MIRA
INFORM REPORT
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Report Date : |
11.05.2007 |
IDENTIFICATION DETAILS
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Name : |
SAMI LABS LIMITED |
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Registered Office : |
19/1 and 19/2 II
Phase Peenya Industrial Estate, |
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Country : |
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Financials (as on) : |
31.03. 2005 |
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Date of Incorporation : |
19.04.1991 |
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Com. Reg. No.: |
08-11880 |
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CIN No.: [Company
Identification No.] |
U01520KA1991PLC011880 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRS02025C |
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PAN No.: [Permanent
Account No.] |
AADCS2549E |
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Legal Form : |
A closely held
Public Limited Liability Company |
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Line of Business : |
Manufacture and export
of herbal extracts, fine chemicals, spice oleoresins, etc. (Garcinea
Extracts, Gynema Extracts, Gugulipids, etc.) Subject is a
research based transnational health science company, manufacture and
marketing of high-tech standardized speciality phy to chemicals nutraceutic
cosmoceuticals and biotech products worldwide. |
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 2400000 |
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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 and reputed company having fine track. Available information
indicates high financial responsibility of the company. Trade relations are fair.
Financial position is good. Payments are correct and as per commitments. The company can
be considered good for normal business dealings. It can be
regarded as a promising business
partner in a medium to long term. |
LOCATIONS
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Registered
Office/ Head Office/R & D Centre/ Corporate
Office : |
19/1 and 19/2 II
Phase Peenya Industrial Estate, |
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Tel. No.: |
91-80-28397973/28397975/28397978 |
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Fax No.: |
91-80-28373035 |
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E-Mail : |
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Website : |
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Factory : |
Ø
Plot No.30-35,
KIADB Industrial Area, Kunigal Industrial Area, Kunigal, Tumkar District,
Karnataka (Export oriented unit manufacturing fine chemicals and harbal
extracts.) Tel No. : 91-958132220164/290482/292831/292834 Fax No.: 91-958132290724 Location : Owned Area: 5.20 Ø
No.3-E,
Yadavagiri Industrial Area, Yadavagiri, Tel No. : 91-958212415538/2535930 Fax No.: 91-958212515890 Location : Owned Area: 0.50
(Manufacturing Oleoresins and Herbal Extracts) Ø
104/1,
Unit No.3, 13th KM, Tel No. : 91-51100219 Location : Leased Area: 1.00 Ø
No.19/3,
20/1, 20/2, Tel No. : 91-80-7723446/7723431 Fax No.: 91-80-7725360 Location : Owned Area: 6.73 Ø
Plot
No. 12/A, Shapoorji Pallonji Biotech Park, Phase 1, Shamirpet Mandal,
Rangareddy District, Hyderabad Tel No. : 91-40-23480388/418 Fax No.: 91-958132290724 Location : Owned Area: 4.60 |
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Branches |
Ø
XL-216/B-2,
Ø
Mumbai C/o: Sabinsa Corporation, Ø
102, Arvind
Chambers, Telephone No. : 91-22 56981992 /
56981993 / 6981994 / 5601220 Telefax No. : 91-22 56981992 /
1993 / 1994 E-mail: mumbai@samilabs.com |
DIRECTORS
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Name : |
Dr. Muhammed
Majeed |
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Designation : |
Chairman and
Managing Director |
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Address : |
138,8th
Cross, 3rd |
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Age: |
57 Years |
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Qualification
: |
B.Pharma, MS
(Pharma) |
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Name : |
Mrs. Sami Faazal |
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Designation : |
Director |
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Address : |
No. 31, |
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Age: |
33 Years |
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Name : |
Dr. M D Nair |
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Designation : |
Director |
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Address : |
Sagarika, Flat
No.11, No. 14, 3rd |
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Age: |
77 Years |
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Qualification
: |
PH.D |
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Name : |
Mr. C A Anzar |
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Designation : |
Wholetime
Director |
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Address : |
No. 17, AECS Layout,
4th Cross, 2nd Main, 3rd stage, RMV
Extension, Nagashetty Halli, Sanjay Nagar, Bangalore- 560094 |
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Age: |
36 Years |
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Qualification
: |
M.Com |
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Name : |
Dr. R K Bammi |
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Designation : |
Wholetime
Director |
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Address : |
Ashirwad, 758, 100
ft. Road, Indiranagar, Bangalore-560038 |
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Age: |
69 years |
