1. Summary Information
|
|
|
Country |
|
|
Company Name |
UNICHEM LABORATORIES LIMITED |
Principal Name 1 |
Mr. Prafull
Anubhai |
|
Status |
Good |
Principal Name 2 |
Mr. Ramdas Gandhi |
|
|
|
Registration # |
11-12451 |
|
Street Address |
Unichem Bhavan,
Prabhat Estate, Off |
||
|
Established Date |
22.08.1962 |
SIC Code |
-- |
|
Telephone# |
91-22-26780643 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-26784391 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Rifampicin
Formulations |
|
|
# of employees |
3600 (Approximately) |
Product Name 2 |
Losartan
Potassium in Tablets |
|
Paid up capital |
RS. 180,479,000/- |
Product Name 3 |
Alprazolam in
Tablets |
|
Shareholders |
shareholding of
Promoter and Promoter Group – 49.25% Public
shareholding – 50.75% |
Banking |
Bank of |
|
Public Limited Corp. |
Yes |
Business Period |
49 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
A (63) |
|
Related Company |
|||
|
Relation |
Country |
Company Name |
CEO |
|
Subsidiaries
: |
-- |
Niche Generics Limited |
-- |
|
Note |
- |
||
2. Summary Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,453,318,000 |
Current Liabilities |
1,327,746,000 |
|
Inventories |
1,354,183,000 |
Long-term Liabilities |
304,468,000 |
|
Fixed Assets |
3,556,443,000 |
Other Liabilities |
744,139,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
23,76,353,000 |
|
Invest& other Assets |
1,792,648,000 |
Retained Earnings |
6,599,760,000 |
|
|
|
Net Worth |
6,780,239,000 |
|
Total Assets |
9,156,592,000 |
Total Liab. & Equity |
9,156,592,000 |
|
Total
Assets (Previous Year) |
8,287,024,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
7,647,374,000 |
Net Profit |
1,087,130,000 |
|
Sales(Previous yr) |
6,905,967,000 |
Net Profit(Prev.yr) |
1,336,266,000 |
MIRA
INFORM REPORT
|
Report Date : |
28.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
UNICHEM LABORATORIES LIMITED |
|
|
|
|
Registered
Office : |
Unichem Bhavan, Prabhat Estate, Off |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation
: |
22.08.1962 |
|
|
|
|
Com. Reg. No.: |
11-12451 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 180.479 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1962PLC012451 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PNEU05493F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU0551B |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer and Sale of Pharmaceutical Products such as formulations
in forms of Tablets/ Capsules, Syrups, Injections, Eyemides, Ointments and
Power, Transfusions, Protein Foods, Bulk Drugs and Chemicals. |
|
|
|
|
No. of Employees
: |
3600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 27120000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a
well-established and reputed company in pharmaceutical industry. Available information indicates high
financial responsibility of the company.
Financial position of the company is good. Business is active. The company’s payments are always correct
and as per commitments. The company can
be considered good for any normal business dealings. It can be regarded as a promising business
partner in a long-run. |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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/ Corporate Office : |
Unichem Bhavan, Prabhat Estate, Off |
|
Tel. No.: |
91-22-26780643 / 66888333 / 26785616 |
|
Fax No.: |
91-22-26784391/ 26794089 / 26788665 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Mahalaxmi Chambers, 2nd Floor, |
|
|
|
|
Factory 1: |
Plot No. 17 and
18, Pilerne Industrial Estate, Pilerne Bardez, Goa – 403515, |
|
Tel. No.: |
91-832-2407202-6 |
|
|
|
|
Factory 2 |
Bhatauli Kalan District, Solan, Baddi – 173 205, |
|
Tel. No.: |
91-1795-246701-6 |
|
|
|
|
Factory 3 : |
C-31-32,
Industrial Area, |
|
Tel. No.: |
91-120-2750039-46 |
|
|
|
|
Factory 4: |
99, MIDC Area,
Roha, District Raigad – 402116, |
|
Tel. No.: |
91-2194-263561/263549 |
|
|
|
|
Factory 5 : |
Pithampur, Plot
No 197, Sector – I, Pithampur –454775, MP, |
|
Tel. No.: |
91-729 -2503127/ 2500941 |
|
|
|
|
Factory 6: |
NH – 31A, Bagheykhola, Majithar, Rangpo, |
