MIRA
INFORM REPORT
|
Report Date : |
05.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
INDIAN IMMUNOLOGICALS LIMITED |
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Registered
Office : |
Road No 44, Jubilee Hills, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.10.1999 |
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Com. Reg. No.: |
01-32666 |
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CIN No.: [Company Identification
No.] |
U72200AP1999PLC032666 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
HYDI00945A |
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PAN No.: [Permanent Account No.] |
AAAC16620F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Vaccines for live stock, canine vaccines and animal
health formulations |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 4700000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of National Dairy Development Board, 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 PARTED BY
|
Name : |
Mr. S. Prasad |
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Designation : |
Accounts Manager |
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Contact No.: |
91-40-23544585 |
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Date : |
04.01.2011 |
LOCATIONS
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Registered Office : |
Road No 44, Jubilee Hills, |
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Tel. No.: |
91-40-23544585/23544593 |
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Fax No.: |
91-40-23544007 |
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E-Mail : |
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Website : |
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Area : |
3500 sq.ft |
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Location : |
Owned |
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Factory : |
Rakshapuram, Ganchibowli, |
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Tel. No.: |
91-40-23000211/23000212/23000512 |
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Fax No.: |
91-40-23000213 |
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Representative Office |
Indian Immunologicals Limited Unit 620-1, 7th Floor, Melinh
Point Tower, 02-Ngo Due Ke Street, District
1, Ho Chi Minh City, Vietnam. |
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Tel. No.: |
84-906836528 |
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Human Biologicals Institute : |
Kozipannai, Pudumund, Udhagamandalam, Ooty
- 643 007, Tamilnadu |
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Tel. No.: |
91-423-2443186 |
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Fax No. : |
91-423-2442048 |
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Branches : |
Located at: East Zone
West Zone
South Zone
North Zone
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DIRECTORS
As On 30.09.2010
|
Name : |
Ms. Amrita H Patel |
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Designation : |
Chairman |
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Address : |
‘Savita’ Bikhabhai
Marg, Vallabh Vidya Nagar, Anand – 388120, |
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Date of Birth/Age : |
13.11.1943 |
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Date of Appointment : |
08.10.1999 |
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DIN No. : |
00065052 |
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Name : |
Mr. Deepak Tikku |
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Designation : |
Director |
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Address : |
A-1, NDDB Campus, Anand – 388001, |
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Date of Birth/Age : |
19.06.1948 |
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Date of Appointment : |
08.10.1999 |
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DIN No. : |
00064125 |
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Name : |
Mr. Balsubramaniam K. V |
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Designation : |
Director |
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Address : |
66, ‘Swathi’ Asbestos Colony, HACP, Kharkhana, Secunderabad –
500009, |
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Date of Birth/Age : |
27.11.1957 |
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Date of Appointment : |
08.10.1999 |
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DIN No. : |
00064100 |
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Name : |
Mr. V. A. Srnivasan |
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Designation : |
Director |
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Address : |
33, Telecom Nagar, Gachibowli,
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Date of Birth/Age : |
10.07.1947 |
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Date of Appointment : |
01.08.2005 |
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Date of Ceasing : |
31.07.2005 |
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DIN No. : |
00064153 |
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Name : |
Mr. A. M. M. Sarma |
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Designation : |
Director |
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Address : |
Plot No.285, House No. 302, UB Colony, Road, No. 3, BanjaraHills, Hyderabad – 500034, Andhra Pradesh, India |
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Date of Birth/Age : |
12.11.1936 |
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Date of Appointment : |
09.11.2005 |
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DIN No. : |