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Qualification
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BSC-HONS, MS.,
PHD |
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Name : |
Mr. Humayun
Dhanrajgir |
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Designation : |
Director |
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Address : |
F-41, Dhanraj
Mahal, C S M Road, Apollo Bunder, Mumbai-400039 |
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Age: |
70 years |
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Name : |
Mr. P N
Venugopalan |
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Designation : |
Director |
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Address : |
707, |
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Age: |
65 years |
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Name : |
Mr. Todd Norton |
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Designation : |
Director |
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Address : |
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Age: |
44 years |
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Name : |
Mr. Tapan Ray |
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Designation : |
Chief Executive/
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Dr. Muhammed
Majeed |
954851 |
95.49 % |
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Ms. Sami Majeed |
45000 |
4.50 % |
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Ms Abita Beevi |
144 |
0.01 % |
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Ms Anju Majeed |
1 |
0.00 % |
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Mr. C A Anzar |
1 |
0.00 % |
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Mr Shaheen Majeed
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1 |
0.00 % |
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Dr. R K Bammi |
1 |
0.00 % |
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Dr. S Natarajan |
1 |
0.00 % |
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TOTAL |
1000000 |
100.00 % |
BUSINESS DETAILS
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Line of Business : |
Manufacture and export
of herbal extracts, fine chemicals, spice oleoresins, etc. (Garcinea
Extracts, Gynema Extracts, Gugulipids, etc.) Subject is a
research based transnational health science company, manufacture and
marketing of high-tech standardized speciality phy to chemicals nutraceutic
cosmoceuticals and biotech products worldwide. |
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Products : |
Oils |
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Exports : |
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Countries : |
North America,
Middle East, Europe, |
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Imports : |
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Countries : |
China, USA, South
Africa, Pakistan, UK, Germany, Japan, Holland, Sri Lanka, Moroccom, Italy,
France, Singapore |
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Terms : |
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Selling : |
L/C (90 days) and
Credit (60 days) |
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Purchasing : |
L/C (30 days) and
CAD Basis |
PRODUCTION STATUS
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Herbal extracts
and fine chemicals |
Tons |
-- |
4000 |
3235 |
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GENERAL INFORMATION
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Suppliers : |
Ø
Ø
Al Kawathar
Import and Export, Moroco Ø
Lonza
Limited, Ø
J. K.
Helen Curtis Ø
Ishana
Spice Exports, Ø
Estee
Lauder Ø
Sinochem
Ø
Sabinsa
Corporation, Ø
Shimadzu
Asia Pacific PTE Limited, Ø
Amway Ø
Gordes,
HLL And L Oreal |
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Customers : |
Ø
Sami
Labs Inc., Ø
Sabinsa
Corporation, Ø
Gee Ø
Handbury
Free Zone Exports, Ø
Quest
Vitamins, |
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No. of Employees : |
Office/Others:150
and Production:600 (Total: 750) |
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Bankers : |
Ø
State
Bank of Ø
UTI
Bank Limited, Ø
Export
Import Bank of |
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Facilities : |
State Bank of India
Credit Limit : Rs. 462.000 millions UTI Bank Limited
Credit Limit : Rs. 78.000 millions |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
M/s Varma and
Varma, Chartered
Accountant |
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Address : |
# 565, 17th
Cross, Indiranagar II Stage, |
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Tel. No.: |
91-80-25202330 |
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Subsidiaries : |
In |
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Group
Companies: |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 100 Each |
Rs. 100.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 100 Each |
Rs. 100.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS
FUNDS |
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1] Share Capital |
100.000 |
100.000 |
100.000 |
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2] Share
Application Money |
0.000 |
0.000 |
15.000 |
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3] Reserves &
Surplus |
501.401 |
370.501 |
331.441 |
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4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH
|
601.401 |
470.501 |
446.441 |
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LOAN FUNDS |
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1] Secured Loans |
623.293 |
345.175 |
271.761 |
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2] Unsecured
Loans |
70.545 |
32.001 |
82.976 |