|
|
|
|
Research and
Development Centers : |
MUMBAI Unichem
Bhavan.Prabhat Estate, Off Unichem
Bioscience R&D Center, SID, Indian Institute of Science, Pilerne
Industrial Estate Pilerne, Bardez, Goa - 403 515, |
|
|
|
|
Subsidiaries
Locations : |
Niche
Generics Limited, U.K 1, The
Cam Centre, Ph No:
+44(0)1462 633804 Unichem Pharmaceuticals USA, Inc 201, Ph No:
001-201-2260240 Fax No.:
001-201-2260241 Unichem Farmaceutica Do Avenida
Sete De Setembro 1564, CEP – 09912-010 Diadema- Ph No:
+55 11 38457025 Fax No.:
+55 11 38457114 Unichem S.A (Pty) Ltd. ( Adrina
Building , 1st Floor, 32-34, Klinkenberg Road, Van Der Hoff Park,
Potchefstroom, USAP.O.Box – 20434, Noordbrug Ph No.:
(2718)- 2974055/0823361954 Fax : (+2718)
– 2974059 |
|
|
|
|
Representative/
Overseas Office : |
·
Unichem Laboratories Limited, Saint Bolshaya
Yakimanka, Hno 31/18, Tel. No. :
007-499-2302380 Country Head – Mr
Pundari Baba E-Mail : unichemindia@col.ru ·
Unichem Laboratories Limited, 8, Strutinskogo ,
Apartment No.15, Tel No. / Fax :
00-380-445024550 00-380-445024590 Cell :
00-380-67-2304247 Email: rajithputhen@unichem.com.ua ·
Tel: 00-233-21-684183/665625(FAX) Country Business Executive Narendra Kumar |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. Prafull
Anubhai |
|
Designation : |
Chairman cum
Managing Director |
|
|
|
|
Name : |
Mr. Ramdas Gandhi |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Nasser Munjee |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Prakash A.
Mody |
|
Designation : |
Chairman and
Managing Director |
|
|
|
|
Name : |
Mr. Prafull Sheth |
|
Designation : |
Chairman and
Managing Director |
KEY EXECUTIVES
|
Audit Committee : |
·
Prafull
Anubhai - Chairman ·
Ramdas
Gandhi ·
Nasser
Munjee |
|
|
|
|
Shareholders’ : |
·
Ramdas
Gandhi - Chairman |
|
|
·
|
|
Grievance Committee : |
·
Dr.
Prakash A. Mody |
|
|
·
|
|
Compensation Committee : |
·
Prafull
D. Sheth - Chairman ·
Prafull
Anubhai ·
Ramdas
Gandhi |
|
|
|
|
Name : |
Rakesh Parikh |
|
Designation : |
Vice President
Finance |
|
|
|
|
Name : |
K. Subharaman |
|
Designation : |
Vice President – Legal
and Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
15917648 |
17.63 |
|
|
28293991 |
31.33 |
|
|
|
|
|
|
260680 |
0.28 |
|
|
44472319 |
49.25 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
44472319 |
49.25 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
5976186 |
6.62 |
|
|
49132 |
0.05 |
|
|
3016978 |
3.34 |
|
|
5669026 |
6.28 |
|
|
|
|
|
|
500 |
0.00 |
|
|
14711822 |
16.29 |
|
|
|
|
|
|
6861685 |
7.60 |
|
|
|
|
|
|
18418405 |
20.40 |
|
|
3096439 |
3.43 |
|
|
|
|
|
|
967095 |
1.07 |
|
|
115417 |
0.13 |
|
|
688611 |
0.76 |
|
|
21905 |
0.02 |
|
|
933741 |
1.03 |
|
|
16250 |
0.02 |
|
|
31119548 |
34.46 |
|
Total Public shareholding (B) |
45831370 |
50.75 |
|
Total (A)+(B) |
90303689 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
Total (A)+(B)+(C) |
90303689 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
TrustsBUSINESS DETAILS
|
Line of Business : |
Manufacturer and Sale of Pharmaceutical Products such as formulations
in forms of Tablets/ Capsules, Syrups, Injections, Eyemides, Ointments and
Power, Transfusions, Protein Foods, Bulk Drugs and Chemicals. |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Products : |
|
PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Tablets/Capsules |
No. in Lacs |
58070 |
28903 |
|
Syrups |
Litres |
960000 |
83293 |
|
Injections |
Litres |
90000 |
5515 |
|
Eyemides,
Ointments and Dry and sterile powder |
Kilograms |
197520 |
64880 |
|
Bulk Drugs and
Chemicals |
Kilograms |
731074 |
467837 |
GENERAL INFORMATION
|
No. of Employees : |
3600 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Bank
of ·
The
Sakura Bank Limited |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B D Jokhakar and Company Chartered Accountant |
|
Address : |
8 Ambalal Doshi Marg, Fort, Mumbai – 400001, |
|
|
|
|
Subsidiaries of the Company: |
·
Niche
Generics Limited ·
Unichem
SA Private Limited ·
Unichem
Farmaceutica Do ·
Brasil
Limited ·
Unichem
Pharmaceuticals ·
( |
|
|
|
|
