MIRA
INFORM REPORT
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Report Date : |
26.06.2007 |
IDENTIFICATION DETAILS
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Name : |
CADILA PHARMACEUTICALS LIMITED |
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Formerly Known As : |
NOVA BIOTECH PRIVATE LIMITED |
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Registered Office : |
Cadila Corporate Campus, Sarkhej - |
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Country: |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
28.02.1991 |
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Com. Reg. No.: |
04-15132 |
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CIN No.: [Company
Identification No.] |
U24231GJ1991PTC015132 |
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TAN No.: [Tax Deduction
& Collection Account No.] |
AHMC0038ID |
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PAN No.: [Permanent
Account No.] |
AAACC6251E |
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Legal Form : |
Closely held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Pharmaceutical products – Basic Chemicals and Bulk Drug Intermediates, Pharmaceutical Formulations and diagnostic Test Kits. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED
CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable
to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 4832900 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are fair. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Cadila Corporate Campus, Sarkhej - |
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Tel. No.: |
91-79-23825001(15 Lines) |
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Fax No.: |
91-79-23825039 |
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E-Mail : |
purchase@cadilapharma.com (For Material Details) branded @cadilapharma.com (For
Product Information) international@cadilapharma.com
(For International Business) |
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Website: |
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Area : |
44 acres |
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Location : |
Owned |
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Head Office : |
Cadila Corporate Campus, Sarkhej - |
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Tel. No.: |
91-79-23825001(15 Lines) |
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Fax No.: |
91-79-23825039 |
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E-Mail : |
purchase@cadilapharma.com (For Material Details) branded @cadilapharma.com (For
Product Information) international@cadilapharma.com
(For International Business) website@cadilapharma.com |
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Corporate Office : |
IRMA House, Off |
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Tel. No.: |
91-79-26562615 (5 lines) |
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Fax No.: |
91-79-26425741 |
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E-Mail : |
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Website : |
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Area : |
5000 sq. ft. |
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Location : |
Owned |
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Factory 1 : |
Dholka – Manufacturing Plant Survey No. 1389, Tel. No. 91-79-23421841/83/84/3422006/7/8/9/10 Fax No. 91-79-23420315/3421220 Area : 50000 sq. ft. Location : Owned Chemicals SBU – Factory Plot No. 274, GIDC Industrial Estate, Ankleshwar, Tel. No. 91-2646-223846 / 252626 / 251519 Fax No. 91-2646-250051 Area : 174557 sq. ft. Location : Owned CHPL – Factory (Associated Company) Survey No. 342, Nani Kadi, Taluka Kadi, District
Mehsana, Tel. No. 91-2764-262463 / 242037 / 242194 Fax No. 91-2764-242223 Location : Owned Karnavati Engineering Limited (Associated Company) Survey No. 342, Nani Kadi, Taluka Kadi, District Mehsana, Tel. 91-2764-262463 / 242037 / 242194 Fax. 91-2764-242608 Location : Owned Tissu Culture Lab 756, Prakruti Farm, Hirapur Chowkdi, Hirapur, Ahmedabad, Tel. No. 91-79-3855260/3855495/496 Location : Owned IRMA House, Off Tel. No. 91-79-6562615 (5 lines) Fax. No. 91-79-6425741 Area : 5000 sq. ft. Location : Owned |
DIRECTORS
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Name : |
Mr. Indravadan Ambalal Modi |
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Designation : |
Chairman and Managing Director |
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Address : |
"KAKABA", 13, |
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Date of Birth/Age : |
18th February, 1926 |
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Qualification : |
B. Sc. (Technical), Ph.D. (Biology), Chemical Engineer
from |
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Experience : |
50 years |
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Date of Joining : |
28.02.1991 |
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Other Directorships:- |
1. Casil Health Products Limited - Chairman 2. Karnavati Engineering Limited – Chairman 3. Indian Research Manifestation Laboratories (Private) Limited (IRM Lab) – Chairman 4. Green Challel Travel Services – Director 5. IRM Investment Private Limited – Trustee 6. IRM Trust |
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Profile
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He is a Founder Director of the erstwhile Indian Pharmaceutical major company, now restructured as company. He obtained his Bachelor’s degree in Science from the He is revered as th champion of Indian Pharmaceutical Industry attaining its’ present global status. He has been effectively representing the cause of National Pharmaceutical Industry at various for a. As President of Indian Drug Manufacturer’s Association (IDMA) and Chairman of Basic Chemical, Pharmaceuticals and Cosmetics Export Promotion Council (CHEMEXCIL), his contributions are widely acclaimed in the industry circle. He is presented the National Working Group on Patent Laws,
India (NWGP) and Indian Drug Manufacturers’ Association (IDMA) on the subject
‘Patent Regime’ proposed in the Uruguay Round at |
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Name : |
Dr. Rajiv I. Modi |
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Designation : |
Managing Director |
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Address : |
"KAKABA", 13, |
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Date of Birth/Age : |
09th May, 1960 |
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Qualification : |
Ph.
