MIRA
INFORM REPORT
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Report Date : |
12.05.2007 |
IDENTIFICATION DETAILS
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Name : |
NATCO PHATMA LIMITED |
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Registered Office : |
Natco House, Road No.2, Banjara Hills, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
19.09.1981 |
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Com. Reg. No.: |
01-3201 |
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CIN No.: [Company
Identification No.] |
U24230AP1981PLC003201 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDN00304D / HYDN00010D |
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Legal Form : |
A public limited liability company. The Company’s
shares are listed on the Stock Exchanges. |
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Line of Business : |
Manufacturing of bulk drugs, intermediates, formulations, etc. |
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 5750000 |
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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 satisfactory track. Trade relations are fair. Financial
position is satisfactory. 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 / Corporate Headquarters: |
Natco House, Road No.2, Banjara Hills, |
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Tel. No.: |
91-40-2354 7532 |
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Fax No.: |
91-40-2354 8243, 2354 5298 |
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E-Mail : |
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Website : |
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Factory 1 : |
Natco Pharma Limited – Pharma Division Kothur Post, Kothur Mandal, Mahaboobnagar District, Andhra Pradesh –
509 228, |
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Tel. No.: |
91-8548-257289 / 257173 |
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Fax No.: |
91-8548-257290 |
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Factory 2 : |
Natco Pharma Limited – Pharma Division- Parenterals Vijayapuri North, Nagarjuna Sagar, Nalgonda District, Andhra Pradesh –
508 202, |
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Tel. No.: |
91-8680-276661 |
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Fax No.: |
91-8680-276246 |
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Factory 3 : |
Natco Pharma Limited – Chemical Division MEKAGUDA, Kothur Mandal, Mahaboobnagar District, Andhra Pradesh – 509
228, |
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Tel. No.: |
91-8548-2492493 / 229496 |
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Fax No.: |
91-8548-249401 |
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Factory 4 : |
Natco Pharma Limited – Chemical R and D Division B – 11, Industrial Estate, Sanathnagar, |
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Tel. No.: |
91-40-23710575 |
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Fax No.: |
91-40-23710578 |
DIRECTORS
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Name : |
Mr. V. C. Nannapaneni |
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Designation : |
Chairman & Managing Director |
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Date of Birth/Age : |
59 years |
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Qualification : |
M. |
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Experience : |
28 years |
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Date of Appointment : |
3/10/1981 |
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Previous Employment : |
Incharge of Quality Assurance
and R & D TIME CAP INC, |
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Name : |
Mr. K. U. Mada |
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Designation : |
Director |
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Name : |
Mr. G. S. Murthy |
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Designation : |
Director |
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Name : |
Dr. B. S. Bajaj |
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Designation : |
Director |
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Name : |
Dr. M. Rami Reddy |
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Designation : |
Director |
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Name : |
Mrs. Durgadevi Nannapaneni |
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Designation : |
Whole time Director |
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Name : |
Dr. P. Khadgapathi |
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Designation : |
Director and Executive Vice
President |
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Name : |
Mr. Rajeev Nannapaneni |
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Designation : |
Director & Chief Operating Officer |
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Date of Appointment : |
31.12.2005 |
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Name : |
Mr. P. Bhaskara Narayana |
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Designation : |
Director & Chief Financial Officer |
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Date of Appointment : |
30.11.2005 |
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Name : |
Mr. Mukul Sarkar |
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Designation : |
Director - Export-Import Bank of |
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Date of Appointment : |
30.12.2005 |
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Name : |
Dr Jasti Samba Siva Rao |
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Designation : |
Director |
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Date of Appointment : |
20.04.2006 |
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KEY EXECUTIVES
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Name : |
Mr. M. Adinarayana |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Indian Promoters |
7528793 |
43.31 |
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Foreign Promoters |
903540 |
2.50 |
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NRI’s/OCBs |
240260 |
1.38 |
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Mutual Funds and UTI |
1860 |
0.01 |
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Bodies Corporate |
4308919 |
24.79 |
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Public |
4394348 |
25.28 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of bulk drugs, intermediates, formulations, etc. |
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Products : |
Ř Diltiazem Ř Omeprazole Ř Lansoprazole Ř Isosorbides Ř Sumartriptan
Succinate Ř Ondanssetron Ř Sertraline
Ř Granisetron
Ř Paroxetine Ř Newer
Quinolones and fourth generation Cephalosorins are expected to be launched soon |
GENERAL INFORMATION
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Customers : |
Ř
Procter & Gamble ( Ř Wyeth Lederle Limited Ř Ranbaxy Laboratories Limited Ř Sun Pharmaceutical Industries Limited Ř Dr. Reddy's Laboratories Limited |
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No. of Employees : |
1950 |
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Bankers : |
v
Allahabad Bank v
State Bank of v
Corporation Bank v
Oriental Bank of Commerce v
Export-Import Bank of |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Brahmayya & Company Chartered Accountants |
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Address : |
403 & 404, Golden Green Apartment, Irrum Manzil Colony, |
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Associates/Subsidiaries |
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CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000000 |
Equity shares |
Rs.