Enterprises under significant influence of key management personnel: |
·
Chevy
Capital Services Private Limited ·
PM
Capital Services Private Limited ·
AVM
Capital Services Private Limited ·
Pranit
Trading Private Limited ·
Viramrut
Trading Private Limited |
CAPITAL STRUCTURE
As on 28.07.2011
Authorised Capital of Rs.500.000 Millions
Issued, Subcribed and Paid up Capital of Rs.180.638 Millions
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
175000000 |
Equity Shares |
Rs.2/- each |
Rs. 350.000 Millions |
|
50000000 |
Unclassified Shares |
Rs.2/- each |
Rs. 100.000 Millions |
|
5000000 |
Preference Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
TOTAL |
|
Rs. 500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
90239500 |
Equity Shares |
Rs.2/- each |
Rs. 180.479
Millions |
|
|
|
|
|
Notes:
1) 450000 Equity Shares of Rs5/- each allotted as fully paid up pursuant to a contract without payment being received in cash
2) 29390000 Equity Shares of Rs.5/- each issued as bonus Shares by Capitalization of General Reserve
3) 1330000 Equity Shares of Rs.5/- each allotted pursuant to the scheme of Amalgamation of Unisearch Limited and Unichem Exports Limited with the Company without payment being received in cash.
4) Outstanding Employees' stock option exercisable into 691000 Equity shares of Rs.2/- each; (Previous year 339500 Equity of Rs.5/-each share)
(*Persuant to resolution passed in AGM held on 16.09.2010, nominal value of the Shares is sub divided into Rs.2/- per share w.e.f 23.10.2010 )
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
180.479 |
180.315 |
180.275 |
|
|
2] Share Application Money |
0.000 |
0.264 |
0.000 |
|
|
3] Reserves & Surplus |
6599.760 |
5926.129 |
5019.327 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6780.239 |
6106.708 |
5199.602 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
77.312 |
24.808 |
67.478 |
|
|
2] Unsecured Loans |
227.156 |
204.835 |
187.841 |
|
|
TOTAL BORROWING |
304.468 |
229.643 |
255.319 |
|
|
DEFERRED TAX LIABILITIES |
378.143 |
346.843 |
323.643 |
|
|
|
|
|
|
|
|
TOTAL |
7462.850 |
6683.194 |
5778.564 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3556.443 |
3149.207 |
2801.115 |
|
|
Capital work-in-progress |
791.213 |
636.308 |
759.294 |
|
|
|
|
|
|
|
|
INVESTMENT |
1001.435 |
1283.144 |
608.103 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1354.183
|
976.413
|
920.668 |
|
|
Sundry Debtors |
1845.093
|
1624.344
|
1362.087 |
|
|
Cash & Bank Balances |
104.412
|
190.640
|
295.777 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
503.813
|
426.968
|
343.878 |
|
Total
Current Assets |
3807.501
|
3218.365 |
2922.410 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1203.815
|
1134.041
|
910.771 |
|
|
Other Current Liabilities |
123.931
|
113.400
|
109.261 |
|
|
Provisions |
365.996
|
356.389
|
292.326 |
|
Total
Current Liabilities |
1693.742
|
1603.830 |
1312.358 |
|
|
Net Current Assets |
2113.759
|
1614.535
|
1610.052 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7462.850 |
6683.194 |
5778.564 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from Operation |
7647.374 |
6905.967 |
6568.666 |
|
|
|
Other Income |
66.022 |
65.836 |
104.992 |
|
|
|
TOTAL (A) |
7713.396 |
6971.803 |
6673.658 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing, Selling and
Administrative Expenses |
5665.475 |
4843.653 |
4792.206 |
|
|
|
Research and Development Expenses |
366.832 |
267.802 |
234.920 |
|
|
|
TOTAL (B) |
6032.307 |
5111.455 |
5027.126 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1681.089 |
1860.348 |
1646.532 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.882 |
5.097 |
6.398 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1675.207 |
1855.251 |
1640.134 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
272.177 |
214.685 |
199.238 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1403.030 |
1640.566 |
1440.896 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
315.900 |
304.300 |
192.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1087.130 |
1336.266 |
1248.896 |
|
|
|
|
|
|
|
|
|
Less/ Add |
Prior Period
Items |
