MIRA
INFORM REPORT
|
Report Date : |
29.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
HINDUSTAN LATEX LIMITED |
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Registered Office : |
Latex Bhavan, Mahilamandiram Road, Poojapura P. O., Thiruvananathapuram – 695 012, Kerala |
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Country : |
India |
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Financials (as
on) : |
31.03.2007 |
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Date of Incorporation : |
01.03.1966 |
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Com. Reg. No.: |
09-2621 |
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CIN No.: [Company Identification No.] |
U25193KL1966SGC002621 |
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TAN No.: [Tax Deduction & Collection Account No.] |
BLRH02231F |
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PAN No.: [Permanent Account No.] |
AAACH5598K |
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Legal Form : |
A Closely Held Public Limited Liability Company. It is wholly owned by Government of India. |
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Line of Business : |
Manufacturing, trading and marketing of condoms for National Family Planning programme of Government of India and manufacture of Oral Contraceptives like Birth Control Pills and Intra Uterine devices and health care products like Blood Bags, Hydrocephalus Shuts, Surgical Gloves and Surgical Sutures. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
RATING
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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 5400000 |
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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 Government of India Company. Trade relations are fair. Financial position is good. Payments are correct and as per commitments. The company is doing well. It can be considered good for any normal business dealings. It can be regarded as a promising business partner in a medium to long-run. |
LOCATIONS
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Registered Office / Corporate Office: |
Latex Bhavan, Mahilamandiram Road, Poojapura P. O., Thiruvananathapuram – 695 012, Kerala, India |
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Tel. No.: |
91-471-2341149/2341219/2341352/2354949 |
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Fax No.: |
91-471-2340739/2340125/2358890/2356739 |
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E-Mail : |
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Website : |
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Factory : |
Located at :- Peroorkada, Trivandrum, Kerala, Thiruvananthpuram- 685005, Kerla, India\ |
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Tel. No.: |
91-471-2437270 / 2433602 / 0433459 / 2432898 / 2432292 |
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Fax No.: |
91-471-2435013 |
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E-Mail : |
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Factory: |
Akkulam Factory, Thiruvananthapuram Akkulam, Thiruvananthapuram, Kerala, India |
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Tel. No.: |
91-471-2441384, 2442641 |
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Fax No.: |
91-471-2441383 |
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E-Mail : |
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Factory: |
Kakkanad Factory,
Cochin Kangala, Belgaum- 591225,
Karnataka, India |
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Tel. No.: |
91-8333-279244/ 279206/ 279207 |
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Fax No.: |
91-8333-279245/ 27925026 |
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E-Mail : |
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Factory: |
Mensar Factroy
Gurgaon Plot No. 71, Sector7, OMT, Manesar, Gurgaon, Haryana-122051, India |
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Tel. No.: |
91-124-4030949 |
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Fax No.: |
91-124-4030949 |
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E-Mail : |
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Factory: |
Kakkanand Factory,
Cochin Plot No. 16-A/1, Cochin Special Economic Zone, Kollanand, Cochin-682037, Karnataka, India |
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Tel. No.: |
91-484-2413332/ 241 |
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Fax No.: |
91-484-2413293 |
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E-Mail : |
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Factory: |
Procurement and
Consultancy Services Services Division, B-12, Sector-59, Noida-201301, Uttar Pradesh, India |
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Tel. No.: |
91-120-4324572/ 3200131/ 3200132 |
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Fax No.: |
91-120-4324573 |
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E-Mail : |
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Resident Representatives at Delhi: |
v HLL Liasion Office, 4668/21, Daryaganj, New Delhi – 110002 Tel. No. 91-11-23278435/23266435 (Res.) Fax. No. 91-11-23273740 E-mail. hllco@satyam.net.in Contact Person – Mr. O. N. Gupta |
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Units / Zonal / Regional Office : |
v Nirodh Factory, Peroorkada, P. O., Trivandrum – 695005, Kerala Tel. No. 91-471-2437270/2433602/2433459 Fax. No. 91-471-2435013 E-mail. hllnft@md2.vsnl.net.in Contact Person – Mrs. Darly Francis v Nirodh Factory, Kanagala, Belgaum – 591225, Karnataka Tel. No. 91-8338-231443/279207/279239 Fax. No. 91-8338-220443 Contact Person – Mr. K. K. Suresh Kumar (General Manager)) |
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Guest House (S) : |
HLL Guest House, Poorappura, Trivandrum – 695012, Kerala Tel. No. 91-471-2341149/3241219 Fax. No. 91-471-2340739 |
DIRECTORS
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Name : |
Mr. Gangadharan Rajamohan |
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Designation : |
Chairman |
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Address : |
Sripadam,
Sasthamangalam, Thiruvananthapuram – 695010, Kerala |
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Date of
Birth/Age : |
27.07.1943 |
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Date of
Appointment : |
01.08.2003 |
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Date of
Ceasing : |
20.01.2005 |
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Election
Commission Identity card No. |
KL/20/136/021681 |
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Name : |
Mr. M. Ayyappan |
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Designation : |
Managing Director |
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Address : |
Sripadam,
Sasthamangalam, Thiruvananthapuram – 695010, Kerala |
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Date of
Birth/Age : |
22.05.1956 |
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Date of
Appointment : |
01.08.2003 |
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Date of
Ceasing : |
31.07.2008 |
