MIRA
INFORM REPORT
|
Report Date : |
18.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
PANACEA BIOTEC LIMITED (w.e.f. 07.09.2003) |
|
|
|
|
Formerly Known
As : |
PANACEA DRUGS LIMITED (w.e.f. 09.09.1993) PANACEA DRUGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Ambala – |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.02.1984 |
|
|
|
|
Com. Reg. No.: |
16-22350 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.61.250 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L33117PB1984PLC022350 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP07035A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP5335J |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and Marketer of Pharmaceutical Formulations viz. Tablets, Syrups/ Liquids, Capsules, Gels and Vaccines. |
|
|
|
|
No. of Employees
: |
3600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 25000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for normal 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Ambala – Chandigarh Highway, Lalru – 140501, Punjab, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head/ Corporate Office 1: |
B 1 Extension / A-27, Mohan Cooperative Industrial Estate, Mathura Road, New Delhi – 110 044, India |
|
Tel. No.: |
91–11–26945270/ 41679000 Extn. 2081 (D) 41578024 / 26974500 / 41678000 |
|
Fax No.: |
91–11–26940199/ 26940621 / 41679075 / 41679070 / 41679081 |
|
E-Mail : |
panbio.panbio@rme.sprintrpg.ems.vsnl.net.in |
|
Website : |
|
|
|
|
|
Administrative/ Secretarial/ Corporate Office 2: |
B – 1 Extension / G – 3, Mohan Co-Operation Industrial
Estate, |
|
Tel. No.: |
91-11-41679000 Extn. 2081, (D) 41578024/ 41679015 |
|
Fax No.: |
91-11-41679070/ 41679075 |
|
E-mail: |
|
|
|
|
|
Manufacturing Facilities : |
· Ambala-Chandigarh Highway, Lalru – 140 501, Punjab, India · A-239 -242, Okhla Indl. Area, Phase–I, New Delhi – 110 020, India · Malpur, Baddi, Dist. Solan, Himachal Pradesh-173 205, India · B-1/E-12, Mohan Co-operative Industrial Estate, Mathura Road, New Delhi – 110 044, India · Plot No. 72/3, Gen Block, T.T.C. Industrial Area, Mahape, Navi Mumbai - 400 710, Maharashtra, India |
|
|
|
|
Branch/ Sales and Marketing Office : |
701, |
|
|
|
|
R & D Centers : |
·
· B-1/E-xtn. A-24-25,, Mohan Co-operative Industrial Estate Mathura Road, New Delhi – 110044, India ·
Plot No. E-4, Phase II, Industrial Area Mohali
– 160055, · Plot No. 72/3, Gen Block, T.T.C. Industrial Area, Mahape, Navi Mumbai – 400710, Maharashtra, India |
DIRECTORS
AS ON 24.09.2011
|
Name : |
Mr. Soshil Kumar Jain |
|
Designation : |
Whole-time director |
|
Address : |
18/56, East Park Area, Karol Bagh, New Delhi – 110005, India |
|
Date of Birth/Age : |
04.04.1933 |
|
Qualification : |
Pharmacist |
|
Date of Appointment : |
02.02.1984 |
|
DIN No.: |
00012812 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L33117PB1984PLC022350 |
PANACEA
BIOTEC LIMITED |
Whole-time
director |
1/4/2011 |
2/2/1984 |
- |
Active |
NO |
|
2 |
U24239DL1986PLC023296 |
NEOPHAR
ALIPRO LIMITED |
Director |
1/5/1999 |
1/5/1999 |
- |
Active |
NO |
|
3 |
U24231DL1999PTC102557 |
PANERA
BIOTEC PRIVATE LIMITED |
Nominee
director |
26/11/1999 |
26/11/1999 |
- |
Active |
NO |
|
4 |
U70109DL2011PTC220375 |
WHITE
PIGEON ESTATE PRIVATE LIMITED |
Director |
6/6/2011 |
6/6/2011 |
- |
Active |
NO |
|
5 |
U40101HP2011PTC031700 |
ADVETA
POWER PRIVATE LIMITED |
Director |
4/7/2011 |
4/7/2011 |
- |
Active |
NO |
|
Name : |
Mr. Ravinder Jain |
|
Designation : |
Managing Director |
|
Address : |
18/56, East Park Area, Karol Bagh, New Delhi – 110005, India |
|
Date of Birth/Age : |
03.08.1957 |
|
Qualification : |
Matriculate |
|
Date of Appointment : |
15.11.1984 |
|
DIN No.: |
00010101 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L33117PB1984PLC022350 |
PANACEA
BIOTEC LIMITED |
Managing
director |
1/4/2011 |
15/11/1984 |
- |
Active |
NO |
|
2 |
U70101DL1995PTC064316 |
OKI
ESTATES PRIVATE LIMITED |
Director |
20/02/1995 |
20/02/1995 |
- |
Active |
NO |
|
3 |
U15122DL2007PLC170999 |
BEST
ON HEALTH FOODS LIMITED |
Director |
3/12/2007 |
3/12/2007 |
- |
Active |
NO |
|
4 |
U66030DL2008PLC178669 |
BEST
GENERAL INSURANCE COMPANY LIMITED |
Director |
27/05/2008 |
27/05/2008 |
- |
Active |
NO |
|
5 |
U67120DL2008PLC178922 |
LAKSHMI
AND MANAGER HOLDINGS LIMITED. |
Managing
director |
3/9/2008 |
2/6/2008 |
28/07/2011 |
Active |
NO |
|
6 |
U74899DL1995PTC068391 |
TRINIDHI
FINANCE PRIVATE LIMITED |
Additional
director |
29/07/2011 |
29/07/2011 |
8/11/2011 |
Active |
NO |
|
Name : |
Dr. Rajesh Jain |
|
Designation : |
Managing Director |
|
Address : |
18/56, East Park Area, Karol Bagh, New Delhi – 110005, India |
|
Date of Birth/Age : |
26.04.1964 |
|
Qualification : |
B.Sc., MBA, PGDBM,
Advanced Management Diploma in Market Research |
|
Date of Appointment : |
25.11.2006 |
|
DIN No.: |
00013053 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L33117PB1984PLC022350 |
PANACEA
BIOTEC LIMITED |
Managing
director |
1/4/2011 |
15/11/1984 |
- |
Active |
NO |
|
