MIRA
INFORM REPORT
|
Report Date : |
09.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
MICRO LABS
LIMITED |
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Registered Office : |
27, Race Course Road, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
07.09.1973 |
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Com. Reg. No.: |
08-002401 |
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Paid-up Capital : |
Rs. 252.000 Millions |
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CIN No.: [Company
Identification No.] |
U85110KA1973PLC002401 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRM02191A |
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Legal Form : |
A Closely Held
Public Limited Liability Company. |
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Line of Business : |
Manufacturers,
Importers, Exporters and Traders of pharmaceuticals, medicines and allied health
care products. |
RATING & COMMENTS
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MIRA’s Rating : |
A (67) |
|
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 32550000 |
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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 a reputed company having fine track.
Financial position of the company appears to be sound. Directors are reported
to be experienced and respectable businessman. 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 |
LOCATIONS
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Registered Office : |
27 , |
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Tel. No.: |
91-80-22370452 / 22370451 |
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Fax No.: |
91-80-22370463 / 22256323 |
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E-Mail : |
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Website : |
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Head Office : |
45/3, |
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Corporate Office : |
No. 303, A Wing,
Queens Corner Apartments, No. 3, Queens Road, Bangalore-560 001, |
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Tel. No.: |
91-80-22269609 / 22268785
/ 22267705 / 2088194-97 |
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Fax No.: |
91-80-22256323 /
22281627 |
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E-Mail : |
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Website : |
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Area : |
5000 Sq.ft
(Rented) |
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Factory 1 : |
92, Sipcot Industrial Complex, Hosur – 635 126, |
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Tel No: |
91-4344-276618 / 277261 |
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Factory 2 : |
RS 24/3 & 4, |
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Tel No: |
91-481-2640015 /
023 |
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Fax No: |
91-413-2644641 |
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Factory 3 : |
15/A, 2nd Phase, Kumbalgodu Industrial Area, |
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Tel No: |
91-80-8437351 |
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Factory 4 : |
S- 155/159, Verna
Industrial Estate, Verna, |
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Branches : |
Located at: Ř
Chennai
Ř
Ř
Ř
Ř
Kolkata Ř
Ř
Secunderabad Ř
Patana
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DIRECTORS
As on 27.09.2010
|
Name : |
Mr. Dilip Surana |
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Designation : |
Managing Director |
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Address : |
45/3, Fair Field Layout, |
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Date of Birth/Age : |
18.01.1967 |
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Date of Appointment : |
18.07.1994 |
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DIN : |
00083030 |
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Name : |
Mr. Anand Surana |
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Designation : |
Whole-time Director |
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Address : |
45/3, Fair Field Layout, |
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Date of Birth/Age : |
24.03.1971 |
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Date of Appointment : |
25.02.2003 |
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DIN : |
00192343 |
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Name : |
Ms. Archana Surana |
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Designation : |
Director |
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Address : |
45/3, Fair Field Layout, |
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Date of Birth/Age : |
12.07.1966 |
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Date of Appointment : |
04.07.2001 |
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DIN : |
00192551 |
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Name : |
Mr. Prasanna Subbarao |
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Designation : |
Director |
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Address : |
92, 17th |
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Date of Birth/Age : |
20.07.1948 |
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Date of Appointment : |
09.06.2007 |
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DIN : |
00084602 |
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Name : |