D. in Biological Science
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Other Directorships:- |
·
Casil Health Products Limited, Ahmedabad, ·
Karnavati Engineering Limited, Ahmedabad, ·
Tissue Culture Laboratories, Ahmedabad, · Green Channel Travel Services Private Limited |
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Profile
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He has awarded Genetics Society of America’s Best Scientific Poster at the International Genetics Congress held in August 1988 by the Genetics Society of America. Invited participant and speaker at the Gordan Research Microbial Evolution and Population Biology in July 1989 at Plymouth State of College, New Hampshire, USA Presented papers on various aspects of Chemical
Engineering, Biochemical Engineering and Biotechnology at Different
Institutes in He is being a qualified Biotechnologist has charted out a visionary patha nd company is one of the leading companies making significant investments in the area of Biotechnology. Broadly the areas are Vaccines (Typhoid, Hepatitis ‘B’ Streptokinase etc). Biotherauptics (Hyaluronic Acid), Diagnostics (HIV Kits, Hepatitis ‘C’ diagnostics Kits), PlantTissue Culture (transgenic plants – tomato), Tissure Culture – potato). |
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Name : |
Mr. Atul Tandon |
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Designation : |
Director (w.e.f. 04.07.2003) |
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Name : |
Mr. D. N. Khurana |
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Designation : |
Director (w.e.f. 04.07.2003) |
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Name : |
Mr. D Vipul Bheda |
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Designation : |
Company Secretary (ACS) |
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Name : |
Mrs. Shilaben I Modi |
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Designation : |
Director |
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Name : |
Mrs. Monika Garware Modi |
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Designation : |
Director |
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Name : |
Mr. Chinubhai R Shah |
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Designation : |
Director |
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Name : |
Mr. Pradip Khandwal |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Michael W. Eggleston |
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Designation : |
Chief Financial Officer / Treasurer of the company |
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Name : |
Mr. Andrej Gasperlin |
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Designation : |
Vice President (Pharmaceuticals) |
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Name : |
Mr. Sherry Newton |
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Designation : |
Logistics Manager |
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Name : |
Mr. Juan C. Gonzalez |
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Designation : |
Vice President ( |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Mr. Indravadan A. Modi |
848600 |
5.66 |
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Mr. Rajiv I. Modi |
848600 |
5.66 |
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Mrs. Shilaben I. Modi |
848600 |
5.66 |
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I. A. Modi Trust |
5940000 |
39.60 |
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I. A. Modi – as Partner |
6514200 |
43.42 |
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Total |
15000000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Pharmaceutical products – Basic Chemicals and Bulk Drug Intermediates, Pharmaceutical Formulations and diagnostic Test Kits. |
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Products : |
Its’ products range includes :- v Cardiovascular Drugs v Gastrointestinal Drugs v Anti Inflammatory/Analgesic Drugs v Antibiotics/Anti Infectives v Vaccines/Immunomodulators v Anti-Diabetic Drugs v Vitamins / Haemantinics v Psychiatric Agents/CNS Drugs v Haemostatics v Antihistamines/Anti Allergic Drugs v Anti-Aids (Anti Retroviral) Therapy v Anti-Cancer (Cytotoxic) Drugs v Ophthalmic Drugs v Veterinary Products v Expectorants/Bronchodilators v Anti-Asthmatic Drugs v Herabal Products |
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Brand Names : |
‘ ACILOC’, ‘ENVAS MICOBUTAL’, ‘ CLAX’, ‘ ZASO’, ‘ NODON’, ‘HAEMUP’, ‘LMX’, ‘SYMBIOTEK’, ‘LEPROSY’, ‘RABELOC’, ‘IMMUNO’, ‘MODALATOR’, ‘LEPROVAC’, ‘MONTELAST’. |
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Exports to : |
