1. Summary Information
|
|
|
Country |
|
|
Company Name |
SHANTHA BIOTECHNICS LIMITED |
Principal Name 1 |
Mr. K I Varaprasad Reddy |
|
Status |
Good |
Principal Name 2 |
Mr. Khalil Ahmed |
|
|
|
Registration # |
01-15470 |
|
Street Address |
3rd and 4th Floors, H. No. 5-10-173, |
||
|
Established Date |
10.03.1993 |
SIC Code |
-- |
|
Telephone# |
91-40-23234104 / 23234105/ 23234136 |
Business Style 1 |
Manufacturing |
|
Fax # |
91-40-23234133 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Diagnostic Kits |
|
|
# of employees |
Around 300 |
Product Name 2 |
Streptokinase Injection |
|
Paid up capital |
Rs. 162,305,600/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings-96.43% Directors or relative of directors-3.44% Others-0.13% |
Banking |
IDBI Bank
Limited |
|
Public Limited Corp. |
NO |
Business Period |
18 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(50) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries |
|
Shantha West INC |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,180,463,000 |
Current Liabilities |
1,574,567,000 |
|
Inventories |
342,271,000 |
Long-term Liabilities |
609,185,000 |
|
Fixed Assets |
1,559,165,000 |
Other Liabilities |
117,019,000 |
|
Deferred Assets |
0 |
Total Liabilities |
2,300,771,000 |
|
Invest& other Assets |
1,042,183,000 |
Retained Earnings |
1,661,005,000 |
|
|
|
Net Worth |
1,823,311,000 |
|
Total Assets |
4,124,082,000 |
Total Liab. & Equity |
4,124,082,000 |
|
Total Assets (Previous Year) |
4,105,870,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
1,883,045,000 |
Net Profit |
(154,452,000) |
|
Sales(Previous yr) |
2025,605,000 |
Net Profit(Prev.yr) |
524,561,000 |
MIRA
INFORM REPORT
|
Report Date : |
26.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHANTHA BIOTECHNICS LIMITED |
|
|
|
|
Formally Known As : |
SHANTHA BIOTECHNICS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
3rd and 4th Floors, H. No. 5-10-173, Fateh Maidan
Road, Basheer Bagh, Hyderabad-500004,
Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
10.03.1993 |
|
|
|
|
Com. Reg. No.: |
01-015470 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24110AP1993PLC015470 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
HYDS07760E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAECS6982Q |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturing of Hepatitis B Vaccine, Alpha Interferon, and
Restriction Enzymes. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7200000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having fine track.
Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
3rd and 4th Floors, H. No. 5-10-173, Fateh
Maidan Road, Basheer Bagh, Hyderabad – 500 004, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23234104/ 23234105/ 23234136/ 66301000 |
|
Fax No.: |
91-40-23234133/ 23234103 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
8-2-334, Serene Chambers, 3rd Floor, Road No. 5,
Banjarahills, |
|
Tel. No.: |
91-40-23543010/
23548507/ 23608843 |
|
Fax No.: |
91-40-23548476 |
|
E-Mail : |
|
|
|
|
|
Factory : |
PB No.4, Medchal – 501401, R. R. District, |
|
Tel. No.: |
91-418-2222922 / 2222693 / 2222694 / 2222695 |
|
Fax No.: |
91-418-2222656 |
|
|
|
|
Regional Office
1 : |
208 Parkway Drive, |
|
Tel. No.: |
91-516-8593010 |
|
Fax No.: |
91-516-6263032 |
|
E-Mail : |
|
|
|
|
|
Regional Office
2 : |
|
|
Tel. No.: |
91-858-6589450 |
|
Fax No.: |
91-858-6589230 |
|
E-Mail : |
|
|
|
|
|
Branches : |
Located at: ·
G-1, Saikamala Nivas, Padmarao Nagar,
Secunderabad – 500 003, Andhra Pradesh Tel. 91-40-26211372 ·
3rd Floor, Serene Tel. 91-40-26502866 / 26502868 ·
Flat No. 101, Gayatri (West), Tel. 91-40-26570215 ·
203, Ridge Wood Residency (West), Maredpally,
