MIRA
INFORM REPORT
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Report Date : |
06.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
THE HIMALAYA DRUG COMPANY |
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Registered Office : |
Makali, Tumkur Roa, Banglore- 561123, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
01.01.1930 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRT00185D |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer, Importer and Exporter of Herbal Health Care Products |
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 500000 |
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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 an old
established and reputed concern engaged in manufacture and exporte of herbal formulations.
It has large manufacturing facilities. It has office/ representatives in
almost all the countries. The concern is doing well. Partners are
experienced, respectable and resourceful businessmen. It has been proposed to
change the partnership deed. The concern can
be considered good for any normal business dealings at usual trade terms and
conditions. |
INFORMATION PARTED
BY
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Name : |
Ms. Jayashree Ullal |
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Designation : |
Joint Chief Executive Officer |
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Date : |
02.06.2008 |
LOCATIONS
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Registered Office : |
Tumkur Road, Makali, Bangalore-562123, Karnataka, India |
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Tel. No.: |
91-80-23714444 |
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Fax No.: |
91-80-23714468 |
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E-Mail : |
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Website : |
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Area : |
30 Acres (Owned) |
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Overseas Offices : |
Located at v Cayman Islands v
Singapore v
UAE v
U.S.A. v
Bahrain v
Belgium v
Syria v
Bulgaria v
Canada v
Costa Rica v
Czech
Republic v
Ecuador v
Esstonia v
Fiji v
Ghana v
Greece v
Guatemala v
Holland v
Italy v
Kenya v
Kuwait v
Malaysia v
Mauritius v
Macedonia v
Nigeria v
Polant v
Portugal v
Qatar v
Romania v
Russia v
Serbia and
Montenegro v
Slovak
Republic v
Spain v
Sri Lanka v
Sultanate of
Oman s v
Switzerland v
Tanzania v
Uganda v
Ukraine v
Venezuela v
Zimbabwe |
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Branches : |
Located at:-
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PARTNERS
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Name : |
Mr. Meral Manal |
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Designation : |
Partner |
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Date of Birth/Age : |
62 years |
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Qualification : |
42 years |
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Name : |
Mr. Ravi Prasad |
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Designation : |
President and Chief Executive Officer |
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Date of Birth/Age : |
47 years |
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Qualification : |
22 years |
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Name : |
Dr. S. K. Mitra |
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Designation : |
Partner |
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Date of Birth/Age : |
50 years |
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Name : |
Mr. Shabir
Sheriff |
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Designation : |
Partner |
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Date of Birth/Age : |
50 years |
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Qualification : |
15 years |
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Experience : |
15 years |
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Name : |
Himalaya Global Holding Limited |
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Designation : |
Partner |
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Name : |
Himalaya Drug Company Private Limited |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Importer and Exporter of Herbal Health Care Products |
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Products : |
Medicinal
Range v Bonnisan (Tonic for babbies v
Koflet
(Cough reliever) v
Liv. 52
(tablets liver disorders) v
Confido v
Himocolin
Gel v
Himplasia v
Abana
(Anti-hyperlipidemic) v
Clarina
(Anti acne cream) v
Cystone
(Effective against urinary calculi and UTI) v
Diabecon
(Oral anti-diabetic) v
Diak of
(Cough Syrup for diabetics) v
Diarex (for
diarrhea) v
Mentat
(Memory enhancer) v
Septillin
(Immunomodulator) v
Clarina
(Anti-acne cream) v
Evercare
(Uterine Tonic) v
Lukol
(Treats Leukorrhea) v
Menosan
(Menopausal Confort) v
Speman
(Increases Sperm Count) v
Tentex Forte
(Increases Libido) v
Tentex Royal
(Enhances desire and improves performance) v
Homcocid
(Relieves hyperacidity) v
Himcospaz
(Antispasmodic) v
Ophthacare
(For eye Care) v
Renalka v
Reosto v
Styplon v
V-Gel v
Geriforte v
Herbolax v
PureHands v
Purim Body
Care v
Anti Stress v
Cold Relief v
Digestive
Health v
Pimple
Control v
Weight
Control v
Foot Care v
Multi
Purpose Cream v
Pain Relief v
Face Packs v
Facial Toner v
Facial
Cleansers v
Fairness
Cream v
Moisturisers