(0.131) |
(0.086) |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
Excess/Short
Provision for Taxation pertaining to previous year |
(2.021) |
3.263 |
(1.381) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3909.169 |
3140.711 |
2380.629 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
252.671 |
0.000 |
180.283 |
|
|
|
Interim Dividend |
108.283 |
360.665 |
108.134 |
|
|
|
Tax on Proposed Dividend |
40.989 |
0.000 |
30.639 |
|
|
|
Tax on Interim Dividend |
17.984 |
60.320 |
18.377 |
|
|
|
Transfer to General Reserve |
150.000 |
150.000 |
150.000 |
|
|
BALANCE CARRIED
TO THE B/S |
4424.220 |
3909.169 |
3140.711 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Goods calculated on FOB Basis |
1458.551 |
1231.823 |
1366.488 |
|
|
|
Other |
46.060 |
29.501 |
35.238 |
|
|
TOTAL EARNINGS |
1504.611 |
1261.324 |
1401.726 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
310.674 |
200.104 |
250.367 |
|
|
|
Packing Materials |
14.541 |
1.351 |
7.889 |
|
|
|
Stores & Spares |
6.129 |
0.778 |
0.858 |
|
|
|
Capital Goods |
192.768 |
12.962 |
40.695 |
|
|
TOTAL IMPORTS |
524.112 |
215.195 |
299.809 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
12.03 |
14.86 |
34.61 |
|
|
|
Diluted |
11.95 |
14.77 |
34.59 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
|
30.06.2011 (1st
Quarter) |
30.09.2011 (2nd
Quarter) |
|
Net Sales |
|
1887.490 |
1988.390 |
|
Total Expenditure |
|
1618.030 |
1683.710 |
|
PBIDT (Excl OI) |
|
269.460 |
304.680 |
|
Other Income |
|
15.210 |
26.930 |
|
Operating Profit |
|
284.670 |
331.610 |
|
Interest |
|
1.720 |
2.300 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
282.950 |
329.310 |
|
Depreciation |
|
6.740 |
39.070 |
|
Profit Before Tax |
|
215.550 |
260.250 |
|
Tax |
|
59.370 |
68.830 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
156.180 |
191.420 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
156.180 |
191.420 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
14.22
|
19.17
|
18.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.35
|
23.76
|
21.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.05
|
25.76
|
25.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.27
|
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.29
|
0.30
|
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.25
|
2.01
|
2.23 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL
HIGHLIGHTS
REVIEW OF OPERATIONS
During the year Sales / Income from operations (Net) increased to Rs.7647.374 millions in 2010-11 from Rs.6905.967 millions in 2009-10, registering a growth of 10.74 %. Consolidated Sales / Income from operations (Net) stood at Rs.8240.381 millions as compared to Rs.7473.860 millions registering an increase of 10.26%.
BUSINESS
DESCRIPTION
Subject is engaged in the business of pharmaceuticals. The
Company manufactures a range of formulations. The Company addresses therapeutic
areas, which includes cardiac care, anti- diabetics, neuro-psychiatry,
gastroenterologicals, anti- infectives, dermatology and nutraceuticals amongst
others. During the fiscal year ended March 31, 2011, the Company launched 22
new brands in various therapeutic segments four new brands were launched in
cardiac care three in Dermatology, and two in neuro- psychiatry amongst others.
The Company’s brand portfolio includes brands, such as Losar, Ampoxin, Trika,
Olsar, TG-Tor, Unienzyme and Metride. The Company focuses on the active
pharmaceutical ingredients (API) business. The Company has made 527 valid
product registrations across the world and more than 300 regulatory filings.
For the fiscal year ended 31 March 2010, Subject revenues increased 1% to
RS7.54B. Net income increased 14% to RS1.23B. Revenue reflects an increase in
sales of pharmaceutical products within
MANAGEMENT'S
DISCUSSION AND ANALYSIS
GLOBAL PHARMA MARKET
The global pharmaceutical market is undergoing rapid transformation. As blockbuster drugs come off patent, there are fewer new chemical and biological entities in the pipeline to replace them. This is the outcome of declining R and D productivity and rising regulatory costs.