2 |
U24231DL1999PTC102557 |
PANERA
BIOTEC PRIVATE LIMITED |
Managing
director |
22/08/2011 |
26/11/1999 |
- |
Active |
NO |
|
3 |
U74899DL1995PLC068967 |
BEST
ON HEALTH LIMITED |
Managing
director |
20/04/2002 |
20/04/2002 |
10/8/2007 |
Active |
NO |
|
4 |
U24230MH2004PTC147790 |
CHIRON
PANACEA VACCINES PRIVATE LIMITED |
Nominee
director |
22/11/2004 |
22/11/2004 |
- |
Active |
NO |
|
5 |
U85110DL2002PTC114987 |
NEWRISE
HEALTHCARE PRIVATE LIMITED |
Director |
16/08/2008 |
30/06/2008 |
- |
Active |
NO |
|
6 |
U70109DL2011PTC220375 |
WHITE
PIGEON ESTATE PRIVATE LIMITED |
Director |
6/6/2011 |
6/6/2011 |
- |
Active |
NO |
|
7 |
U40101HP2011PTC031700 |
ADVETA
POWER PRIVATE LIMITED |
Nominee
director |
4/7/2011 |
4/7/2011 |
- |
Active |
NO |
|
Name : |
Mr. Sandeep Jain |
|
Designation : |
Managing Director |
|
Address : |
18/56, East Park Area, Karol Bagh, New Delhi – 110005, India |
|
Date of Birth/Age : |
17.07.1966 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
15.11.1984 |
|
DIN No.: |
00012973 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L33117PB1984PLC022350 |
PANACEA
BIOTEC LIMITED |
Managing
director |
1/4/2011 |
15/11/1984 |
- |
Active |
NO |
|
2 |
U24239DL1986PLC023296 |
NEOPHAR
ALIPRO LIMITED |
Director |
1/5/1999 |
1/5/1999 |
- |
Active |
NO |
|
3 |
U74899DL1995PLC068967 |
BEST
ON HEALTH LIMITED |
Director |
22/03/2001 |
22/03/2001 |
19/10/2007 |
Active |
NO |
|
4 |
U24231DL1999PTC102557 |
PANERA
BIOTEC PRIVATE LIMITED |
Director |
30/09/2011 |
27/12/2010 |
- |
Active |
NO |
|
Name : |
Mr. Sumit Jain |
|
Designation : |
Whole-time director |
|
Address : |
18/56, East Park Area, Karol Bagh, New Delhi – 110005, India |
|
Date of Birth/Age : |
07.02.1981 |
|
Qualification : |
Post Graduate Diploma in Business Management |
|
Date of Appointment : |
27.07.2005 |
|
DIN No.: |
00014236 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL1993PLC056682 |
RADICURA
AND COMPANY LIMITED |
Director |
1/4/1999 |
1/4/1999 |
- |
Active |
NO |
|
2 |
U74899DL1995PLC068967 |
BEST
ON HEALTH LIMITED |
Director |
15/03/2000 |
15/03/2000 |
22/10/2007 |
Active |
NO |
|
3 |
U24230MH2004PTC147790 |
CHIRON
PANACEA VACCINES PRIVATE LIMITED |
Nominee
director |
22/11/2004 |
22/11/2004 |
- |
Active |
NO |
|
4 |
L33117PB1984PLC022350 |
PANACEA
BIOTEC LIMITED |
Whole-time
director |
22/07/2010 |
22/07/2005 |
- |
Active |
NO |
|
5 |
U24231DL1999PTC102557 |
PANERA
BIOTEC PRIVATE LIMITED |
Director |
30/09/2011 |
27/12/2010 |
- |
Active |
NO |
|
6 |
U70109DL2011PTC220375 |
WHITE
PIGEON ESTATE PRIVATE LIMITED |
Director |
6/6/2011 |
6/6/2011 |
- |
Active |
NO |
|
Name : |
Mr. Raghava Lakshmi Narasimhan |
|
Designation : |
Director |
|
Address : |
Flat No.6, Plot No.858, New No.3, Paneer Selvam Salai, K K nagar, Chennai – 600078, India |
|
Date of Birth/Age : |
01.10.1940 |
|
Date of Appointment : |
31.01.2001 |
|
DIN No.: |
00073873 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L33117PB1984PLC022350 |
PANACEA
BIOTEC LIMITED |
Director |
31/01/2001 |
13/01/2001 |
- |
Active |
NO |
|
2 |
U74899DL1995PLC068967 |
BEST
ON HEALTH LIMITED |
Director |
26/09/2008 |
1/1/2008 |
- |
Active |
NO |
|
3 |
U80212DL2011NPL223526 |
BLUE
SURMOUNT EDUCATION |
Director |
10/8/2011 |
10/8/2011 |
- |
Active |
NO |
|
Name : |
Mr. Namdeo Narayan Khamitkar |
|
Designation : |
Director |
|
Address : |
3, Krishna Kunj Apartments, 42 Shantisheela Society, Law College Road,
Pune – 411004, Maharashtra, India |
|
Date of Birth/Age : |
02.12.1940 |
|
Date of Appointment : |
31.01.2006 |
|
DIN No.: |
00017154 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L33117PB1984PLC022350 |
PANACEA
BIOTEC LIMITED |
Director |
31/01/2001 |
31/01/2001 |
- |
Active |
NO |
|
2 |
U74899DL1995PLC068967 |
BEST
ON HEALTH LIMITED |
Director |
26/09/2008 |
1/1/2008 |
- |
Active |
NO |
|
3 |
U80212DL2011NPL223526 |
BLUE
SURMOUNT EDUCATION |
Director |
10/8/2011 |
10/8/2011 |
- |
Active |
NO |
|
Name : |
Mr. Sunil Kapoor |
|
Designation : |
Director |
|
Address : |
W-155, Greater Kailash, Part – II, New Delhi – 110045, India |
|
Date of Birth/Age : |
25.01.1957 |
|
Date of Appointment : |
31.01.2001 |
|
DIN No.: |
00029133 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U52110DL1989PLC035268 |
GOLDEN
PEAKOCK OVERSEAS LIMITED |
Director |
1/12/2000 |
1/12/2000 |
- |
Active |
NO |
|
2 |
L33117PB1984PLC022350 |
PANACEA
BIOTEC LIMITED |
Director |
31/01/2001 |
31/01/2001 |
- |
Active |
NO |
|
3 |
U74899DL1987PTC026914 |
RESIDENCY
RESORTS PRIVATE LIMITED |
Director |
23/03/2001 |
23/03/2001 |
- |
Active |
NO |
|
4 |
U74899DL1995PTC074997 |
INDO-DAN
LAMPSHADES PRIVATE LIMITED |
Director |
30/01/2002 |
30/01/2002 |
- |
Active |
NO |
|
5 |
U51505DL2003PLC118428 |
GPL
EXPORTS LIMITED |
Director |
10/1/2003 |
10/1/2003 |
- |
Active |
NO |
|
6 |
L00000HP1994PLC014770 |
HITKARI
INDUSTRIES LIMITED |
Director |
31/10/2005 |
31/10/2005 |
15/09/2009 |
Active |
NO |
|
7 |
U45201DL2005PTC138865 |
BIKMAN
CONSTRUCTIONS PRIVATE LIMITED |
Director |
21/08/2006 |
21/08/2006 |