Secunderabad – 500 026, Andhra Pradesh Tel. 91-40-26211285 ·
202, Maithri Nivas, B. S. Maktha, Begumpet, Tel. 91-40-26502867 ·
Survey No. 274, |
DIRECTORS
As On : 30.09.2010
|
Name : |
Mr. Koduru Iswara Varaprasad Reddy |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 822-A, Road No. 40, Jubilee Hills, |
|
Date of Birth/Age : |
30.06.1947 |
|
Date of Appointment : |
01.04.2007 |
|
DIN No : |
00196148 |
|
|
|
|
Name : |
Mr. Georges Hibon |
|
Designation : |
Chairman and Managing Director |
|
Address : |
3, Place Du Palaris Bourbon, |
|
Date of Birth/Age : |
03.11.1937 |
|
Date of Appointment : |
26.09.2007 |
|
DIN No : |
01865204 |
|
|
|
|
Name : |
Mr. Alain Merieux |
|
Designation : |
Director |
|
Address : |
Le Montellier, Meximieux – 01800, |
|
Date of Birth/Age : |
10.07.1938 |
|
Date of Appointment : |
26.09.2007 |
|
DIN No : |
01618157 |
|
|
|
|
Name : |
Mr. Johannes Burlin |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
24.11.1964 |
|
Date of Appointment : |
26.09.2007 |
|
Date of Ceasing : |
17.07.2009 |
|
|
|
|
Name : |
Mr. Abhey Yograj |
|
Designation : |
Director |
|
Address : |
N -94, |
|
Date of Birth/Age : |
01.09.1943 |
|
Date of Appointment : |
26.09.2007 |
|
DIN No : |
00029998 |
|
|
|
|
Name : |
Mrs. Koduru Sravanthi |
|
Designation : |
Director |
|
Address : |
C-3, Trendest Ville, 8-2-309/1 to 13, Road No. 3, Banjara
Hills, |
|
Date of Birth/Age : |
04.03.1978 |
|
Date of Appointment : |
26.09.2007 |
|
DIN No : |
01593189 |
|
|
|
|
Name : |
Mrs. Harsha Bangari |
|
Designation : |
Nominee Director (EXIM Bank) |
|
Address : |
1102, |
|
Date of Birth/Age : |
20.02.1970 |
|
Date of Appointment : |
13.07.2005 |
|
DIN No : |
01807838 |
|
|
|
|
Name : |
Mr. Dominique Takizawa |
|
Designation : |
Director |
|
Address : |
17, RUE Vaucanson, |
|
Date of Birth/Age : |
12.07.1956 |
|
Date of Appointment : |
17.07.2009 |
|
DIN No : |
02704660 |
|
|
|
|
Name : |
Mr. Philippe Archinard |
|
Designation : |
Director |
|
Address : |
47, RUE Profeddeur Deperet, Tassin La Demi Lune – 69160, |
|
Date of Birth/Age : |
21.11.1959 |
|
Date of Appointment : |
17.07.2009 |
|
DIN No : |
02707217 |
|
|
|
|
Name : |
Mr. LUC Gilbert Kuykens |
|
Designation : |
Director |
|
Address : |
1942, |
|
Date of Birth/Age : |
07.09.1960 |
|
Date of Appointment : |
03.09.2009 |
|
DIN No : |
02794403 |
|
|
|
|
Name : |
Mr. Dominique Carouge |
|
Designation : |
Director |
|
Address : |
75 RUE Cuvier, Lyon – 69006 |
|
Date of Birth/Age : |
17.03.1961 |
|
Date of Appointment : |
03.09.2009 |
|
DIN No : |
02782395 |
|
|
|
|
Name : |
Mr. Olivier Charmeil |
|
Designation : |
Director |
|
Address : |
75 RUE De Courcelles, |
|
Date of Birth/Age : |
19.02.1963 |
|
Date of Appointment : |
03.09.2009 |
|
DIN No : |
00370311 |
|
|
|
|
Name : |
Mr. Jacques Cholat |
|
Designation : |
Additional Director |
|
Address : |
30, RUE Chaziere Lyon 69004 |
|
Date of Birth/Age : |
27.09.1959 |
|
Date of Appointment : |
03.09.2009 |
|
DIN No : |
02782263 |
|
|
|
|
Name : |
Mr. Serge Falson |
|
Designation : |
Additional Director |
|
Address : |
19 T RUE DU Colombier LA Tour De Salvagny 69890 |
|
Date of Birth/Age : |
16.09.1955 |
|
Date of Appointment : |
03.09.2009 |
|
DIN No : |
02794394 |
|
|
|
|
Name : |
Mr. Michel Dewilde |
|
Designation : |
Additional director |
|
Address : |
126, |
|
Date of Birth/Age : |
20.07.1949 |
|
Date of Appointment : |
03.09.2009 |
|
DIN No : |
02792150 |
KEY EXECUTIVES
|
Name : |
Mr. N Rajasekar |
|
Designation : |
Senior Vice President (Finance ) and Company Secretary |
|
Address : |
105, Maitri Enclave, |
|
Date of Birth/Age : |
14.08.1961 |
|
Date of Appointment : |
23.04.2001 |
|
PAN No : |
ABKPN6370M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Thirupati Reddy Mallela, Jt.
