MIRA
INFORM REPORT
|
Report Date : |
14.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
RATIOPHARM INDIA PRIVATE LIMITED |
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Registered Office : |
402, |
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Country : |
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Financials (as on) : |
31.12.2008 |
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Date of Incorporation : |
01.12.2000 |
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Com. Reg. No.: |
11-129835 |
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Capital Investment / Paid-up Capital : |
Rs. 500.000 Millions |
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CIN No.: [Company
Identification No.] |
U3311MH200FTC129835 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Pharma and Technical Services. |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (32) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 2200000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Ratiopharm International GmbH, The company can be considered for business dealings with some caution. |
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 (GENERAL DETAILS)
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Name : |
Ms. Bindu |
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Designation : |
Accountant |
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Contact No.: |
91-22-66412103 |
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Date : |
10.06.2011 |
LOCATIONS
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Registered
Office : |
402, |
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Tel. No.: |
91-22-66412100 |
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Fax No.: |
91-22-25705991 |
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E-Mail : |
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Websites : |
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Area : |
1000 Sq. ft |
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Location : |
Rented |
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Research and |
Plot No. A1, Phase – 1A’, Verna Industrial
Estate, “Salcette Verna, |
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Tel. No.: |
91-832-2887315/19 |
DIRECTORS
As on 10.06.2010
|
Name : |
Mr. Shyam Sobhraj Rohra |
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Designation : |
Managing Director |
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Address : |
4/A, 603, Powai Vihar Complex, Mumbai – 400076, |
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Date of
Birth/Age : |
12.04.1956 |
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Qualification : |
B.Tech, PGDM., LLB, DCA, PGDPLP |
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Date of
Appointment : |
01.12.2000 |
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DIN No.: |
00163318 |
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Name : |
Mr. Sanjay Khatau Asher |
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Designation : |
Director |
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Address : |
32, Mody Street, Mumbai - 400001, |
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Date of
Birth/Age : |
26.11.1963 |
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Date of
Appointment : |
01.12.2000 |
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DIN No.: |
00008221 |
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Name : |
Mr. Matthais John Escricht |
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Designation : |
Director |
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Address : |
Jahnufer 20, 89231, |
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Date of
Birth/Age : |
06.06.1949 |
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Date of
Appointment : |
17.03.2004 |
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DIN No.: |
01935116 |
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Name : |
Mr. Gerald Werner Huber |
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Designation : |
Director |
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Address : |
Neusatz 31, 73655, |
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Date of
Birth/Age : |
25.05.1966 |
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Date of
Appointment : |
01.08.2007 |
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DIN No.: |
01368981 |
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Name : |
Mr. Walter Viktor Buehl |
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Designation : |
Director |
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Address : |
AM, Steinach 9, 90518, |
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Date of
Birth/Age : |
10.04.1951 |
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Date of
Appointment : |
23.06.2009 |
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DIN No.: |
02272138 |
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Name : |
Mr. Oliver Thomas Windholz |
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Designation : |
Director |
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Address : |
Ortsteil Sp 76275 Ettlingen |
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Date of
Birth/Age : |
28.10.1966 |
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Date of
Appointment : |
23.06.2009 |
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DIN No.: |
02281370 |
KEY EXECUTIVES
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Name : |
Mr. Ramesh Ramchand Sadani |
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Designation : |
Secretary |
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Address : |
71-A, Collectors Colony, |
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Date of
Birth/Age : |
24.07.1966 |
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Date of
Appointment : |
29.03.2005 |
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PAN.: |
AAKPS6202Q |
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Name : |
Mr. Abhay |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.06.2010
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Names of Shareholders |
|
No. of Shares |
|
Ratiopharm International GMBH, |
|
49999990 |
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Ratiopharm GMBH, |
|
10 |
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Total |
|
50000000 |
As on 30.06.2010
Equity Share Break up (Percentage of Total Equity)
|
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 |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Pharma and Technical Services. |
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Exports : |
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Products : |
Pharma and Technical Services |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash |
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Purchasing : |
L/C, Cash |
PRODUCTION STATUS (As on 31.12.2008)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Tablets/ Capsules |
Nos |
40000000 |
32600000 |
GENERAL INFORMATION
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Customers : |
Corporates |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
Deutche Bank, |
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Facilities : |
Unsecured Loans
Note: Amount repayable within one year is Rs.
