MIRA
INFORM REPORT
|
Report Date : |
05.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
DABUR PHARMA LIMITED |
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Registered Office : |
3, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
18.03.2003 |
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Com. Reg. No.: |
55-119441 |
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CIN No.: [Company
Identification No.] |
U24231DL2003PLC119441 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELD06090A |
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PAN No.: [Permanent
Account No.] |
AABCD7720L |
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Legal Form : |
Public limited liability company. The company’s
shares are listed on the Stock Exchange. |
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Line of Business : |
Manufacturers and traders of all kinds of medicines
and pharmaceuticals. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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 12000000 |
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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 of Dabur Limited, a well-known Pharmaceutical
company having satisfactory track. Trade relations are fair. General
financial position is good. Payments are usually correct and as per
commitment. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered
Office/ Corporate
Office : |
3, Factory Road, Near Safdarjung Hospital, Ring
Road, New Delhi – 110029, India |
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Tel. No.: |
91-11-30990792-95
/ 26101240 / 30611300 |
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Fax No.: |
91-11-26198436 |
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E-Mail : |
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Website : |
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Location : |
Owned (commercial area) |
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Factory 1 : |
Iryectable (formulations) Unit 19, HPSIDC Industrial Area, Baddi, District Solan, H.R-173 205 |
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Factory 2 : |
Bulk Drug Unit D—35, Industrial Area. Kalyani,
District Nadia, W.B. - 741 235 |
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Branches : |
Dabur Pharma Limited Level 2, Block B, No. 10, Jalan bersatu
13/4, 46200, Petaling Jaya Tel No. : 91-603-79555496 / 79555953 Fax No.: 91-603-79586017 U. K. Dabur Pharma Limited Tel No.: 91-44-1420477115 Fax No.: 91-44-1420-477047 Dabur Pharma Limited 115093, Tel No.: 91-95-2354971 Fax No.: 91-95-9597289/9597292 Dabur Pharma Limited 18th Floor, Tel No.: 91-66-25772199 Fax No.: 91-66-25111182 Dabur Pharma Limited 19th Floor, Philamlife
Tower8767, Paseo De Tel .: 91-632-8864824 / 8864827 Fax No.; 91-632-8137284 |
DIRECTORS
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Name : |
Dr. Anand Chand Burman |
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Designation : |
Director |
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Name : |
Mr. Amit Burman |
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Designation : |
Director |
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Name : |
Mr. P. D. Narang |
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Designation : |
Director |
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Name : |
Mr. Ajay Kumar Vij |
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Designation : |
Whole Time Director |
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Date of Birth/Age : |
45 Years |
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Qualification : |
B. Sc. , MBA |
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Experience : |
24 Years |
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Date of Appointment : |
01.04.2003 |
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Last Employment : |
Max India Limited |
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Name : |
Dr. Rama Mukherjee |
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Designation : |
Director |
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Name : |
Dr. Naresh Trehan
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Designation : |
Director |
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Name : |
Mr. C. K. Birla |
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Designation : |
Director |
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Name : |
Dr. Irving Kuczynski (IFC Nominee) |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Pankaj Kapdeo |
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Designation : |
Company Secretary
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Name : |
Mr. B M Sundaram |
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Designation : |
Regional Head – CIS and |
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Date of Birth/Age : |
39 Years |
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Qualification : |
M. Pharma, MBA |
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Experience : |
17 Years |
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Date of Appointment : |
01.07.2005 |
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Last Employment : |
Dr. Reddy’s Laboratories |
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Name : |
Mr. Carlos V. Menduza |
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Designation : |
Company Manager |
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Date of Birth/Age : |
45 Years |
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Qualification : |
B. Sc. In Commerce Management Economics |
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Experience : |
20 Years |
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Date of Appointment : |
01.12.2003 |
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Last Employment : |
Zuelling Pharma Corporation |
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Name : |
Mr. Arun Gupta |
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Designation : |
Chief Financial Officer |
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Date of Birth/Age : |
45 Years |