Mrs. Prabhavathi Devi Mallela |
|
100 |
|
Archana Katti |
|
100 |
|
Kanuri Kavya |
|
100 |
|
Lubna |
|
185 |
|
Y Nagendra Prasad |
|
200 |
|
Dasari Anil Prabhu Kumar |
|
300 |
|
Vamsiraj R. Sanghamerddy |
|
500 |
|
B Venkateswar Reddy |
|
500 |
|
Gundepudi Venkata Ravi Shankar Phani |
|
500 |
|
Uppalapati Venkateshwara Rao |
|
500 |
|
Suresh Kumar Kimtee |
|
500 |
|
V Kesamma |
|
500 |
|
Nallapati Hari Hara Prasad |
|
1000 |
|
Narendra Reddy Thappeta |
|
1000 |
|
A Vijay Lakshmi |
|
1000 |
|
Artula Vijaya Lakshmi |
|
1000 |
|
D vijayasri |
|
1000 |
|
G Madhava Kumar |
|
800 |
|
Tummala Prabhavathi |
|
1000 |
|
Subbineni Annapurna |
|
1000 |
|
Potherddy Srinivasulu Reddy |
|
1000 |
|
Narayanben Mukundal Khiraiya Jt. Mukundlal Vallabhdas Khairaiya |
|
1000 |
|
Devi Prasad Malladi |
|
1000 |
|
Rajnikanth Lalji Tanna, Jt. Nirmala Rajnikanth Tanna |
|
1000 |
|
Nissar Ahmed |
|
1000 |
|
Siddareddy Venturu |
|
2000 |
|
G Srilatha |
|
200 |
|
G Ravichandran |
|
2500 |
|
Shankar N. Planjery |
|
3100 |
|
K. Sravanthi |
|
26000 |
|
K I Varaprasad Reddy |
|
532770 |
|
K Vasantha |
|
10 |
|
K Shanthamma |
|
10 |
|
N Sangeetha |
|
10 |
|
N Gautam Kumar |
|
10 |
|
J Sharath Reddy |
|
10 |
|
Sanofi Pasteru Merieux Sas |
|
15647155 |
|
Total |
|
16230560 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
96.43 |
|
Directors or relatives of directors |
|
3.44 |
|
Others |
|
0.13 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Hepatitis B Vaccine, Alpha Interferon, and Restriction
Enzymes. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
· Diagnostic Kits · Streptokinase
Injection
|
PRODUCTION STATUS (As On : 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Hepatltis B Vaccine |
Pediatric Dose |
200 |
200 |
37.83 |
|
Interferon Alpha |
vial |
2 |
2 |
0.07 |
|
Streptokinase |
Vial |
4 |
4 |
-- |
|
Erythropoietin |
Vial |
5 |
5 |
0.95 |
|
Combination Vaccine |
Pediatric Dose |
300 |
300 |
57.92 |
|
Diagnostic Kit for Hep –B |
Numbers |
0.5 |
0.5 |
-- |
GENERAL INFORMATION
|
No. of Employees : |
300 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
IDBI Bank Limited, #5-9-89/1 and 2, Chapel Road,
Hyderabad-500001, Andhra Pradesh, India ·
State Bank of India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Notes * Secured by a first pari passu charge on the movable and immovable
properties, both present and future and guaranteed by the Managing Director
and Executive Director. ** Secured by a first pari passu charge on Stock-in-trade and book
debts, both present and future and a second charge on the fixed assets.