00064988 |
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Name : |
Prof. Seyed E Hasnain |
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Designation : |
Director |
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Address : |
102, Villa Green Gadipet, Ranga Reddy Distirct, |
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Date of Birth/Age : |
13.04.1954 |
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Date of Appointment : |
12.09.2008 |
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DIN No. : |
02205199 |
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Name : |
Dr. K Anand Kumar |
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Designation : |
Additional Director |
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Address : |
#5, Bench Mark, |
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Date of Birth/Age : |
05.09.1966 |
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Date of Appointment : |
01.11.2010 |
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DIN No. : |
03268712 |
KEY EXECUTIVES
|
Name : |
Mr. S. Prasad |
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Designation : |
Accounts Manager |
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Name : |
Kiran Kumar Manikwar |
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Designation : |
Company Secretary |
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Address : |
H. NO. 4-7-297/A/6, Essamia Bazar, |
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Date of Birth/Age : |
30.08.1974 |
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Date of Appointment : |
15.12.2006 |
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Pan No. : |
AGCPK4962F |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Dr. Amrita Patel |
|
1 |
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Deepak Tikku |
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1 |
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K V Balasubramaniam |
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1 |
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Dr. V. A. Srinivasan |
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1 |
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National Dairy Development Board |
|
9000001 |
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Dr. N. V Belavadi |
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1 |
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Dr. G S Reddy |
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1 |
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Total |
|
9000007 |
As On 30.09.2010
|
Category |
Percentage |
|
Public Financial
Companies |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Vaccines for live stock, canine vaccines and animal
health formulations |
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Products : |
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Terms : |
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Selling : |
Cash, Credit: 30/60/90 Days |
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Purchasing : |
Cash, Credit: 30/60/90 Days |
PRODUCTION STATUS (AS ON 31.03.2010)
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Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
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Veterinary Vaccines |
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Million doses |
200.00 |
110.47 |
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Animal Health
Products |
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Million no's |
3.00 |
1.23 |
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Human Vaccine |
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Million doses |
230.00 |
99.82 |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
500 (approximately) |
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Bankers : |
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Facilities : |
Cash Credit: Rs. 300.000 Millions
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
S. B. Billmoria and Company Chartered Accountant |
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Address : |
Gowra Grand, 3rd Floor, 1-8-384 and
385, |
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Tel. No.: |
91-40-40312600 |
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Fax No.: |
91-40-40312714 |
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Pan No. : |
AAAFS7376P |
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Holding Statutory Body : |
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Subsidiaries : |
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CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
15000000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Millions |
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Note:
5000000 Equity
shares of Rs. 10/- increased pursuant to Scheme of
Amalgamation of Indiagen Limited with the Company
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
9000007 |
Equity Shares |
Rs. 10/- each |
Rs. 90.000
Millions |
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Note:
9000001 shares are held by National Dairy
Development Board (NDDB) and are issued for consideration other than cash.
Balance shares are held by its nominees.
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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|
|
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1] Share Capital |
90.000 |
90.000 |
90.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1104.130 |
904.300 |
640.970 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1194.130 |
994.300 |
730.970 |
|