Ms. Monica Surana |
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Designation : |
Director |
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Address : |
45/3, Fair Field Layout, |
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Date of Birth/Age : |
02.07.1973 |
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Date of Appointment : |
03.03.2008 |
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DIN : |
00650023 |
KEY EXECUTIVES
|
Name : |
Mr. Yogesh Krishna Shenoy |
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Designation : |
Secretary |
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Address : |
51/16 20th Cross, 20th Main, Marena Halli,
Vijaynagar, Bangalore-560040, |
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Date of Birth/Age : |
26.09.1952 |
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Date of Appointment : |
21.03.2005 |
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PAN No.: |
AGTPS0938C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 27.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ghewarchand
Surana HUF - B |
|
950250 |
|
Dilip Surana |
|
2039625 |
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Dilip Surana HUF |
|
2777250 |
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Anand Surana |
|
4816875 |
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Bhawari Bai Surana |
|
4982250 |
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Archana Surana |
|
4816875 |
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Monica Surana |
|
4811625 |
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Anita Shiroya |
|
5000 |
|
Shailesh Shiroya |
|
250 |
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Total |
|
25200000 |
As On 27.09.2010
|
Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers,
Importers, Exporters and Traders of pharmaceuticals, medicines and allied
health care products. |
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Products : |
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GENERAL INFORMATION
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Bankers : |
·
Standard
Chartered Bank, Raheja Towers, 6th Floor, No. 26-27, M. G. Road, Bangalore
– 560001, Karnataka, India ·
Export
Import Bank of ·
Canara
Bank, Industrial Finance Branch, No. 83, ·
State
Bank of ·
Canara
Bank, Anna Nagar Branch, Chennai, Tamil ·
State
Bank of ·
IDBI
Bank, ·
ABN
Amro Bank ·
Barclays
Bank ·
IDBI
Limited, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dagliya and Company Chartered Accountant |
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Address : |
‘L’ Block Unity Building, |
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PAN No.: |
AAAFD6954E |
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Name : |
Ostawal and Jain Chartered Accountant |
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Address : |
No. 34, Keshava Nivas, 3rd Floor, 1st Main,
Gandhinagar, Bangalore-560009, |
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PAN No.: |
AAAFO2177L |
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Subsidiaries : |
Ř
Micro Infrastructure India Private Limited CIN : U45201KA2007PTC042509 Ř
DNR Corporation Private Limited CIN : U45201KA2007PTC044602 Ř
Micro Pharmaceuticals Ř
Micro Labs GMBH IG Ř
Brown and Burk ( |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
34000000 |
Equity Share |
Rs.10/- Each |
Rs. 340.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25200000 |
Equity Share |
Rs.10/- Each |
Rs. 252.000
Millions |
Note:
a) Of the above 19200000 equity shares of
Rs.5/-each were issued as fully paid up bonus shares by capitalization of
profits during 1999-00
b) Of the above 15120000 equity shares of
Rs.10/-each were issued as fully paid up bonus shares by capitalization of
profits pursuant to the resolution passed at Extra Ordinary General meeting
held on 23.12.2006
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 |
252.000 |
252.000 |
252.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7885.521 |
6147.580 |
4987.428 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8137.521 |
6399.580 |
5239.428 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2129.772 |
2539.590 |
2531.094 |
|
|
2] Unsecured Loans |
134.693 |
0.000 |
61.000 |
|
|
TOTAL BORROWING |
2264.465 |
2539.590 |
2592.094 |
|
|
DEFERRED TAX LIABILITIES |
50.245 |
43.720 |
62.402 |
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TOTAL |
10452.231 |
8982.890 |
7893.924 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3709.746 |
3613.739 |
3459.318 |
|
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Capital work-in-progress |
160.275 |
217.059 |
101.771 |
|
|
|
|
|
|
|
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INVESTMENT |
325.465 |
284.530 |
272.240 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2270.610
|
1966.046
|
1465.882 |
|
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Sundry Debtors |
2793.504
|
2858.901
|
3026.041 |
|
|
Cash & Bank Balances |
1445.867
|
428.276
|
229.055 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
2657.951
|
1894.159
|
1641.367 |
|
Total
Current Assets |
9167.932
|
7147.382 |
6362.345 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
1054.486
|
629.132
|
1709.608 |
|
|
Other current liabilities |
1167.480
|
1966.152
|
0.000 |
|
|
Provisions |
770.366
|
460.869
|
592.142 |
|
Total
Current Liabilities |
2992.332
|
3056.153
|
2301.750 |
|
|
Net Current Assets |