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TOTAL BORROWING
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693.838 |
377.176 |
354.737 |
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DEFERRED TAX
LIABILITIES |
33.091 |
27.095 |
24.424 |
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TOTAL
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1328.330 |
874.772 |
825.602 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
344.956 |
307.522 |
326.959 |
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Capital work-in-progress
|
13.804 |
0.085 |
0.000 |
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INVESTMENT
|
24.514 |
24.382 |
1.694 |
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DEFERREX TAX ASSETS
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
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301.398 |
201.903 |
188.575 |
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Sundry Debtors
|
472.017 |
385.437 |
397.043 |
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Cash & Bank Balances
|
193.354 |
11.814 |
10.000 |
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Other Current Assets
|
0.000 |
0.000 |
0.000 |
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Loans & Advances
|
155.238 |
61.564 |
36.886 |
Total Current Assets
|
1122.007 |
660.718 |
632.504 |
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Less : CURRENT LIABILITIES & PROVISIONS
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Current
Liabilities |
159.001 |
102.921 |
122.298 |
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Provision |
17.950 |
15.588 |
14.406 |
Total Current Liabilities
|
176.951 |
118.509 |
136.704 |
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Net Current Assets
|
945.056 |
542.209 |
495.800 |
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MISCELLANEOUS EXPENSES
|
0.000 |
0.574 |
1.149 |
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TOTAL
|
1328.330 |
874.772 |
825.602 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other
income]
|
1062.280 |
705.410 |
725.431 |
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Profit/(Loss) Before Tax
|
145.828 |
53.042 |
83.011 |
Provision for Taxation
|
6.376 |
2.701 |
2.039 |
Profit/(Loss) After Tax
|
139.452 |
50.341 |
80.972 |
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Export Value
|
569.158 |
595.745 |
685.123 |
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Import Value
|
245.945 |
132.898 |
251.969 |
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Total Expenditure
|
916.452 |
652.367 |
642.419 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
PAT / Total Income |
(%) |
13.12 |
0.071 |
0.112 |
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Net Profit Margin (PBT/Sales) |
(%) |
13.72 |
0.08 |
0.12 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.94 |
0.05 |
0.09 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.11 |
0.19 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.44 |
2.05 |
2.10 |
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Current Ratio (Current Asset/Current Liability) |
|
6.34 |
5.58 |
4.63 |
LOCAL AGENCY FURTHER INFORMATION
9th
July, 1991 under the name of “Samichemicals and Extracts Private Limited”
Name and form
changed to “Sami Chemicals And Extracts Limited” 01st July, 1997
Name
again changed to “Sami Labs Limited” from 27th May 2000
PREMISES
Ø
Peenya: Owned and shared by group, Land: 217244 Sq.ft, Buildup:
19695 Sq.ft
Ø
Kunigal : Owned, Land: 5 Acres, Builtup: 100000 Sq.ft
Ø
Ø
Singasandra: Owned, Land: 3 Acres. Builtup: 16000 Sq.ft
Ø
Nelamangala: Owned
TRADE
REFERENCES:
- Sabinsa Corporation,
- Anju Phytochemicals Private Limited,
- Organica Aromatics Private Limited,
- Sami Labs Inc,
- American Formulary,
- Sami Investments and Financials
Services Private Limited
- Hanbury FZE,
- Sabinsa Japan Corporation,
- Sabirsa Australia PTY
Limited
- Jiyangy’n Eastern
Medical Raw material Company Limited
- Zhejiang Medicines and
Health pro import and Export company.
WEBSITE
DETAILS ARE ATTACHED HEREWITH:
City-based Sami Labs (SL), an assertive
and role-defined new generation limited company with closely-held shares, is
gradually emerging as a giant in the Indian health sciences business landscape.
The company which reported Rs 3000.000 Millions business last year, expects to
clock a turnover as high as Rs 5000.000 Millions by the end of this calendar
year. Moreover, the company is scouting for acquiring two or three companies in
the herbal science segment, preferably in
A closer look at the company shows that
with its clearly focused research programmes, unique business model, and
unitary structure of organisation that the company is well-poised to equal or
even overtake the largest biotechnology company of
Dr Muhammad Majeed, Managing Director,
Sami Labs, was bullish on the strategy of the company to rely on nature’s boon
in the form of a wild plant Coleus Forskohlii for its ambitious growth. The
company has already clinched partnership with a huge population of farmers in
order to contract-cultivate thousands of acres of land in states namely Andhra
Pradesh, Chattisgarh, Karnataka, Kerala and Tamil Nadu, fetching them Rs 6 a
kilo for the root of the plant.
‘‘Acquisition is the major thing they are
looking at; but mainly in
The medicinal compounds Forslean
(patented by Sami for diabetes) and Forskolin (in phase-III clinical trials for
glaucoma) along with Curcumin from which Sami has developed tetrahydrocurcumin,
a white powder in quite contrast to its natural yellow colour which the US
market abhors, will be the drivers of the company’s profit, from as varied a
market from the US of America to Japan in the world map.