- |
Active |
NO |
|
8 |
U74900DL1996PTC078456 |
SPARK
HEALTHLINE PRIVATE LIMITED |
Additional
director |
1/8/2007 |
1/8/2007 |
15/12/2007 |
Active |
NO |
|
9 |
U74899DL1995PLC068967 |
BEST
ON HEALTH LIMITED |
Director |
26/09/2008 |
1/1/2008 |
- |
Active |
NO |
|
10 |
U55101DL2008PTC175831 |
RESIDENCY
HOSPITALITY SERVICES PRIVATE LIMITED |
Director |
25/03/2008 |
25/03/2008 |
- |
Active |
NO |
|
11 |
U74899DL1966PLC004620 |
HITKARI
POTTERIES LIMITED |
Director |
15/12/2010 |
15/12/2010 |
- |
Active |
NO |
|
12 |
L26914DL1987PLC028418 |
HITKARI
CHINA LIMITED |
Director |
15/12/2010 |
15/12/2010 |
- |
Active |
NO |
|
Name : |
Mr. Krishna Murari Lal |
|
Designation : |
Director |
|
Address : |
706-A, Sector – 23, Huda, Gurgaon – 122017, Haryana, India |
|
Date of Birth/Age : |
22.06.1940 |
|
Date of Appointment : |
28.04.2006 |
|
DIN No.: |
00016166 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U67190WB1998PLC087155 |
SREI
CAPITAL MARKETS LIMITED |
Director |
30/08/2002 |
30/08/2002 |
- |
Active |
NO |
|
2 |
U70101WB1996PLC079404 |
P D
GLOBAL CAPITAL LIMITED |
Director |
29/07/2004 |
29/07/2004 |
2/5/2008 |
Active |
NO |
|
3 |
L33117PB1984PLC022350 |
PANACEA
BIOTEC LIMITED |
Director |
28/04/2005 |
28/04/2005 |
- |
Active |
NO |
|
4 |
L27106WB1959PLC024177 |
HINDUSTAN
WIRES LIMITED |
Director |
26/07/2005 |
26/07/2005 |
- |
Active |
NO |
|
5 |
L17299GJ1993PLC032905 |
POLYLINK
POLYMERS (INDIA) LIMITED |
Director |
30/07/2005 |
30/07/2005 |
- |
Active |
NO |
|
6 |
L17111TN1990PLC019791 |
GEM
SPINNERS INDIA LIMITED |
Director |
23/09/2005 |
23/09/2005 |
- |
Active |
NO |
|
7 |
L65993WB1979PLC032113 |
RAMSARUP
INDUSTRIES LIMITED |
Director |
18/05/2006 |
18/05/2006 |
- |
Active |
NO |
|
8 |
U85110KA1995PLC017324 |
GEM
SUGARS LIMITED |
Director |
31/03/2007 |
31/03/2007 |
- |
Active |
NO |
|
9 |
U74900DL2010PTC200351 |
KMC
ENERGY PRIVATE LIMITED |
Director |
18/03/2010 |
18/03/2010 |
- |
Active |
NO |
|
10 |
U11100WB2011PLC161021 |
SANKALP
OIL AND NATURAL RESOURCES LIMITED |
Director |
22/03/2011 |
22/03/2011 |
- |
Active |
NO |
|
11 |
U74140DL1996PTC082224 |
LEXICON
PUBLIC RELATIONS AND CORPORATE CONSULTANTS PRIVATE LIMITED |
Director |
29/09/2011 |
1/7/2011 |
- |
Active |
NO |
|
Name : |
Mr. Aditya Narain Saksena |
|
Designation : |
Director |
|
Address : |
Flat No. B-9012, B-Block, Guar Green City, Indirapuram, Ghaziabad –
201010, Uttar Pradesh, India |
|
Date of Birth/Age : |
07.05.1938 |
|
Date of Appointment : |
22.12.2005 |
|
DIN No.: |
00016107 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74140DL1997PTC087822 |
POSSIBILITIES
CONSULTANTS PRIVATE LIMITED |
Director |
21/02/2000 |
21/02/2000 |
- |
Strike
off |
NO |
|
2 |
L33117PB1984PLC022350 |
PANACEA
BIOTEC LIMITED |
Director |
22/12/2005 |
22/12/2005 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Vinod Goel |
|
Designation : |
Secretary and General Manager |
|
Address : |
House No.173, Sector - 4, Vaishali, Ghaziabad – 201010, Uttar Pradesh,
India |
|
Date of Birth/Age : |
08.02.1965 |
|
Date of Appointment : |
13.01.1999 |
|
PAN No.: |
AHBPG9784H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2012
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
|
|
|
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
43,510,100 |
71.04 |
|
|
2,313,454 |
3.78 |
|
|
2,313,454 |
3.78 |
|
|
45,823,554 |
74.81 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
45,823,554 |
74.81 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
34,884 |
0.06 |
|
|
1,895,409 |
3.09 |
|
|
1,930,293 |
3.15 |
|
|
|
|
|
|
10,094,430 |
16.48 |
|
|
|
|
|
|
3,223,750 |
5.26 |
|
|
135,000 |
0.22 |
|
|
43,719 |
0.07 |
|
|
43,719 |
0.07 |
|
|
13,496,899 |
22.04 |
|
Total Public
shareholding (B) |
15,427,192 |
25.19 |
|
Total (A)+(B) |
61,250,746 |
100.00 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
-- |
-- |
|
|
-- |
-- |
|
|
-- |
-- |
|
|
-- |
-- |
|
Total
(A)+(B)+(C) |
61,250,746 |
-- |
(1) Indian
Individuals / Hindu Undivided Family
Partnership FirmsBUSINESS DETAILS
|
Line of Business : |
Manufacturer and Marketer of Pharmaceutical Formulations
viz. Tablets, Syrups/ Liquids, Capsules, Gels and Vaccines. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS
AS ON 31.03.2011
Licensed Capacity
Per annum
Recombinant Bulk Vaccine – 18 millions doses
|
Particulars |
Unit |
Installed
Capacity per annum |
|
Tables |
Nos./Million |
1684.000 |
|
Capsules |
Nos. / Million |
370.000 |
|
Syrups / Liquids |
Bottles /
Million |
15.800 |
|
Gels |
Tubes/ Million |
21.200 |
|
Vaccines (Finished Doses) |
Doses / Million |
878.000 |
|
Pre-filled Syringes |
Doses / Million |
17.000 |
|
Recombinant Bulk Vaccines ** |
Doses / Million |
18.000 |
|
Tetanus Bulk Vaccines |
Doses / Million |
75.000 |
|
Bacterial Bulk Vaccines *** |
Doses / Million |
68.800 |
|
Block - IV **** |
|
|
|
Cell Culture Block |
Doses / Million |
8.000 |
|
Recombinant Bulk Vaccine |
Doses / Million |
18.000 |
|
Flu Bulk Vaccine Block |
Doses / Million |
63.500 |
NOTE
*As Certified by the management.
