MIRA
INFORM REPORT
|
Report Date : |
01.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
MEDLEY PHARMACEUTICALS LIMITED |
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|
|
|
Registered
Office : |
Medley House, D2 MIDC Area, Andheri (East), Mumbai - 400093, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
15.04.1975 |
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Com. Reg. No.: |
11-18296 |
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Capital
Investment / Paid-up Capital : |
Rs.100.000
millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U24230MH1975PLC018296 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM21128C |
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PAN No.: [Permanent Account No.] |
AAACM2764J |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Haematinics, Anti
Infective and Anti Inflammatory. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3200000 |
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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 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 |
|
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 |
LOCATIONS
|
Registered/ Corporate Office : |
Medley House, D2 MIDC Area, Andheri
(East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-30888945/ 30887777 |
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Fax No.: |
91-22-28204453/ 30888423 |
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E-Mail : |
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|
Website : |
http://www.medleylab.com |
DIRECTORS
AS ON: 21.07.2010
|
Name : |
Mr. Sami Abdul Majid Khatib |
|
Designation : |
Chairman and Managing Director |
|
Address : |
Shoa, 25, Greater Bombay Co-op HSG Limted, Gulmohar Cross Road No. 5,
JVPD Scheme, Vile Parle (West), Mumbai - 400049, Maharashtra, India |
|
Date of Birth/Age
: |
07.07.1934 |
|
Date of
Appointment : |
15.04.1975 |
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DIN No : |
00059442 |
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|
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|
Name : |
Mr. Sarosh Sami Khatib |
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Designation : |
Joint Managing Director |
|
Address : |
Shoa, 25, Greater Bombay Co-op HSG Limted, Gulmohar Cross Road No. 5, JVPD
Scheme, Vile Parle (West), Mumbai - 400049, Maharashtra, India |
|
Date of
Birth/Age : |
21.02.1964 |
|
Date of
Appointment : |
17.07.1987 |
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DIN No : |
00058143 |
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|
Name : |
Mr. Sahir Sami Khatib |
|
Designation : |
Director |
|
Address : |
Shoa, 25, Greater Bombay Co-op HSG Limted, Gulmohar Cross Road No. 5,
JVPD Scheme, Vile Parle (West), Mumbai - 400049, Maharashtra, India |
|
Date of
Birth/Age : |
26.10.1962 |
|
Date of
Appointment : |
01.09.1998 |
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DIN No : |
00043681 |
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|
Name : |
Dr. Zafaruddin Naqshbandi |
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Designation : |
Director |
|
Address : |
House No. 1-27-28, Manzurpura, Aurangabad - 431001, Maharashtra, India
|
|
Date of
Birth/Age : |
27.06.1930 |
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Date of
Appointment : |
27.09.1999 |
|
DIN No : |
00062720 |
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|
|
Name : |
Dr. Mir Asif Ali |
|
Designation : |
Director (Medical) |
|
Address : |
51, Nupur, 5th Floor, Gulmohar Cross Road No. 4, JVPD Scheme, Vile
Parle (West), Mumbai - 400049, Maharashtra, India |
|
Date of
Birth/Age : |
25.12.1952 |
|
Date of
Appointment : |
27.09.1999 |
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DIN No : |
00058250 |
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|
Name : |
Mr. Vimal Kumar Varma |
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Designation : |
Director |
|
Address : |
E-303, Nazarane Apts, Kharodi, Marve Road, Malad (West), Mumbai -
400095, Maharashtra, India |
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Date of
Birth/Age : |
08.06.1934 |
|
Date of
Appointment : |
27.09.1999 |
|
DIN No : |
00105404 |
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|
|
|
Name : |
Mr. Sagun Vishnu Naik |
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Designation : |
Director |
|
Address : |
B/5, Dhanshree, 19, New Nagardas Road, Andheri (East), Mumbai -
400069, Maharashtra, India |
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Date of
Birth/Age : |
01.09.1936 |
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Date of
Appointment : |
28.09.2001 |
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DIN No : |
00185825 |
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|
Name : |
Mr. Surendra Kumar Sharma |
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Designation : |
Director (International Busienss) |
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Address : |
Bldg No. 42, Flat No. 202, 2nd Floor, 23 Mhada Code No. 128, Oshiwara,
Mumbai - 400102, |
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Date of