6175.600
|
4091.229
|
4060.595 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
FOREIGN CURRENCY MONETARY ITEMS |
81.145 |
776.333 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10452.231 |
8982.890 |
7893.924 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
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SALES |
|
|
|
|
|
|
|
Income |
12205.991 |
10190.195 |
8957.608 |
|
|
|
Other Income |
411.568 |
298.013 |
270.342 |
|
|
|
TOTAL (A) |
12617.559 |
10488.208 |
9227.950 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
4846.917 |
4065.060 |
3823.903 |
|
|
|
Manufacturing and other expenses |
542.056 |
459.879 |
377.567 |
|
|
|
Personnel Cost |
1711.773 |
1492.642 |
1186.263 |
|
|
|
Administrative Expenses |
540.300 |
755.200 |
246.956 |
|
|
|
Selling and Distribution Expenses |
1791.513 |
1523.549 |
1474.474 |
|
|
|
Research and Development Expenses |
124.187 |
81.677 |
114.991 |
|
|
|
TOTAL (B) |
9556.746 |
8378.007 |
7224.154 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3060.813 |
2110.201 |
2003.796 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
85.299 |
197.379 |
203.016 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2975.514 |
1912.822 |
1800.780 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
413.161 |
421.441 |
357.381 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2562.353 |
1491.381 |
1443.399 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
450.014 |
175.911 |
206.156 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
2112.339 |
1315.470 |
1237.243 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
300.000 |
200.000 |
200.000 |
|
|
|
Proposed Dividend |
252.000 |
0.000 |
201.600 |
|
|
|
Interim Dividend |
0.000 |
201.600 |
0.000 |
|
|
|
Tax on Dividend |
41.854 |
34.262 |
34.262 |
|
|
BALANCE CARRIED
TO THE B/S |
1518.485 |
879.608 |
801.381 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Fob Value of Export |
4099.316 |
3468.731 |
NA |
|
|
TOTAL EARNINGS |
4099.316 |
3468.731 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1082.328 |
705.419 |
629.600 |
|
|
|
Stores & Spares |
37.954 |
30.241 |
26.621 |
|
|
|
Capital Goods |
50.461 |
65.845 |
89.394 |
|
|
TOTAL IMPORTS |
1170.743 |
801.505 |
745.615 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
83.82 |
52.20 |
49.1 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
16.74
|
12.54
|
13.41 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
20.99
|
14.64
|
16.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.90
|
13.86
|
14.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.23
|
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.65
|
0.87
|
0.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.06
|
2.34
|
2.76 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered Office
Of The Company Has Been Shifted From No.303, 3rd Floor, A Wing,
Queens Corner Apartments No.3,
OPERATTIONAL
REVIEW:
The company maintained its leadership position in the pharmaceutical
market with net sales registering a growth of 19.78% compared to the previous
year. Profit after tax increased by 60.58% increased sales of performance in
all of the company’s therapeutic segments including exports helped in achieving
the robust growth both in terms of sales and the profitability.
Despite the economic downfall in the previous fiscal, the pharmaceutical
industry has shown a significant growth of over 8% according to ORG-IMS data,
while the global pharma market grew at 5.3%. the growth has been mainly due to
considerable government stimulus in investment and strong macro-economic
parameters like per disposable income, inflation, etc.
The company has shown an admirable performance during the year. It ranks
20 as of march 2010 amongst the top 300 companies in the Indian pharmaceutical
industry. The company has risen by 2 ranks, as compared to the previous year.
The Company received many accolades during this period which are
highlighted herein under:
HIGHLIGHTS:
- The company
won “Company Of The Year” in “Pharmaceutical Leadership Summit” and bagged
“INDIAN DRUG MANUFACTURER ASSOCIATION” (IDMA) award in 2009.
- The company
also won the IDMA awards for “quality excellence award” for the year 2010
for its plans at :
Baddi – Gold
Eye Drop Plant at
Bommasandra – Silver
Cephalosporin
plant at Bommasandra – Silver
3 Manufacturing facilities at Hosur, ‘eye
drop’ plant at Bommansandra and Veersandra plant received the approval of MHRA
4 The company’s brand “DOLO” marked annual slaes
of Rs.284.800 millions with enormous growth rate of 39%. This elevated the
brand to reach a stupendous 210th rank (vs 270th last
fiscal). In terms of prescriptions, DOLO is ranked no.1 in south zone.
5 During the year the company has undertaken
“Operation Lakshya” to evaluate current product portfolio structure, determine
key focus therapeutic categories and identify new product introduction for the
next few years.
6 During the period, the company launched
various new products namely Gemitab, Ebast-DT, Osmitol, Tolsafe, Maxpride,
Microtol, And Rapidon, Flumace, Micros P2, Microtype, Del-Metic, Divas,
Melcovit Gold, Niacin And Nicovas.
INTERNATIONAL OPERATIONS:
International Sales
turnover grew by 16.75% over the previous year, inching towards the US $ 100 million mark. International business in
the Regulated market is being augmented by 10 EU Approvals, 8 pending MA's. We
plan to file 10 more MA's, thus making the total product basket of 28MA's by
end this fiscal year.