**This facility is capable of manufacturing various Bulk Vaccines and Antigens including Hepatitis B (Hep B), Haemophilus Influenza Type B (HIB-TT) and other vaccines.
***Bacterial Bulk Vaccine facility is capable of manufacturing various bulk vaccines including Diptheria (D), Whole Cell Pertussis (wP), Acellular Pertussis (aP). Installed Capacity reduces by 5 million doses to 63.8 million doses in case of production of Acellular Pertussis (aP).
****Cell Culture facility is capable of manufacturing various bulk vaccines and biopharmaceuticals. Recombinant Bulk Vaccine facility is capable of manufacturing of Hepatitis B (Hep-B), Haemophilus Influenza Type B (HIB-TT) and other vaccines. Flu Bulk Vaccine facility is capable of manufacturing of H1N1 and other flu bulk vaccines.
|
Particulars |
Unit |
Actual
Production |
|
Tables ** |
Nos. |
625.600 |
|
Capsules |
Nos. |
95.000 |
|
Syrups / Liquids |
Ml |
334.700 |
|
Gels |
Gms |
52.900 |
|
Vaccines |
Vials |
60.300 |
|
Pre-filled Syringes |
PFS |
2.100 |
|
Injection |
Nos. |
0.500 |
|
Other Products |
Gms. |
43.300 |
Note:
* Actual production includes production at
loan licensee locations meant for sale by the company
** Actual production includes 258.7 Million
Tables manufactured for other under loan licenses basis.
GENERAL INFORMATION
|
No. of Employees : |
3600 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Axis Bank Limited ·
Bank of India ·
IDBI Bank Limited ·
Indian Overseas Bank ·
State Bank of Mysore ·
State Bank of Travancore ·
Union Bank of India ·
Bank of Babrain and Kuwait B.S.C., Jolly Maker
Chambers II, Ground Floor ,225, Nariman Point, Mumbai - 400021, Maharashtra,
India ·
State Bank of India, Industrial Finance Branch,
14th Floor, J. V. Building, 1, Tolstoy Marg, New Delhi – 110001,
India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
NOTES: US$ Nil (Previous year US$ 36.8 million ) Zero Coupon Convertible Bonds due 2011 (Due within one year Rs.Nil (Previous year Rs.1652.500 million)) (Due within one year Rs. 185.00 million (Previous year Rs.Nil)) (Due within one year Rs. 362.800 million (Previous year Rs. 181 million (Due within one year Rs.18.400 million (Previous year Rs.Nil)) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batiliboi and Associates Chartered Accountants |
|
Address : |
|
|
|
|
|
Statutory Auditors : |
|
|
Name: |
S. R. Batiliboi and Associates Chartered Accountants |
|
Address: |
1st Floor, Tower A. Building No.8, DLF Cyber city, Phase III, Sector 25, Gurgoan-122001, Haryana, India |
|
PAN No.: |
AALFS0506L |
|
|
|
|
Cost Auditors : |
|
|
Name: |
J. P. Gupta and Associates Cost Accountants |
|
Address: |
|
|
|
|
|
Joint Ventures : |
·
Chiron Panacea
Vaccines Private Limited ·
Cambridge
Biostability Limited |
|
|
|
|
Subsidiaries : |
· Best On Health Limited (BOH) (Wholly-owned subsidiary (WOS)) · Radicura and company Limited (Indirect WOS through BOH), CIN No.: U74899DL1993PLC056682 · Panacea Hospitality Services Private Limited, (Indirect WOS through BOH) CIN NO.: U55101DL2007PTC166763 · Panacea Educational Institute Private Limited, (Indirect WOS through BOH) CIN No.:U80904DL2007PTC166661 · Sunanda Steel Company Limited, (Indirect WOS through BOH) CIN No.: U13209DL2007PLC163082 · Nirmala Organic Farms and Resorts Private Limited, (Indirect WOS through BOH) w.e.f. February 23, 2011 CIN No.: U01403DL2010PTC198194 · Best On Health Foods Limited (Indirect WOS through BOH) w.e.f. December 6, 2010 CIN No.: U15122DL2007PLC170999 · Rees Investments Limited, (Rees) (Guernsey): WOS · Kelisia Holdings Limited, (Cyprus): Indirect WOS through Rees · Kelisia Investment Holding AG (KIH) (Switzerland): Indirect WOS through Kelisia Holdings Limited, · Panacea Biotec (International) SA (PBS) (Switzerland) (Indirect WOS through KIH) · Panacea Biotec GmbH (Germany) (Indirect WOS through PBS) · Panacea Biotec (Europe) AG, (Switzerland): Indirect WOS through PBS · Panacea Biotec FZE, (UAE): WOS · Panacea Biotec Germany GmbH (Germany) (Indirect WOS through PBS) w.e.f. August 12, 2010 · Panacea Biotec Inc. (USA): WOS · NewRise Healthcare Private Limited (Formerly known as Umkal Medical Institute Private Limited) CIN No.: U85110DL2002PTC114987 |
|
|
|
|
Associates : |
·
PanEra Biotec
Private Limited ·
Lakshmi and Manager
Holdings Limited (LMH) ·
Best General
Insurance Company Limited (Indirect Associate (subsidiary of LMH)) CIN No.: U74899DL1995PLC068967 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Re.1/- Each |
Rs.125.000 millions |
|
110000000 |
Preference Shares |
Rs.10/- Each |
Rs.1100.000 millions |
|
|
Total |
|
Rs.1225.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
61250746 |
Equity Shares |
Re.1/- Each |
Rs.61.250
millions |
|
|
|
|
|
NOTE
Out of the above shares, 1,814,240 Equity Shares of Rs.10 each were
issued as fully paid up bonus shares by capitalisation of General Reserves in
earlier years, which were later on sub-divided into 18,142,400 Equity Shares of
Re.1 each on February 12, 2003.