Note : Amount due
within one year Rs.1950700 (31.03.2009 : Rs. 1950700) *Repayable in 10 installments beginning from April 2009 to April 2010. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
Coramandel, House, 1-2-10, |
|
|
|
|
Holding Company: |
·
Sanofi Pasteur Merieux SAS ·
Merieux Alliance |
|
|
|
|
Ultimate Holding Company : |
Sanofi Pasteru (From 1st September 2009) |
|
|
|
|
Subsidiaries : |
Shantha West Inc. |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22000000 |
Equity Shares |
Rs. 10/- each |
Rs. 220.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16230560 |
Equity Shares |
Rs. 10/- each |
Rs. 162.306
millions |
|
|
|
|
|
Notes : Of the above 9000000 shares were allocated as
fully paid up bonus share by capitalization of Share Premium of Rs. 20000000
and General Reserve of Rs. 70000000.
15447155 (31.03.2009 Nil) shares are held by
the Holding Company, Sanofi Pasteur Merieux SAS, France. The Holding Company is Sanofi
Pasteru France.
793360 (31.03.2009 : 793360) shares issued as consideration for purchase
of shares of Shantha West Inc.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
162.306 |
160.439 |
158.939 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1661.005 |
1802.106 |
1457.656 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1823.311 |
1962.545 |
1616.595 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
499.973 |
890.290 |
899.118 |
|
|
2] Unsecured Loans |
109.212 |
110.821 |
110.462 |
|
|
TOTAL BORROWING |
609.185 |
1001.111 |
1009.580 |
|
|
DEFERRED TAX LIABILITIES |
117.019 |
119.740 |
122.470 |
|
|
STOCK OPTIONS O/S |
0.000 |
5.379 |
4.744 |
|
|
|
|
|
|
|
|
TOTAL |
2549.515 |
3088.775 |
2753.389 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1559.165 |
1564.258 |
1070.100 |
|
|
Capital work-in-progress |
323.093 |
252.285 |
583.793 |
|
|
|
|
|
|
|
|
INVESTMENT |
719.090 |
719.090 |
719.090 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
342.271
|
375.914 |
323.367 |
|
|
Sundry Debtors |
232.021
|
543.404 |
238.548 |
|
|
Cash & Bank Balances |
650.933
|
139.052 |
11.069 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
297.509
|
143.027 |
113.818 |
|
Total
Current Assets |
1522.734
|
1201.397 |
686.802 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
311.089
|
335.332 |
250.265 |
|
|
Other Current Liabilities |
1091.084
|
33.508 |
47.225 |
|
|
Provisions |
172.394
|
279.415 |
56.427 |
|
Total
Current Liabilities |
1574.567
|
648.255 |
353.917 |
|
|
Net Current Assets |
(51.833)
|
553.142 |
332.885 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
PRODUCT DEVELOPMENT EXPENDITURE |
0.000 |
0.000 |
47.521 |
|
|
|
|
|
|
|
|
TOTAL |
2549.515 |
3088.775 |
2753.389 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1883.045 |
2025.605 |
1390.446 |
|
|
|
Income from Contract Services |
14.895 |
38.509 |
35.490 |
|
|
|
Other Income |
35.907 |
33.802 |
20.627 |
|
|
|
TOTAL (A) |
1933.847 |
2097.916 |
1446.563 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
1632.759 |
1345.656 |
1225.212 |
|
|
|
Product Recall Expenses and Related Chairs |
145.323 |
0.000 |
0.000 |
|
|
|
Increase/(Decrease) in Finished Goods |
118.515 |
(13.558) |
(105.630) |
|
|
|
Exceptional Items |
25.100 |
35.000 |
0.000 |
|
|
|
TOTAL (B) |
1921.697 |
1367.098 |
1119.582 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
12.150 |
730.818 |
326.981 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
66.790 |
87.383 |
51.118 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(54.640) |
643.435 |
275.863 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
102.503 |
83.998 |
76.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(157.143) |
559.437 |
199.862 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(2.691) |
34.876 |
0.083 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(154.452) |
524.561 |
199.779 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
585.030 |
308.175 |
133.974 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
60.000 |
20.000 |
|
|
|
Dividend |
0.000 |
160.439 |
4.768 |
|
|
|
Tax on Dividend |
0.000 |
27.267 |
0.810 |
|
|
BALANCE CARRIED
TO THE B/S |
430.578 |
585.030 |
308.175 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
1545.522 |
1745.840 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
76.556 |
34.023 |
28.403 |
|
|
|
Stores & Spares |
11.298 |
10.665 |
9.009 |
|
|
|
Capital Goods |
39.811 |
24.459 |
42.989 |
|
|
|
Others |
114.172 |
64.063 |
55.174 |
|
|
TOTAL IMPORTS |
241.837 |
133.210 |
135.575 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.56 |
32.88 |
13.03 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(7.99)
|
25.00
|
13.81
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(8.35)
|
27.62
|
14.37
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.10)
|
20.23
|
11.38
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.09)
|
0.29
|
0.12
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.26
|
0.84
|
0.84
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97
|
1.85
|
1.94
|
LOCAL AGENCY FURTHER INFORMATION
note:
The Registered Office of the company has been shifted from Plot No.