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Election
Commission Identity card No. |
FVM1101617 |
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Name : |
Mr. Satyendra Nath Pal |
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Designation : |
Director
(Technical & Operations) |
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Address : |
Ashirbad,
Elangathnagar, Thiruvananthapuram – 695006, Kerala |
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Date of
Birth/Age : |
10.05.1951 |
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Date of
Appointment : |
27.11.2002 |
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Date of
Ceasing : |
26.11.2007 |
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Election
Commission Identity card No. |
HVX1831205 |
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Name : |
Mr. Sanjeev Misra |
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Designation : |
Director |
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Address : |
C – II/ 38,
Shajahan Road, New Delhi |
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Date of
Birth/Age : |
16.12.1947 |
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Date of
Appointment : |
19.07.2004 |
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Name : |
Mr. Navreet Singh Kang |
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Designation : |
Director |
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Address : |
370-KP,
Thakkarblock, Asiadvillage, New Delhi |
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Date of
Birth/Age : |
12.04.1958 |
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Date of
Appointment : |
05.06.2003 |
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Name : |
Mr. K. K. Suresh Kumar |
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Designation : |
Director Marketing |
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Address : |
Pranamam TC VI / 1284
/ 8, Pipeline Road, PTP Nagar, Avenue-695010, Kerala |
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Date of
Birth/Age : |
29.11.1956 |
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Date of
Appointment : |
19.02.2004 |
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Date of
Ceasing : |
18.02.2009 |
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Election
Commission Identity card No. |
MBZ 1555390 |
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Name : |
Mr. V. A. Sasidharan Nair |
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Designation : |
Executive Director |
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Address : |
House No. 150, TC
2/1194, Kedaram Nagar, Pottakuzhi Pattom, Thiruvananthapuram – 695004, Kerala |
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Date of
Birth/Age : |
28.05.1952 |
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Date of
Appointment : |
03.04.1997 |
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Name : |
Mr. Raghubir
Singh |
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Designation : |
Director |
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Name : |
Mr. Braj Kishore
Prasad |
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Designation : |
Director |
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Name : |
Mr. V Meenakshi
Sundaram |
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Designation : |
Director ( Part
Time) |
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Name : |
Mr. K Mohan Das |
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Designation : |
Director |
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Name : |
Mr. V Sanjeevi |
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Designation : |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of
Shareholders |
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No. of Shares |
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The President of
India |
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155347 |
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J. V. R. Prasada
Rao |
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01 |
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Navreet Singh
Kang |
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01 |
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P. K. Hota |
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01 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, trading and marketing of condoms for National Family Planning programme of Government of India and manufacture of Oral Contraceptives like Birth Control Pills and Intra Uterine devices and health care products like Blood Bags, Hydrocephalus Shuts, Surgical Gloves and Surgical Sutures. |
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Products : |
v Condoms v Contraceptive Pills v Copper T : 313 v Blood bags v Hydrocephalus Shunts v Sutures v Male Contraceptive Rubber Condoms : 312 v Mala D/ N : 304 |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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PRODUCTION STATUS
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Particulars |
Unit |
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Installed Capacity |
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Condom |
M.Pcs. |
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670.000 |
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Steroidal OCPs |
M.Cycles |
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30.000 |
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Non-Steroidal |
M.Tables |
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30.000 |
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Copper –T |
M.Pcs. |
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4.000 |
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Emergency Pills |
M.Tables |
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-- |
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Blood Bag |
M.Pcs. |
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2.000 |
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Suture |
M.Pcs. |
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1.500 |
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Hydrocehalus Shunt |
Pcs. |
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5.000 |
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Tubal Ring |
Pcs. |
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-- |
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Tissue Expander |
Pcs. |
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2.000 |
GENERAL
INFORMATION
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Customers: |
v UNFPA v WHO v PSI v FHI v IDA |
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No. of Employees : |
1853 |
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Bankers : |
State Bank of India M G Road Trivandrum Punjab National Bank M G Road Trivandrum State Bank of Travancore Canara Bank |
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Facility : |
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Banking Relations
: |
Good |
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Auditors : |