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LOAN FUNDS |
|
|
|
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1] Secured Loans |
923.970 |
695.380 |
853.100 |
|
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
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TOTAL BORROWING |
923.970 |
695.380 |
853.100 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
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TOTAL |
2118.100 |
1689.680 |
1584.070 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
741.920 |
642.020 |
625.330 |
|
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Capital work-in-progress |
184.950 |
78.930 |
68.230 |
|
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|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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DEFERREX TAX ASSETS |
59.710 |
59.270 |
47.640 |
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
623.680
|
550.710 |
362.210 |
|
|
Sundry Debtors |
891.660
|
691.500 |
732.360 |
|
|
Cash & Bank Balances |
142.880
|
134.790 |
122.110 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
546.260
|
340.160 |
239.990 |
|
Total
Current Assets |
2204.480
|
1717.160 |
1456.670 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
560.140
|
423.740 |
352.820 |
|
|
Other Current Liabilities |
43.240
|
45.150 |
40.910 |
|
|
Provisions |
469.580
|
338.810 |
220.040 |
|
Total
Current Liabilities |
1072.960
|
807.700 |
613.800 |
|
|
Net Current Assets |
1131.520
|
909.460 |
842.870 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2118.100 |
1689.680 |
1584.070 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2711.680 |
2217.630 |
1937.080 |
|
|
|
Other Income |
15.850 |
29.850 |
11.280 |
|
|
|
TOTAL (A) |
2727.530 |
2247.480 |
1948.360 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Ram material consumed |
246.040 |
269.080 |
257.420 |
|
|
|
Purchase of finished goods for resale |
154.400 |
72.220 |
73.690 |
|
|
|
Packing materials consumed |
202.420 |
161.720 |
138.60 |
|
|
|
Stores and spares consumed |
235.270 |
204.940 |
174.850 |
|
|
|
Employees cost |
335.340 |
274.370 |
209.160 |
|
|
|
Research and development expense |
106.260 |
95.680 |
79.710 |
|
|
|
Operating and other expenses |
461.750 |
387.980 |
353.600 |
|
|
|
Marketing expenses |
407.610 |
243.370 |
239.900 |
|
|
|
Increase/Decrease in FG and WIP |
(76.570) |
(158.790) |
(157.070) |
|
|
|
Diminution in the value of investment |
0.000 |
20.040 |
0.000 |
|
|
|
TOTAL (B) |
2072.520 |
1570.610 |
1369.860 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
655.010 |
676.870 |
578.500 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
82.280 |
87.060 |
57.830 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
572.730 |
589.810 |
520.670 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
169.410 |
172.260 |
183.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
403.320 |
417.550 |
337.470 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
122.300 |
143.070 |
112.130 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
281.020 |
274.480 |
225.340 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
763.890 |
563.260 |
398.780 |
|
|
|
|
|
|
|
|
|
|
TAKEN OVER ON
AMALGAMATION OF ERSTWHILE INDIAGEN LIMITED |
(82.280) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
56.200 |
54.900 |
45.070 |
|
|
|
Proposed Dividend |
16.200 |
16.200 |
13.500 |
|
|
|
Tax on Dividend |
2.750 |
2.750 |
2.290 |
|
|
BALANCE CARRIED
TO THE B/S |
887.480 |
763.890 |
563.260 |
|
|
|
|
|
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
402.530 |
237.230 |
236.490 |
|
|
TOTAL EARNINGS |
402.530 |
237.230 |
236.490 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
86.460 |
145.930 |
112.650 |
|
|
|
Packing Material |
10.260 |
33.360 |
29.430 |
|
|
|
Finished Goods |
1.070 |
0.000 |
0.000 |
|
|
|
Spares |
10.280 |
22.040 |
12.120 |
|
|
|
Capital Goods |
36.660 |
49.960 |
33.490 |
|
|
TOTAL IMPORTS |
144.730 |
251.290 |
187.690 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
31.22 |
30.50 |
25.04 |
|
Expected Sales (2010-2011): Rs. 3000.000
millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
10.30
|
12.21 |
11.56 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.87
|
18.83 |
17.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.69
|
17.70 |
16.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.42 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.67
|
1.51 |
2.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.05
|
2.12 |
2.37 |
LOCAL AGENCY FURTHER INFORMATION
The details of
Sundry Creditors:
Rs. In
Millions
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
Total Outstanding dues to Micro and small enterprise |
8.620 |
3.020 |
26.730 |
|
Total outstanding dues of creditors other than micro and small
enterprise |
|
|
|
|
For goods |
384.190 |
247.190 |
197.970 |
|
For Services/Expenses |
167.330 |
173.530 |
128.150 |
|
Total |
560.140 |
423.740 |
352.850 |
Review of
Operations:
During the year, the
sales turnover of the company increased by 22.10% to reach Rs.2729.000 millions
(including sales of Indiagen division). Sales of
animal health vaccines and formulations in the domestic market stood at
Rs.1053.000 millions. While the sales of human health vaccines in the domestic
market grew by 3 1.06 % and reached Rs. 1164.000
millions, exports achieved a growth rate of 69.69% and reached Rs.403.000
millions.
IndiaGen division crossed the coveted one million
mark on artificial inseminations and recorded a turnover of Rs.
109.110 millions, comprising Rs. 101.660 millions
from Artificial Insemination services and Rs.7.460 millions from the sale of
mineral mixture.