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Imports from : |
Europe, |
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Terms : |
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Selling terms : |
L/C, Local Cash and Credit basis |
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Purchasing : |
L/C, Local Cash and Credit (180 days) basis |
PRODUCTION STATUS
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Particulars |
Unit |
Actual Production |
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Tablets |
ML. Nos. |
3900 |
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Capsules |
ML. Nos. |
150 |
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Liquids |
K. litres |
6000 |
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Sterile Vials |
Millions |
84 |
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Ampoules |
Millions |
84 |
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Granules |
Tonnes |
15.06 |
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Dry Sterile Vials |
Millions |
48 |
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Dry Syrup Bottles |
Millions |
27 |
GENERAL INFORMATION
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Customers : |
§ Buying Agents § Distributors § Clinics § Hospitals § Manufacturers § Retailers § Wholesalers Some of major customer includes: §
§
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§ Government Hospitals |
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No. of Employees : |
Around 3800
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Bankers : |
Ř
Bank of Ashram Road Branch, Ahmedabad-380 009, Ř Corporation Bank Navrangpura Branch, Ahmedabad, Ř Oriental Bank of Commerce Ashram Road, Ahmedabad,
Ř Punjab National Bank Ashram Road Branch, Ahmedabad –
380 009, Ř
Union Bank of Ahmedabad, Ř UTI Bank Limited Ahmedabad, Ř Syndicate Bank Navrangpura, Ahmedabad,
Ř ICICI Bank Bandra, Mumbai, Maharashtr Ř Canara Bank Ř
Export Import Bank of Ř
State Bank of Ř Allahabad Bank Ř
State Bank of |
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Facilities : |
Oriental Bank of Commerce - The company enjoys hypothecation facility of Rs. 10.000 millions dated 06.04.2000 from its' bankers. UTI Bank Limited - The company enjoys hypothecation facility of Rs. 780.000 millions from its' bankers. Syndicate Bank - The company enjoys hypothecation facility of Rs. 1.400 millions dated 06.04.2000 from its' bankers. ICICI Bank - The company enjoys hypothecation facility of Rs. 300.000 millions dated 06.04.2000 from its' bankers.) |
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Banking Relations
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Good |
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Auditors : |
Deloitte Haskins and Sells Chartered Accountants |
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Address: |
3rd Floor, ‘Heritage’, Near Gujarat Vidhyapith,
Off |
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Tel. No.: |
91-79-7582542/7582543 |
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Fax No.: |
91-79-7582551 |
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E-Mail : |
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Associates/Subsidiaries : |
Ř
Casil Health Products Limited, Ahmedabad, Website: http://www.casilhealth.com Ř
Tissue Culture Laboratories, Ahmedabad, Ř
Green Channel Travel Services Private Limited,
Ahmedabad, - The Local Agent for American Express Travel Related Services at Ahmedabad Ř
Karnavati Ř
CPL Inc., Ř Be-Tabs Pharmaceuticals (Pty) Limited Ř
CPL – Ř
Cadila ( Ř Cadila Pharmaceuticals (E.A.) Limited Ř IRM Investment Private Limited Ř Indian Research Manifestation Laboratories (Private) Limited Ř IRM Trust Ř IRM Labs Limited Ř
Karnavati Engineering Limited, Ahmedabad, Website: http://www.karnavatiengineering.com Ř Wilnet Communication Private Limited Website: http://www.wilnetonline.net / www.willcall.wilnetonline.net Ř Cadila Overseas Holding Ř Medtek Asia Private Limited Ř Rajshil Investments Private Limited Ř
Nova Bio-Tech ( SUBSIDIARIES
In which subject holds 1,33,000 Ordinary shares of GBP.1 Each
In which subject holds 3,39,587 Ordinary shares of Sri Lankan Rs. 10/- each fully paid up.
16020, Tel. (636) 728-1980 Fax. (636) 728-1984 E-mail. contactcpl@cplinc.net Website. http://www.cplinc.net This is wholly owned subsidiary of company located in Ahmedabad, is to provide the North and South American markets with high quality, high value Pharmaceutical products and services. Subject operates through large sized premises for Manufacturing facilities at various locations.