10/- each |
Rs.
300.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
27,174,414 |
Equity shares |
Rs.
10/- each |
Rs. 271.744 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
271.744 |
261.614 |
233.800 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1205.135 |
874.846 |
656.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1476.879 |
1136.460 |
889.800 |
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LOAN FUNDS |
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1] Secured Loans |
634.369 |
850.944 |
1038.700 |
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2] Unsecured Loans |
166.159 |
261.328 |
16.300 |
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TOTAL BORROWING |
800.528 |
1112.272 |
1055.000 |
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DEFERRED TAX LIABILITIES |
149.957 |
157.733 |
0.000 |
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TOTAL |
2427.364 |
2406.465 |
1944.800 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1189.818 |
961.768 |
968.600 |
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Capital work-in-progress |
106.781 |
88.992 |
51.600 |
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INVESTMENT |
166.242 |
147.043 |
21.400 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
423.248
|
380.010 |
375.900 |
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Sundry Debtors |
334.188
|
331.471 |
479.600 |
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Cash & Bank Balances |
272.776
|
463.270 |
32.500 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
438.790
|
439.989 |
443.800 |
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Total
Current Assets |
1469.002
|
1614.740 |
1331.800 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
529.875
|
467.560 |
526.200 |
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Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
529.875
|
467.560 |
526.200 |
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Net Current Assets |
939.127
|
1147.180 |
805.600 |
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MISCELLANEOUS EXPENSES |
25.396 |
61.482 |
97.600 |
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TOTAL |
2427.364 |
2406.465 |
1944.800 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover (Including Other Income) |
1858.045 |
1757.909 |
1530.200 |
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Total Income |
1858.045 |
1757.909 |
1530.200 |
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Profit/(Loss) Before Tax |
272.167 |
7.497 |
140.100 |
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Provision for Taxation |
34.233 |
[8.071] |
53.000 |
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Profit/(Loss) After Tax |
237.934 |
15.568 |
87.100 |
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Earnings in Foreign Currency : |
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Export Earnings |
805.837 |
918.526 |
0.000 |
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Commission Earnings |
0.000 |
0.000 |
0.000 |
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Other Earnings |
0.000 |
0.000 |
0.000 |
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Total Earnings |
805.837 |
918.526 |
0.000 |
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Imports : |
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Raw Materials |
0.000 |
0.000 |
0.000 |
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Stores & Spares |
0.000 |
0.000 |
0.000 |
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Capital Goods |
0.000 |
0.000 |
0.000 |
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Others |
0.000 |
0.000 |
0.000 |
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Total Imports |
124.752 |
111.295 |
0.000 |
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Expenditures : |