Sami patented the science behind
Forslean’s action in reducing obesity without affecting the bio mass index (BMI)
of human body. This characteristic made the chemical a big hit in the west,
mainly in the
‘‘A study has been completed in
Elaborating on the study, Dr Majeed
added: ‘‘All studies show a co-relation between the administration of this
medicine and the loss in body weight and body fat. Fat reduction is about three
to four per cent and weight reduction to two to three. However, sensible diet
and exercise are essential for the effectiveness of reducing obesity even with
the use of Forslean.’’
This paper earlier reported on the phase
III clinical trials of forskolin in curing Glaucoma, which would open up a
marketshare of Rs 200.000 Millionsfor the company in two years, domestically.
Having developed tetrahydro curcumin,
which adds ten times value to the base product, the company is in a formidable
position in the western market, according to Dr Majeed. ‘‘It is the most
effective skin lightening agent, without any side effect, and hence widely
used,’’ he informs. When hinted at the finding of Dr Padmanabhan and his team
in the Indian Institute of Science on curcumin’s effectiveness as a combination
drug with existing first line drugs to fight malaria, Dr Majeed offered, ‘‘They
are passionate about curcumin; I am very keen on working with Dr Padmanabhan on
curcumin. In case IISc is OK, clinical trials on curcumin can be done in the
Clinworld facility.’’ He further added: ‘‘Public knew curcumin as a cheese
coloured substance exported from
Sami is aiming big bucks. When value
added, (ie, yellow curcumin converted into white powder), the additional cost
will become US $50 to $120 per kilo. Sami sells it at US $300 dollars a kilo in
the overseas market. The remarkable job done by Sami’s research establishment
is enabling the body to get rid of its burden of converting turmeric into
curcumin; instead, now it needs to just absorb the tetrahydro curcumin.
The company has set up a new plant in
SLL is arguably the first pharmaceutical
company in
Sami has at least 70-72 products
comprising nutraceuticals, specialty fine chemicals and cosmoceuticals in its
kitty. From garlic, the company has isolated selenium and developed selenium di
peptides, which are faster absorbed, faster acting and more pharmacologically
effective. The company has got American patent for the product. It markets the
product as ’garlic select.’
HIGHLIGHTS
- Initial allocation of Rs 1000.000 Millions for acquisition in
- Presence in all the three segments of
health science business—fermentation-based biotechnology, synthetic
chemistry and herbal extractions
- To be a Rs 5000.000-Millions company by year-end and a Rs 20000.000-Millions company in
few years.
- Well established research facility, two
new plants in Andhra, one in
- Attain status of a true MNC with
presence in Asia, North America and
- Unique scheme of contract cultivation
with farmers across the country for bulk production of forslean and forskolin
from Coleus Forskohlii
Bangalore-based Sami Labs Limited is
honoring its farming community engaged in the cultivation of Coleus, a
medicinal plant, on June 18 at Aattur near
As part of this programme, Sami Labs will
compliment the farmers with 25 motorbikes and 300 sovereigns. More than 5,000
farmers are currently cultivating Coleus in
The company has invested close to Rs
100.000 Millions in
Sami has also evolved a special model of
cultivation for the farmers in and around
Coleus forskohlii has been known to be
useful for lowering blood pressure as well as ocular pressure in glaucoma. In
the 90s, Sami Labs and its associate company in the US, Sabinsa Corporation
discovered another property of this plant. It was found that taken internally
forkolin, the main ingredient of the plant, broke down fat in the body without
affecting other tissues.
Coleus forskohlii, is a six month crop,
which is grown only in the rainy season and contains forskolin only in roots.
It is multiplied by stem cuttings and hence the expenses on replanting are
high. Sami Labs scientists are now trying to develop a variety, which will
contain forskolin in its stems in addition to roots so that the plant becomes a
perennial crop where only stems will be harvested, and leftover roots will
sprout again to give a new crop of stems for next season.
Dr Muhammed Majeed is a native of Kollam
in Kerala, who made it big in the
After taking B Pharm from
It was Dr Muhammed Majeed, who introduced
to the Americans the curative effects of the time tested Ayurvedic treatment
popular in
Sabinsa Corporation based out of US, yet
another company incorporated by Dr Muhammed Majeed is the international
marketing arm of Sami Labs Limited.