The Company
successfully filed 9 ANDA's and awaiting for the tentative grant of few more
ANDA's during the current year from USFDA. The year under review has been the
year marked with successful achievement of MHRA approval of the OpthaImic and
injectable production limes of our Sterile Opthalmic facility at Bommasandra
Unit.
This year envisaged
the start of new API business, kick starting the vertical integration process.
In-house developed API's were utilized in our development of finished dosage
forms. Full pledged Regulatory Team dedicated to API is put in place and 10
Dm's were lined up to be submitted to EDQM, USFDA, Health Canara and MHL W
(Japan). With ongoing
PROSPECTS:
Indian
Pharmaceutical market is practically the second highest growth amongst all the
Pharmerging markets which is also the reason, of it being a market of choice
for both global and local players. The factors that lead to the growth were
Companies that were expanding into newer geographies, smaller towns and cities,
newer therapies, high growing rate of hospitals, newer molecules and focus on
brand building.
According to the IMS
Prognosis Report (2009), the Indian Pharmaceutical Market is expected to grow
at about 15% in the next 5 years, resulting in a lot of excitement and
increasing opportunities and competition in the market place. Companies will
have to adopt unique strategies to grow and maintain their market share.
Productivity Improvement,
Brand Building, Building relations with key customers and Execution Excellence
will pave the way for achieving the road map for the Company to reach 1 Billion
US$ mark by 2013-14. Launch of new products with high potentials and with the
renewed focus on the existing Brands, your Company is set to achieve this.
New Projects:
The Company has
embarked upon setting up new facilities at:
1. Goa- involving
capital investment of Rs. 800 Millions to manufacture oral solid dosage forms
to add new capacity of 2 billion tablets per mum for the regulated
market.
2.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24232KA1973PLC002401 |
|
Name of the
company |
MICRO LABS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
27, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10261785 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Standard Chartered
Bank, Raheja Towers, 6th Floor, No. 26-27, M. G. Road, Bangalore –
560001, Karnataka, India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
entry Declaration (Both the
documents relate ti the same modification) |
|
Date of
instrument Creating the charge |
21.01.2011 |
|
Amount secured by
the charge |
Rs.920.000
million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As agreed and
negotiated Terms of
Repayment Repayable on
demand Margin As applicable Extent and
Operation of the charge Charge extends by
way of first charge on all the assets throughout the period of sanctioned
limits. |
|
Short particulars
of the property charged |
EM on co's
immovable properties situated at Plot of land No. N1, property known as Verna
Industrial Estate, bearing Sy. No. 33 of Verna Village and situated within
the Village Panchayat limits of Verna Taluka Salcete District South Gao and
Gao State admeasuring 51,500 Sq mts |
|
Date of latest
modification prior to the present modification |
09.12.2010 |
|
Particulars of
the present modification |
Total limits remains unchanged at Rs. 920.000 millions. EM on co's immovable properties situated at Land No. N1, property known as Verna Industrial Estate, bearing Sy. No. 33 of Verna Village and situated within the Village Panchayat limits of Verna Taluka Salcete District South Gao and Gao State admeasuring 51,500 Sq mts. All other terms, conditions & existing securities to continue. |
FIXED ASSETS:
Ř
Land
Ř
Factory and Other Building
Ř
Ř
Plant and Machinery
Ř
Electrical Installations
Ř
Material Handling Equipments
Ř
Air conditioner
Ř
Boilers and Generators
Ř
Effluent Treatment Plant
Ř
Weighing Balances
Ř
Furniture and Fixtures
Ř
General Ventilation Systems
Ř
Laboratory Equipment
Ř
Office Equipments
Ř
Pollution Control Equipments
Ř
Refrigerators
Ř
Trade Marks
Ř
Computer
Ř
Vehicle
AS PER WEB DETAILS:
PROFILE:
Healthcare and Beyond
Subject with its associate companies is a multi-faceted drug
manufacturing organization with 14 production sites that include 11 in and around
Subject was established in the year 1973, with an objective of providing quality healthcare products at affordable prices by Late Mr. G.C. Surana. Now, under the leadership of Mr. Dilip Surana (Chairman and Managing Director) and Mr. Anand Surana (Director), it is a diversified pharmaceuticals manufacturing company with products ranging from oral solids, oral liquids, topicals to injectables. With dedicated plants for penicillin and non-penicillin categories, Micro Labs has been ranked 21 on sales and 10th on Prescription by IMS in the Indian Pharmaceutical Industry.