K Varghese & Company Chartered Accountants “Sriniketan” P. B. No. 12, Vhettikulangara, Thiruvananthauram - 695001 |
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Tel No : |
91-471-2479181 |
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Fax No : |
91-471-2476280 / 2477719 |
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Email : |
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Sister Concerns : |
All Government of India Undertaking Companies |
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Membership : |
Confederation of Indian Industry |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.1000/- |
Rs. 200.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
155400 |
Equity Shares |
Rs.1000/- |
Rs. 155.400 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF
FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
SHAREHOLDERS FUNDS |
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1] Share Capital |
155.400 |
155.350 |
155.350 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
944.300 |
817.422 |
658.330 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
NETWORTH
|
1099.700 |
972.772 |
813.680 |
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LOAN FUNDS |
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1] Secured Loans |
284.900 |
146.152 |
86.581 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
TOTAL BORROWING
|
284.900 |
146.152 |
86.581 |
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Grant / liabilities payable as
per Contra
|
0.000 |
0.000 |
598.869 |
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DEFERRED TAX
LIABILITIES |
0.000 |
18.341 |
33.875 |
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TOTAL
|
1384.600 |
1137.265 |
1533.005 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
391.900 |
385.290 |
365.180 |
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Capital work-in-progress |
70.500 |
3.668 |
9.191 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
509.200 |
315.348 |
304.486 |
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Sundry Debtors |
835.700 |
572.664 |
474.757 |
|
Cash & Bank Balances |
324.600 |
218.735 |
115.222 |
|
Other Current Assets |
0.000 |
17.360 |
10.903 |
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Loans & Advances |
525.800 |
224.500 |
220.495 |
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Total Current Assets |
2195.300 |
1348.607 |
1125.863 |
Less :
CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
Current Liabilities |
1046.900 |
438.277 |
388.825 |
Provisions
|
255.900 |
162.023 |
177.273 |
Total Current Liabilities
|
1302.800 |
600.300 |
566.098 |
Net Current Assets
|
892.500 |
748.307 |
559.765 |
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MISCELLANEOUS
EXPENSES |
29.700 |
0.000 |
598.869 |
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TOTAL
|
1384.600 |
1137.265 |
1533.005 |
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
2449.200 |
2140.700 |
1969.400 |
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Other Income |
323.400 |
143.300 |
117.200 |
|
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Total Income |
2772.600 |
2284.000 |
2086.600 |
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Profit/(Loss) Before Tax |
275.100 |
311.600 |
337.200 |
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Provision for Taxation |
100.400 |
105.200 |
136.100 |
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Profit/(Loss) After Tax |
174.700 |
206.400 |
201.100 |
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Earnings in Foreign Currency : |
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Export Earnings |
NA |
97.722 |
135.420 |
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Imports : |
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Import Value |
NA |
NA |
42.015 |
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Expenditures : |
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Manufacturing Expenses |
544.100 |
479.100 |
72.700 |
|
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Employees Cost |
481.700 |
443.200 |
423.300 |
|
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Administrative Expenses |
506.600 |
417.100 |
406.400 |
|
|
Miscellaneous Expenses |
30.600 |
34.400 |
2.300 |
|
|
Raw Material Consumed |
820.700 |
379.300 |
688.700 |
|
|
Excise Duty |
14.400 |
11.800 |
7.400 |
|
|
Increase/(Decrease) in Finished Goods |
[135.200] |
17.000 |
[26.200] |
|
|
Interest and Financial Charges |
34.900 |
8.400 |
11.600 |
|
|
Power & Fuel |
133.600 |
120.700 |
105.800 |
|
|
Depreciation & Amortization |
66.100 |
61.400 |
57.400 |
|
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Other Expenditure |
2632.7 |
1955.4 |
1775.6 |
|
Total Expenditure |
2497.500 |
1972.400 |
1749.400 |
|
KEY RATIOS
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Debt-Equity Ratio |
0.21 |
0.13 |
0.11 |
|
Long Term Debt-Equity Ratio |
0.03 |
0.07 |
0.07 |
|
Current Ratio |
1.55 |
1.85 |
1.75 |
|
TURNOVER RATIOS |
|
|
|
|
Fixed Assets |
2.18 |
2.03 |
2.03 |
|
Inventory |
5.88 |
6.82 |
6.88 |
|
Debtors |
3.48 |
4.09 |
5.90 |
|
Interest Cover Ratio |
8.88 |
38.10 |
30.07 |
|
Operating Profit Margin(%) |
15.36 |
17.82 |
20.63 |
|
Profit Before Interest And Tax Margin(%) |
12.66 |
14.95 |
17.71 |
|
Cash Profit Margin(%) |
9.83 |
12.51 |
13.13 |
|
Adjusted Net Profit Margin(%) |
7.13 |
9.64 |
10.21 |
|
Return On Capital Employed(%) |
25.06 |
31.69 |
42.19 |
|
Return On Net Worth(%) |
16.86 |
23.11 |
27.04 |
LOCAL AGENCY
FURTHER INFORMATION
History
Subject was set-up in 1969 with the objective of providing good quality
condoms for the National Family Planning Programme of Government of India.
Today, HLL is one of the world's largest manufacturers of condoms. HLL has
diversified into the manufacture of Oral Contraceptives like birth control
pills and Intra Uterine devices and health care products like Blood Bags,
Hydrocephalus Shuts, Surgical Gloves and Surgical Sutures.
HLL has developed an impressive production infrastructure for the
manufacture of Contraceptives and Health Care Products. HLL started commerical
production of condoms in 1969 at its manufacturing plant at Peroorkada,
Trivandrum, Kerala State South India with the technical assistance from M/s
Okamoto Ind., Japan.
HLL is providing consultancy services to M/s Electro-Medical and Allied
Industries Limited, Kolkata for setting up a unit for the manufacture of Blood
Bags. The unit is expected to be commissioned shortly.
In 2000-01,HLL was awarded the Procurement Support Agency Contract for
the procurement and supply of Essential Obstetric Care Kits, Emergency
Obstetric Care Kits and RTI/STI Kits
Fixed
Assets
v Land
v Building
v Plant and Machinery
v Furniture and Fixture
v Motor Vehicles
AS PER
WEBSITE
A brief profile
Hindustan Latex (HLL) commenced its journey to serve the Nation in the
area of Health Care, on March 1, 1966, with its incorporation as a corporate
entity under the Ministry of Health and Family Welfare of the Government of
India. HLL was set up in the natural rubber rich state of Kerala, for the
production of male contraceptive sheaths for the National Family Planning
Programme.