1,49,000 Forfeited Shares which were allotted on 24th August, 2005 in
the name of employees of the Company (in their capacity as Company’s
nominees/trustees) for sale thereof at the prevailing market prices through
recognised Stock Exchanges on the terms and conditions as specified by Managing
/ Joint Managing Directors or Director of the Company, were sold and net
proceeds aggregating Rs. 29.9 million were received by the Company during the
financial year 2009-10.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
61.250 |
66.840 |
66.786 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6306.850 |
6898.360 |
6084.707 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6368.100 |
6965.200 |
6151.493 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8250.700 |
5081.400 |
4835.939 |
|
|
2] Unsecured Loans |
586.100 |
1973.000 |
2166.996 |
|
|
TOTAL BORROWING |
8836.800 |
7054.400 |
7002.935 |
|
|
DEFERRED TAX LIABILITIES |
756.600 |
708.900 |
333.786 |
|
|
Foreign Currency Monetary Item Translation |
0.000 |
16.800 |
|
|
|
|
|
|
|
|
|
TOTAL |
15961.500 |
14745.300 |
13488.214 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5470.800 |
5321.100 |
5241.093 |
|
|
Capital work-in-progress |
1237.400 |
1625.500 |
1697.610 |
|
|
|
|
|
|
|
|
INVESTMENT |
2329.400 |
2258.500 |
2165.698 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
Foreign Currency Monetary Item Translations |
0.000 |
0.000 |
95.961 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3680.200
|
4555.100
|
4478.012
|
|
|
Sundry Debtors |
2788.400
|
1094.100
|
1238.802
|
|
|
Cash & Bank Balances |
394.700
|
363.300
|
594.809
|
|
|
Other Current Assets |
80.000
|
72.200
|
54.410
|
|
|
Loans & Advances |
1196.700
|
1319.100
|
1303.765
|
|
Total
Current Assets |
8140.000 |
7403.800
|
7669.798 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
669.600
|
634.600
|
359.601 |
|
|
Other Current Liabilities |
392.100
|
747.500
|
1168.489
|
|
|
Provisions |
154.700
|
483.500
|
1857.508
|
|
Total
Current Liabilities |
1216.400 |
1865.600
|
3385.598 |
|
|
Net Current Assets |
6923.600
|
5538.200
|
4284.200
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.300 |
2.000 |
3.652 |
|
|
|
|
|
|
|
|
TOTAL |
15961.500 |
14745.300 |
13488.214 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11304.600 |
8843.700 |
7734.172 |
|
|
|
Other Income |
350.500 |
934.800 |
259.677 |
|
|
|
TOTAL (A) |
11655.100 |
9778.500 |
7993.849 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
5290.700 |
4680.200 |
|
|
|
|
Manufacturing Service Costs |
1111.400 |
855.200 |
|
|
|
|
Employee Related Expenses |
1293.900 |
990.100 |
|
|
|
|
Administrative Selling Other Expenses |
557.400 |
406.700 |
|
|
|
|
Research Development Expenditure |
753.100 |
753.200 |
|
|
|
|
TOTAL (B) |
9006.500 |
7685.400 |
8034.096 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2648.600 |
2093.100 |
(40.247) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
521.100 |
423.500 |
347.420 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2127.500 |
1669.600 |
(387.667) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
572.600 |
488.600 |
536.074 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
1554.900 |
1181.000 |
(923.741) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
204.400 |
380.600 |
(233.244) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1350.500 |
800.400 |
(690.497) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2856.100 |
2155.200 |
2845.721 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
187.100 |
99.500 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4019.500 |
2855.844 |
2155.224 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
7103.900 |
6465.394 |
5588.992 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Packing Materials |
2839.900 |
3137.159 |
4571.338 |
|
|
|
Capital Goods |
91.200 |
406.552 |
457.267 |
|
|
TOTAL IMPORTS |
2931.100 |
3543.711 |
5028.605 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.35 |
11.97 |
(10.35) |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 |
30.09.2011 |
31.12.2011 |
31.03.2012 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
2256.900 |
2287.700 |
1551.600 |
909.500 |
|
Total Expenditure |
1740.100 |
2353.900 |
1947.900 |
1764.400 |
|
PBIDT (Excl OI) |
516.800 |
(66.200) |
(396.300) |
(854.900) |
|
Other Income |
16.700 |
9.900 |
20.100 |
28.000 |
|
Operating Profit |
533.500 |
(56.300) |
(376.200) |
(826.900) |
|
Interest |
163.100 |
146.900 |
163.500 |
254.500 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
(421.400) |
|
PBDT |
370.400 |
(203.200) |
(539.700) |
(1502.900 |
|
Depreciation |
163.200 |
200.100 |
194.000 |
196.700 |
|
Profit Before Tax |
207.200 |
(403.300) |
(733.700) |
(1699.600) |
|
Tax |
40.000 |
(66.900) |
(16.500) |
(508.100) |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
167.200 |
(336.400) |
(717.200) |
(1191.500) |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
167.200 |
(336.400) |
(717.200) |
(1191.500) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
11.59
|
8.19 |
(8.64) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.75
|
13.35 |
(11.94) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.11
|
9.28 |
(7.15) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.17 |
(0.15) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.58
|
1.28 |
1.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.69
|
3.97 |
2.26 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
No |
NOTE:
The registered office address of the company has been shifted from
“Derabassi, Tehsil Rajpura, Patiala-140 501, Punjab, India” to the present
address w.e.f. 07.06.2011
OPERATING RESULTS AND
PROFITS
The exemplary performance of the Company is manifest in the numbers posted for the year under review. During the year ended March 31, 2011, the Company registered a record net turnover of Rs.11304.600 million as against Rs.8843.700 million during the corresponding previous financial year, a spectacular growth of 27.8%. The Company registered EBITDA of Rs.2648.700 million as compared to Rs.1582.500 million during the corresponding previous financial year, a growth of 67.4%. Likewise, the PBT and PAT for the year have grown by 31.7% and 68.7%, respectively and stood at Rs.1554.900 million and Rs.1350.500 million respectively, as compared to the PBT and PAT at Rs.1181.000 million and Rs.800.400 million respectively in the previous fiscal.
This growth was recorded across our both business segments. The Vaccines Segment grew by 29.3% and registered a net turnover of Rs.8332.300 million as against Rs.6443.900 million during previous financial year. The Formulations Segment registered a growth of 23.9% with a net turnover of Rs.2972.300 million as compared to Rs.2398.800 million during the previous financial year.
The Company strives to remain globally and regionally attractive to customers and investors by continuing to focus on sustained growth, cost optimization and efficient management of working capital. These strategic initiatives are continually fueling the Company’s growth across its business operations.
A detailed discussion on operations for the year ended March
31, 2011 is given in the Management Discussion and Analysis section.
MANAGEMENT DISCUSSION
and ANALYSIS REPORT
SUBSIDIARIES
Driven by prudent operational stratagem and aimed at facilitating ease of functioning, the Company has put in place a network of Subsidiaries.