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Cost of Goods Sold |
0.000 |
0.000 |
0.000 |
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Manufacturing Expenses |
0.000 |
0.000 |
0.000 |
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Administrative Expenses |
0.000 |
0.000 |
0.000 |
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Raw Material Consumed |
0.000 |
0.000 |
0.000 |
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Purchases made for re-sale |
0.000 |
0.000 |
0.000 |
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Consumption of stores and spares parts |
0.000 |
0.000 |
0.000 |
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Increase/(Decrease) in Finished Goods |
0.000 |
0.000 |
0.000 |
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Salaries, Wages, Bonus, etc. |
0.000 |
0.000 |
0.000 |
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Managerial Remuneration |
0.000 |
0.000 |
0.000 |
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Payment to Auditors |
0.000 |
0.000 |
0.000 |
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Interest |
0.000 |
0.000 |
0.000 |
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Insurance Expenses |
0.000 |
0.000 |
0.000 |
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Power & Fuel |
0.000 |
0.000 |
0.000 |
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Depreciation & Amortization |
0.000 |
0.000 |
0.000 |
|
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Other Expenditure |
1560.878 |
1516.020 |
1207.500 |
|
Total Expenditure |
1560.878 |
1516.020 |
1207.500 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
30.06.2006 |
30.09.2006 |
31.12.2006 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Sales Turnover |
430.800 |
469.500 |
495.400 |
|
Other Income |
78.100 |
84.000 |
76.000 |
|
Total Income |
508.900 |
553.500 |
571.400 |
|
Total Expenditure |
373.300 |
407.000 |
427.400 |
|
Operating Profit |
135.600 |
146.500 |
144.000 |
|
Interest |
17.800 |
18.000 |
17.000 |
|
Gross Profit |
117.800 |
128.500 |
127.000 |
|
Depreciation |
18.400 |
19.800 |
20.200 |
|
Tax |
18.700 |
11.100 |
19.900 |
|
Reported PAT |
80.700 |
97.600 |
86.900 |
1st
Quarter:
Notes Expenditure Includes (Increase) / Decrease in Stock in Trade Rs.
(18.80) million Consumption of Raw materials Rs. 200.90millions Staff Cost Rs. 49.40
million Other Expenditure Rs. 141.80 million Tax indicates Taxation (including
Fringe Benefit Tax) EPS is Basic and Diluted Status of Investor Complaints for
the quarter ended 30.06.2006 Complaints Pending at the beginning of the quarter
Nil Complaints Received during the quarter 43Complaints disposed off during the
quarter 43 Complaints unresolved at the
end of the quarter nil 1. The above
unaudited financial results for the three months ended on 30.06.2006 were
considered and taken on record by the Board of Directors at a meeting held on
31.07.2006.
2nd
Quarter:
Notes Expenditure Includes (Increase) / Decrease in Stock in Trade Rs.
4.70 million Consumption of Raw materials Rs. 182.40 millions Staff Cost Rs. 59.10
million Other Expenditure Rs. 160.80 million Tax indicates Taxation (including
Fringe Benefit Tax) EPS is Basic and Diluted Status of Investor Complaints for
the quarter ended 30.09.2006 Complaints Pending at the beginning of the quarter
Nil Complaints Received during the quarter 58 Complaints disposed off during
the quarter 58 Complaints unresolved at
the end of the quarter Nil 1. The above
unaudited financial results for the three months ended on 30.09.2006 were
considered and taken on record by the Board of Directors at a meeting held on
26.10.2006. 2. The Board had recommended an interim dividend of Rs. 1.25 per
share.
3rd
Quarter:
Notes Expenditure Includes (Increase) / Decrease in Stock in Trade Rs.
(28.80) million Consumption of Raw materials Rs. 221.30 millions Staff Cost Rs.