Birth/Age : |
30.06.1958 |
|
Date of
Appointment : |
30.09.2006 |
|
DIN No : |
01204773 |
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|
Name : |
Mr. Tarun Gupta |
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Designation : |
Additional Director |
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Address : |
A-102, Jagat Vidya, Kalanagar Road, Bandra East, Mumbai - 400051,
Maharashtra, India |
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Date of
Birth/Age : |
27.12.1939 |
|
Date of
Appointment : |
24.06.2009 |
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DIN No : |
02667140 |
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|
|
|
Name : |
Mr. Suhel Sami Khatib |
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Designation : |
Director |
|
Address : |
Shoa, 25, Greater Bombay Cooperative Housing Society Limited, Gulmohar
Cross Road No.5, JVPD Scheme, Vile Parle (West), Mumbai- 400049, Maharashtra,
India |
|
Date of
Birth/Age : |
10.02.1961 |
|
Date of
Appointment : |
01.04.2010 |
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DIN No : |
00904454 |
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Name : |
Mr. Mushtaque Antulay |
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Designation : |
Independent Director |
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|
Name : |
Mr. Vimalkumar S. Varma |
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Designation : |
Independent Director |
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Name : |
Mr. Sagun Vishnu Naik |
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Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
Ms. Varsharani Rajaram Katre |
|
Designation : |
Secretary |
|
Address : |
Type 1, Building 21, Room 304, Hillside, IIT Powai, Mumbai-400076,
Maharashtra, India |
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Date of Birth/Age : |
13.08.1981 |
|
Date of Appointment : |
02.11.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 21.07.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Sami Khatib |
|
8280000 |
|
Sabeeh Khatb |
|
40000 |
|
Sarosh Khatib |
|
1900000 |
|
Sahir Khatib |
|
1900000 |
|
Sami Khatib, Mrs. Sima Khatib and Dr. Mir
Asif Ali |
|
920000 |
|
Sami Khatib, Mrs. Sima Khatib and Dr. Mir
Asif Ali |
|
652000 |
|
Medley Laboratories Private Limited, India |
|
4040000 |
|
Suhel Khatib |
|
1300000 |
|
Suhel Khatib |
|
600000 |
|
Samina Khatib |
|
60000 |
|
Sami Khatib, Mrs. Sima Khatib |
|
58000 |
|
Sami Khatib |
|
50000 |
|
Yasmeen Khatib |
|
60000 |
|
Samey Khatib |
|
40000 |
|
Farah Khatib |
|
60000 |
|
Shayan Khatib |
|
40000 |
|
|
|
|
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Total |
|
20000000 |
(AS ON 21.07.2010)
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
3.00 |
|
Bodies corporate |
|
20.20 |
|
Directors or relatives of directors |
|
76.80 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Haematinics, Anti
Infective and Anti Inflammatory. |
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Products : |
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PRODUCTION STATUS (As on 31.03.2010)
|
Particulars
(Based on single shift) |
Unit |
Licensed Capacity |
Installed Capacity |
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|
|
|
|
|
Capsules / Tablets |
-- |
NA |
13140 |
|
Liquid Orals |
Liters |
NA |
78 Lac |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
State
Bank of India letter dated 01.11.2010 for release of property at Chikalthana,
Aurangabad |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountant |
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Address : |
12, Dr. Annie Besant Road, Opp. Shiv Sagar Estate, Worli, Mumbai -
400018, Maharashtra, India |
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|
|
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Subsidiaries : |
v
Sinkhai Healthcare Limited (formerly known as
M/s. Zenkare Pharmaceuticals Private Limited)
Subsidiary with effect from 5th June, 2009 CIN No : U24230MH2005PLC151938 v
Medley Laboratories Private Limited (Ceased with
effect from 18th May, 2010) CIN No : U24100MH1975PTC018500 |
CAPITAL STRUCTURE
AS ON: 21.07.2010
Authorised Capital : Rs.330.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.319.200
Millions
AS ON: 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24000000 |
Equity Shares |
Rs.5/- each |
Rs.120.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.5/- each |
Rs.100.000
millions |
|
|
|
|
|
Notes: Includes 106600 Equity Shares of Rs.5/- each
allotted as Bonus Shares by capitalizing General Reserve.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
100.000 |
100.000 |
100.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
700.252 |
483.915 |
379.649 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
800.252 |
583.915 |
479.649 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
262.869 |
548.426 |
535.070 |
|
|
2] Unsecured Loans |
12.231 |
42.091 |
32.766 |
|
|
TOTAL BORROWING |
275.100 |
590.517 |
567.836 |
|
|
DEFERRED TAX LIABILITIES |
9.894 |
16.049 |
9.496 |
|
|
DEFERRED GOVERNMENT GRANTS |
4.629 |