The company commenced its commercial operations on April 5, 1969 at
Peroorkada in Trivandrum. The Plant was established in technical collaboration
with M/s Okamoto Industries Inc. Japan. Two most modern Plants were added, one
at Thiruvananthapuram and the other at Belgaum in 1985.
The new condom plant inaugurated by the Union Minister for Health and
Family Welfare, Dr. Anbumani Ramadoss on 24th November 2007 has added another
283 million pcs to the Peroorkada Plant’s existing capacity With
this the production facility at Peroorkada has emerged as one of the largest
single manufacturing Plant’s in the world for the production of Condoms, with a
capacity to produce over 1 Billion Condoms a year. With the
addition of this capacity, HLL today has an annual production capacity of 1.316
billion condoms.
HLL is today a multi-product, multi-unit organization addressing various
public health challenges facing humanity.
On the path of rapid growth, HLL has set its sights to be a Rs 10000
Millions company by the year 2010.
HLL has been declared a Mini Ratna Company by the Government of India
and upgraded as a Schedule B PSU.
Hindustan Latex is the only company in the world manufacturing and
marketing the widest range of Contraceptives. It is unique in providing a
range of Condoms, including Female Condoms, Intra Uterine Devices, Oral
Contraceptive Pills - steroidal, non-steroidal and Emergency Contraceptive
pills; Contraceptive Cream, and Tubal Rings.
HLL’s Health care product range include: Blood Collection Bags, Surgical
Sutures, Auto Disable Syringes, Vaccines, Women’s Health Care Pharma products,
In - Vitro Diagnostic Test Kits, Hydrocephalus Shunt, Tissue Expanders, Needle
Destroyers, Blood Bank equipment, Iron and Folic Acid Tablets, Sanitary
Napkins, and Oral Rehydration Salts.
With a vast array of innovative products and social programmes launched
to meet the nation’s health care needs, Hindustan Latex Limited (HLL) is year
after year taking a step closer to its vision of Innovating for Healthy
Generations.
Over the past sixteen years HLL has steadily set up a strong and sound
infrastructure for direct marketing. HLL has put in place a vast distribution
network covering the length and breadth of the country. HLL’s products
today reach over five lakh retail outlets, in 10 states, covering over 600
districts, 1509 distribution points, including over a lakh villages, in the remotest
corners of the nation.
It is the leading social marketing organization in the country in the
area of contraceptives - with a market share of over 65 percent in the rural
and semi urban markets, including in the highly populated states of UP, Madhya
Pradesh, Bihar etc.
HLL has also made vast inroads in the commercial segment too, with the
growth in its market share from 0.1 percent over a decade back to 19 percent at
present. HLL’s products are today exported to over 70 countries.
HLL’s association with world leaders include those with Okamoto of
Japan; Finishing Enterprises, USA; Becton and Dickinson, USA; Female Health
Company, USA; Gambro BCT, Sweden; Beijing Zizhu Pharma of China and Acumen
Fund, USA.
HLL has today five state of the art manufacturing facilities - two at
Thiruvananthapuram (at Peroorkada and Akkulam) manufacturing Contraceptives and
Health Care products, at Kanagala (near Belgaum) producing contraceptives and
Womens Health Pharma range, at Kochi in the Special Economic Zone for Female
Condoms, and at Manesar in Haryana for the production of In-Vitro Diagnostic
Kits. These Units have the ISO 9001, ISO 14001- quality and environmental
management system certifications. HLL’s Peroorkada Plant was also awarded the
OHSAS 18001 Certification for its efficient Occupational Health and Safety
Management System.
HLL is investing heavily in the area of Research and Development. It is
setting up a national centre for Research in the area of Contraceptive products
The Company has achieved a turnover of Rs. 2440.000 Millions during the
last financial year - 2006-07 and a profit after tax of Rs. 200.600 Millions.
HLL – A World wide
provider of Contraceptives and Health Care Products
HLL is today the leading provider of contraceptive and health care
products for various public health programmes managed by international agencies
like – UNFPA, Mission Pharma, PSI and IDA. HLL is partnering with the
Government of India in the National Rural Health Mission, Reproductive and
Child Health Project and the National AIDS Control Programme.
HLL has the highest quality certifications awarded by reputed
international agencies.
All its products have the CE Mark, and its range of condoms have the US
FDA 510k registration, the KITE mark, SABS mark and the TBS mark.
Major Events in the area of Health Care
In partnership with Becton and Dickinson (BD) – one of the world’s
leading Health Care companies, HLL recently introduced Bsure – reuse prevention
syringe for use in the curative segment. This is a major step to address the
public health challenge facing the nation. The Bsure syringe employs a unique
plunger breaking mechanism that is ‘clinician activated’, to eliminate any
possible reuse of the syringe. HLL had also earlier introduced the ‘Autolok’-
auto destructive syringe, for the national immunization programme.
HLL has teamed up with M/s Gambro BCT - a Swedish Company, a global
leader in automated blood collection technologies, therapeutic aphaeresis, and
leukaphaeresis, for cell therapy applications. HLL is marketing their Blood
Component Therapy Aphaeresis Systems in India.
The Aakkulam Unit of HLL has recorded outstanding performance for the
year 2006-07. The Unit manufactured a record 5.5 M Pcs. of Blood Transfusion
Bags during the past year. The Unit also produces Surgical Sutures, Copper T’s,
Tubal Rings, Hydrocephalus Shunts and Tissue Expanders.