822A, Road No. 40, Jubilee Hills,
PERFORMANCE OF THE
COMPANY
The company has achieved a turnover of Rs.1897.900 millions during the
year 2009-10 compared to Rs. 2064.100 millions during the previous year. The
reduction is mainly due to sales return of about 8 million does of Shans from
UNICEF as per WHO/UNICEF directive. The recall of Shan5 from the UNICEF and
other market is on account of the presence of a white sedlment which sticks to
the glass of the vaccine vial that is difficult or impossible to re-suspend
with vigorous shaking (flocculation). Due to this the company’s turnover has
come down and the company has to end the year with loss of Rs. 157.100
millions.
Who has also removed the prequalification of Shan5 and Shantetra, the
vaccines containing pertusis component, though there have been no reports of
any side effects from the use of Shan5. The company is working on remediation
plans and is hopeful of getting the products prequalified by WHO in year 2012.
The products of the company are getting registered in various countries.
During the year 2009-10, the company has executed export orders mainly from
UNICEF, Thailand and other countries
During the year 2009-10, the company has launched Cholera vaccine in
Indian market.
FORM 8
|
Corporate
identity number of the company |
U24110AP1993PLC015470 |
|
Name of the
company |
Shantha Biotechnics Limited |
|
Address of the
registered office or of the principal place of business in |
3rd and 4th Floors, H. No. 5-10-173, Fateh
Maidan Road, Basheerbagh, Hyderabad – 500 004, Andhra Pradesh, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
IDBI Bank Limited, #5-9-89/1 and 2, Chapel Road, Hyderabad-500001, Andhra
Pradesh, India |
|
Nature of
instrument creating charge |
Supplemental Deed of Hypothecation |
|
Date of
instrument Creating the charge |
11.05.2010 |
|
Amount secured by
the charge |
Rs. 170.000 millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest No Changes In Terms And Conditions Terms of
repayment No Changes In Terms And Conditions Margin No Changes In Terms And Conditions |
|
Short particulars
of the property charged (Including location of the property) |
Primary
: first pari passu charge on the entire current assets of the company,
present And future, by way of hypothecation, ranking pari passu with other
Orking Capital Bankers under multiple banking Collateral
: paripassu 2nd charge on fixed assets of the company with other working
Capital bankers valued at Rs. 1653.900 millions as per audited balance sheet
as at 31.03.2008 |
|
Charge
identification number of the charge to be modified |
10133738 |
|
Particulars of
the present modification |
Existing limits are enhanced from Rs. 95.000 millions to
170.000 millions |
FIXED ASSETS
· Land
· Buildings
· Plant and Machinery
· Electrical Installations
· Furniture
· Vehicles
· Computer Software’s
AS PER
WEB DETAILS
History
The
genesis of Subject can be traced back to the initiatives of Dr. K I Varaprasad
Reddy, the Founder and Managing Director. Dr. Varaprasad, an electronics
engineer by profession, established the company in 1993 with the sole purpose
of developing efficacious but cost effective vaccines and therapeutics that are
within the reach of the common man.
The
seeds of this ambitious venture were sown in Geneva at a conference on global
programs for immunization. This is where Dr. Varaprasad first realized the
pressing need for an affordable Hepatitis-B vaccine for India. At that point in
time, the high cost of the imported vaccine rendered it out of reach for most
segments of society.