As per the IMS Health forecast, divergent growth rates are
expected for developed and emerging markets in the year 2011. The emerging
markets are forecasted to grow at a 15-17% in 2011, to US$170-180 billion. Many
of these markets are benefiting from greater government spending on healthcare
and broader public and private healthcare funding, which is driving greater
demand and access to medicines.
In 2011, products with sales of more than $30 billion are expected to face the prospect of generic competition in the major developed markets. The full impact of patients shifting to lower-cost generic alternatives for these products, as well as other brands in their therapy classes, mostly will be felt in 2012, due to the timing and expected competitive intensity among generic entrants.
The IMS Institute for Healthcare Informatics reported that
global spending for medicines will reach nearly $1.1 trillion by 2015,
reflecting a slowing compound annual growth rate of 3-6 percent over the next
five years. This compares with 6.2 percent annual growth over the past five
years. Lower levels of spending growth for medicines in the
The Indian pharmaceutical industry currently ranks 3rd
in terms of volume of production (10% of global share) and 14th by value.
Exports of pharmaceuticals have consistently outstripped imports.
One of the drivers behind this potential growth expectation
is that
The Indian Domestic Pharma industry is witnessing trends such as acquisition activity, increased sales and marketing investment by domestic players, deeper penetration into the tier Ito tier VI and rural markets, and growth in insurance coverage and innovation in healthcare delivery. Taken together, these trends are leading to increased affordability of services to patients and access to quality medical care. These trends, along with the favorable macro environment will propel the industry to the next level of growth.
The report highlights that presently around 67% of
UNICHEM’S PERFORMANCE
Financial Highlights
Consolidated Sales / Income from operations (Net) stood at Rs.240.381 millions as compared to Rs.7473.860 millions in the previous financial year registering an increase of 10.26%.
Standalone Sales / Income from operations (Net) stood at Rs.7647.374
millions as compared to Rs.6905.967 millions in the previous financial year
registering an increase of 10.74%.
International Sales clocked a turnover of Rs.1656.567 millions as
compared to Rs.1315.412 millions registering an increase of 25.94% over the
previous year on standalone basis.
Other Highlights
- USFDA
re-certification of Goa Plant and Roha Plant
- Sikkim Plant
and Baddi — Cephalosporin plant commissioned
- Modernization
of Betalactum Plant –Baddi
- Construction
of SEZ unit in
Sales/ Income from operations (Net) for the year stood at Rs.7647.374
millions as compared to Rs.6905.967 millions recorded last year. Out of this,
Formulations contributed 90.7% with Active Pharmaceutical Ingredients (APIs)
contributing 9.3%. The Company has strong skills in product development, process chemistry
and manufacturing of complex API as well as dosage forms. The Company is
represented in 249 sub-segments out of the total 1,380 market sub-segments. In
represented (covered) market, subject Laboratories is one of the top 10
companies in The Indian Pharma market. Further, the Company has strong presence
in niche therapy areas of cardiology, neurology, and anti-infective.
During FY10, the Company continued its transformation initiatives to
restore momentum to its core business of domestic formulations. These included
portfolio prioritization and sales force alignment to improve the coverage of
the existing portfolio, and strengthening a second tier of power brands.
The Company is also looking at the therapeutic areas where it is
currently not present like gynecology and hospital segments. These could be the future
growth drivers.
The Company has made huge investments in manufacturing assets. The
Company intends to sweat the assets more by entering into long term contractual
supplies with global pharmaceutical companies.
FORMULATIONS
Unichem manufactures a wide range of formulations. Formulations business
continues to be a major contributor to the revenues of the Company. The key
therapeutic areas addressed include Cardiac care, Anti- diabetics,
Neuro-psychiatry, Gastroenterological, Anti-infective, Dermatology and
Nutraceuticals amongst others. Subject brands hold leadership positions in
Subject formulations are spread across various therapeutic classes as
depicted in Graph 1. The segmental performance is given as percentage of total
sales IMS MAT - March 2011. Cardiology continues to be the thrust segment for
the Company and has contributed approx. 46% of the domestic formulations sales
in the year 2010-11. In cardiac market, Subject jumped to 4” position this year
from 6th position last year, thus adding the highest incremental
value as per IMS. Subject is the undisputed leader in ARB segment of cardiac
market. The market for cardiovascular and diabetic ailments is expected to
double from the current level by the year 2015.
