MIRA
INFORM REPORT
|
Report Date : |
28.02.2011 |
Note:
The Correct name of the company is HIMALAYA
DRUG COMPANY PRIVATE LIMITED
IDENTIFICATION DETAILS
|
Name : |
HIMALAYA DRUG COMPANY PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
21.05.1997 |
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Com. Reg. No.: |
08-022261 |
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CIN No.: [Company
Identification No.] |
U24232KA1997PTC022261 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRT00185D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Pharmaceuticals |
RATING & COMMENTS
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MIRA’s Rating : |
A (59) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 930000 |
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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 and reputed company having fine track.
General financial position is good. 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) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DECLINED BY
Management Non Co-Operative
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-80-23714444/ 22169999/ 23714468 |
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Fax No.: |
91-80-23714468 |
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E-Mail : |
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Website : |
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Branch Office : |
1-C, |
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Tel. No.: |
91-44-28554447/ 28554019/ 30972019 |
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Fax No.: |
91-44-28553521 |
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Overseas
Offices: |
Located At: v
v
Middle East/ v
v
v
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DIRECTORS
As On 20.09.2010
|
Name : |
Mrs. Jayashree Ullal |
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Designation : |
Director |
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Address : |
2378/A, 13th |
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Date of Birth/Age : |
13.09.1973 |
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Date of Appointment : |
09.01.2009 |
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Name : |
Mr. Meraj Alim Manal |
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Designation : |
Director |
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Address : |
234727, 18th Cross, Sadashiv Nagar, |
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Date of Appointment : |
31.10.1997 |
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Name : |
Mr. Syed Farooq Ahmed |
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Designation : |
Director |
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Address : |
321-D, |
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Date of Appointment : |
31.10.1997 |
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Name : |
Mr. Shabir Shariff |
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Designation : |
Director |
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Address : |
No. 18, |
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Date of Birth/Age : |
15.08.1950 |
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Date of Cessation: |
09.01.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 20.09.2010
|
Names of Shareholders |
|
No. of Shares |
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|
10000 |
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Mr. Shabir Shariff |
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20 |
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TOTAL |
|
10020 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
99.80 |
|
Other top fifty shareholders |
0.20 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pharmaceuticals |
GENERAL INFORMATION
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No. of Employees: |
Not Divulged by the management.
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Bankers : |
Union Bank of India- Cantonment Branch, No.171, |
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Banking Relations
: |
Satisfactory |
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Auditors : |
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Name : |
Vishnu Daya and Company Chartered Accountant |
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Address : |
GF No. 7, Karuna Complex, No. 337, Sampige Road, Malleshwaram,
Bangalore- 560003, Karnataka, India. |
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Tel. No.: |
91-80-23312779/ 23560633 |
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Fax No.: |
91-80-23313725 |
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Website: |
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Holding Company: |
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CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000 |
Equity Shares |
Rs.100/- Each |
Rs.3.000 Millions |
|
20000 |
Preference Shares |
Rs 100/- Each |
Rs. 2.000 Millions |
|
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TOTAL |
|
Rs. 5.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10020 |
Equity Shares |
Rs 100/-
Each |
Rs.1.002
Millions |
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 |
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1] Share Capital |
1.002 |
1.002 |
1.002 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
233.765 |
174.398 |
60.515 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
234.767 |
175.400 |
61.517 |
|
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
234.767 |
175.400 |
61.517 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
21.477 |
22.909 |
24.449 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
153.790 |
91.155 |
37.229 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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Inventories |
0.000
|
0.000
|
0.000 |
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Sundry Debtors |
0.000
|
0.000
|
0.000 |
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Cash & Bank Balances |
0.016
|
1.010
|
0.048 |
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Other Current Assets |
60.549
|
60.549
|
0.000 |
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Loans & Advances |
0.000
|
0.000
|
0.000 |
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Total
Current Assets |
60.565
|
61.559
|
0.048 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.079
|
0.063
|
0.000 |
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Other Current Liabilities |
0.160
|
0.160
|
0.160 |
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Provisions |
0.826
|
0.000
|
0.049 |
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Total
Current Liabilities |
1.065
|
0.223
|
0.209 |
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Net Current Assets |
59.500
|
61.336
|
(0.161) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
234.767 |
175.400 |
61.517 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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Income |
NA |
|
0.000 |
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Other Income |
NA |
|
0.000 |
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TOTAL |
NA |
132.676 |
0.000 |
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EXPENSES |
|
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Office Expenses |
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Administrative Expenses |
|
1.556 |
0.017 |
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Advertising Expenses |
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TOTAL |
NA |
1.556 |
0.017 |
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PROFIT BEFORE
TAX |
NA |
131.120 |
11.013 |
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Less |
TAX |
NA |
113.883 |
0.000 |
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PROFIT AFTER TAX
|
32.413 |
17.237 |
11.013 |
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Earnings Per
Share (Rs.) |
3234.83 |
11366 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
12.99
|
NA |
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Return on Total Assets (PBT/Total Assets} |
(%)` |
NA
|
155.64
|
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.75
|
44.96 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.004
|
0.002
|
0.18 |
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Current Ratio (Current Asset/Current Liability) |
|
56.87
|
276.05
|
0.23 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
- Dues of Micro and Small Enterprises |
-- |
-- |
Nil |
|
- Dues of Creditors other than Micro and Small Enterprises |
-- |
-- |
Nil |
|
Creditors for expenses |
0.079 |
0.063 |
Nil |
|
Total |
0.079 |
0.063 |
Nil |
Business:
During the year ended 31 March 2010 the company has earned a share of
profit after tax amounting to Rs. 32.413 Millions.