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Qualification : |
FCA, FICWA |
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Experience : |
21 Years |
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Date of Appointment : |
01.04.2003 |
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Last Employment : |
Dabur India Limited |
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Name : |
Mr. Deepak G. Haldankar |
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Designation : |
Global Head – Quality |
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Date of Birth/Age : |
51 Years |
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Qualification : |
B. Sc. |
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Experience : |
28 Years |
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Date of Appointment : |
18.12.2003 |
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Last Employment : |
Aurobindo Pharma Limited |
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Name : |
Mr. Glenn R Baria |
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Designation : |
Country Manager |
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Date of Birth/Age : |
47 Years |
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Qualification : |
B. Sc. MBA |
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Experience : |
20 Years |
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Date of Appointment : |
01.02.2006 |
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Last Employment : |
JLC Miller Company, INC. |
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Name : |
Mr. Kamal Jeet Gupta |
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Designation : |
Head Chemical Manufacturing |
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Date of Birth/Age : |
50 Years |
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Qualification : |
BA [Chem], PCDM |
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Experience : |
26 Years |
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Date of Appointment : |
09.03.2004 |
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Last Employment : |
RPC Life Science Limited |
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Name : |
Mr. L C Murali |
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Designation : |
Regional Head |
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Date of Birth/Age : |
53 Years |
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Qualification : |
BS Chemistry |
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Experience : |
30 Years |
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Date of Appointment : |
01.04.2003 |
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Last Employment : |
Dabur India Limited |
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|
Name : |
Mr. Phaisal Sirisinsuk |
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Designation : |
Country Manager |
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Date of Birth/Age : |
43 Years |
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Qualification : |
MBA, B Pharma |
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Experience : |
18 Years |
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Date of Appointment : |
01.12.2003 |
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Last Employment : |
Roche Thailand Limited |
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Name : |
Mr. Rakesh Sharma |
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Designation : |
Global Head – Human Resources |
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Date of Birth/Age : |
49 Years |
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Qualification : |
MBA, LLB |
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Experience : |
27 Years |
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Date of Appointment : |
01.01.2005 |
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Last Employment : |
Dabur Pharmaceuticals Limited |
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Name : |
Mr. Ranjive Alexander |
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Designation : |
Head of Sales |
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Date of Birth/Age : |
40 Years |
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Qualification : |
B. Sc. |
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Experience : |
17 Years |
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Date of Appointment : |
22.09.2003 |
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Last Employment : |
Dabur Pharmaceuticals Limited |
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Name : |
Mr. Rohibul Sabri Bin Abas |
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Designation : |
Country Manager |
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Date of Birth/Age : |
33 Years |
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Qualification : |
B. Pharma |
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Experience : |
12 Years |
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Date of Appointment : |
01.12.2003 |
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Last Employment : |
Zuelling Pharma Corporation |
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Name : |
Mr. Sameer Agarwal |
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Designation : |
Region Head – |
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Date of Birth/Age : |
43 Years |
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Qualification : |
M. Pharma, M Sc. Diploma in Marketing Management |
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Experience : |
19 Years |
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Date of Appointment : |
01.04.2003 |
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Last Employment : |
Dabur India Limited |
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Name : |
Mr. Shyam N. Kante |
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Designation : |
Global Head |
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Date of Birth/Age : |
54 Years |
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Qualification : |