Aware that the price of the vaccine had to be drastically reduced in order for
the government of India to include it in the National Immunization Program, Dr.
Varaprasad decided to develop the technology in-house rather than importing it
at a higher cost. His early years in R&D had given him confidence in
scientific talent in and he was convinced that given a conducive atmosphere
they could put India on the map for Genetic Engineering.
The
initial years were tough. Banks and financial institutions viewed the project skeptically
and refused to fund the project. The project began modestly as an R&D
outfit at the Osmania University under the industry-university interactive
programme in 1993 and later at the Center for Cellular and Molecular Biology
(CCMB) until an independent R&D facility was built.
The
fledgling company received a big boost with the entry of H.E Yusuf Bin Alawi
Abdullah, Foreign Minister of Sultanate of Oman, who invested money in his
personal capacity along with other friends as co promoters in 1995. H.E also
arranged for long term loans from Oman International bank at low rates of
interest. The perseverance and hard work finally began to pay off. In 1997,
Shantha developed and commercialized India’s first r- DNA Hepatitis-B vaccine.
And there has been no looking back ever since.
Merieux
Alliance group, based in France had acquired majority stake in subject in
November, 2006.
Subject
has become a part of the Sanofi-Aventis group in July, 2009.
Sanofi-aventis, a leading global pharmaceutical company, discovers, develops
and distributes therapeutic solutions to improve the quality of life for the
public at large.. Sanofi-aventis is listed in Paris (EURONEXT: SAN) and in New
York (NYSE: SNY). Sanofi Pasteur, the vaccines division of sanofi-aventis
Group, provided more than 1.6 billion doses of vaccine in 2008, making it
possible to immunize more than 500 million people across the globe. A world
leader in the vaccine industry, Sanofi Pasteur offers the broadest range of
vaccines protecting against 20 infectious diseases. The company's heritage, to
create vaccines that protect life, dates back more than a century. Sanofi
Pasteur is the largest company entirely dedicated to vaccines. Every day, the
company invests more than EUR 1 million in research and development.
Company Overview
A pioneer in the field of biotechnology, subject is the
first Indian company to develop, manufacture and market a recombinant human
healthcare product (RDNA Hepatitis B vaccine) in India. We are committed
to breaking new ground in modern biotechnology to address critical healthcare
needs of the developing world.
Shantha is currently focusing on the development of vaccines
such as Recombinant, conventional, combos, conjugates, viral and newer delivery
systems.
SHANVAC- B is the first India-made Hepatitis-B vaccine to be
pre-qualified by WHO, Geneva, for supplying to UN agencies globally. Shantha
has also obtained WHO-Geneva Pre-qualification for Shan-TT vaccine, enabling
supplies to UN Agencies and Shanchol (Cholera Vaccine) is under process for
Pre-qualification.
Today Shantha caters to major international markets
including Asia-Pacific, Africa, CIS and Latin America in addition to supra
nations like UNICEF and PAHO.
A deep sense of commitment and a tradition of excellence
have characterized Shantha’s journey thus far and have placed it in the
forefront of exciting scientific ventures. However, there are still bigger
oceans to be crossed and farther shores to be reached.
PRESS RELEASE
Sanofi Pasteur strengthens vaccines
position in India through the control of Shantha Biotechnics via Mérieux
Alliance
Sanofi
Pasteur to pursue the development of Shantha Biotechnics as a platform for high
quality affordable vaccination
Shantha
to bring a state-of-the-art vaccine manufacturing facility in Hyderabad, India and an important
portfolio of new vaccines
Alain
Mérieux to chair a new Vaccine Strategic Committee of Sanofi Pasteur for Emerging Markets
Paris, France – July 27, 2009 - Sanofi-aventis (EURONEXT:
SAN and NYSE: SNY) and Mérieux Alliance announced today the signature of a strategic
agreement for the acquisition by Sanofi Pasteur of Mérieux Alliance’s French
subsidiary ShanH,
which owns a majority stake in vaccine company Shantha Biotechnics based in
Hyderabad, India. Alain Mérieux will chair the Board of ShanH and a new joint
committee will be created to be chaired by Alain Mérieux on vaccine strategy
for the Emerging Markets.