Further the company had received a compensation of Rs. 5.685 Millions
from the Government for compulsory acquisition of their land and Makali.
Further during the year 2008-09, additional compensation of Rs. 2.661 Millions
was received.
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24232KA1997PTC022261 |
|
Name of the
company |
HIMALAYA DRUG COMPANY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
Type of charge |
Immovable Property
|
|
Particular of
charge holder |
Union Bank of India- Cantonment Branch, No.171, |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of Deposit
of title deeds (Company) (Ad- 14) |
|
Date of
instrument Creating the charge |
27.03.2006 |
|
Amount secured by
the charge |
2010.000 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC= BPLR- 1.50% TL 1= BPLR- 1.50% TL 2= BPLR- 1% BPLR at present
is 12.5% Terms of
Repayment: New Term Loan to be repaid in 14 half yearly installments of RS
43.200 Millions plus Interest commencing from March 2008 after moratorium
period upto December 2007. Existing Term
Loan to be recovered as per existing schedule in stepped up installment.
(i.e. First 4 half yearly installment of Rs 34.500 Millions commenced from
June 2006 and next 6 half yearly interest of Rs 52.000 Millions Margin: CC= Stock
25%, Book Debts 40% TL= 25% on
Building and 15% on Plant and Machinery Extent and
Operation of the charge: The charge extends on the assets charged to the
extent of Rs 2010.000 Millions plus Interest and other charges due to the
Bank |
|
Short particulars
of the property charged |
|
Fixed Assets
v Land
v Building
v Furniture and Fixtures
WEBSITE DETAILS
PROFILE
Subject was founded in 1930 by Mr. M Manal
with a clear vision to bring Ayurveda to society in a contemporary form and to unravel
the mystery behind the 5000 year old system of medicine. This include referring
to ancient ayurvedic texts, selecting indigenous herbs and subjecting the
formulations to modern pharmacological, toxicological and safety tests to
create new drugs and therapies.
Eight years ago, on a visit to
The legacy of researching nature forms the
foundation of
Since its inception, the company has focused
on developing safe, natural and innovative remedies that will help people lead
richer, healthier lives. Today, Himalaya products have been endorsed by 300000
doctors around the globe and consumers in 67 countries rely on
Brand Identity . . . the promise of health, well-being and a prescription
for good living
The
The
Working at
On the path of growth, they are always on the lookout for bright and dynamic
individuals with an ability to work in a fast-paced environment.
The candidate must have the highest ethical standards apart from his technical
expertise.
They promise an exciting, challenging and fulfilling career, built on
professional and personal progress, honesty and dignity. If you have an
appetite for challenge, they have an exciting career for you.
PRESS RELEASES
Himalaya Herbal
Healthcare, opens exclusive store in Delhi's GK Market, incorporating unique
'Green Concepts'
Himalaya Herbal Healthcare, launched its exclusive outlet,
with unique 'Green Concepts', at GK Market, one of
The store showcases Himalaya's 'head-to-heel' range of over
200 herbal products spanning pharmaceuticals, personal care, foods, baby care,
wellness and animal health. It provides a single platform for
While the store design bears
GREEN
CONCEPTS IMPLEMENTED AT THE STORE
- The lighting
used in the store is energy-efficient compact fluorescent lights (CFL)
that consume 75% - 80% less energy and last up to ten times longer than
incandescent bulbs.
- The
air-conditioning has a four-star rating, saving approximately 1500 watts
per day by consuming half the energy of a normal AC.
- Zero-Volatile
Organic Compound (VOC) paints used in the store are non-toxic and do not
deplete the ozone layer. The paint is sourced locally, which means less
transportation and reduced carbon footprint.
- Carry bags
are made from 75% recycled paper to help optimize the sustainability of
packaging materials.
- Display units
within the store are made from Medium
Density Fiberboard (MDF), which is produced using wood waste and
wood chippings that occur during the primary use of wood.
Inaugurating the store, Mr. Saket Gore, Business Head, Consumer Product Division, The Himalaya Drug Company, said, "We work very closely with nature since all our products are derived from herbs and plants. As such, we are strongly committed to doing our best to protect the planet - whether it is through promoting organic farming, preserving biodiversity, rainwater harvesting or moving towards greater energy efficiency in all our operations. By incorporating green elements in our retail outlets, we aim to reduce our carbon footprint. This 'greening the store' initiative will be rolled out across stores and will be part and parcel of all our new outlets. While there is always scope for improvement, we believe every small step helps save the planet and makes a big difference in the long run!"
ABOUT US
The Himalaya Drug Company was founded in 1930 by Mr. M. Manal with a clear vision to bring Ayurveda to society in a contemporary form and to unravel the mystery behind the 5,000 year old system of medicine. This included referring to ancient ayurvedic texts, selecting indigenous herbs and subjecting the formulations to modern pharmacological, toxicological and safety tests to create new drugs and therapies.
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.45.37 |
|
|
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.62.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
59 |
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.