M. Pharma, DBM DORM |
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Experience : |
30 Years |
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Date of Appointment : |
27.09.2004 |
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Last Employment : |
Lupin Laboratories Limited |
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Name : |
Mr. Sinon Daniel |
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Designation : |
VP – Sales and Marketing |
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Date of Birth/Age : |
50 Years |
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Qualification : |
BA, PCDBA |
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Experience : |
26 Years |
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Date of Appointment : |
01.01.2005 |
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Last Employment : |
Dabur Pharmaceuticals Limited |
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Name : |
Mr. Sushil Gulati |
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Designation : |
Head – Oncology |
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Date of Birth/Age : |
43 Years |
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Qualification : |
M Pharma, Diploma in Marketing and Sales |
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Experience : |
19 Years |
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Date of Appointment : |
01.01.2005 |
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Last Employment : |
Johnson and Johnson Limited |
SHAREHOLDING PATTERN
AS ON 31.03.2007
|
Names of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
Shareholding of Promoter and Promoter Group |
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Indian |
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Individuals/Hindu Undivided Family |
173600 |
0.111
% |
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Bodies Corporate |
107156546 |
68.524
% |
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Foreign |
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Individuals(Non-Residents Individuals) |
47000 |
0.030
% |
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Public Shareholding |
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Institutions |
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Mutual Funds/UTI |
295034 |
0.189
% |
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Financial Institutions/Banks |
1100 |
0.001
% |
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Insurance Companies |
5087868 |
3.254
% |
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Foreign Institutional Investors |
15336859 |
9.808
% |
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Non-Institutions |
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Bodies Corporate |
2406243 |
1.539
% |
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Individuals- |
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i. Individual shareholders holding nominal share capital
upto Rs.0.1 Millions |
12194878 |
7.798
% |
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ii. Individual shareholders holding nominal share capital
in excess of Rs.0.1 Millions |
367556 |
0.235
% |
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Any Other (specify) |
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Foreign Bodies Corporate |
12145000 |
7.766
% |
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NRI/OCBs |
1167030 |
0.746
% |
|
TOTAL |
156378714 |
100.00 % |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and traders of all kinds of
medicines and pharmaceuticals. |
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Products : |
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PRODUCTION STATUS
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Particulars |
Unit |
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Actual
Production |
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Injection |
Ltrs |
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|
24384 |
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Bulk Drugs |
Kgs |
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|
34502 |
GENERAL INFORMATION
|
Suppliers : |
Ø
Abhinav Printing & Packaging Ø
Ø
Alpha Packaging Ø
Ambika Parenterals Container Ø
Anupama Industries Ø
Avenir Enterprises Ø
Burman Laboratories Limited Ø
Dynamic Sticker Industries Ø
Heritage Paper Converters Ø
Kumar Industries Ø
Kush Prints Private Limited Ø
New Samudra Art Centres Ø
Niyogi Offset Private Limited Ø
Prem Industries Ø
RA Chem Enterprises Private Limited Ø
Span Packers Private Limited Ø
Taurus International |
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No. of Employees : |
Around 900 |
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Bankers : |
Ø
IDBI Bank Limited Ø
The Hongkong and Shanghai Banking Corporation
Limited Ø
ABN Amro bank Limited Ø
Punjab National Bank Ø
Standard Chartered Bank Ø
Citi Bank NA Ø
Union bank of Phil USD/Peso Ø
Bank of foreign trade, Ø
Barclays GBP Bank, Ø
Barclays USS A/C, Ø
HSBC GBP A/C, Ø
HSBC USS A/C, Ø
HSBC |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
G Basu And Company Chartered Accountants, Parliament Street, Internal Auditors Price Waterhouse Coopers Private Limited Chartered Accountants |
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Associates : |
Ø Dabon
International Private Limited Ø Luna
Trading Company Private Limited Ø Dabur
Ayurvet Limited Ø Dabur
Ayurvedic Specialities Limited Ø Dabur
Products Limited Ø Dabur
International Limited Ø
Excelcia Food Limited, Biscuits
(Joint Venture with Nestle Spa) |
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Subsidiaries : |
Ø Dabur
Finance Limited Ø Dabur
Research Foundation Ø Dabur
Pharmaceuticals Limited Ø Dabur
Nepal Private Limited Ø Dabur
Overseas Limited Ø Dabur
Egypt Limited Ø
Dabur Foods Limited Ø
Oafaur
Oncology Pic Hampshire, Gu35 Onf. |
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Parent company: |
Dabur India Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
180000000 |
Equity Shares |
Rs.1/-
each |
Rs.
180.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
156083563 |
Equity Shares |
Rs.1/-
each |
Rs.