318 Indian Trace, PMB 506, Tel. (954) 217-4914 Fax. (954) 217-4915 E-mail. igonzalez@cplinc.net
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Parent Company |
Ř Cadila Laboratories Limited Promoted by Mr. Indravadan A. Modi and Mr. Ramanbhai B. Patel – Parted in 1996 and formed their group. Viz. Zydus Group – by the Patels and Cadila Pharmaceuticals Group by the Modis. (Subject enjoys approximately Rs. 1 Billion, Term Loan from various Banks and Fis and Cash Credit Limits / Working Capital Loans from Banks Rs. 671.330 millions.) |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000
millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES
OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS
FUNDS |
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1] Share Capital |
300.000 |
200.000 |
200.000 |
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2] Share
Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves &
Surplus |
908.225 |
918.440 |
785.500 |
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4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH
|
1208.225 |
1118.440 |
985.500 |
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LOAN FUNDS |
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1] Secured Loans |
1865.751 |
1787.169 |
1919.300 |
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2] Unsecured
Loans |
253.242 |
39.210 |
142.800 |
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TOTAL BORROWING
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2.118 |
1826.379 |
2062.100 |
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DEFERRED TAX
LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL
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3640.014 |
3461.690 |
3047.600 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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1781.768 |
2080.816 |
1893.100 |
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Capital work-in-progress
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394.918 |
0.000 |
0.000 |
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INVESTMENT
|
227.425 |
116.968 |
115.800 |
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DEFERREX TAX ASSETS
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0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS &
ADVANCES
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Inventories
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956.189 |
798.240 |
748.300 |
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Sundry Debtors
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766.417 |
949.850 |
893.200 |
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Cash & Bank Balances
|
39.708 |
58.747 |
28.900 |
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Other Current Assets
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0.000
|
442.298
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0.000
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Loans & Advances
|
580.986 |
0.000 |
359.800 |
Total Current Assets
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2343.300
|
2249.135 |
2030.200
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Less :
CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
|
1057.809 |
379.587 |
1020.100 |
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Provisions
|
82.942 |
818.087 |
36.100 |
Total Current Liabilities
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1140.751
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1197.674 |
1056.200
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Net Current Assets
|
1202.550 |
1051.461 |
974.000 |
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MISCELLANEOUS EXPENSES
|
33.351 |
212.445 |
64.700 |
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TOTAL
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3640.014 |
3461.690 |
3047.600 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
Sales Turnover [including other
income]
|
4223.47 |
4213.032 |
4531.300 |
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Profit/(Loss) Before Tax
|
227.47 |
155.295 |
207.400 |
Provision for Taxation
|
36.600 |
0.000 |
43.200 |
Profit/(Loss) After Tax
|
190.870 |
155.295 |
164.200 |
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Export Value
|
1208.507 |
853.717 |
NA |
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Import Value
|
386.720 |
433.152 |
NA |
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Total Expenditure
|
3697.930 |
4057.737 |
4323.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
4.51 |
3.68
|
3.62 |
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Net Profit Margin
(PBT/Sales) |
(%) |
5.38 |
3.68
|
4.57 |
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
5.51 |
3.49
|
5.13 |
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Return on Investment (ROI)
(PBT/Networth) |
|
0.18 |
0.14
|
0.21 |
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Debt Equity Ratio
(Total
Liability/Networth) |
|
0.94 |
4.16
|
4.16 |
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Current Ratio
(Current
Asset/Current Liability) |
|
2.05 |
1.87
|
1.92 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
Subject was incorporated on 28.02.1991 at Ahmedabad in
Gujarat under the name and style of Nova Biostic (
The name was changed to the present style w.e.f.: 20.06. 1995
It became a deemed public liability company w.e.f. : 15.04.1996
Cadila Pharmaceuticals Limited is a multi product, multi
Location Company promoted by Dr. Indravadan A. Modi and his son Dr. Rajiv I.
