : |
Medicinal
Range v
Bonnisan
(Tonic for babbies v
Koflet
(Cough reliever) v
Liv.
52 (tablets liver disorders) v
Confido v
Himocolin
Gel v
Himplasia
v
Abana
(Anti-hyperlipidemic) v
Clarina
(Anti acne cream) v
Cystone
(Effective against urinary calculi and UTI) v
Diabecon
(Oral anti-diabetic) v
Diak
of (Cough Syrup for diabetics) v
Diarex
(for diarrhea) v
Mentat
(Memory enhancer) v
Septillin
(Immunomodulator) v
Clarina
(Anti-acne cream) v
Evercare
(Uterine Tonic) v
Lukol
(Treats Leukorrhea) v
Menosan
(Menopausal Confort) v
Speman
(Increases Sperm Count) v
Tentex
Forte (Increases Libido) v
Tentex
Royal (Enhances desire and improves performance) v
Homcocid
(Relieves hyperacidity) v
Himcospaz
(Antispasmodic) v
Ophthacare
(For eye Care) v
Renalka
v
Reosto
v
Styplon v
V-Gel v
Geriforte v
Herbolax v
PureHands v
Purim
Body
Care v
Anti
Stress v
Cold
Relief v
Digestive
Health v
Pimple
Control v
Weight
Control v
Foot
Care v
Multi
Purpose Cream v
Pain
Relief v
Face
Packs v
Facial
Toner v
Facial
Cleansers v
Fairness
Cream v
Moisturisers
v
Skin
Nutrients v
Soap
Free Face Washes Hair
Care v
Conditioner v
Dandruff
Control v
Hair
Loss Control v
Protein
Shampoos |
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Exports to : |
Russia,
UAE, U.S.A., Europe and South East |
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Imports from : |
Europe
and U.S.A |
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Terms : |
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Selling : |
Advance
Payment and L/C at Sight terms |
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Purchasing : |
Advance
Payments and L/C at sight terms |
GENERAL
INFORMATION
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Suppliers : |
v
Farmers
Co-operative Societies in Karnataka v
Sai
Packaging, Bangalore v
National
Polymers, Mumbai |
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Customers : |
v
Transaltlawtic,
Moscow v
National
Medical Centre, Dubai v
Coffee
Day Outlets, India v
Shoppers
Stops, India v
Food
world, India v
Life
Style, India |
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No. of Employees : |
3000 |
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Bankers : |
v
Union
Bank of India, Commercial Street, Bangalore-560001, Karnataka v
Bank
of Nova Scotia, M. G. Road, Bangalore-560001, Karnataka |
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Facilities : |
The
concern enjoy substantial facilities from its bankers |
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Banking Relations : |
Good |
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Auditors : |
Vishnu
& Company Chartered
Accountant Bangalore,
Karnataka, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
100.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
100.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
4000.000 |
3900.000 |
3500.000 |
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Export Value |
1000.000 |
900.000 |
700.000 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
Subject
was established in the year 1930 at Dehradun in Uttar Pradesh as a partnership
concern.
The
office shifted to the present address during the year 1975.
Seventy-four years ago, on a visit to Burma, Himalaya’s founder,
Mr. M. Manal, saw restless elephants being fed with a root to pacify them. The
plant from which this was taken is Rauwolfia
serpentina. Fascinated by the plant's
effect on elephants, he had it scientifically evaluated. After extensive
research, Serpina, the world’s first anti-hypertensive drug, was launched in
1934
milestones
|
Year |
Achievement |
|
1930 |
Mr. M.
Mangal founds The Himalaya Drug Company. His Vision put Aurveda on par with
modern medicine |
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1934 |
Launch
of Serpina, the world’s first anti-hypertensive drug, derived from Rauwolfia
Serpentina |
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1950 |
Dr.
Roshan M. Captain, Ph. D. Joins the company and Spearheads research and
development. |
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1955 |
Liv.52,
a hepatoprotective, is launched and goes on to become one of the world’s
top-selling drugs. |
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1964 |
Mr.
Meraj A. Manal, the founder’s son, joins the company. |
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1965 |
Mr.
Karstein, a German pharmaceutical consultant, directs the company’s focus
towards allopathic medical practitioners. |
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1975 |
An
advanced manufacturing facility is set up in Bangalore. The facility grows to
become the corporate headquarters |
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1991 |
The
company’s R&D center moves to Bangalore. Research and development becomes
a very important aspect of the company’s focus. |
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1996 |
The
company opens its US office at Houston, Texas. |
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1998 |
The
Animal Health Product range for commercial livestock is launched. |
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1999 |
Himalaya
Herbals launches its personal healthcare products in India. |
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2000 |
The
company launches a special range for pets called the Companion Care range. |
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2001 |
The company adopts a new unified
brand identity |
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 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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.45.16 |
|
UK
Pound |
1 |
Rs.85.99 |
|
Euro |
1 |
Rs.57.92 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
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OPERATING SCALE |
1~10 |
8 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
8 |
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--LIQUIDITY |
1~10 |
8 |
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--LEVERAGE |
1~10 |
8 |
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--RESERVES |
1~10 |
8 |
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--CREDIT LINES |
1~10 |
8 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
72 |
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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