156.084 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
165.084 |
143.645 |
143.625 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves &
Surplus |
2937.363 |
2097.995 |
1842.361 |
|
|
4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
3102.447 |
2241.640 |
1985.986 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
526.811 |
443.436 |
61.711 |
|
|
2] Unsecured
Loans |
0.000 |
36.073 |
72.327 |
|
TOTAL BORROWING
|
526.811 |
479.509 |
134.038 |
|
|
DEFERRED TAX
LIABILITIES |
72.674 |
66.545 |
25.922 |
|
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|
|
|
|
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TOTAL
|
3692.932 |
2787.694 |
2145.946 |
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APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
1025.309 |
719.859 |
596.606 |
|
Capital work-in-progress
|
|
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|
|
|
|
|
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|
INVESTMENT
|
1297.520 |
1262.520 |
846.852 |
|
DEFERREX TAX ASSETS
|
5.846 |
9.937 |
2.660 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS &
ADVANCES
|
|
|
|
|
|
|
Inventories
|
557.588
|
579.408 |
423.754 |
|
|
Sundry Debtors
|
410.707
|
335.300 |
314.784 |
|
|
Cash & Bank Balances
|
89.845
|
38.640 |
94.485 |
|
|
Other Current Assets
|
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances
|
631.804
|
129.729 |
109.553 |
Total Current Assets
|
1689.944
|
1083.077 |
942.576 |
|
Less :
CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
279.987
|
257.556 |
203.764 |
|
|
Provisions
|
111.147
|
70.479 |
38.984 |
Total Current Liabilities
|
391.134
|
328.035 |
242.748 |
|
Net Current Assets
|
1298.810
|
755.042 |
699.828 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
65.447 |
40.336 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
3692.932 |
2787.694 |
2145.946 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
2689.477 |
2348.039 |
2157.057 |
|
|
Other Income |
50.340 |
97.252 |
|
|
|
Total Income |
2739.817 |
2445.291 |
2157.057 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
223.248 |
280.926 |
180.871 |
|
|
Provision for Taxation |
37.754 |
55.373 |
40.984 |
|
|
Profit/(Loss) After Tax |
185.494 |
225.553 |
139.887 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
|
Export sales at
FOB |
1158.542 |
1043.910 |
NA |
|
|
Royalty |
8.458 |
0.000 |
NA |
|
|
Interest
received |
14.687 |
0.000 |
NA |
|
|
Commission/Other
income |
0.483 |
0.240 |
NA |
|
Total Earnings |
1182.170 |
1044.150 |
NA |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Materials |
96.830 |
81.866 |
NA |
|
|
Stores & Spares |
10.546 |
7.811 |
NA |
|
|
Capital Goods |
46.761 |
49.070 |
NA |
|
Total Imports |
154.137 |
138.747 |
NA |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of materials |
744.258 |
613.623 |
|
|
|
Manufacturing expenses |
325.769 |
296.936 |
|
|
|
Payments to and provisions
for employees |
335.019 |
200.282 |
|
|
|
Selling and administrative
expenses |
1004.856 |
996.901 |
1976.186 |
|
|
Financial expenses |
29.018 |
15.822 |
|
|
|
Misc Expenditure Written
Off |
35.730 |
5.987 |
|
|
|
Depreciation |
41.919 |
34.814 |
|
|
Total Expenditure |
2516.569 |
2164.365 |
1976.186 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2006 |
30.09.2006 |
31.12.2006 |
|
Type |
1st
Qtr |
2nd
Qtr |
3rd
Qtr |
|
Sales
Turnover |
783.700 |
932.300 |
790.900 |
|
Other
Income |
08.400 |
10.600 |
14.400 |
|
Total
Income |
792.100 |
942.900 |
805.300 |
|
Total
Expenditure |
691.200 |
832.000 |
665.300 |
|
Operating
Profit |
100.900 |
110.900 |
140.000 |
|
Interest |
11.200 |
17.100 |
21.500 |
|
Gross
Profit |
89.700 |
93.800 |
118.500 |
|
Depreciation |
11.500 |
11.800 |
14.600 |
|
Tax |
10.600 |
8.900 |
13.400 |
|
Reported
PAT |
66.300 |
69.600 |
89.300 |
200606
Quarter 1 –
Expenditure Includes (Increase)/Decrease in stock in Trade
Rs 34.175 million Consumption of Raw Material Rs 189.744 million Staff Cost Rs
97.476 million Other expenditure -Purchase of Finished Goods Rs 44.336 million -Contribution
to Scientific Research Rs 127.850 million -Sales Tax Rs 27.707 million -Others
Rs 169.936 million Tax Includes Provision for Fringe Benefit Tax Rs 1.809
million Current Tax Rs 8.778 million Deferred Tax Rs 1.347 million EPS is Basic