HLL’s Blood Bags have been registered in Brazil and these were launched
here on 23rd June, 2006.
HLL has also introduced Closed System Blood Bags that are integrated
with Leukocyte Filter - called LD Bags. These bags are intended for
leuko-depletion immediately upon collection of blood from donors at blood
banks.
In the area of the Female Condom, HLL has entered into an agreement with
The Female Health Company (FHC), a US company, to market their primary product
- FC female condom in India. FHC is the manufacturer of FC female condom, the
only female controlled prevention technology approved by the US FDA and the
WHO. FC is distributed in over 100 countries around the world. HLL is in talks
with FHC, for a possible transfer of technology to enable production of FC
Female Condoms in the country.
HLL launched on 17th Decembrer, 2007 Velvet - the new condom for women
in India. Targeted at contemporary Indian women and new age couples, this risk
free condom ensures full protection during sexual intercourse. Velvet is made
of a special material called nitrile, which is thinner and stronger than the male
condom, making it more reliable during usage. These superior quality nitrile
condoms are women initiated contraception and come with dual protection against
unwanted pregnancy and STDs, HIV/AIDS.
New Business
- Vaccines
- LifeSpring
Hospital Network
- Women’s
Health Care Pharma Products
- In - Vitro
Diagnostic Test Kits
- HindLabs
Diagnostic Centre
- MediPark
HLL has ventured into the area of Vaccines – to take on the challenge
posed by communicable diseases, which are responsible for a significant share
of the global burden of diseases, particularly in developing nations. The need
to have affordable high quality vaccines for preventing communicable diseases
is a public health priority in India. The company has initially launched the
marketing of Hepatitis B and Typhoid Vaccines.
The Ministry of Health and Family Welfare handed over to HLL on 11th
January 2008, nearly 300 acres of land at Chengalpet, near Chennai in
Tamil Nadu, for its proposed Medical Equipment Park and Vaccine Project. The
MediPark is envisaged to be an integrated manufacturing facility complex of
international standards in the field of healthcare and shall comprise of
manufacturing industries for medical diagnostics, equipments, disposables and
devices. The complex will also house an incubation centre.
HLL started the LifeSpring Hospital Chain to provide cost effective
quality care, particularly in the area of reproductive health for the low
income population. The first LifeSpring Hospital was launched at Hyderabad in
December 2005 and also at Kanpur and at Agra in UP.
HLL and Acumen Fund, a nonprofit venture philanthropy fund based in the
US formed on 18th March, 2008, LifeSpring Hospitals (Private) Limited - a joint
venture intended to create a chain of small hospitals (20-25 beds) focused on
providing low-income clients in the country widespread access to maternal and
child health care services. The company, a 50/50 equity partnership
between HLL and Acumen, will support LifeSpring’s plan to open five hospitals
in 2008 and thirty across India by the end of 2010 and scale to 140 franchised
hospitals between 2010 and 2012. This is a unique social franchising initiative
for creating access to good quality reproductive health services to poor
people, at affordable prices.
LifeSpring charges range between 30-50% of the prevailing market rates,
and will significantly reduce the burden of rising health costs on the nation’s
low-income communities, helping to reduce poverty. LifeSpring Hospitals will
offer the following key services: antenatal care, postnatal care, deliveries
(normal and caesarean), family planning services and medical termination of
pregnancy, pediatric care, including immunizations, as well as diagnostic
services, a pharmacy, and health care education to the communities in which it
works
Procurement and Consultancy Services Division of Hindustan Latex handles
the procurement of Drugs, Chemicals, Medical Equipments and other health sector
goods for its clients at a pre-decided commission rate agreed upon by both HLL
and the client through a written contract. Currently HLL (P and CD) is handling
the procurement of different Central Government Agencies such as NACO, NVBDCP
and MCD. P and CD of HLL also procures medical equipments for several medical
colleges all over India under the PMSSY Scheme on behalf of the Ministry of
Health and Family Welfare, Government of India. This division also provides
procurement and consultancy services for HLFPPT and HLL’s Pregnancy kit Manufacturing
Factory at Manesar (MFG). The import of JE Vaccines from Chengdu Institute of
Biologicals, China for and on behalf of Ministry is also coordinated by the P
and CD of Hindustan Latex Limited.
Infrastructure Division (ID) of Hindustan Latex Limited is the in-house
consultant to the Ministry of Health
Family Welfare, Govt. of India for up-gradation of Medical Colleges at
Bangalore, Salem and Trivandrum under Pradhan Mantri Swasthya Suraksha
Yojna(PMSSY) and also for six AIIMS like hospitals at Bhopal, Bhubaneswar,
Jodhpur, Patna, Raipur and Rishikesh. ID of HLL is also the consultant to
MOHandFW for up-gradation of JIPMER, Pondicherry.
HLL set up last year, a dedicated ‘Women’s Health Care Pharma Division
to cater to the reproductive Health Care needs of women - covering all age
groups. The initial focus of the division will be the Gynaec segment, the
products of which will be promoted through Doctors. All products for this
Division are being manufactured at HLL’s Kanagala Plant, near Belgaum in Karnataka.
