MIRA
INFORM REPORT
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Report Date : |
17.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
V H B LIFESCIENCES LIMITED |
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Formerly Known As : |
V H B LIFESCIENCES INC |
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Registered Office : |
40-B/2, Shanker Smruti Building, Near Hotel Midtown Pritam, Sir
Bhalchandra Road, Dadar , Mumbai – 400 014, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 (V H B LIFESCIENCES) |
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Date of Incorporation : |
13.06.2007 |
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Com. Reg. No.: |
171648 |
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CIN No.: [Company
Identification No.] |
U74900MH2007PLC171648 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMV10887C |
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PAN No.: [Permanent
Account No.] |
AAAFV5522G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer, Trader, Exporter and Importer of
Pharmaceutical Products. |
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject has taken the running business of erstwhile partnership concern. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are fair. Subject is doing very well. The company can be considered good for normal business
dealings. It can be reported as a promising business partner in a medium to
long run. This record was up-dated by Mr. Ashok Shetty of the company in
absence of partner. |
INFORMATION PARTED
BY
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Name : |
Mr. Navin Maheshwari |
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Designation : |
DGM – Accountants |
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Contact No.: |
91-22-24161006 |
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Date : |
14.03.2008 |
LOCATIONS
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Registered Office : |
40-B/2, Shanker Smruti Bldg., Near Hotel Midtown Pritam, Sir
Bhalchandra Road, Dadar , Mumbai – 400 014, Maharashtra, India |
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Tel. No.: |
91-22-24161006 |
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Fax No.: |
91-22-24108346 |
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E-Mail : |
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Website : |
http://www.vhbgroup.com |
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Area : |
600 Sq. ft. |
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Location : |
Owned by director |
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Factory : |
Located at 12 different places.(All Over India)
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DIRECTORS
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Name : |
Mr. Vipul Bhagat |
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Designation : |
Director |
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Name : |
Mr. R. C. Bhagat |
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Designation : |
Director |
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Name : |
Mrs. Anju S. Gupta |
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Designation : |
Director |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader, Exporter and Importer of Pharmaceutical Products. |
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Products : |
Pharmaceuticals Products |
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Agencies Held : |
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Exports : |
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Countries: |
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Imports : |
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Countries: |
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Terms : |
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Selling : |
L/C, Cash , Credit ,T/T or D/A (90 days) terms |
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Purchasing : |
D / A Terms |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
Around 2500 |
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Bankers : |
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Bank of Baroda , Matunga (C. R. ), Mumbai – 400 019 |
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Facilities : |
The concern is reported to enjoy large facilities from bank Cash Credit – Rs.880.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Singhrodia Goyal and Company Chartered Accountant |
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Address : |
Andheri (East), Mumbai, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Share |
Rs.10/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Share |
Rs.10/- each |
Rs.0.500 Million |
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Total Promoters Fund – Rs.320.000 Millions
FINANCIAL DATA
[all figures are in Rupees Millions]
(V H B
LIFESCIENCES)
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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2000.000 |
1800.000 |
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Expected Sales (2007-08) : Rs.3000.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Profile:
History has a special mention of VHB Life Sciences Inc., for
over six decades now since its inception in 1946, it has to its credit the
introduction of a wide range of highly specialized innovative formulations 15
of which hold the Numero Uno position in India and globally.
Currently VHB Life Sciences Inc. is rated as the fastest growing pharmaceutical
organization. The vision that it has believed in "to Save Lives through
Life Saving Drugs" has earned it tremendous goodwill of being a respected
and reputed name in India since 1946.
Over 21 Branch Offices, 3500 Distribution Centers having the most Ultramodern
Cold Chain Maintenance infrastructure and a field force of over 2500 dedicated
professionals covering over 2,00,000 doctors has earned the highest accolades
from the medical fraternity and institutions across the globe.
Milestones
and Achievements
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1946 – 1960 : V. H.
Bhagat and Company pioneered the introduction of many MNC's in India.
Introduced Levodopa + Carbidopa combination for Parkinson Disease,
Pyridostigmine tablet for Myaesthenia gravis. 1960 – 1970: VHB Life Sciences Inc. was first to introduce Oral
Polio vaccine & many other vaccines in India 970 – 1980: Introduced a number of super-speciality products 1977: Inj Aprotinin 1978 - Caps penicillamine 1979 - Measles
vaccine 1980 – 1990 : Continued its mission of launching innovative
formulations 1980 : Inj Vincristine sulphate 1981 Human Diploid Cell Rabies
Vaccine 1984 : MMR Vaccine 1987 -Plasma- derived Hepatitis – B Vaccine 1989 : Hepatitis-B Immune Globulin, Inj. Streptokinase, Inj.
Urokinase, Inj. Gensparin Sodium 1990 – 2000 : V. H. Bhagat and Co. Transformed into integrated
VHB Life Sciences Inc. being known as a market driven company with the
introduction of typhoid vaccine, growth hormones, immunosuppressants,
steroids etc ... 2001 and beyond : VHB Life Sciences Inc. took birth spearheading
its foray into manufacturing & marketing of wide range of therapeutic
formulations year after year. It emerged as India 's fastest growing and most
reputed pharma company. VHB Life Sciences Inc. took shape with 3 integrated
independent SBU's. During 2004, Highly Purified Gonadotropin hormones were
launched. 2005 onwards: Manufacturing of API's was initiated. Expanded
product portfolio into widest range of therapeutic segments such as·Anti-Cancer,
Neurology, Cardiology, Hormonal & Infertility, Immunology, Nephrology,
Gastroenterology, Anesthetics, Anti-infectives, Anti Microbial, Vitamins
& Mucolytics were launched. 2006 and beyond : Undertook establishment of self owned
STATE-OF-THE-ART Manufacturing plant compliant to USFDA, TGA, UK MHRA
Standards. - 100% growth envisaged every year for the next 3 years. |
- Planning to launch 15 new products every year–mainly blood
products, recombinant products, anti cancer drugs, herbals etc.
Corporate Governance:
All VH Bians believe in an unsullied commitment to the corporate mandate “Doing
Business Ethically Makes For Better Business”.
There is strict adherence to Pharmaco-ethics governing the product development,
promotion, sales, prescription, and usage of our pharmaceutical products.
In addition, professional ethics govern policies regarding Finance and
Accounting, Human Resource, Sales and Marketing, Production, Intellectual
Property, Knowledge and Skills and also International Business. Continuous
endeavors are made to reinforce flawless adherence to these ethical standards
among all stakeholders.
All these measures show that there is total compliance to the MBE system
It is in trade terms with:
- Bayer AG- Germany
- Biochemie GmbH –Austria
- Bristol Myers and Squibb – USA
- Egis Pharma – Hungary
- Ferring GmbH- Germany
- Glenwood Laboratories – U.K.
- Merck Sharp Dohme – Italy
- Pasteur Merieux- France
- Rhone Poulenc – U.K.
- Roche - Switzerland
- Sandoz Laboratories – U.K.
- Sumitomo Corp. – Japan
- Shin Poong Pharma – Korea
- Sidmak Laboratories Inc. – USA
- Wellcome Foundation – U.K.
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.40.45 |
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UK Pound |
1 |
Rs.82.25 |
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Euro |
1 |
Rs.63.20 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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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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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
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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/normal. |
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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