1.462 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1089.875 |
1191.943 |
1056.981 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
627.155 |
705.003 |
666.701 |
|
|
Capital work-in-progress |
1.882 |
4.264 |
2.755 |
|
|
|
|
|
|
|
|
INVESTMENT |
16.585 |
1.237 |
0.412 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
280.257
|
358.391 |
384.413
|
|
|
Sundry Debtors |
363.122
|
298.157 |
301.352
|
|
|
Cash & Bank Balances |
15.333
|
32.582 |
8.465
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
201.709
|
190.834 |
159.304
|
|
Total
Current Assets |
860.421
|
879.964 |
853.534 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
281.320
|
247.375 |
272.475 |
|
|
Other Current Liabilities |
77.981
|
85.797 |
150.827
|
|
|
Provisions |
56.867
|
65.353 |
43.119
|
|
Total
Current Liabilities |
416.168
|
398.525 |
466.421 |
|
|
Net Current Assets |
444.253
|
481.439 |
387.113
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1089.875 |
1191.943 |
1056.981 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2088.081 |
1847.417 |
1644.838 |
|
|
|
Other Income |
19.692 |
35.567 |
26.973 |
|
|
|
TOTAL (A) |
2107.773 |
1882.984 |
1671.811 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
845.234 |
824.341 |
778.671 |
|
|
|
Employees Remuneration |
357.865 |
297.664 |
278.464 |
|
|
|
Operating Expenses |
508.276 |
472.695 |
437.989 |
|
|
|
Prior Period Expenses |
0.000 |
0.000 |
19.736 |
|
|
|
TOTAL (B) |
1711.375 |
1594.700 |
1514.860 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
396.398 |
288.284 |
156.951 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
28.422 |
59.973 |
56.199 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
367.976 |
228.311 |
100.752 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
70.588 |
69.740 |
57.434 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
297.388 |
158.571 |
43.318 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
45.945 |
31.869 |
(11.221) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
251.443 |
126.702 |
54.539 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
105.000 |
5.000 |
5.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
216.344 |
9.153 |
43.203 |
|
|
|
Interim Dividend Paid |
30.000 |
0.000 |
0.000 |
|
|
|
Tax on Interim Dividend Paid |
5.099 |
0.000 |
0.000 |
|
|
|
Proposed Dividend |
0.000 |
15.000 |
9.689 |
|
|
|
Tax on Dividend |
0.000 |
2.549 |
1.647 |
|
|
BALANCE CARRIED
TO THE B/S |
105.000 |
105.000 |
5.000 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
213.270 |
176.785 |
141.509 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
45.957 |
27.973 |
NA |
|
|
|
Capital Goods |
0.903 |
6.436 |
NA |
|
|
TOTAL IMPORTS |
46.860 |
34.409 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.57 |
6.34 |
2.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
14.11
|
8.42 |
3.26
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.24
|
8.58 |
2.63
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.99
|
10.01 |
2.85
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.27 |
0.09
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.88
|
1.72 |
2.18
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.07
|
2.21 |
1.83
|
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
The total revenue of the Company increased to Rs.2119.732 millions
(Rs.1877.568 millions). The Profit Before Tax is Rs.297.388 millions
(Rs.158.571 millions) and Profit After Tax is Rs.251.443 millions (Rs.126.702 millions).
The EPS of the Company is Rs.12.57 per share (Previous year Rs.6.34 per share).
The addition to the product portfolio includes new product like:
|
Muscle Relaxani |
Acenca MR |
Acelotenac 100mg+ Thicocolchicoside 4mg + Paracetamol 500mg |
|
Anti
Osteoporotic |
Ostium K2 |
Calcium 200mg + Vit K2, 50mcg + Zinc7-5 mg + Calciricol 0.25 mcg +
Magnesium 50mg |
|
Analogestic |
Lorpat |
Lornoxicam 8mg + Paracetamol 500mg |
|
Anthypertensilve |
Betabest XL
25/50 |
Metoprolol Succinate Extended release 25/50 mg |
|
|
Betabest – AM 25 |
Metoprolol Succinate Extended release 25mg + Amlodipine 5mg |
|
|
Betabest – AM 50 |
Metoprolol Succinate Extended release 50mg + Amlodipine 5mg |
INDUSTRY
PERFORMANCE
The domestic market has witnessed unprecedented growth of 18% as per
ORG-IMS MAT of March 2010. The growth has been witnessed across at the
therapeutic segments and is a reflection of the potential of Pharmaceutical
sector. The future potential of this industry can also be gauged from the steep
multiples in the valuation of the buyout transaction by Abbot of the domestic
assets of Nicholas Piramal. The deal along with the earlier acquisition of
Ranbaxy also indicates the high paced consolidation taking place in the
industry with healthcare expenditure expected to go up from 5% of GDP to above
10% of GDP in next 5 years, it paves the way for a healthy growth environment
for the industry.
SUBSIDIARY
During the financial year the Company has made ‘Sinkhai Healthcare
Limited’ as its subsidiary by investing 51% in the Share Capital of the said
Company. The financial statements along with the details as per section 212 of
the Companies Act 1956, is annexed and forms part of the Report.