The Company
continues to be at the topmost position in the domestic animal vaccines market
and third in the domestic animal health market. Its flagship product Raksha Ovac (FMD vaccine), with a
sale of Rs.640.48 millions continues to be the market leader. Among the other
animal vaccines, Rabies vaccine (Raksharab) with
sales of Rs. 103.420 millions and Raksha
Theileriosis vaccine (Rakshavac
T) with sales of Rs.9.330 millions were the notable performers. Nutraceutical products showed a robust growth of 65% and
recorded a sale of Rs.82.520 millions.
During the year, the
Company added Calcium feed granules (Calsagar Plus)
to its nutraceuticals portfolio. In the animal health
formulations segment, the Company introduced oral de-wormer solution (Clositel Solution), liver tonic (Bovoplex
Oral), and line extensions of Ivermectin and Nimosulide as bolus.
In the human vaccine
business, the flagship product 'Abhayrab' recorded
sales of Rs. 1155.750 millions. Under the Ministry of
Health's Universal Immunisation Programme
(UIP), the products Abhay M (Measles Vaccine), Abhay TOX (Tetanus Toxoid), Abhay TAG (Diptheria, Pertusis and Tetanus) and Abhay
DAG (Diptheria, Tetanus) recorded sales of Rs.251.960
millions. At the request of the Ministry of Health, Government of India the
company continues to work on the development of human vaccines for diseases
prevalent in
The Company made new
forays in exports, significantly in the CIS markets which are opening up to
imports from
The Company has
constituted a 'Quality Management Committee', chaired by Dr. Seyed E Hasnain, irector comprising external and internal experts on Quality
Management. The Committee reviews the uality
initiatives, the quality system as per current Good Manufacturing Practices (cGMP) requirements with special attention to deviations and
product complaints, suggests improvements with respect to organizational
structure, responsibilities, resources and procedures etc.
Future outlook
With increased
outlays for animal disease control by the Government and expansion in the
manufacturing capacities in response to the resultant higher demand, the
Company is poised to effectively tap new opportunities in the animal health
market. The Company is also lining up several new product introductions, which
will result in broadening its market presence and help deliver affordable
products and services to more people.
Contingent Liabilities
not provided for:
|
Particulars |
31.03.2010 (Rs. In Millions) |
|
Claims against the company not acknowledged as debts relate to
following: |
|
|
i) Excise Duty |
2.260 |
|
ii) Service Tax |
1.850 |
|
ii) Sales Tax |
2.780 |
|
iii) Contract Related |
2.880 |
|
|
|
|
In respect of guarantees given by banks |
117.670 |
Bankers Charges
Report as per Registry
|
Name of the company |
Indian Immunologicals
Limited |
|
Presented By |
K Suryanarayana,
Company Secretary |
|
1) Date and description of instrument creating the change |
Deed of
hypothecation dated 30.08.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 140.000 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
First charge on
all movable assets, present and future pertaining to foot and mouth disease
(FMD) vaccine expansion project including its plant and machinery, inventories,
spares, tools, accessories, situated at rakshapuram,
gachibowli, |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Term: 10 years
payable in 8 equal annual installments on 1st October each year. Rate of interest:
8.5% per annum to be paid on the reducing balance on 31st March
each year, or as decided by NDDB from time to time. |
|
5) Name and Address and description of the person entitled to the charge. |
National Diary
Development Board (NDDB) Anand 388001, Guajrat |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
|
Corporate
identity number of the company |
U72200AP1999PLC032666 |
||||||
|
Name of the
company |
INDIAN
IMMUNOLOGICALS LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
ROAD NO,
44.Jubilee Hills, |
||||||
|
This form is for |
Creation of
charge |
||||||
|
Type of charge |
Book Debts Movable Property Floating Charge |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of instrument