Status of Investor Complaints for the quarter ended June 30, 2006 Complaints
Pending at the beginning of the quarter Nil Complaints Received during the
quarter 17 Complaints disposed off during the quarter 17 Complaints unresolved
at the end of the quarter Nil 1. Sales have increased by 10.8% for the quarter
June 30, 2006 as compared to Quarter ended on June 30, 2005. 2. Profit before
Tax increased b 11.1 % for the quarter ended June 30, 2006 as compared to
quarter ended on June 30, 2005. 3. During the year, the Company has disposed of
long term investment of Rs 5.00 million. 4. The figures of the earlier periods
have been regrouped and reclassified in terms of current period grouping as and
when necessary. 5. The Statutory Auditors of the Company have completed the limited
review for the quarter ended June 30, 2006. 6. The above financial and
segmentwise results have been approved by the Board in its meeting held on July
26, 2006.
200609
Quarter 2 –
EPS is Basic Status of Investor Complaints for the quarter
ended September 30, 2006 Complaints Pending at the beginning of the quarter Nil
Complaints Received during the quarter 27 Complaints disposed off during the
quarter 27 Complaints unresolved at the end of the quarter Nil 1. Sales have
increased by 33.5% for the quarter ended September 30, 2006 as compared to
quarter ended September 30, 2005 and by 22.2% for the half year ended September
30, 2006 as compared to half year ended September 30, 2005. 2. Profit before
tax has increased by 43.6% for the quarter ended September 30, 2006 as compared
to the quarter ended September 30, 2005 and by 25.7% for the half year ended
September 30, 2006 as compared to half year ended September 30, 2005. 3. During
the quarter, the Company has distributed Rs 31.217 million being Rs 0.20 per
share, (excluding tax on dividend) as final dividend for the F.Y 2005-06 on
equity shares of nominal value of Re 1/- each. 4. The Company has allotted
168775 shares under Employees Stock Option Scheme (ESOP) on October 10, 2006 to
eligible employees at Re 1/- each. The paid up capital has increased to Rs
15,62,52,338. 5. Rs 15.00 million received during the quarter on account of
government grant from WBIDC under stat capital subsidy scheme against Company's
investment in bulk drug unit at Kalyani, has been credited to capital reserve.
6. Implementation of AS-15 as revised will be taken up at the close of the
year. 7. The Statutory Auditors of the company have completed the limited
review for the quarter ended September 30, 2006 and found no impact on the
above figures. 8. The above financial and segmentwise reults have been approved
by the Board in its meeting held on October 26, 2006. 9. The figures of earlier
periods have been regrouped and reclassified wherever necessary in line with
current quarter / period grouping.
200612
Quarter 3 –
EPS is Basic Status of Investor Complaints for the quarter
ended December 31, 2006 Complaints Pending at the beginning of the quarter Nil
Complaints Received during the quarter 27 Complaints disposed off during the quarter
27 Complaints unresolved at the end of the quarter Nil 1. Sales have increased
by 17.7% for the quarter ended 31st December 2006 as compared to quarter ended
31st December 2005 and by 20.7% for the period ended 31st December 2006 as
compared to period ended 31st December 2005. 2. Profit before tax has increased
by 17.1% for the quarter ended 31st December 2006 as compared to the quarter
ended 31st December 2005 and by 22.1% for the period ended 31st December 2006
as compared to period ended 31st December 2005. 3. Implementation of AS-15 as
revised will be taken up at the close of the year. 4. The above financial and
segment wise results have been approved by the Board in its meeting held on
January 23, 2007. 5. The Company has formed a wholly owned subsidiary in
Thailand and invested Rs 31.140 million therein on long term basis on account
of equity participation. 6. The Company has allotted 168775 shares under
Employees Stock Option Scheme (ESOP) on October 10, 2006 to eligible employees
at Re 1/- each. The paid up capital has increased to Rs 15,62,52,338. 7. The
Statutory Auditors of the company have completed the limited review for the
quarter ended 31st December 2006 and found no impact on the above figures. 8.