The Company has 4 wholly owned subsidiaries (WOS), viz. Best On Health Limited, Panacea Biotec FZE, Panacea Biotec GmbH and Rees Investments Limited New Rise Healthcare Private Limited (formerly known as Umkal Medical Institute Private Limited) is also a subsidiary in terms of Section 4(1)(b)(ii) of the Act. The Company has 11 other subsidiaries in terms of Section 4(1)(c) of the Act, as under:
· Radicura and Co. Limited, Panacea Hospitality Services Private Limited, Sunanda Steel Company Limited, Panacea Educational Institute Private Limited, Best on Health Foods Limited (w.e.f. 6th December, 2010) and Nirmala Organic Farms and Resorts Private Limited (formerly known as Sugandh Agri. Development Private Limited) (w.e.f. 22nd February, 2011), all being WOS of Best On Health Limited;
· Kelisia Holdings Limited, Cyprus, the WOS of Rees Investments Limited; and
· Kelisia Investment Holding AG, Switzerland, Panacea Biotec (International) SA, Switzerland, Panacea Biotec (Europe) AG, Switzerland and Panacea Biotec Germany GmbH, all being the step-down subsidiaries of Rees Investments Ltd
During the current financial year, the Company's WOS Panacea Biotec Inc. has been wound up.
As per the provisions of Section 212 of the Act, the Company is required to attach the Directors’ Report, Balance Sheet, Profit and Loss Account and other information of the subsidiary companies to its Balance Sheet. However, Ministry of Corporate Affairs, Government of India has, vide its General Circular No. 2 and 3 dated 8th February, 2011 and 21st February, 2011 respectively, granted a general exemption from compliance with section 212(8) of the Act, from attaching the Annual Accounts of subsidiaries in the annual published accounts of the Company subject to fulfillment of conditions stipulated in the circulars.
In compliance of the above said circular, the Annual Accounts will be made available upon request by any investor of the Company/ Subsidiary, interested in obtaining the same. The annual accounts of the Subsidiary companies will also be kept for inspection by any investor at the Company’s Corporate Office at B-1 Extn./G-3, Mohan Cooperative Industrial Estate, Mathura Road, New Delhi – 110 044, India and at the office of the respective Subsidiary companies during business hours of the respective company and shall also be available on the Company’s website www.panaceabiotec.com. Further, the following information, in aggregate, for each Subsidiary is being disclosed at some other place herein and forms part of the Annual Report (a) Capital, (b) Reserves and Surplus, (c) Total Assets, (d) Total Liabilities, (e) Details of investment (except in case of investment in subsidiaries), (f) Turnover including other Income, (g) Profit/Loss Before Tax, (h) Provision for Tax, (i) Profit After Tax, and (j) Proposed Dividend.
Further as per the provisions of Section 212 of the Act, a statement of the holding Company’s interest in the Subsidiary companies is attached herewith and forms part of the Annual Report.
However, pursuant to Accounting Standard AS-21 issued by the Institute of Chartered Accountants of India, Consolidated Financial Statements presented by the Company include the financial statements of each of its Subsidiaries.
JOINT VENTURES
Chiron Panacea
Vaccines Private Limited
Panacea Biotec’s strong legacy of growth and excellence makes it an ideal Joint Venture partner for Indian and global companies. The Company has nurtured several important JVs that enable it to strengthen its growth fundamentals and to enhance its customer value.
During the year under review, the Company’s Joint Venture Company (JV Company), Chiron Panacea Vaccines Private Limited (“CPV”), has grown its business in DTwP based Pediatric combination vaccines, Polio and Flu franchisee by 24% over last year in spite of intense competitive price pressure within the pediatric vaccine market and has a significant market share in the DTwP-Hib combination vaccines, IPV vaccines and Trivalent Flu vaccines.
CPV has retained its customers by offering value added services by introducing novel concept of pre-booking for flu vaccines and flu protection clinic and arranging for international speakers, thereby creating awareness and benefit of a flu vaccination.
CPV has also lead a partnering program with the Pediatricians on the World Polio Day through various activities conducted across the Country like CME’s, creating awareness on synergestic role of IPV+OPV in polio eradication, vaccination camp, with a drive to protect maximum children against Polio. It has also carried out a Trust campaign to re-emphasise the role of Easyrange vaccines in the Hib segment over past five years.
CPV continues to have a strong portfolio of innovative pediatric vaccines and enjoys its significant position at market place. CPV achieved a turnover of Rs.555.4 million and net profit of Rs.21.2 million during the year and commands a significant market share in the pediatric combination vaccines segment in India.
ASSOCIATES
The Company’s associate Company, PanEra Biotec Private Limited is continuing to meet requirement of bulk vaccines and antigens for the manufacture of Hepatitis B and Combination Vaccines by the Company. During the year under review, it has achieved a net turnover and profit after tax of Rs.721.7 million and Rs.236.1 million recording a spectacular growth of 18.4% and 31.6% respectively. The Company’s another Associate Company, Lakshmi and Manager Holdings Limited is mainly engaged in the business of making investments.
CONTINGENT LIABILITY
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Disputed demands/ show-cause notices under |
|
|
|
a) Income Tax cases |
1.800 |
0.800 |
|
b) Customs Duty cases |
4.000 |
4.000 |
|
c) Central Excise Duty cases |
6.600 |
6.600 |
|
d) Service Tax |
8.300 |
2.700 |
|
Uncalled liability on partly paid shares of NewRise Healthcare Private Limited (Formerly known as Umkal Medical Institute Private Limited ) |
42.300 |
115.600 |
|
Demand from Maharashtra State Electricity Distribution Company Limited |
8.100 |
8.100 |
|
Labour cases (in view of large number of cases, it is impracticable to disclose each of them) |
1.200 |
2.000 |
|
Premium on Redemption of ‘US$ 50 Million Zero Coupon Convertible Bonds due 2011 |
0.000 |
565.000 |
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate identity number of the company |
L33117PB1984PLC022350 |
|
Name of the company |
PANACEA BIOTEC LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Ambala-Chandigarh Highway, Lalru – 140501, Punjab, India E-mail Id : companysec@panaceabiotec.com
|
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of charge holder |
Ministry of Science and Technology (Department of Biotechnology),
6-8th Floor, Block No.2, CGO Complex, Lodhi Road,, New Delhi – 110003, India E-mail Id : swarup@dbt.nic.in |
|
Nature of instrument creating charge |
Deed of hypothecation dated 20th April 2012 read with the original
agreement executed between the department of biotechnology and subject. |
|
Date of instrument Creating the charge |
20.04.2012 |
|
Amount secured by the charge |
Rs.32.830 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest 2% p.a. upto Rs.100.000 Millions and 3% p.a. exceeding Rs.100.000
Millions. Terms of Repayment Ten equal half yearly installments payable one year after closure of
the project. Margin 59.26% Extent and Operation of the charge The agreement provides that any and all equipment, apparatus
machineries, machineries spares, tools and other accessories, goods and/or
other movable property of subject including those acquired for the project
through contribution by panacea and/or by Debt to a value equivalent to
Rs.32.830 Millions which includes Rs.30.000 Millions as loan and Rs. 2.830
Millions as interest thereon shall be hypothecated to Debt till the entire
amount of loan with interest accrued is repaid by panacea |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
The agreement provides that any and all equipment, apparatus
machineries, machineries spares, tools and other accessories, goods and/or
other movable property of subject including those acquired for the project
through contribution by panacea and/or by debt to a value equivalent to
Rs.32.830 Millions which includes Rs.30.000 Millions as loan and Rs. 2.830
Millions as interest thereon shall be hypothecated to debt till the entire
amount of loan with interest accrued is repaid by subject |
FIXED ASSTES
· Land – Leasehold
· Land – Freehold
· Buildings
· Leasehold
Improvements
· Plant and
Machinery
· Vehicles
· Furniture and
Fixtures
· Office Equipments
· Computer
Equipments
STATEMENT OF AUDITED
FINANCIAL RESULTS FOR THE QUARTER & FINANCIAL YEAR ENDED MARCH 31, 2012
FINANCIAL RESULTS
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.12.2011 |
31.03.2012 |
|
Quarter Ended |
Year Ended |
||
|
(Unaudited) |
(Audited) |
||
|
Standalone |
|||
|
PART-I |
|
|
|
|
1. Income
from operations |
|
|
|
|
a. Net sales / income from operations (net of
excise duty) |
899.800 |
1529.800 |
6883.800 |
|
b. Other operating income |
9.700 |
21.800 |
122.000 |
|
Total
Income from operations (net) |
909.500 |
1551.600 |
7005.800 |
|
2. Expenditure |
|
|
|
|
a. Cost of materials consumed |
119.100 |
277.900 |
3023.900 |
|
b. Purchase of stock in trade |
51.200 |
48.800 |
245.200 |
|
c. Decrease in inventories |
254.500 |
524.000 |
205.600 |
|
d. Employees benefits expense |
541.500 |
386.200 |
1504.500 |
|
e. Depreciation and amortisation expense |
196.700 |
194.000 |
753.900 |
|
f.