Under the terms of the agreement, Sanofi Pasteur, the
vaccines division of the sanofi-aventis Group, will support Shantha’s ongoing
development as a platform to address the need for high quality affordable
vaccination in international markets. Dr Varaprasad Reddy, the founder of
Shantha Biotechnics in 1993, will continue to lead the company as Managing
Director. The transaction, set to close before the end of the third quarter,
values Shantha at 550 million euros. For the current fiscal year, sales of
Shantha are expected to be around 90 million US dollars. Sales are expected to
grow significantly given the commercial resources of Sanofi Pasteur and through
the development and launch of Shantha’s pipeline of new vaccines.
Commenting on the agreement, Christopher A. Viehbacher,
Chief Executive Officer of sanofi-aventis said: “Shantha provides Sanofi Pasteur with a portfolio of new vaccines in
development which complement Sanofi Pasteur’s current vaccines, positioning the
company to accelerate its growth in strategically important emerging markets.
The state-of-the-art manufacturing facilities allow Sanofi Pasteur to gain high
quality capacity in order to enable us to provide important vaccines at
affordable prices to many people around the world. Our commitment to this
objective is highlighted by the creation of a new Strategic Committee which I
am delighted to announce will be chaired by Alain Mérieux”.
This agreement is a tribute to the common heritage of
Mérieux Alliance and Sanofi Pasteur, two companies originating from Institut
Mérieux, which was founded in 1897 by Marcel Mérieux, a student of Louis
Pasteur and Alain Mérieux’s grandfather.
Commenting on the agreement, Alain Mérieux, Chairman of
Mérieux Alliance said: “During the
last three years, we have, together with Dr. Varaprasad Reddy, Shantha’s
founder, significantly developed the company. We have in particular refocused
its activity on vaccines and strengthened its range of products, especially by
successfully launching a pentavalent pediatric vaccine as well as a Cholera
vaccine. We have built up a portfolio of new products which are today in
development: Rotavirus vaccine, Conjugated Typhoid vaccine, and HPV vaccine.
This evolution was rolled out
respecting Shantha’s philosophy to provide developing countries with
international quality level products at an accessible price. Shantha’s future
development necessitates support from a major international vaccine company.
This agreement gives me the opportunity to reconnect with Sanofi Pasteur, a
company to which I am historically attached. I am also pleased to remain
involved -together with Dr. Varaprasad Reddy- in the group’s strategy in the
domain of preventive medicine and of human vaccines tailored to the countries
of the South”.
Shantha
was created in 1993 by Dr. Varaprasad Reddy and is based in
Shantha works with supranational organizations like UNICEF and
PAHO to
supply major international markets including Asia-Pacific, Africa and
ABOUT SANOFI-AVENTIS
Sanofi-aventis, a leading global pharmaceutical company,
discovers, develops and distributes therapeutic solutions to improve the lives
of everyone. Sanofi-aventis is listed in
Sanofi Pasteur, the vaccines division of sanofi-aventis
Group, provided more than 1.6 billion doses of vaccine in 2008, making it
possible to immunize more than 500 million people across the globe. A world
leader in the vaccine industry, Sanofi Pasteur offers the broadest range of
vaccines protecting against 20 infectious diseases. The company's heritage, to
create vaccines that protect life, dates back more than a century. Sanofi
Pasteur is the largest company entirely dedicated to vaccines. Every day, the
company invests more than EUR 1 million in research and development. For more
information, please visit: www.sanofipasteur.com
or www.sanofipasteur.us
ABOUT MÉRIEUX
Drawing on a long tradition an
Mérieux Alliance comprises five companies dedicated to
public health that span the full range of healthcare: prevention, diagnosis,
prognosis, treatment and clinical follow-up:
·
BioMérieux, based in Marcy l’Etoile (
·
Silliker, based in Chicago (US), which is 89%-controlled. A network
of food testing and consulting laboratories;
·
Shantha Biotechnics Limited, based in
·
Transgene, based in
·
ABL Inc (Advanced BioScience Laboratories),
based in Washington D.C. (US), which is 100%-owned. specialized in virological
research.
Under the leadership of Alain Mérieux, 10,000 people
worldwide are part of Mérieux Alliance. The group achieved consolidate
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international anti-terrorism
laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.45 |
|
|
1 |
Rs.73.35 |
|
Euro |
1 |
Rs.64.78 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
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 |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.