66.60 million Other Expenditure Rs. 168.30 million Tax indicates Taxation
(including Fringe Benefit Tax) EPS is Basic and Diluted Status of Investor
Complaints for the quarter ended 30.12.2006 Complaints Pending at the beginning
of the quarter Nil Complaints Received during the quarter 80 Complaints
disposed off during the quarter 80
Complaints unresolved at the end of the quarter Nil. The above unaudited financial results for the
three months ended on 30.12.2006 were considered and taken on record by the
Board of Directors at a meeting held on 30.01.2007
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Debt-Equity Ratio |
|
0.73 |
1.13 |
1.55 |
|
Long Term Debt-Equity Ratio |
|
0.38 |
0.55 |
0.67 |
|
Current Ratio |
|
1.37 |
1.29 |
1.18 |
|
TURNOVER RATIOS |
|
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Fixed Assets |
|
1.13 |
1.33 |
1.31 |
|
Inventory |
|
4.21 |
4.50 |
4.07 |
|
Debtors |
|
5.08 |
4.19 |
3.16 |
|
Interest Cover Ratio |
|
4.39 |
1.39 |
2.04 |
|
Operating Profit Margin |
(%) |
24.75 |
14.38 |
22.37 |
|
Profit Before Interest And Tax Margin |
(%) |
20.83 |
10.94 |
19.07 |
|
Cash Profit Margin |
(%) |
17.99 |
6.93 |
9.34 |
|
Adjusted Net Profit Margin |
(%) |
14.06 |
3.49 |
6.04 |
|
Return On Capital Employed |
(%) |
15.87 |
9.49 |
16.50 |
|
Return On Net Worth |
(%) |
18.21 |
6.21 |
12.24 |
STOCK PRICES
|
Face Value |
Rs.10/- |
|
High |
Rs.116.80/- |
|
Low |
Rs.113.90/- |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
Incorporated in Sep.'81 as Natco Fine Pharmaceutical
Limited, it became a deemed public company with effect from July 1992
and in February 1993, it changed its name to Natco Pharma (NPL). The company
began to manufacture conventional and time-release dosage forms of life-saving
drugs. The company is a contract manufacturer for reputed companies like
Ranbaxy and Parke Davis. It has also obtained the coveted ISO 9002
certification, which will boost exports. It has initiated registration
proceedings (for its formulations) in over 20 countries.
To channelise its operations in the
During 1995-96, the company has implemented the project for formulations in the
Krishnapatnam Port Project has succeeded in signing up with the
Milestones :
|
Ř Incorporated
- 1981.for manufacture of pharmaceutical formulations. |
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Ř First
full year in Operations - 1984 - sales Rs. 0.5 million. |
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Ř Pioneered
Timed Release, a delayed acting sustained release technology. Achieved a rare feat of introducing the
largest array of timed release products based on zero order release concept
of Microdialysis Cell Technology. |
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Ř Started
Parenterals manufacturing facility at |
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Ř Acquired
Dr. Karanth Pharma Chemical Labs, a small bulk drug manufacturer, now known
as |
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Ř Established
bulk drug and Intermediate facility at |
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Ř State
of the art manufacturing facilities - cGMP, ISO 9002 certified dosage
facility. |
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Ř A
wide distribution network, Indian & International. |
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Ř Merged
three of the group companies with the parent, NATCO Pharma Limited - 1995. |
|
Ř Granted
US Patent for its manufacturing process of Omeprazole. |
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Ř Launched
anti-cancer drug-Imatinib Mesylate 100 mg capsules under the brand name - VEENAT. Process developed
in-house. |
The company's fixed assets of important value
include land, buildings, plant & machinery, electrical installation,
generator, air-conditioner, R & D equipment, factory equipment, lab
equipment, data processing equipment, office equipment, furniture &
fixture, vehicles and library.
Performance Review:
In spite of pressure on
realizations of certain key Active Pharmaceutical Ingredients (APIs), the
Company's performance was satisfactory.
After accounting
for all expenditure, the operational surplus for the fiscal 2006 was Rs. 297.2
millions (against Rs. 241.9 millions for the fiscal 2005).
Operational Review
& Future Outlook: API Division:
The year under
reference witnessed a reduction in the realizations for certain of the
specialty Active Pharmaceutical Ingredients that the company has been
manufacturing and marketing. Nevertheless, the division has been able to clock
a turnover of Rs. 864.7 millions during the year.
A new
multi utility production block, with a unique "flow-down" technique
(which ensures savings both on account of space, costs and resources) has been
commissioned. With the commissioning of this block, the division has been able
to substantially augment its capacities. The Company's API facility is now one
of the most modern plants, facilitating simultaneous production of ten APIs.
The facility continues to enjoy US FDA, Australian TGA and ISO: 14001
certification.
The
company strives to maintain the API division on par with world class standards
and the division continues to produce high value, low volume specialty drugs,
almost all of which are exported. In addition, the division also concentrates
on production of certain niche anti-cancer APIs, which are used for captive
consumptions. These capabilities would certainly go hand-in-hand with the
finished dosage pharmaceutical formulations division, where the objective is to
become a top league player in the domestic oncology market.