Manufacturing and administrative expenses |
57.300 |
290.700 |
918.700 |
|
g. Other expenses |
608.800 |
312.400 |
1578.600 |
|
Total
expenses |
1829.200 |
2034.000 |
8230.300 |
|
3. (Loss)/Profit
from operations before other Income, finance cost, foreign exchange
fluctuation gain/ (loss) & exceptional items (1-2) |
(919.700) |
(482.400) |
(1224.600) |
|
4. Other income |
28.000 |
20.100 |
74.600 |
|
5. (Loss)/Profit
from ordinary activities before finance cost, foreign exchange fluctuation
gain / (loss) & exceptional items (3+4) |
(891.700) |
(462.300) |
(1150.500) |
|
6. Finance cost |
254.500 |
212.100 |
953.900 |
|
7. Foreign exchange fluctuation loss/ (gain) |
132.000 |
59.300 |
104.100 |
|
8. (Loss)/Profit
from ordinary activities after finance cost before exceptional items (5-6-7) |
(1278.200) |
(733.700) |
(2208.000) |
|
9. Exceptional items (Refer note 11) |
421.400 |
-- |
421.400 |
|
10. Profit /
(loss) from ordinary activities before tax (8+9) |
(1699.600) |
(733.700) |
(2629.500) |
|
11. Tax expenses |
(508.100) |
(16.500) |
(551.600) |
|
12. Net profit
/ (loss) from ordinary activities after tax (10-11) |
(1191.500) |
(717.200) |
(2077.900) |
|
13. Extraordinary items (net of tax expenses) |
-- |
-- |
-- |
|
14. Net profit
/ (loss) for the period (12-13) |
(1191.500) |
(717.200) |
(2077.900) |
|
15. Share of profit/(loss) of associates |
-- |
-- |
-- |
|
16. Minority interest |
-- |
-- |
-- |
|
17. Net
profit / (Loss) after taxes, minority interest and share of
profit / (loss) of associates (14
+15+16) |
(1191.500) |
(717.200) |
(2077.900) |
|
18. Paid up equity share capital (face value ofRe.1
per share) |
61.300 |
61.300 |
61.300 |
|
19. Reserves excluding revaluation reserves |
-- |
-- |
4228.500 |
|
20. Earning per share (EPS) |
|
|
|
|
-
Basic (in Rs.) |
(19.46) |
(11.71) |
(33.92) |
|
-
Diluted (in Rs.) |
(19.46) |
(11.71) |
(33.92) |
|
PART-II |
|
|
|
|
A.
Particulars of shareholding |
|
|
|
|
1. Public shareholding |
|
|
|
|
- No. of shares |
15427192 |
15406396 |
15427192 |
|
- Percentage of shareholding |
25.19 |
25.15 |
25.19 |
|
2. Promoters and promoter group Shareholding |
|
|
|
|
a) Pledge/encumbered |
|
|
|
|
- No. of shares |
-- |
20096 |
-- |
|
- % of Shares (as a % of the total
shareholding of promoter & promoter group) |
-- |
0.04 |
-- |
|
- % of Shares (as a % of the total
share capital of the Company) |
-- |
0.03 |
-- |
|
b) Non-encumbered |
|
|
|
|
- Number of shares |
45823554 |
45824254 |
45823554 |
|
- % of Shares (as a % of the total
shareholding of promoter & promoter group) |
100.00 |
99.96 |
100.00 |
|
- % of Shares (as a % of the total
share capital of the Company) |
74.81 |
74.82 |
74.81 |
|
Investor complaints |
|
|
Pending at the
beginning of the quarter |
1 |
|
Received during the
quarter |
4 |
|
Disposed of during the
quarter |
5 |
|
Remaining unresolved at
the end of the quarter |
- |
SEGMENT-WISE
REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.12.2011 |
31.03.2012 |
|
Quarter Ended |
Year Ended |
||
|
(Unaudited) |
(Audited) |
||
|
Standalone |
|||
|
|
|
|
|
|
1. Segment
revenue |
|
|
|
|
(a) Vaccines |
230.200 |
687.300 |
3590.700 |
|
(b) Formulations |
673.800 |
847.000 |
3335.200 |
|
(c) Research & development |
-- |
-- |
-- |
|
(d) Health management |
-- |
-- |
-- |
|
(e) Real estate |
-- |
-- |
-- |
|
(f) Unallocated |
5.400 |
17.300 |
79.800 |
|
Gross
sale/Income from operation |
909.500 |
1551.600 |
7005.800 |
|
Less: Intersegment revenue |
-- |
-- |
-- |
|
Net sales/income
from operations |
909.500 |
1551.600 |
7005.800 |
|
2. Segment
results |
|
|
|
|
Profit (+)/ loss (-) before tax and interest from
each segment |
|
|
|
|
(a) Vaccines |
(206.100) |
(162.000) |
94.400 |
|
(b) Formulations |
(26.300) |
157.100 |
639.100 |
|
(c) Research & development |
(417.000) |
(240.500) |
(1041.400) |
|
(d) Health management |
-- |
-- |
-- |
|
(e) Real estate |
-- |
-- |
-- |
|
(f) Unallocated |
-- |
-- |
-- |
|
Total |
(649.400) |
(245.400) |
(307.900) |
|
Less: i) Finance cost |
480.400 |
163.500 |
953.900 |
|
ii) Other un-allocated expenditure net off
un-allocated income |
569.800 |
324.800 |
1367.700 |
|
Total
Profit Before Tax |
(1699.600) |
(733.700) |
(2629.500) |
|
3. Capital
Employed |
|
|
|
|
(Segment assets-segment liabilities) |
|
|
|
|
(a) Vaccines |
7457.000 |
6331.800 |
7457.000 |
|
(b) Formulations |
2838.400 |
2337.900 |
2838.400 |
|
(c) Research & development |
2366.600 |
2031.800 |
2366.600 |
|
(d) Health management |
-- |
-- |
-- |
|
(e) Real estate |
-- |
-- |
-- |
|
(f) Unallocated |
(4542.000) |
(5219.900) |
(4542.000) |
|
Total
capital employed |
8120.000 |
5481.600 |
8120.000 |
STATEMENT OF ASSETS AND
LIABILITIES
(Rs. In Millions)
|
Particulars |
31.03.2012 |
|
Year Ended |
|
|
(Audited) |
|
|
Standalone |
|
|
|
|
|
Equity and
Liabilities Shareholders' fund |
|
|
Share capital |
61.300 |
|
Reserves and surplus |
8058.700 |
|
|
8120.000 |
|
Minority
interest |
-- |
|
Foreign currency monetary item translation
difference account (net of amortisation) |
20.500 |
|
Non-current
liabilities |
|
|
Long term borrowings |
4830.300 |
|