The product range will cover all sectors of women’s health viz., autoimmune
diseases, gynaecological infections and sexually transmitted diseases,
hormone-related disorders (including menopause, contraception and sexual
dysfunction), osteoporosis, cancer, and urinary bladder disorders.
HLL has commenced manufacture and distribution of ‘Nishchay’ Rapid
Diagnostic Test kits for the detection of Pregnancy in markets all over the
country. At the first instance HLL is manufacturing and supplying 22 million
Pregnancy Test Kits from its manufacturing facility at Manesar in Haryana. The
product will be distributed to the various sub centers, PHC, CHC, taluk
hospitals, district hospitals, General Hospitals, speciality hospitals etc. in
various states in the country. HLL also plans to introduce in the near
future Diagnostic kits for the detection of Malaria and Dengue fever and
Chikungunya. The overall objective is to effectively bring down the
infant/maternity mortality rate, and Malaria and Dengue mortality reduction.
HLL launched on 9th February, 2008 at New Delhi, HINDLABS - its first
Diagnostic centre in the country, a Public Private partnership venture with the
CGHS (Central Government Health Scheme). This most modern Lab facility which
was inaugurated by the Union Minister for Health and Family Welfare Dr.
Anbumani Ramadoss, will deliver reliable, accurate and quality diagnostic
services to the CGHS beneficiaries at CGHS rates. The same services will be
provided to patients outside the CGHS too at affordable rates. The plan ahead
is to establish Diagnostic Centres for the CGHS, in the National Capital Region
(NCR) and in 23 major cities of India covering over 110 hospitals.
Corporate Social
Responsibility
Hindustan Latex set up the Hindustan Latex Family Planning Promotion
Trust (HLFPPT) a not for profit organization, for the purpose of designing and
implementing social sector intervention projects, particularly in the area of
Reproductive Health, Women Empowerment and HIV prevention and control activities,
with the objective of creating planned social change. HLFPPT is today India’s
top social marketing organization.
HLFPPT programmes underway in AP, Bihar, Orissa, Jharkhand, Maharashtra and
Kerala are based on intense behaviour change communication based models. The
Trust also manages the largest social marketing programme in the country with a
rural coverage of over 30,000 villages, with population below 5000.
HLFPPT has been implementing the HIV AIDS Control Programme in partnership
with Bill and Melinda Gates Foundation, in nine districts of Coastal Andhra
Pradesh and partnering with NACO and State AIDS Control Societies in the states
of Kerala, AP, MP and Orissa. Condom promotion programmes are also being
implemented among the populations vulnerable to HIV in the states of
Maharashtra, AP and Kerala.
HLFPPT launched the Merrygold Health Service Network – A Public Private
Partnership for providing affordable and better health care for the poor on
August 23, 2007 in the highly populated state of Uttar Pradesh.
The Company is also on the forefront to extend assistance to Hospitals
and Schools in the city for improving their facilities- programmes it has been
undertaking as part of its community welfare initiatives. It is also assisting
in managing the Blood Bank run by the IMA in the city.
HLL is one of the principal organizations in the state that has been
extending assistance to various Educational, Cultural and Social organizations
for their various activities. HLL has provided for the citizens of Trivandrum a
Park at the heart of the city at Kowdiar, which has recreational facilities and
a Children’s Park.
Employee
Initiatives
The industrial relations scenario in all the Company’s Units have
been excellent and no man-days were lost on account of any industrial disputes.
Training and Development to enhance skill, knowledge and competency levels are
an ongoing process in the company.
Corporate Vision and Plans ahead
HLL has drawn up a comprehensive plan to expand its portfolio in the
area of Health Care and Contraceptives - its core areas, to achieve rapid
growth. The objective is to achieve through this process a turnover of Rs.1000
crores by 2010.
With nearly 1900 highly skilled and learned manpower, and several world
leaders as partners, HLL has over the past four decades stood to uphold its
mission to achieve and sustain a high growth path, and focus on five key thrust
areas to achieve its vision. These are - customers, employees, business,
innovation and social initiatives.
In the future, through technical collaborations, marketing alliances and
joint ventures, HLL wishes to keep alive the dream of all humanity - of a
healthier, happier world.
Production
Facility
HLL commenced its commercial operations on April 5, 1969 at Peroorkada
in Thiruvananthapuram in the state of Kerala. The Plant was established in
technical collaboration with M/s Okamoto Industries Inc. Japan.
Along with the manufacturing facility at Peroorkada in Thiruvananthapuram, HLL has today five state of
the art manufacturing facilities - at Akkulam in Thiruvananthapuram - manufacturing
Contraceptives and Health Care products, at Kanagala, near Belgaum (set up in 1985) - producing
contraceptives and Womens Health Pharma products, at Kakkanad
in Kochi (in the Special Economic Zone) - manufacturing Female Condoms, and at Manesar in
Haryana - for the production of In-Vitro Diagnostic Kits.
These Units have the ISO 9001, ISO 14001- quality and environmental
management system certifications. HLL’s Peroorkada Plant was also awarded the
OHSAS 18001 Certification for its efficient Occupational Health and Safety
Management System.