Broadly, the
sub-segments under the API segment include (a) supplies to regulatory markets,
consisting mainly of anti-depressants, anti-migraine, cyto-toxic and
non-cytotoxic APIs, (b) peptides and (c) steroids. The company is well
established in API supplies to regulated markets, while efforts are on to
establish the cyto-toxic facilities and facilities for peptides and steroids,
and are expected to be operational in the year 2007.
With the FDA
approval in place and with the skills that the division has developed over a
period of time - both in terms of understanding the production techniques, the
chemistry involved – this division aims to concentrate on a significant portion
of the world market. As a part of achieving this goal, the division has entered
into a definitive supply agreement with Akorn, Inc., a
Operational Review
& Future Outlook: Finished Dosage Formulation Division:
The performance of
the Finished Dosage Formulations division is a matter of great satisfaction for
the company.
The growth in the
division has been primarily driven by the domestic oncology market, where the
company has successfully made deep inroads. In terms of revenues, the company
is now ranked as # 2 from among the Indian companies operating in the
oncology segment, having crossed the Rs. 40 Millions per month revenues as on
the date of this report. With further launches slated in the fiscal 2006-2007,
the company expects to catapult itself into # 1 position. The launches
include products in the Oncology and non-oncology segment and are expected to
significantly contribute to the revenues of the Company while improving its
market share In the respective therapeutic segments.
Company Profile
Subject is an Indian enterprise
molded by global aspirations. This has always demanded a preparedness and long-
term organizational vision that can encompass the turbulences and paradoxes of
shifting terms and terrain's of business.
BACKGROUND
Beginning:- Concern was
promoted by Mr. V.C.Nannapaneni in the year 1981 as a Private Limited Company
to be in the business of Research, Developing, Manufacturing and Marketing of
Pharmaceutical Substances and Finished Dosage forms for Indian and
International markets. Subject began operations in 1984 in
First Success: - In the
first year of its operations it achieved a sales figure of Rs. 0.5 million. The
company's first product was Cardicap, which is an Anti-Anginal drug. Since then
the company has introduced many dosage forms into the market. By 1985 it had dosage
forms in Cardiovascular, Anti-cold, Anti-Asthmatic and Antibiotic segments.
Subject has the credit of having pioneered Time Release Technology in
The Journey:- Subject was
ranked 82nd in sales among Indian Pharmaceutical companies in 1994. Concern
also has the credit of being one of the largest contract manufacturers in
Ř Natco Parenterals Limited
Ř Dr. Karanth Pharma Labs Private Limited
Ř Natco Laboratories Limited
Merged with
it.
Today: - Concern, which began its operations as a single unit with 20 employees, today has four manufacturing facilities and employs around 1500 people. It has an on-line data for analysis and decision making. Consistently ranked among the fastest growing pharmaceutical companies in the country, Natco is utilizing its collective experience to kickstart its future plans as a global company. Respected for Quality, Performance, Care, and Responsibility and for creation and maximization of wealth for its shareholders Concern, the post-merger organization represents a strategic stage in subject’s constant evolution as the Complete Pharma Company.
Products
Company manufactures a comprehensive range of branded and generic dosage forms, bulk actives and intermediates for both Indian as well as International markets. The product range is constantly expanded through its own R&D initiative, basic research and also through joint ventures, technology transfers and collaborations.
It has an impressive and growing presence in all Pharma
segments in
DOSAGE FORMS
Company’s product come in various forms such as timed released capsules, tablets, inhalers, dry syrups, dispersible, syrups and suspensions, ointments, gels, injectables, infusions, sterile preparations and large and small volume parenterals.
Company’s branded products and generic versions of antibiotics, anti-malarial, amoebicides, analgesics, anti-pyretic, peripheral vasodilators, anti-anginal, anti-hypertensive, anti-asthmatic, tranquilizers, anti-depressants, oncologicals, anti-emetics, anti-anemic, nutritional supplements, bio-technology based drug forms and health products of natural origin have found wide acceptance.
Product List:
Ř Alphabetical Order
Ř Therapeutic Order
Ř Category wise
BULK ACTIVES AND INTERMEDIATES:
Company has strong capabilities to manufacture a wide range of bulk actives and intermediates. Some of these products is:
Ř Diltiazem
Ř Omeprazole
Ř Lansoprazole
Ř Isosorbides
Ř Sumatriptan succinate
Ř Ondansetron
Ř Sertraline
Ř Granisetron
Ř Paroxetine
Ř
Newer Quinolones and fourth generation
Cephalosorins.