There are no activities carried out by the Subsidiary ‘Medley Pharma UK
Limited’, since its inception, and the Company has written off its holding in
the said subsidiary since the same has wound up and the name of Company has
been struck off from the records of Registrar of Companies, UK.
During the financial year, the Board of Directors of the Company had
approved to acquire the shares of Medley Laboratories Private Limited.
Considering the strategic advantages of merging the said MLPL, which has become
a 100%. Subsidiary to the Company subsequent to the financial year, the Board
of directors has approved a scheme of Amalgamation subject to the approval of
the Hon’ble High Court, Bombay.
FORM 8
|
Corporate
identity number of the company |
U24230MH1975PLC017296
|
|
Name of the
company |
MEDLEY
PHARMACEUTICALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Medley House, D -
2, MIDC Area, Andheri (W), Mumbai - 400093, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
State Bank of India, Industrial Finance Branch, Snehal Chambers, Teli Gulli, Andheri
(East), Mumbai-400069, Maharashtra, India |
|
Nature of
instrument creating charge |
State
Bank of India letter dated 01.11.2010 for release of property at Chikalthana,
Aurangabad |
|
Date of instrument
Creating the charge |
01.11.2010 |
|
Amount secured by
the charge |
Rs.50.400 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per sanction letter Terms of
repayment As per sanction letter Margin As per sanction letter Extent and
operation of the charge As per sanction letter |
|
Short particulars
of the property charged (Including location of the property) |
Plot
No. L-2/1 in the Chikalthana Industrial Area , Aurangabad District,
Maharashtra, India |
|
Charge
identification number of the charge to be modified |
90243549 |
|
Date of
instrument modifying the charge |
05.08.2010 |
|
Particulars of the
present modification |
Release
of Bank's Charge on land and factory at Plot No. L-2/1 in the Chikalthana
Industrial Area , Aurangabad District,
Maharashtra, India |
FIXED ASSETS:
·
Land – Leasehold
·
Land – Freehold
·
Building
·
Plant and Machinery
·
Electric
Installation
·
Vehicles
·
Furniture and
Fixtures
·
Computers
·
Flats
·
Patents and Trade
Marks
·
Computer Software
WEBSITE DETAILS:
CORPORATE PROFILE:
In the initial years from 1969, the company
consolidated its position with a strong manufacturing and marketing
infrastructure.
From the year 1976, a
formulation plant with modern facility was set up at Aurangabad, followed by
units at Daman and Jammu.
Medley has state of
the art facilities maintaining high quality standards at every stage in
manufacturing process with strict adherence to the Good Manufacturing Practices
(GMP).
Subject is a
multidivisional and multi location organization. The company was founded in the
year 1969. It has strong presence in Pharmaceutical formulations. The
specialties include Hematinics, Anti ulcer drugs, Anti bacterial and
cardiovascular drugs. They specialise in Iron preparations, the mega brand
being R.B. Tone Syrup.
Medley ranks amongst
the top 40 pharmaceuticals companies in India as per ORG IMS.
Medley has its
manufacturing sites located at Daman and Jammu in India.
Medley has further
diversified into hospital products and diagnostics.
Medley believes that
quality is a continuous process and not an isolated stage in the process.
They have an
extensive distribution network across the country with 5 Depots, 17 C/Fs
and 1600 stockists which caters to the Retailers.
MILESTONES
First manufacturing operation in Aurangabad in 1976 for
tablets, capsules and liquid orals.
Second unit established in 1992 at Daman for liquid orals.
Third unit at Daman established in 1998 for tablets and
capsules which was later dedicated to Cephalosporin formulations.
Fourth unit established at Daman in 2000 for large volume
liquid orals.
Fifth unit established at Daman in 2002 for tablets and
capsules complying with international regulatory requirements.
A large manufacturing complex in Jammu in 2005 spread over
12.5 acres of land.
State of the art R&D centre established at Daman which
has received approval of Department of Science and Technology, Govt. of India
in 2006.
Medley received the well deserved accolade "WHO GMP
Certificate".
Medley was accredited as ISO - 9001: 2000 companies during
the year 2003, by American Quality Assessors (AQA).
Largest Brand R. B. Tone is number 2 in haematinic segment
as per ORG-IMS.
Brand O2 launched in 2005 is number 1 in the antidiarrhoeal
segment as per ORG-IMS.
Manufacturing sites are approved by WHO for 120 products and
Regulatory Agency of 10 other countries from the rest of the world.
Export to 23 countries in South East Asia, Africa, Middle
East, Russia and CIS.
2010-UK-MHRA Accreditation of Daman manufacturing unit.
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.45.03 |
|
|
1 |
Rs.74.43 |
|
Euro |
1 |
Rs.64.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
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 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
52 |
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.