Modi both doctorates in Biology and having long years of experience. The company
was promoted in the year 1991 and incorporated with Registrar of Companies,
Gujarat on 28.02.1991 in the name of Nova Biostic (
In the year 1995, the earstwhile Cadila Chemicals Limited was amalgamated with other Cadila group companies viz. Cadila Laboratories, Cadila Antibiotics, Cadila Exports, Cadila Veterinary etc. Cadila Group restructed and streamlined its Zydus (Patel Group) and Cadila Pharmaceuticals Limited (Modi Group). Cadila Pharmaceuticals Limited belings to Modi Group. It has become one of India’s most respected research based technical savvy Pharmaceutical Company focused on formulations (Human and Veterinary), New Drug Discovery, Active Pharmaceutical Ingredients, Analytical Research, Photochemistry, Biotechnology, Plant Tissue Culture, Bio-Synthetics, Genetic Engineering, Vaccines and entire gamut of True Life Science today.
The company has full fledged Research and Development Complex with most modern equipments at the cost of Rs. 200 millions having 45000 sq. ft. of area and it is recognized by Department of Science and Technology, Government of India, New Delhi having about 150 scientists working round the clock.
Milestones
§
State-of-the-art
formulations manufacturing facility, built to the exacting specifications of
USFDA, TGA, MCA & MCC.
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One of the best
R & D set-ups in the country, manned by a 150-strong scientists' pool.
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Strong
Formulations Development base.
§
A host of
'Biotech' products launched, including many 'Firsts in
§
World's First
manufacturer of Immuvac- a unique Immunomodulator.
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USFDA approvals
for Fluoxetine & Ethambutol manufacturing facilities.
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ISO 9002
approved Bulk Actives (APIs) manufacturing facility, offering facilities for
contract research.
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Significant global
presence.
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Leadership in
Domestic Marketing and Distribution Management.
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Leader in Indian
Generics Market.
Diversifications
§
Hospital
Disposables including Fiberglass Casting Tape for the first time in
§
Diagnostics
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Laboratory
Chemicals
§
Pharmaceutical
Machinery Manufacturing
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Animal Health
Formulations & Feed Supplements
§
Agro Business :
Plant Tissue Culture and Bio-fertilizers.
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Information
Technology
§
Travel Business
§
Strategic
Business Alliances with world-leaders
The company is all set to create
new records, scale greater heights. It has created new world-class production
and R&D facilities, focusing on research, new process innovations leading
to patents, and meeting global standards. The Company always places the common
man at its core – who should be able to access and afford medicines anywhere in
the world. For us at Cadila, this is the only true benchmark of excellence, and
the only thing that really matters.
The company market their vide range of products through 25 C and S Agents, 1900 Wholesalers, 237318 Pharmacies and 1300 field employees.
The company is in trade terms with :-
Ř Aditya Chemicals
Ř Gujarat Microwax Limited
Ř Gujarat Ampouls Limited
Ř Nima Packaging
Ř Vasu Containers
Ř Yagnesh Printing Press
Profile
Pursuant to its corporate
philosophy of striving for continuous improvement and betterment, the Company
has re-located its manufacturing operations at the state-of-the-art plant at
Dholka, located 50 km from Ahmedabad, the commercial capital of
Truly unique in every sense of the term, the Plant’s
standards and facilities can match any other, worldwide. Seven ‘zones of
cleanliness’ have been defined and adhered to, as per the 1997 GMP guidelines
of the European Union. Some of the salient features of the design concepts:
·
No wood or asbestos
component.
·
Each zone has separate
AHUs (Air Handling Units), dehumidification unit and dust extraction systems.
·
Segregation of every
critical processing activity in each zone, to avoid cross-contamination.
·
Adherence to stringent
specifications of USFDA, MCA(
·
Respective zones, areas
and even uniforms marked with specific colours of the rainbow (‘Indradhanush’
in the vernacular), to ensure total segregation.
·
Air environment
conditioned in each area with respect to temperature, humidity, filtration,
particle counts, etc.
·
Conformation of each
processing stage with US Federal Standard 209E class of cleanliness; viz. 100,
1,000, 10,000, 100,000 with respect to room air changes, pressure, particle
count, flow direction etc.
·
Duo Pass Reverse Osmosis
(RO) water system, multi-stage distillation plant, self-sanitizing, sanitary SS
31 6L loops water, water for injection with online monitoring of pH,
temperature, conductivity and TOC requirements as per USP XXIV.
·
Zero-discharge Effluent
Treatment Plant constructed using technology from Advent Integrated System,
·
Environment-friendly VAHP
chillers.