SAFETY, HEALTH AND
ENVIRONMENT (SHE) POLICY
Hindustan Latex Limited is committed to protect environment, eliminate
occupational hazards and ensure safety of employees and subcontractors through:
·
Monitoring and control of the impact of its activities, products and
services on a continual basis;
·
Compliance of applicable legal and other requirements;
·
Adopting appropriate operating practices;
·
Facilitating employee training and their involvement;
·
Pollution mitigation through adoption of best practices;
·
Conserving materials, energy and reducing waste at source, and /
encouraging usage of renewable energy sources;
·
Periodic review of safety, health and environment management system.
SHE Management
System Certifications
At Hindustan Latex Limited, they believe that preserving natural
resources and protecting the environment is the responsibility to the
employees, the customers and the communities in which they operate. They are
also committed to health and safety of the employees and as part of this
responsibility they have developed and are maintaining excellent environmental,
health, and safety management systems that meet the requirements of ISO 14001
and OHSAS 18001.
H L F P P T
Hindustan Latex Limited, a public sector company established more than
three decades ago, came to occupy a premier position in the country’s family
planning and health care programs. The company not only established itself as
the leader in the segment of manufacture of contraceptives, but also
diversified into manufacturing and marketing of other related health care products
. Social marketing became one of the key areas of the company to ensure that
quality contraceptives are available to the people at an affordable price at an
‘arms length of desire’.
Though the direct marketing operations of the company were doing very well,
over the years, the company realized that its social obligation being
paramount, the company could not look at profitability alone, which was however
being sustained through its exports and direct marketing. The company realized
the need for family planning and healthcare programs aimed at the poor and
disadvantaged sections of the society. Hindustan Latex Limited thus ventured
into social sector projects aimed at creating a planned social change. It was
with this objective that HLL formed the Hindustan Latex Family Planning
Promotion Trust, a non-profit organization promoted by HLL.
Since its establishment in 1992, HLFPPT has been undertaking the
conceptualization and implementation of various Social Sector Projects. The
Trust’s area of operations extends to the various states of India. Although the
Trust was established for promoting the agenda of family planning, the Trust’s
activities have now been broad based to focus on reproductive and sexual
health. The Trust is expected to develop into a major civil society participant
working in the health sector, in partnership with a range of development
actors.
The Hindustan Latex Family Planning Promotion Trust was established in
1992 under the Registration of Societies 12th Act of 1955 Travancore - Cochi
Literary Scientific, Charitable Societies Registration Act. The trust develops
and implements programs to encourage healthy behavior and to increase the
availability of health products and services at prices low-income people can
afford.
The objectives of
the Trust are the following
·
To conduct research studies in demography and other areas affecting the
health and welfare of people, especially in rural areas.
·
To assist voluntary organizations for mass communication, public
relations etc. in the area of health and family planning .
·
To establish research centers and other institutions to conduct study
classes, research studies in a scientific manner in the area of Family Planning
Programme, Contraceptives and all types of prophylactics and other health care
products.
·
To establish hospitals, family planning clinics, health centers for
popularization of family planning.
·
To involve people and voluntary organizations in implementation of
various family planning schemes and health programmes in rural and backward
areas.
·
To raise funds in furtherance of the objectives of the trust from the
public and/or financial institutions or such terms and conditions as may be
agreed by the board of trustees.
The Trust is working on the following major areas
·
Social marketing of health care products and social franchising of
reproductive health services.
·
Sexual health awareness and HIV/AIDS prevention and control.
·
Technical assistance and consultancy on reproductive health issues.
Competency of
HLFPPT
The social project planning and implementation, brand building
programmes, project consultancy, distribution and logistics management, local
media implementation and networking programmes and linkage development with
NGOs are major activities of HLFPPT. HLFPPT is currently implementing sexual
and reproductive health projects, HIV/AIDS targeted interventions, and IEC
projects funded by national and international development agencies like DFID,
USAID, SIFPSA, European commission and Govt. of India. The interventions are
directed at creating planned and sustained behavioral change for having small
and healthy families, healthy and safe sexual and reproductive health etc.
Press Release
04/09/2008
HLL C and MD, Sri M. Ayyappan signs the MOU for the setting up of a
Technology Business Incubation Centre at the Rajiv Gandhi Centre for
Biotechnology
The CandMD of Hindustan Latex (HLL), Sri M. Ayyappan signs the MOU for
the setting up of a Technology Business Incubation Centre at the Rajiv Gandhi
Centre for Biotechnology (RGCB), with Dr. Radhakrishna Pillai, Director of the
Centre on 4th September 2008 at a special function at the RGCB.
·
HLL C and MD, Sri M Ayyappan receives from the Hon’ble President of
India Smt. Pratibha Patil, the coveted Indira Gandhi National Rajbhasha Award
·
HLL C and MD, Sri M. Ayyappan signs the MOU with ILandFS CEO, CDI, Sri
A. K. Krishnakumar, for the development of its Integrated Medical Devices and
Diagnostic Manufacturing Park – MediPark
·
HLL C and MD, Sri M. Ayyappan exchanging the MOU signed with Dr. A. K.
Singhal, MD, M/s NNE Pharmaplan India Limited, for the setting up of the
Integrated Vaccine Complex.