0.030 Million |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
BSR and Company Chartered Accountant |
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Address : |
KPMG House, Kamala Mills Compound, 448, Senapati Bapat Marg, Lower
Parel, Mumbai - 400013, Maharashtra, India |
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Tel. No.: |
91-22-39896000 |
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Fax No.: |
91-22-39836000 |
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PAN.: |
AAIFB0630K |
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Holding Company: |
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Fellow Subsidiary: |
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CAPITAL STRUCTURE
As on 10.06.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2008 |
31.12.2007 |
31.12.2006 |
|
|
SHAREHOLDERS FUNDS |
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1] Share Capital |
500.000 |
500.000 |
500.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
74.032 |
43.092 |
12.238 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
574.032 |
543.092 |
512.238 |
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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 |
187.150 |
85.000 |
181.000 |
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TOTAL BORROWING |
187.150 |
85.000 |
181.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
761.182 |
628.092 |
693.238 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
566.508 |
484.030 |
552.846 |
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Capital work-in-progress |
0.000 |
17.501 |
14.750 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
35.228 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
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|
Inventories |
|
4.466
|
4.680 |
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Sundry Debtors |
|
139.135
|
113.124 |
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Cash & Bank Balances |
194.674
|
9.893
|
20.789 |
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Other Current Assets |
|
0.000
|
0.000 |
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Loans & Advances |
|
165.870
|
101.484 |
|
Total
Current Assets |
|
319.364
|
240.077 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
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|
Sundry Creditors |
|
32.841 |
23.687 |
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Other Current Liabilities |
|
182.459
|
77.872 |
|
|
Provisions |
|
12.731
|
12.876 |
|
Total
Current Liabilities |
|
228.031
|
114.435 |
|
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Net Current Assets |
194.674
|
91.333
|
125.642 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
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TOTAL |
761.182 |
628.092 |
693.238 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2008 |
31.12.2007 |
31.12.2006 |
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SALES |
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Income |
|
|
436.600 |
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Other Income |
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TOTAL (A) |
525.083 |
452.192 |
434.600 |
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|
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Less |
EXPENSES |
|
|
|
|
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Office Expenses |
|
|
|
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Administrative Expenses |
|
251.848 |
211.525 |
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Advertising Expenses |
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TOTAL (B) |
467.594 |
251.848 |
211.525 |
|
|
|
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|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including Financial
and Depreciation Expenses) |
200.344 |
255.075 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
14.121 |
28.042 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
186.223 |
197.033 |
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
141.651 |
136.647 |
|
|
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|
|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
57.489 |
44.572 |
60.386 |
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Less |
TAX (H) |
26.549 |
11.863 |
18.606 |
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|
PROFIT AFTER TAX
(G-I) (I) |
30.940 |
32.709 |
41.780 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
43.092 |
12.238 |
[29.542] |
|
|
Less |
Transitional
Liability in respect of employees benefits |
NA |
1.855 |
0.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
74.032 |
43.092 |
12.238 |
|
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|
|
|
|
|
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|
|
EARNINGS IN
FOREIGN CURRENCY |
512.305 |
451.021 |
427.910 |
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2.456 |
0.229 |
0.151 |
|
|
|
Stores & Spares |
6.420 |
4.351 |
1.140 |
|
|
|
Capital Goods |
30.410 |
51.235 |
12.071 |
|
|
|
Others |
0.851 |
1.073 |
1.450 |
|
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TOTAL IMPORTS |
40.137 |
56.888 |
14.812 |
|
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|
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|
Earnings Per
Share (Rs.) |
0.62 |
0.65 |
--- |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2008 |
31.12.2007 |
31.12.2006 |
|
PAT / Total Income |
(%) |
5.89
|
7.23
|
9.61 |
|
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|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
5.55
|
7.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.08
|
0.12 |
|
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|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
NA
|
0.58
|
0.58 |
|
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|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
1.40
|
2.10 |
LOCAL AGENCY FURTHER INFORMATION
Contingent
Liabilities:
The Excise department of
Fixed Assets:
- Buildings
- Plant and Machinery
- Laboratory Equipment
- Computers
- Office Equipments
- Furniture and Fixtures
- Vehicles
AS PER WEBSITE
Profile:
Ratiopharm is
one of the leading international generics producer and in the home country
With about 750 medicines, available exclusively from pharmacies, ratiopharm has
one of the widest product ranges in the business. They sell 170 million
pack units every year, meeting the needs of virtually all areas of medicine,
from allergies to circulation problems and from gastroenteritis to toothaches.
Through the acquisition of research-based companies, they are now expanding the
capability as a supplier of complex therapy systems.
Founded in 1973, ratiopharm GmbH is now bringing its business model and
experience to international markets. In addition to its headquarters in
With more than 30 years of experience in the development and distribution of
high quality, low-cost pharmaceuticals, and nearly 750 products currently at
the approval stage, they are confident of achieving high growth in the coming
years.
Information for journalists
Ratiopharm India Private Limited with Authorized Equity Capital of Rs. 500.000
Millions is a wholly owned subsidiary of ratiopharm International GmbH,
ratiopharm India Private Limited inaugurated its Research and
Ratiopharm
ratiopharm
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.44.87 |
|
|
1 |
Rs.72.83 |
|
Euro |
1 |
Rs.64.37 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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.