creating charge |
Letter of
Hypothecation of Stocks, Book Debts and Machinery dated 02.09.2010 |
||||||
|
Date of
instrument Creating the charge |
02.09.2010 |
||||||
|
Amount secured by
the charge |
Rs. 300.000 Millions |
||||||
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest
– CC -
(PLR-6.75%). Minimum rate being 9%
p.a. WCDL - 8.1% p.a. LC / BG -
Commission of 0.75% p.a. or as
mutually agreed. Terms of
Repayment – On demand Margin – CC / WDCL - 25%
on stocks and 25% on book debts less than 90 days LC / BG - 10%
cash margin Extent and
Operation of the charge – Hypothecation by
way of First Pari Passu
charge on all the stocks and book debts of the company both present and
future and Hypothecation by way of second Pari Passu charge on all the movable Plant and Machinery of
the company both present and future. |
||||||
|
Particulars of
the property charged |
Hypothecation by
way of First Pari Passu
charge on all the stocks and book debts of the company both present and
future Hypothecation by
way of second Pari Passu
charge on all the movable Plant and Machinery of the company both present and
future. |
Fixed Assets:
- Land –
freehold
- Plant and
machinery
- Electricals
- Refrigeration
and air conditioning
- Furniture
- Office
equipment
- Vehicles
- Computers
- Software
- Technology
transfer agreements
AS PER WEB SITE DETAILS:
ACHIEVEMENTS:
IIL pursues its mission of making "immunity
affordable" to both the animal and human health segments and in the
process creates a vibrant biotechnology base for the country and a leadership
position in the international arena.
The significant milestones in IIL ’s history are given in the below:
2007
- Launch of
indigenously produced Measles Vaccine
- Launch of Raksha-PPR (Pestis des petits Ruminants) vaccine
- Launch of
Animal Nutrition Division - Calsagar, Goumix, Goumin.
- IIL’s sales turnover reached Rs.158 Crores in 2006-07.
2006
- Launch of the first vaccine from the Human
Vaccine Manufacturing Plant Hyderabad – Elovac-B
(r-DNA Hepatitis-B vaccine).
- 4th largest company in domestic animal
health market
- Achieved milestone of Rs.100 Crores
sales turnover
- Indian Immunologicals
Ltd. wins the first “Corporate social responsibility”
award instituted by Animal Pharm
2005 - Abhayrig, an affordable immunoglobulin to treat class 3 dog bites
introduced
2004 - Nimovet-world’s first Nimesulide injection for
livestock introduced.
- Indiagen Ltd, a company offering scientific and professional breeding
services launched.
- IIL emerges as the fifth largest
animal health company in
- Raksha
FMD Vaccine emerges as the largest animal health brand in
2003 - New Human Vaccines plant and Research and
inaugurated.
- Introduction of unique concept of Fenbendazole through feed pellate.
2002 - Vaccine for Brucellosis in
cattle launched.
- Human vaccine portfolio increased with Measles and MMR vaccine.
- Launched “Operation Pratirodh ” - Animal
Health vaccination services.
2001 - Unique medicated feed
pellets - Vetfen-600 launched.
- Emerges as
2000 - World ’s first
combination vaccine for FMD, HS and BQ – Raksha
Triovac.
1999 - “Abhayrab
” introduced; Veterinary formulations range expanded.
- Abhay
Clinics for mission of “Immunity made Affordable”.
1998 - Awarded ISO 9002 Certification.
- FMD – Ovac ((FMD adjuvant vaccine) introduced
- Vaccines for sheep and canines
introduced.
- Human Rabies vaccine plant at Ooty commissioned.
1997 - Awarded WHO GMP
certification. Export avenues opened.
1996 - Introduction of Enterotoxaemia vaccine.
1992 - Introduction of
Haemorrhagic Septicaemia (HS) and Black Quarter (BQ)
Vaccines
- Introduction of Xylazine Hydrochloride injection, based on in-house
research.
1989 - First Indian company to
manufacture tissue culture Veterinary Rabies
vaccine.
- Tropical Theileriosis
vaccine for cattle, first of its kind in the world.
1985 - Animal health products for
the cooperative sector Introduced.
1983 - Foot and Mouth Disease vaccine
plant commissioned.
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.44.84 |
|
|
1 |
Rs.69.32 |
|
Euro |
1 |
Rs.44.84 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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.