For Domestic Marketing
Phone No: 91-40- 23547532
Fax No: 91-40- 23541217
Email: sales@natcopharma.co.in
News Updates For
the Year 2005-07
March 12, 2007
NATCO Announces Drug
Donation Program
De-mystifying the general notion
that “generic companies do not provide access programs” and “that they do not
contribute to making medicines available to poor patients who cannot pay for
their medicines”, subject, is pleased to announce an ambitious
drug access program.
Subject takes this opportunity to reiterate that
it already has a well established and running drug access program for its brand
– Veenat – the medicine for blood cancer (chronic myeloid leukemia).
As a continuation of this
program, subject has decided to support 10,000
breast cancer patients with free supply of generic version of Arimidex
Anastrazole. The supplies would be made through select cancer research
institutes / cancer hospitals all over the country. Internationally priced at
US $ 5 per tablet, patients are required to take one tablet each day.
August 24, 2006
NATCO launches Bortezomib
Injection, expects to become # 1 player in
Oncology
Subject, has announced the
launch of its brand – Bortenat (Bortezomib) 3.5 mg. injection. Bortenat is used
in the treatment of multiple myeloma.
Bortenat would be the first
time launch of the Bortezomib generic in the World, in addition to being a
first time introduction in
Consistent with its policy of making life saving drugs affordable, concern has priced Bortenat at Rs. 16,800
MRP as against Rs. 75,000 of the imported medicine. Being a pre 1995 invention,
concern does
not expect any litigation around this molecule.
Multiple Myeloma
(characterized by the abnormal plasma cell in the bone marrow) is cancer of the
plasma cell, which represents the immune system that produces immunoglobulin to
help fight infection and disease.
From among the several
types of blood cancers, Multiple Myeloma is the second most prevalent and
represents one percent of all cancers. From among cancer deaths, about 2% can
be attributed to multiple myeloma. While the cause of multiple myeloma remains
a mystery, in 99 per cent of the cases, multiple myeloma appears to have
affected people over 40 years old.
June 29, 2006
NATCO commences production
at Dehradoon Unit
Subject is pleased to announce
the commencement of commercial production at its finished dosages
pharmaceutical formulations unit at Dehradoon.
To begin with, oncological
formulations meant for domestic market are being manufactured at the Dehradoon
Unit. Planned to achieve a capacity level of 300 million tablets per annum, the
project is being implemented in stages. Plans are also afoot to establish a
Parenterals division at Dehradoon.
The
substantial benefits that accrue to the company on account of excise duty and
income tax are expected to boost the bottom level of the company.
June 12, 2006
NATCO launches Ibandronate
Sodium
Subject
has launched Ibandronate Sodium in tablet and injection forms.
Launched
under the brand name of Bandrone, Ibandronate Sodium is used in the treatment
of metastatic bone disease and elevated serum calcium levels in tumors. Cancer
cells, after breaking off from a primary tumor enter the main bloodstream,
thereby reaching nearly all tissues of the body. Bones are one of the most
common sites for these circulating cells to settle in and start growing.
Metastases can occur in bones anywhere in the body, but they are mostly found
in bones near the centre of the body.
A first time launch in
March 07, 2006
NATCO launches medicine for
Lymphocytic Leukemia
Concern is pleased to announce the launch of its brand Lymfuda 10 mg. tablets.
Lymfuda (Fludarabine), is an alkylating agent, useful in the treatment of
chronic lymphocytic leukemia (CLL).
CLL is characterized by a
large number of cancerous mature lymphocytic and enlarged lymph nodes. There
are approximately 4 patients per every lakh of population suffering from CLL.
Lymfuda is useful when patients are not responding to traditional treatment.
Launched for the first time in
With
this launch, and with the expected revenues from this product, NATCO would become a
top player in the oncology segment in the country, in terms of revenues.
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. 40.84 |
|
|
1 |
Rs. 80.73 |
|
Euro |
1 |
Rs. 55.23 |
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 |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 |
|