The figures of earlier periods have been regrouped and reclassified wherever
necessary in line with current quarter/period grouping.
KEY RATIOS
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Debt-Equity Ratio |
0.19 |
0.15 |
0.07 |
|
Long Term Debt-Equity Ratio |
0.19 |
0.15 |
0.07 |
|
Current Ratio |
3.28 |
2.53 |
2.30 |
|
TURNOVER RATIOS |
|
|
|
|
Fixed Assets |
3.09 |
3.12 |
3.13 |
|
Inventory |
4.73 |
4.68 |
5.04 |
|
Debtors |
7.21 |
7.22 |
6.78 |
|
Interest Cover Ratio |
8.70 |
16.56 |
12.44 |
|
Operating Profit Margin(%) |
10.94 |
12.62 |
10.66 |
|
Profit Before Interest And Tax Margin(%) |
9.38 |
11.14 |
9.21 |
|
Cash Profit Margin(%) |
8.46 |
9.89 |
8.00 |
|
Adjusted Net Profit Margin(%) |
6.90 |
8.40 |
6.55 |
|
Return On Capital Employed(%) |
8.08 |
11.23 |
9.94 |
|
Return On Net Worth(%) |
6.95 |
9.66 |
7.59 |
STOCK PRICES
|
Face Value |
Rs.10.00/- |
|
High |
Rs.64.90/- |
|
Low |
Rs.63.20/- |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS
Land, Building, Road and Culverts, Plant and Machinery, Vehicles,
Furniture and Fixture, Office Equipment, Computers
BUSINESS PERFORMANCE
The overall sales turnover of the Company for the period under review stood at
Rs.2689.477 Millions and recorded a satisfactory growth of 14.54% over the
previous year. The exports for the year at Rs.1174.440 Millions, recorded a
growth of 10.16% over the previous year. The Company's profit before tax for
the year grew to Rs.223.248 Millions as compared to Rs.199.354 Millions in the
previous year (after excluding non-recurring income of Rs.81.572 Millions in
the previous year 2004-05). Profit after tax stood at Rs.185.494 Millions for
the year under review as compared to Rs.2255.53 in the previous year.
The Company continues to focus on the Oncology business and enjoys a leadership
position in
The exports have accounted for around 43.67% of the Company's total sales. The
financial year 2006-07 has also begun on an impressive note with the domestic
sales and exports meeting their respective monthly targets. A detailed
discussion on segment-wise business performance is presented in the Management
Discussion and Analysis section of the report.
OPERATIONS
Production
During the year under review several initiatives were taken on the
manufacturing front focusing on consolidation of manufacturing bases, removal of
bottlenecks, reduction in wastage, improving productivity of manpower and
capital assets, and increasing the quality of the products.
Various initiatives were also aimed at enhancing the efficiencies in supply
chain management and sales and distribution. The manufacturing locations of the
Company at Baddi (Himachal Pradesh) for manufacture of formulations and at
Kalyani (
Sales and Marketing
During the year under review many new products were launched in both the
Oncology and Non-Oncology segments. The Non-Oncology segment also progressed
significantly in terms of competitive standing in a highly competitive
marketing environment. The Company has identified and focused on Gynecology,
Cardiology and Diabetology areas as growth areas.