POWER BRANDS
The Company’s brand portfolio includes key brands such as Losar, Ampoxin,
Trika, Olsar, TG-Tor, Unienzyme and Metride. The Company has strategies in
place to grow its brands in the chronic segments at a rapid rate. Three of our
brands feature amongst the top 100 and five amongst the top 300 brands of
Indian Pharma as per IMS. The Company is taking efforts to strengthen its
second tier power brands by leveraging the brand equity of its flagship brands
and increasing its market reach.
NEW PRODUCT
LAUNCHES
The Company has launched 22 new brands in various therapeutic segments.
4 new brands were launched in Cardiac Care, 3 in Dermatology and 2 in
Neuropsychiatry amongst others.
FORMULATIONS SALES
INTERNATIONALLY
The Company has presence in over 20 countries across the five
continents. Subject has four wholly owned subsidiaries in
ACTIVE
PHARMACEUTICAL INGREDIENTS (API)
Subject APIs and Intermediates are marketed both in the domestic as well
as international regulated markets. The objective of our API business is to
contribute to the business performance of the Company through the marketing of
APIs globally and to capture the Contractual Supplies opportunities in the API
— Drug Intermediate’s business. Moreover, it also provides necessary vertical
integration to our Formulations business.
INTERNATIONAL
BUSINESS
Subject is improving its success in international markets by way of new
product launches, scientific CMEs and key doctor CRM activities. Their sales
and managerial force is working to achieve higher market share as well as
customer mind-share in their respective territories. In recent times, we
executed various customer-focused activities to propel divisional growth.
The Company continues to focus on high value added generics. The Company
is also leveraging its manufacturing strengths to become partner of choice for
supply of quality generic products.
The Company has made 527 valid product registrations across the world
and more than 300 regulatory filings such as DMFs, EDMFs, etc. It has filed 17
US ANDAs, of which 9 have been approved and many more are various stages of
development. Subject has already launched five products in the
RESEARCH
AND DEVELOPMENT
R and D continue to be the focus area in view of the generic market
opportunities. The Company relies upon energetic, resourceful and competent R
and D function supporting existing products.
With more than 247 personnel engaged in the Chemical R and D, Analytical
R and D and Product Technology Development Centres [PTDC] in Mumbai and Goa and
Bio Science Research Centre in
The PTDC facility has a team of highly result-oriented scientists
leading the research efforts with expertise in wide range of areas including
NCEs. It is a self-contained product development laboratory that meets current
Good Manufacturing Practice (cGMP) requirements. It is fully equipped to
conduct pre-formulation studies, prototype development, scale-up and
optimization and technology transfer of oral solid dosage forms. In addition,
the PTDC has the capability to develop a platform technology whereby different
molecules can be processed for their controlled rate of release. With an ideal
synergy of high- end technology and superior expertise, PTDC is set play a
pivotal role in Subject R and D efforts.
The Product Technology Development Centre in Mumbai has state of the art
laboratory with capacity of developing novel drug delivery systems, platform
therapeutic systems and other novel technologies. The Centre already conducting
contract research for generic product development for regulated markets such as
US,
CONTINGENT
LIABILITIES
|
Particulars |
31.03.2011 |
31.03.2010 |
|
(i) Claims not acknowledged as debts*. |
68.403 |
58.203 |
|
(ii) In respect of the Guarantees given to Bank on behalf
of : |
|
|
|
- Subsidiaries |
253.560 |
121.420 |
|
- Others |
21.806 |
16.967 |
|
(iii) Letters of Credit |
51.844 |
14.075 |
|
TOTAL |
395.613 |
210.667 |
* includes Rs.8.820 millions (Previous Year Rs.9.127
millions) paid under protest/deposit pending adjudication.
Claims made by the employees whose services have been terminated are not acknowledged as debts, the exact liability, whereof is not ascertainable
FIXED ASSETS
·
Freehold
·
Leasehold
·
Buildings
·
Plant and Machinery
·
Furniture Fixtures and Equipments
·
Cars and Vehicles
·
Patents and Trademarks
WEBSITE DETAILS:
PROFILE:
Promoted by a pioneer of the Indian pharmaceuticals
business, Mr. Amrut Mody, Unichem Laboratories has grown to become one of
With formulations forming the core of company business, the
company also manufactures active pharmaceutical ingredients (APIs or bulk
actives). In addition, it has several pharma products that address relevant and
growing therapeutic areas like gastroenterology, cardiology, diabetology,
psychiatry, neurology, anti-bacterials, anti-infectives and pain management
among others.