·
HLL Chairman and Managing Director, Sri M. Ayyappan inaugurates the
second LifeSpring Hospital
·
Sri M. Ayyappan, Chairman and Managing Director, addressing a Press
Conference at Thiruvananthapuram, to announce the formation of LifeSpring
Hospitals (Private) Limited
|
Name of the company |
HINDUSTAN LATEX LIMITED |
||||||||||||||||||||||||
|
Presented By |
Mr. V. A. Sasidhara Nair |
||||||||||||||||||||||||
|
1) Date and description of instrument creating the change |
v Agreement dated 30.03.1994 to give credit facilities. v Joint deed of hypothecation dated 30.03.1994 v Deed of guarantee dated 30.03.1994 v Inter se agreement among SBI and PNB dated 30.03.1994 v Letter of Undertaking dated 30.03.1994 |
||||||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Total limit of Rs. 100 millions sanctioned by SBI Trivandrum
and PNB, Trivandrum on consortium basis. |
||||||||||||||||||||||||
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The whole of the current assets of Borrower namely stocks of raw materials, stock in process, semi finished goods, movable both present and future whether now lying loose or in cases or which are now lying or stored in or about or shall hereinafter from time to time during the continuance of the security of these presents be brought into or upon or be stored or be in or about of the borrowers factories, premises and godowns situated at Trivandrum in the State of Kerala, Kanagla in the State of Karnataka or else where in the country or aboard or wherever else the same may be or be held by any party to the order or disposition of the borrower or in the course of transit or on high seas or on or delivery howsoever or whosesoever in the possession of the borrowers and either by way of substitution of additions. |
||||||||||||||||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
First charge on the entire stock of company’s raw materials or those in process of manufacture and all articles manufactured therefore store in the company’s godown or premises at Perookkada Trivandrum and book debts and assets to be hold as security for cash credit advance to the extent of Rs. 100.000 Millions The company shall nor create mortgage charge lien report or over the stock in trade and raw materials or any part thereof except to the SBI Trivandrum nor suffer any such mortgage charge lien to effect the same or any part of thereof nor do or allow anything that may predict this security. Principal payable on demand SBI / PNB shall have pari passu charge on goods Hypothecation. Interest 1 % above SBAR interest 16 % p.a. Effective rate 16.5 % including interest tax. Margin : Bank Guarantee 100 % for disputed liabilities and 10 % for the other guarantees. Raw material 25 % Stock in process 35 % Finished goods 25 % Consumable stores 25 % Receivable – No drawing. |
||||||||||||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of India M G Road Trivandrum Punjab National Bank M G Road Trivandrum |
||||||||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
Memorandum agreement dated 06.07.2001 From C – 1 Agreement for hypothecation of goods and assets From C – 2 |
||||||||||||||||||||||||
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Memorandum of agreement dated 06.07.2001
Other terms and conditions of modification are as under : Term loan will be charged interest @ 13.5 p.a. Repayable as per schedule from August, 2001 The existing security were extended for the enhanced facilities as above. |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name of the company |
HINDUSTAN LATEX LIMITED |
||||||||||||||||||||||||
|
Presented By |
Mr. V. A. Sasidhara Nair |
||||||||||||||||||||||||
|
1) Date and description of instrument creating the change |
v Agreement dated 30.03.1994 to give credit facilities. v Joint deed of hypothecation dated 30.03.1994 v Deed of guarantee dated 30.03.1994 v Inter se agreement among SBI and PNB dated 30.03.1994 v Letter of Undertaking dated 30.03.1994 |
||||||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Total limit of Rs. 100 millions sanctioned by SBI
Trivandrum and PNB, Trivandrum on consortium basis. |
||||||||||||||||||||||||
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The whole of the current assets of Borrower namely stocks of raw materials, stock in process, semi finished goods, movable both present and future whether now lying loose or in cases or which are now lying or stored in or about or shall hereinafter from time to time during the continuance of the security of these presents be brought into or upon or be stored or be in or about of the borrowers factories, premises and godowns situated at Trivandrum in the State of Kerala, Kanagla in the State of Karnataka or else where in the country or aboard or wherever else the same may be or be held by any party to the order or disposition of the borrower or in the course of transit or on high seas or on or delivery howsoever or whosesoever in the possession of the borrowers and either by way of substitution of additions. |
||||||||||||||||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
First charge on the entire stock of company’s raw materials or those in process of manufacture and all articles manufactured therefore store in the company’s godown or premises at Perookkada Trivandrum and book debts and assets to be hold as security for cash credit advance to the extent of Rs. 100.000 Millions The company shall nor create mortgage charge lien report or over the stock in trade and raw materials or any part thereof except to the SBI Trivandrum nor suffer any such mortgage charge lien to effect the same or any part of thereof nor do or allow anything that may predict this security. Principal payable on demand SBI / PNB shall have pari passu charge on goods Hypothecation. Interest 1 % above SBAR interest 16 % p.a. Effective rate 16.5 % including interest tax. Margin : Bank Guarantee 100 % for disputed liabilities and 10 % for the other guarantees. Raw material 25 % Stock in process 35 % Finished goods 25 % Consumable stores 25 % Receivable – No drawing. |
||||||||||||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of India M G Road Trivandrum Punjab National Bank M G Road Trivandrum |
||||||||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
Letter form State bank of India reference DBBD dated 03.09.2002. |
||||||||||||||||||||||||
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Letter from SBI dated 03.09.2002 confirming the closing of the adhoc cash credit of Rs. 30 million availed on 19.11.2001 vide agreement dated 12.11.2001. |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.43 |
|
UK Pound |
1 |
Rs.85.68 |
|
Euro |
1 |
Rs.67.95 |
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 |
|