With a constant aim to excel, the inspiration of the company is to exceed expectations globally, placing quality and efficiency at the top end of company values.
The Micro Group has been contributing significantly to the healthcare needs of the domestic market for more than three decades. Growing rapidly in Indian Pharmaceutical Market, it is well poised to achieve unparalleled status in the international market through business expansion plans.
NEW
MICRO LABS
LAUNCHES BOOK ON DIABETES FOR DOCTORS ACROSS
On 3rd January, 2010, Micro Labs Limited launched a book “Diabetes
Care in
The book is authored by luminaries in the field of diabetes care from
across the country & published by an editorial panel headed by Dr. Prof. B
M Jayaram as Editor-in-chief. The other members of the editorial team include
Dr. Prof. A.K. Das, Dr. Prof. N.R. Rau and Dr. Kashinath Dixit.
This book interests its readers with lifestyle problems such as
consumption of junk food, over eating, lack of physical exercise, genetic factors,
obesity including childhood obesity, over indulgence of alcohol, chronic
smoking and stress and strain of modern life that are leading to increased
incidence of type 2 diabetes.
Speaking on this initiative Dr. B M Jayaram, Editor-in-chief said
“A good number of Diabetologists of reputation have contributed to this
book. We should get prepared for proper diagnosis, management and accuracy of
treatment so that the working capacity of the individual is not lost in the
country’s interest. Our insights have been thoughtfully expressed and we hope
this book will be highly informative”.
Discussing further on the book, Dr. Prof. A. K. Das from the
Editorial committee said “These 10 volumes represent a useful compendium of
Diabetes over the last 10 years. We do hope to contribute more in the coming
years”.
The first of the series of this book was launched by Micro Labs Ltd in
the year 2002, with an objective to educate and enhance young doctors’ interest
and knowledge in Diabetology. Since then, the company has released one edition
every year enriching the company’s interest to continue this exercise.
Speaking on Micro’s interest in the book Mr. Ashok Jain, Executive
Director, Micro Labs Ltd said “Micro is deeply interested in instituting
The first book titled, “Type 2 Diabetes: The Indian Scenario 2025?” was
received well from the doctor community and we went on to bring out the following
publications which include 2003: Newer Horizons in Type 2 Diabetes; 2004: Type
2 Diabetes: Urban-Rural; 2005: Type 2 Diabetes in the Elderly; 2006: Type 2
Diabetes & the role of Insulin Resistance; 2007: Diabesity; 2008:Type 2
Diabetes & its Complications: A Preventive Program; 2009: Type 2 Diabetes
in Children & Adolescents; 2010 : Controversies in type 2 Diabetes
The Company plans to play a very active role in the prevention and
management of Diabetes in
About Micro Labs Limited
Micro Labs Limited was established in the year 1973, by the Late. Mr. G.
C. Surana with an objective of providing quality healthcare products at an
affordable cost.
Micro Labs has 14 manufacturing plants. The stat e-of-the-art cGMP
compliant dedicated manufacturing facilities cater to the domestic and export
markets. The formulation manufacturing units are located in the states of
Karnataka, Tamil Nadu,
It has a strong presence in domestic market in Cardiology, Diabetology,
Neuropsychiatry, Dermatology, Ophthalmology, Antimicrobial Therapy and pain
management. Micro Labs has recently entered the Nephrology segment. Micro Labs
has four overseas offices, and has invested in creating five subsidiaries in
the International markets. (
Micro Labs recently won the “Best Managed Brand” Award by CMARC for its
highly prescribed brand ‘Dolo’ and also won 4 Quality Excellence awards by IDMA
for its manufacturing plants at Goa, Baddi and Bommasandra (Bangalore).
Micro Labs is committed to the cause of social welfare and wellbeing of
the mankind. The company has set-up an educational institution to provide
quality education to the deserving and needy. The Surana group of Colleges
offers courses in arts, science, commerce, Jainology and computer applications
besides a PG Centre for Management Studies
For further clarifications please call:
Mr. G. Jayaraj, Sr. V.P. Marketing & Corporate Communication –
9342451390
Ms. Shilpa Hombal, Manager – Corporate Communication – 080 – 22370451 –
54 (Extn: 267)
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.44.78 |
|
|
1 |
Rs.73.42 |
|
Euro |
1 |
Rs.62.27 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
67 |
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.