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Skin
Nutrients v
Soap Free
Face Washes Hair
Care v Conditioner v
Dandruff
Control v
Hair Loss
Control v
Protein
Shampoos |
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Exports : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
Europe and U.S.A |
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Terms : |
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Selling : |
Advance Payment For Indian Clients : Cash on Delivery For international Clients : Credit 120 to 180 Days |
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Purchasing : |
Advances Payments and L/C at sight terms 120 Days |
GENERAL
INFORMATION
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Suppliers : |
v Farmers Co-operative Societies in
Karnataka v
Sai
Packaging, Bangalore v
National
Polymers, Mumbai |
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Customers : |
v Transaltlawtic, Moscow v
National
Medical Centre, Dubai v
Coffee Day
Outlets, India v
Shoppers
Stops, India v
Food world,
India v
Life Style, India
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No. of Employees : |
3000 |
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Bankers : |
v Union Bank of India, Commercial Street,
Bangalore-560001, Karnataka v
Bank of Nova
Scotia, M. G. Road, Bangalore-560001, Karnataka |
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Facilities : |
The concern enjoy
substantial facilities from its bankers
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Vishnu &
Company Chartered
Accountant Bangalore,
Karnataka, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 100.000
Millions |
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Borrowed : |
-- |
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Total : |
Rs. 100.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
5500.000 |
5500.000 |
4000.000 |
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Export Value |
N.A. |
N.A. |
1000.000 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
Subject was
established in the year 1930 at Dehradun in Uttar Pradesh as a partnership
concern.
The office shifted
to the present address during the year 1975.
Seventy-four
years ago, on a visit to Burma, Himalaya’s founder, Mr. M. Manal, saw restless
elephants being fed with a root to pacify them. The plant from which this was
taken is Rauwolfia
serpentina. Fascinated by the plant's
effect on elephants, he had it scientifically evaluated. After extensive
research, Serpina, the world’s first anti-hypertensive drug, was launched in
1934
milestones
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Year |
Achievement |
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1930 |
Mr. M. Mangal
founds The Himalaya Drug Company. His Vision put Aurveda on par with modern
medicine |
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1934 |
Launch of Serpina,
the world’s first anti-hypertensive drug, derived from Rauwolfia Serpentina |
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1950 |
Dr. Roshan M.
Captain, Ph. D. Joins the company and Spearheads research and development. |
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1955 |
Liv.52, a hepatoprotective,
is launched and goes on to become one of the world’s top-selling drugs. |
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1964 |
Mr. Meraj A.
Manal, the founder’s son, joins the company. |
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1965 |
Mr. Karstein, a German
pharmaceutical consultant, directs the company’s focus towards allopathic
medical practitioners. |
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1975 |
An advanced
manufacturing facility is set up in Bangalore. The facility grows to become
the corporate headquarters |
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1991 |
The company’s
R&D center moves to Bangalore. Research and development becomes a very
important aspect of the company’s focus. |
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1996 |
The company opens
its US office at Houston, Texas. |
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1998 |
The Animal Health
Product range for commercial livestock is launched. |
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1999 |
Himalaya Herbals
launches its personal healthcare products in India. |
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2000 |
The company
launches a special range for pets called the Companion Care range. |
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2001 |
The company adopts a new unified
brand identity |
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.86 |
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UK Pound |
1 |
Rs.83.58 |
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Euro |
1 |
Rs.66.17 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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PAID-UP CAPITAL |
1~10 |
8 |
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OPERATING SCALE |
1~10 |
8 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
8 |
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--LIQUIDITY |
1~10 |
8 |
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--LEVERAGE |
1~10 |
8 |
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--RESERVES |
1~10 |
8 |
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--CREDIT LINES |
1~10 |
8 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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