Sami Labs Limited is a research based
transnational organization which has successfully integrated cutting edge
technology with deep-rooted traditional Indian knowledge. In an economy driven
by knowledge and innovation, Sami Labs has to its credit 19
Sami was established by a scientist-cum-
entrepreneur, Dr. Muhammed Majeed in 1991 as a small scale unit in Singasandra,
RESEARCH AND DEVELOPMENT ARM
The Research and Development unit of Sami
Labs Limited is located at Peenya in
STANDARDIZED
HERBAL EXTRACTS
This division is involved in the
isolation and development of active ingredients from herbs for various
therapeutic applications. They are also into providing custom requirements for
the clients with regard to purity of herbal extracts and development of new
products.
PLANT BIOTECHNOLOGY
The focus here is mainly on rare
medicinal plants, which will require large-scale cultivation. The scientists
over here isolate the high-yielding varieties and multiply them through tissue
culture techniques in the laboratory.
AGRICULTURAL
PRIORITIES
More than 14,000 acres of medicinal plant
cultivation is undertaken by Sami Labs in different parts of
NUTRACEUTICALS
Some of the herbal extracts that are
manufactured at Sami Labs have nutraceutical properties also. A nutraceutical
product is any food or a food supplement that has medicinal or health benefits.
SYNTHETIC CHEMISTRY
The thrust at Sami Labs is mainly on
Nutraceuticals. A Nutraceutical product can be developed either through a
natural source or it can be derived synthetically. Sami Labs has set up a
strong synthetic chemistry division to manufacture some of these synthetically
derived nutraceuticals and drugs.
Sami Labs' expertise in synthetic
chemistry extends from simple Friedel Crafts reaction to complex Asymmetric
Synthesis. Sami has an excellent analytical testing facility, which is the core
strength for Synthetic Chemistry.
This division currently works on:
Development of drug and drug
intermediates
- Development of seleno amino acids and
other nutraceuticals
- Development of steroidal molecules
- Development of peptides for
cosmeceuticals
FERMENTATION TECHNOLOGY
Sami
Labs entered the biotechnological age with the commissioning of a new
production facility at Nelamangala, near
CARBON
DIOXIDE SCFE
With the strict regulations on VOC and
ODC emissions and the rigid examination of the solvent residues that goes into
any pharmaceutical, medical or nutraceutical products, the need for a Super
Critical Fluid Extraction becomes essential. Sami set up this facility in 2002.
It is the first commercial unit to be established with indigenous technology
developed by the Indian Institute of Technology (IIT) Mumbai. It uses carbon
dioxide in its critical phase as extraction medium. The unit is fully
computerised and it avoids industrial pollution and ensures safety of its
products when compared to traditional extraction methods.
INTELLECTUAL
PROPERTY DEVELOPMENT
Innovation had been the key driving force
behind Sami's success. The scientist of Sami and Sabinsa are credited with 19
US and International Patents and another 24 are on their way. Sabinsa is also
the winner of Thomas Alva Edison Patent Award in the state of New Jersey (USA)
in 2004.
"They require around 100 people for
the phytochemical extraction unit in
Tumkur) in Karnataka," averred
Muhammed Majeed, founder and MD. Sami Labs Limited The company is looking out
for chemical and mechanical engineers, chemists, scientists and B.Sc graduates
at various levels-entry level, with 3-5 years of experience and above 15 years
of experience. Of the total staff requirement of 300, around 45 support staff
will be hired.
Sami has two biotechnology units, one is
a plant biotechnology unit and the other is a fermentation biotechnology
unit. "They in
The company acknowledges its social
obligations and has assisted Indian farmers in the adoption and cultivation of
useful herbs, from around the world and processing and extracting these for
export to developed countries. "They have empowered 2,500 farmers from 18
districts of Tamilnadu who are now able to support themselves. They provide
them with training and expertise in growing these herbs," said Majeed.
The company has started empowering
farmers in Kolehalli in Karnataka and plans to expand this base to cover many
more districts. "Soon they will have a network of farmers in Maharastra
and
Sami Labs, the Bangalore-based
nutraceuticals company (group turnover Rs 2500.000 Millions), is expanding
its global footprint.