On the export front the Company achieved rich returns in Asia Pacific region
with key markets presently being
In CIS region the Company has emerged as a key player with strong distribution
network, particularly in
In
In order to improve export turnover the Company shall focus on expanding its
network to Middle East like
New Project
Members are aware that the Company is putting up a state of the art
formulations manufacturing facility near Baddi in the state of Himachal Pradesh
at a cost of around Rs.100 Crores. The construction is in full swing and the
Company expects to start commercial production by March, 2007. The Company has
planned to target both domestic and overseas (regulated markets like
Contingent Liabilities:
In respect of
claims against the company lodged by an employee Rs. 19.307 Millions. No
reliable estimate of this in future cashout flow can be made as the matter is
sub-judice since 22nd Feb' 2002 pursuant to application of claimant
has been admitted by
In respect of Bank
Guarantees executed Rs. 21.038 Millions- There is hardly any possibility of any
cash out flow.
In respect of
excise duty dispute Rs. 1.044 Millions-possibility of outflow is remote as the
merit of the case suggests.
In respect of
Corporate Guarantee furnished Rs, 1380.595 Millions - Possibility of future
cash out flow is remote.
In respect of
Income tax demand for the Assessment year 2004-05 of Rs. 0.769 Millions
disputed by company. Possibility of outflow is remote as the merit of the case
suggests.
In respect of
Letter of credits issued by banks on behalf of the Company Rs.141.105 Millions
against which counter guarantees have been furnished by company.
Estimated Amount
of contract (net of advances of Rs. 181.713 Millions) remaining to be executed
on capital Account Rs. 481.735 Millions.
PRESS RELEASE
DABUR PHARMA TO DIVEST ITS DOMESTIC NON-ONCOLOGY FORMULATIONS BUSINESS
Dabur Pharma
Limited,
While the
non-oncology formulations has been a growing business for us, this divestiture
would allow us to increase our focus and investment in building a world class
global Oncology business which we believe offers greater long-term value for
Dabur Pharma’s shareholders”, said Dr. Anand Burman, Chairman, Dabur Pharma
Limited
He also indicated
that in the future the company would increasingly focus on its competencies in
oncology and on expanding the research & generics portfolio in this area.
“Leveraging our
core competencies and focusing our resources and energies in the oncology
business that we believe has the greatest growth potential has been the driving
force behind this move,” said Ajay Vij, COO, Dabur Pharma Limited He also said
“Oncology is the most valuable and strategically important business in Dabur
Pharma’s
business
portfolio. It is integral to our long-term strategy and we continue to align
the business so as to build on our leadership position in the global oncology
market.”
Sales of Dabur Pharma’s
non-oncology formulations business in the first 3 quarters of 2006 amounted to
Rs 62.1 Crores. The company is currently ranked amongst the top companies in
the Gynae segment in India and its key products include Cycloset® for the
treatment of menorrhagia, Revas® & Atecard® for the treatment of
Cardio-Vascular disorders, Glisen® for the treatment of Diabetes and Ulgel®
antacid.
“We are excited to
take up Dabur Pharma’s fast growing portfolio in the gynae, cardio &
diabetes product segments. Its existing product portfolio combined with the
future growth opportunities provide excellent synergistic value to us,” said
Mr. Chirayu R Amin of Alembic Limited He further added that Alembic was
committed to growing and strengthening the business while facilitating even
better support to the healthcare providers and the patient community.
About Dabur Pharma
Dabur Pharma
Limited,
For Further
Details, Please Contact:
Kapil Dhawan @
9810423882
KVS Prasad @
9810818475
Ankur Malhotra @
9811851116
Dabur Pharma:
Recent Highlights
Entered the
Paclitaxel
Injection
Introduction of
Nanoxel – Launched
drug delivery
system
Acquired the sales
and distribution business of its oncology products from
Sales and
distribution agreement with Hospira Inc. terminated with mutual consent
5th May’ 2007
The sales and
distribution agreement entered into between Dabur Oncology Plc, a Wholly Owned
Subsidiary Company of Dabur Pharma Limited and Hospira Inc. for exclusive
supply of oncology products for sales and distribution in the
Going forward the
Company will sell and distribute its entire range of oncology products in
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.40.78 |
|
|
1 |
Rs.81.34 |
|
Euro |
1 |
Rs.55.53 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|