·
Rigvent heat extraction
devices and Natural Skylit system in raw material, packing material and
finished good stores.
·
Isolated and dedicated
production facilities for B-Lactum and Cephalosporin dosage forms.
Photochemistry
There has been a growing trend
towards natural medicines and the use of dietary supplements for modern
healthcare, as people throughout the world are becoming increasingly
dissatisfied with the possible side-effects, lack of noticeable long-term
results and high cost associated with allopathic drugs. Herbal products had
provided a more natural and often more effective alternative.
The company uses the ancient Indian medicinal
science of Ayurveda to make herbal formulations with clinically proven
efficacy. The Company has an experienced phytochemistry research team since
1983 and has developed 30 unique herbal products.
A thorough understanding of the
medicinal value of herbs is achieved in order to work on herbal drugs and to
initiate phytochemical research. Formulation is done through the exact process,
as per the ancient science of Ayurveda.
Phytochemistry Department
activities : -
§
Drug development from natural origin
§
Establishment of botanical identity of
herbs
§
Phytochemical isolation and identification
§
Screening of herbal formulations and
isolated compounds
§
Coordination of clinical pharmacology and
clinical trials
§
Development and manufacturing of herbal
dietary supplements
§
Analytical Research of & designation
of herbs
The complex also houses its own
full-fledged R&D center, set up at a cost of Rs. 200 millions.
The Plant is equipped with modern
high-speed machines and integrated packaging lines to be cost efficient.
Extensive use of non-fill devices, collators, Brevetti visual inspection
machines, multi-station tablet presses, FFS machines, high speed vial/ampoule
filler/sealers are some of the examples.
The plant—with high capacities and scope for future
expansion—is capable of manufacturing all dosage forms viz. Tablets, Capsules,
Liquid Orals, Dry Syrups, Aseptic Liquid and Solid preparations, Sachets etc.
The Group is engaged in many activities such as formulations, chemicals,
CHPL, engineering, agriculture and telecommunications.
Fixed assets
v Freehold land
v Leasehold land
v Buildings
v Plant & machinery
v Furniture & fixtures
v Office equipments
v Vehicles
Website Details :
CADILA PHARMA TO LAUNCH WORLD'S FIRST RABEPRAZOLE
INTRAVENOUS DOSAGE IN
The Ahmedabad-based Subject would be launching the first intravenous (IV) dosage form of the anti-ulcerant drug rabeprazole sodium in the world. The company, which introduced the solid dosage of the drug, Rabeloc, for the first time in the country in 2002, has received the DCGI approval to manufacture and market the IV formulation recently.
Rabeprazole sodium, currently the most advanced
anti-ulcerant for duodenal ulcers, gastro ulcers and heartburn
(gastroesophageal reflux disease -GERD), with the IV dosage form is advised for
severe and life threatening ulcer where patient is having upper
gastro-intestinal bleeding. The company will be launching the product under the
brand name Rabeloc IV shortly in
In the gastro segment, Cadila Pharma is currently a
leading player with brands such as Aciloc, Lancus, Domperon, Olit, Morsat and
others, which enjoy a significant share of the Rs 4450 millions anti-ulcerant
market. The company has conducted extensive multicentric clinical trials on
rabeprazole at prestigious institutions like AIIMS (All India Institute of
Medical Sciences,
Rabeprazole is an internationally acclaimed
molecule, approved by US FDA and WHO under Essential Drugs & Medicine
Policy. Currently the drug is available in 21 countries, including US,
According to company sources, rabeprazole is a blockbuster drug, as compared to the existing anti-ulcerant therapies, in many aspects. It suppresses acid very fast, thereby relieves pain and acidity quickly. Unlike some drugs, which are effective only at day or at night, Rabeloc works in both daytime and nighttime acidity.
As compared to pantaprazole and esomeprazole, which are only approved for heartburn (GERD), Rabeloc is also approved for other disorders including a rare disorder called "Zollinger Ellison Syndrome'. While pantaprazole is approved for short-term therapy (8 weeks therapy), rabeprazole is approved for long-term and short-term therapies and can be safely administered for 52 weeks or more.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.81 |
|
|
1 |
Rs.81.87 |
|
Euro |
1 |
Rs.54.91 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
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 |
|
TOTAL |
|
55 |
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 |
|