International Accreditations
Backed by a highly capable and motivated team of nearly 3000
people, company is headquartered in
Research AND Development – The next
frontier
The company has taken several important strides in the critical
area of pharmaceuticals Research and Development (R&D). It has expanded its
R&D facility in Mumbai to spearhead research in Novel Drug Delivery Systems
(NDDS) and chemically synthesize non-infringing routes for the manufacture of
medical products directed at regulated markets. In its effort to drive
innovation, Unichem has established a proprietary Pharma Technology Development
Centre in Goa to focus on the development of generic formulations comprising
Immediate Release as well as NDDS and ANDAs exclusively for the
With a robust business model, seamless processes and
innovative research, company is positioned to take on challenges of the future
while remaining firmly rooted in a solid foundation of values.
MILESTONES
2007
Unikare
division launched which caters to Dermatology and Allied therapies
2006
·
·
Unichem Specialities Division Launched
·
Acquisition of 100% stake in Niche Generics
Limited,
2005
·
Set up of
·
Baddi Unit II plant was commissioned
·
Unichem acquired API manufacturing unit at
Pithampur
2004
Restructuring of Unisearch and Launch of Unisearch CD Division
2002-2003
·
Animal Healthcare division divested
·
Subsidiaries in
·
Modernization of
2002
Established Joint Venture in
2001
·
New R and D Centre set up at Mumbai.
·
New Biosciences R&D Centre set up at
2000
·
Corporate Vision till 2005 unfolded
·
South African Health Authority Certifications for
·
Bonus Issue 1:1
·
UK MCA (MHRA) certification for
1999
·
Modern Multipurpose Bulk Drug plant set up at Roha
·
MOLECULAR GENERICS DIVN Launched
1997-2000
BaaN ERP implemented
1998
Baddi formulations plant fully operational
1997
·
·
New Corporate office set up at Unichem Bhavan
Jogeshwari, Mumbai.
1996
Merger of Unichem Exports Limited and Unisearch Limited with Unichem
Laboratories Limited
1994
·
Bonus Issue 1:2
·
First major capital infusion in the Company.
Private Placement of shares @ Rs. 265 premium
1993
Right issue @ Rs.40/- per share
1994-1999
Restructuring
and transformation of the company inline with future growth strategies
1987
Entered
Animal Health Care business
1986
Bonus Issue 1:2
1984
·
UNISEARCH Limited set up in Collaboration with
Upjohn
·
Unichem entered the anti-biotic segment - Ampoxin
(Ampicillin and Cloxacillin combination) launched
1983
·
·
Anti-TB - Isoniazid, Rifampicin introduced in white
tablet form for the first time in
1979
NEFEDIFINE - Unichem first to get clearance from Drug Authorities
1978
·
Bonus Issue 1:4
·
Roha Bulk Drug Plant established (Backward
Integration)
1976
Fine Chemicals unit at Roha was set up
1975
Bonus Issue 1:7
1973
Unichem's Research Laboratory recognised for Phd work by
1972
Padma Bhushan awarded to Late Mr. Amrut Mody for his pioneering efforts
in Indian Pharma Industry
1970
Backward Integration for manufacture of Anti-TB Drugs
1969
Bonus Issue 1:5
1968
1963
Tie up with Uni Sankyo - Co-Marketing formulations
1962
·
Foreign Collaboration with UCB for bulk-drugs
·
First Formulation plant at Jogeshwari
·
Unichem became Public-Listed on BSE - Total Share
Capital 4.400 millions (October)
·
OESTROGEN and Progestin combinations launched
1953
·
Unichem entered into Hormonal products
·
UNIPROGESTIN launched
1952
First
exports of Unichem
1944
Unichem was set up by Late Mr. Amrut Mody
BOARD OF
DIRECTOR
PRAKASH AMRUT MODY -
EXECUTIVE CHAIRMAN OF THE BOARD, MANAGING DIRECTOR CHAIRMAN
Dr. Prakash Amrut Mody is Executive Chairman of the Board, Managing
Director of Subject. He is a Doctorate in Organic Medicinal Chemistry from
PRAFULL ANUBHAI -
INDEPENDENT NON-EXECUTIVE DIRECTOR
Shri. Prafull Anubhai is Independent Non-Executive Director
of Subject. He is a management consultant and is associated with educational,
research and cultural institutions like Indian Institute of Management (IIMA),
Ahmedabad Education Society (AES), Centre for Science Technology and Policy
(CSTEP), ATIRA, Saptak (An Indian Classical Music organization), etc. He has
done his B.Sc.(Econ.) from the London School of Economics and attended PMD at
RAMDAS M. GANDHI -
INDEPENDENT NON-EXECUTIVE DIRECTOR
Shri. Ramdas M. Gandhi is Independent Non-Executive Director