The company, after focusing on US and
Europe, is now eyeing South America with a manufacturing base in British Guyana
and a marketing presence in
Currently, Sami Labs has four
manufacturing facilities in
“They plan to set up subsidiaries in both countries with
investments totalling $20.000-30.000 million,”said Sami Labs MD Muhammed
Majeed.
The company will adopt a ‘hub and spoke’
model for market penetration . British Guyana provides easy access to Latin
American countries while
For the domestic market, the company will
upgrade its manufacturing facilities in Karnataka and set up two phyto-chemical
extraction units in Andhra Pradesh, each at a cost of Rs 100.000-120.000 crore. With 17
patents to its credit, the company’s R&D spend is around 8-10 per cent of
its revenue.
Ernst & Young, a consultancy, will raise private equity and
negotiate with institutional investors.
NEWS AWARDS
Sabinsa opens office in
7 January, 2006
Sabinsa Corporation has opened a
new office at Frankfurt in
The
MESSAGE
FROM CHAIRMAN
“It is my firm belief that
integration of modern scientific techniques into Ayurvedic herbal armamentarium
can produce new drug molecules for
AWARDS
Thomas Alva Edison
Patent Award for Tetrahydropiperine - 2005
Received Thomas Alva
Edison Patent Award for the year 2004
ACQUISITION
Sami Labs is on a drive to grow as a global conglomerate in health
science. As part of this expansion program, they are looking for acquisition,
joint venture, strategic alliance, licensing and marketing opportunities in
Europe, South East Asia, UAE and
- Nutraceuticals
and Cosmeceuticals
- Phytonutrients
- Biotechnology
- Pharmaceutical
Generics
- Fine
Chemicals and Specialty Chemicals
- Custom
Synthesis
- Contract
Research
- Clinical
Research
ABOUT
Sami Labs Limited, is a research oriented transnational
health science company, which is a leading producer of nutraceuticals,
cosmeceuticals, standardised herbal extracts, fine chemicals, specialty
chemicals and probiotics.The Government of India, honored us with the National
Award for Quality Products (Basic Drugs) in the year 1994. Today they have 17
HISTORY
"The vision of a research scientist takes
on social and commercial expressions." This in short explains the genesis
and growth of Sami Labs Limited
Dr. Muhammed Majeed
Founder, Chairman and Managing Director
of Sami Labs Limited,
was born and brought up in Kerala (
In 1988, Dr Majeed established Sabinsa
Corporation in the state of
Very soon he introduced into the
To facilitate the increased demand for
innovative application-based products, Sami Labs Limited (formerly known as
Sami Chemicals & Extracts Limited) was set up in 1991 at Singasandra in
To cater to the expanding global market, Sami
Labs has presence and strategic alliances in
The global revenue of the
company stood at USD 110 million (for 2005), with an employee strength of 50
people in
PRODUCTS
Sami Labs Limited is into the manufacturing of
Standardised Herbal Extracts, Cosmeceuticals, Probiotics, Spice Extracts,
Minerals, Fine Chemicals, Phytochemicals and Oils used in the nutritional, pharmaceutical
and the food industry.
Some of the flagship products
are:
ForsLean ®
ForsLean is manufactured by a proprietary
process and is a standardized extract from the roots of the Coleus Forskohlii
plant, the only known plant source of Forskolin. Forskolin can be used to
promote treat lean body mass and in the treatment of mood disorders.
ForsLean is a registered trademark of Sabinsa
Corporation and is the only Coleus Forskohlii preparation supported by US
Patent # 5,804,596.
Sabinsa Corporation, the international marketing
arm of Sami Labs Limited received the Thomas Alva Edison Patent Award for the
year 2004 for ForsLean. This annual award instituted by the Research &
Development Council of New Jersey, honors the most important scientific breakthroughs
and revolutionary product innovations originating in
This is the second award for
ForsLean in the innovation arena. The product had earlier won the Best New
Product award in 2001 at Nutracon. For more details Visit www.forslean.com
Gugulipid
®
Gugulipid is a registered trademark
(Registration date: 21 July, 1992) of Sabinsa Corporation. Sabinsa introduced
Gugulipid to the
Gugulipid is a standardized
extract prepared from the oleogum resin (gum resin) of Commiphora mukul, an
Indian medicinal tree that has been clinically proven to reduce the levels of harmful
serum lipids in the bloodstream. The active ingredients responsible for the
maintenance of healthy cholesterol levels are the guggulsterons, specifically
guggulsterone E and guggulsteron Z. For more details Visit www.gugulipid.com
Bacopin ®
Bacopin, a registered trademark
of Sabinsa Corporation, is a standardized extract prepared from the leaves of
the Bacopa Monnjera plant. It is standardized for a minimum of 20 percent
bacosides A & B, the active ingredients beneficial in the support of
cognitive functions. For more details Visit www.bacopin.com
Bioperine
®
Bioperine is a standardized
extract from the fruit of Piper Nigrum L (black pepper) or Piper Longum L (long
pepper). It contains a minimum piperine content of 95 percent compared to the
3-9 percent and 3-5 percent found in raw forms of Piper Nigrum and Piper
Longum, respectively. Bioperin may be co-administered with various nutrients for
both human and animal health. For more details Visit www.bioperine.com
This agreement allows
Sabinsa to get its innovative and efficacious active ingredients into the hands
of cosmetic and personal care companies by tapping into Goldschmidt's extensive
customer base.