of Subject. He is an advocate and solicitor by profession. He holds a Masters
degree in Law from
ANAND Y. MAHAJAN -
INDEPEND ENT NON-EXECUTIVE DIRECTOR
Mr. Anand Y. Mahajan is Independent Non-ExecutiveDirector of
Subject. He is graduated from St. Xavier’s College, Mumbai, in 1974 and
obtained a B.A. (Honours) degree in Economics. He completed his Masters degree
in Economics, securing a First Class, from the
NASSER M. MUNJEE -
INDEPENDENT NON-EXECUTIVE DIRECTOR
Shri. Nasser M. Munjee is Independent Non-Executive Director
of Subject. He has Bachelor degree from
PRAFULL D. SHETH -
INDEPENDENT NON-EXECUTIVE DIRECTOR
Mr. Prafull D. Sheth is Independent Non-Executive Director
of Subject. He is currently serves as Vice-President, International
Pharmaceutical Federation,
PRAKASH AMRUT MODY
EXECUTIVE CHAIRMAN OF
THE BOARD, MANAGING DIRECTOR MANAGING DIRECTOR
Dr. Prakash Amrut Mody is Executive Chairman of the Board,
Managing Director of Subject. He is a Doctorate in Organic Medicinal Chemistry
from
PRESS RELEASE
Unichem Laboratories
Limited Announces ANDA Approval From USFDA For Lamotrigine Tablets
Oct 13, 2011
Unichem Laboratories Limited announced that the Company has received approval
from US Food and Drug Administration (FDA) for Lamotrigine Tablets. Lamotrigine
is an anticonvulsant drug used in the treatment of epilepsy and for maintenance
treatment of bipolar disorder.
Equity
Shareholders approves Scheme of Arrangement
Accord Fintech (
08 November 2011
India, Nov. 08 -- Unichem Laboratories Limited has informed BSE that, in accordance with the directions of the Honble High Court of Bombay in Company Summons for Direction No. 603 of 2011, meeting of Equity Shareholders of the Company to approve the Scheme of Arrangement between AVM Capital Services Private Limited and Chevy Capital Services Private Limited and PM Capital Services Private Limited and Pranit Trading Private Limited and Viramrut Trading Private Limited and Unichem Laboratories Limited ("the Scheme of Arrangement") was convened and held on November 3, 2011.Further the Company has inform that, at the said meeting, the Equity Shareholders have approved the Scheme of Arrangement with overwhelming majority.
Outcome
of meeting
Accord Fintech (
04 November 2011
India, Nov. 04 -- Unichem Laboratories Limited has informed the Exchange that in accordance with the directions of the Hon'ble High Court of Bombay in Company Summon for Direction No.603 of 2011, meeting of Equity Shareholders of the Company to approve the Scheme of Arrangement between AVM Capital Services Private Limited and Chevy Capital Services Private Limited and PM Capital Services Private Limited and Pranit Trading Private Limited and Viramrut Trading Private Limited and Unichem Laboratories Limited was convened and held on November 03, 2011. Further at the said meeting the equity shareholders have approved the Scheme of Arrangement with overwhelming majority
Unichem
gets USFDA approval for generic epilepsy drug
Press Trust of
13 October 2011
Mumbai, October 13 2011 (PTI) -- Drug firm Unichem Laboratories today said it has received approval from the US health regulator for its generic Lamotrigine tablets, used for treating central nervous system (CNS) disorders like epilepsy.
"The company has received Abbreviated New Drug Application (ANDA) approval from the United States Food and Drug Administration (USFDA) for Lamotrigine tablets," Unichem Laboratories said in a filing to the BSE.
The approval is for Lamotrigine tablets in the strengths of 25 mg, 100 mg, 150 mg and 200 mg, it added.
The tablets are generic equivalent to Lamictal tablets USP of GlaxoSmithKline in the same strengths, Unichem said. "Lamotrigine is an anticonvulsant drug used in the treatment of epilepsy and for maintenance treatment of bipolar disorder," it added.
The company said it has received approvals for 10 more ANDAs.
Shares of Unichem Laboratories today closed at Rs 137.15 on the BSE, up 0.11 per cent from its previous close. PTI AKT RKL YB MR 10131921
Unichem
Laboratories gets US FDA nod for Lamotrigine Tablets
Accord Fintech (
07 October 2011
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 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.52.84 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.69.15 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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.