Sabinsa Group, a
wholly-owned subsidiary of Sami Labs Limited,
In today's
cosmetics arena, a critical step to success is the ability to apply technology
to build a concept where products are efficient, safe and properly formulated.
The goal of this partnership is to develop and deliver even more unique
products to meet the needs of customers and consumers by leveraging the key
strengths of each company.
Willy Klipp,
senior vice president and general manager of Degussa's business line
Goldschmidt Personal Care states, "this agreement essentially allows us to
offer novel nature-derived active ingredients to our broad customer base and
reinforce our position as a preferred partner for the development of innovative
products and new applications."
Sami Labs Limited,
at its national award winning research centre in Bangalore, India, developed
these cosmeceutical products which have been tested for safety and efficacy in
their biological research laboratory by advanced in vitro systems like cell
lines and bioassays.
"Working with
Degussa Goldschmidt Personal Care not only allows for deeper and more broad
market penetration for our line of cosmeceuticals, but permits us to focus on
our core competency of developing safe and effective ingredients for the global
market," stated Madhu Subramanian, executive vice president of global
operations, Sabinsa. "This partnership is seen as the initial and first
step of a closer collaborative venture between Goldschmidt and Sabinsa."
"It is a
perfect fit as Sabinsa's strength lies in the identification of bio-active
compounds from Indian habitats, whereas we bring additional competence in the
field of modern cosmetic claim substantiation and extensive formulation
know-how to the table," comments Dr. Peter Lersch, head of R&D Care
Ingredients/Biotechnology, Goldschmidt Personal Care.
Initial products
developed through the partnership are expected to be launched in the second
half of 2007. They will complete Degussa's well-known product portfolio, which
consists of a unique range of organic and silicone-based specialties and active
ingredients specifically designed as raw materials for personal care products.
Degussa's business line Goldschmidt Personal Care is a leading global
manufacturer and supplier of raw materials, additives and active ingredients
for the cosmetics industry. All business activities are strongly supported by
application technology, as well as by in-house research and development. A
dedicated team of highly skilled professionals is committed to excellence and
customer satisfaction. Among other products, Degussa is specialized in
manufacturing human skin identical sphingolipids including Ceramides by biotech
means. Screening, identification and confirmation of biological activities for
novel ingredients is carried with state-of-the-art cell and molecular biology
including the use of DNA-Chip technology, cell cultures, artificial skin models
and the validation of results in in-vivo studies.
Sabinsa has proven
itself as the quality supplier of claim substantiated nutraceutical actives and
brings the same commitment to the development of new cosmeceuticals. "At
Sabinsa, we strongly believe in creating the future from the past, and
continually look at botanicals with a long history of use to determine if there
are bio-active compounds that can be successfully isolated and manufactured for
today's marketplace," noted Dr. Muhammed Majeed, founder and CEO, Sabinsa.
"By leveraging the key strengths of both companies, we are confident we
can develop and deliver even more innovative and efficacious products that meet
the needs of consumers."
Founded on the
modern application of standardized Phytonutrients, Sabinsa/Sami Labs has
established itself as a manufacturer and supplier of high-quality fine
chemicals, organic intermediates and standardized botanical extracts.
Sabinsa/Sami Labs also provides custom synthesis from lab scale to pilot to
commercial scale. Sabinsa/Sami Labs has over 40 new cosmeceutical blends in its
pipeline which are new innovative products based on its own original research.
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.41.34 |
|
|
1 |
Rs.81.81 |
|
Euro |
1 |
Rs.55.74 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
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 |
|