Deferred tax liabilities (Net) |
205.000 |
|
Long term provisions |
20.600 |
|
Trade payables |
-- |
|
|
5055.900 |
|
Current
liabilities |
|
|
Short-term borrowings |
2693.400 |
|
Trade payables |
1181.800 |
|
Other current liabilities |
1363.600 |
|
Short-term provisions |
93.600 |
|
|
5332.400 |
|
Total |
18528.800 |
|
Assets |
|
|
Non
current assets |
|
|
Fixed assets |
|
|
Tangible assets |
9543.400 |
|
Intangible assets |
469.700 |
|
Capital work-in-progress |
120.700 |
|
Intangible assets under development |
349.900 |
|
Goodwill on consolidation |
-- |
|
Non-current investments |
2584.700 |
|
Long-term loans and advances |
821.700 |
|
Trade receivables |
-- |
|
Other non current assets |
1.200 |
|
|
13891.300 |
|
Current
assets |
|
|
Current Investments |
-- |
|
Trade receivables |
664.500 |
|
Inventories |
3397.300 |
|
Cash and bank balances |
113.300 |
|
Short-term loans and advances |
411.700 |
|
Other current assets |
50.700 |
|
|
4637.500 |
|
Total |
18528.800 |
WEBSITE DETAILS:
PRESS RELEASE:
PANACEA BIOTEC INAUGURATES STATE OF THE ART ONCOLOGY PRODUCTION UNIT
NEW DELHI, MARCH 28, 2012
1.
Panacea Biotec inaugurates new state-of-the-art
Oncology facility at Baddi, Himachal Pradesh
2.
Annual production capacity of 1.2 million vials
3.
The plant has a project cost of around Rs. 550.000
Millions.
4.
The unit enjoys various fiscal incentives like
Excise Duty exemption, Sales Tax concession, leading to better competitive
positioning for Panacea Biotec
Panacea Biotec, India's leading health care
management company has inaugurated its new state-of-the-art Oncology facility
at Baddi, Himachal Pradesh to meet the growing demand of anti-cancer products
in the country.
This new manufacturing facility will entail an
annual production capacity of around 1.2 million vials, and being set up in
compliance with various international regulatory standards like cGMP, USFDA
& UK-MHRA. The plant has been set up with a project cost of around Rs. 55
crores.
On this occasion, Dr. Rajesh Jain, Joint
Managing Director, Panacea Biotec Said: "We are delighted to announce the
inauguration of our new facility for manufacturing Anti-Cancer products. It
will not only enable us to scale up production of our innovative range of Anti-Cancer
products, but also offer substantial affordable innovative medicine to
consumers at large".
Panacea Biotec has been aggressively ramping
up its production capacity, as well as introducing new business lines to cater
to emerging business opportunities in various therapeutic segments. The company
has released products for sales from commercial production from March 2012.
Adding further, Dr. Rajesh Jain said,
"With this new facility, Panacea Biotec has taken another leap towards
becoming one of the prominent players in anti-cancer formulation business
globally. This new facility will improve our ability to develop and deliver
world class affordable Medicine, and will also equip us to keep pace with the
growing demand for anti-cancer products globally. For certain oncology
products, due to insufficient manufacturing capacity, industry consolidation,
lack of redundancy and complex manufacturing process, the US market regularly
faces shortages. In the year 2011, US FDA had to resort to multiple temporary
importations from unapproved sources to mitigate drug shortages. In recent
years use of Oncology products has gone up by 20% while the production capacity
hasn't grown correspondingly. We are thus optimistic about contributing to
mitigate the supply constraints of oncology products not only in India but also
globally".
India accounts for 7.5 per cent of the total
new cases of cancer globally. In India, cervical and breast cancer are the most
common, contributing over 26 per cent to the total cases, followed by lung,
mouth, pharynx and esophagus cancer. The oncology market in India is about $186
million, and is expected to reach $693 million by end of 2013 with a Compound
Annual Growth Rate (CAGR) of nearly 21%.
Panacea Biotec is in process of registering
its range of Anti-Cancer products in emerging RoW markets and in Europe &
US market.
About Panacea Biotec
Panacea Biotec is India's leading
research-based health management company with established research,
manufacturing and marketing capabilities. Panacea Biotec is the 2nd largest
vaccine producer in India. Panacea Biotec has been ranked as the 3rd largest
biotechnology company (ABLE Survey- 2011) and is also amongst the top 40 (ORG
IMS TSA MAT March 2011) pharmaceutical companies in India. The product portfolio
of the Company includes highly innovative prescription products in important
therapeutic areas such as pain management, diabetes management, renal-disease
management, anti-osteoporosis, anti-tubercular, gastro-intestinal care products
and vaccines. The company's products reach more than 75 countries globally. The
company has collaborations and tie-ups with leading national and international
research organizations and corporations. The company's state of the art
manufacturing facilities for vaccines and pharmaceutical formulations comply
with the US-FDA, UK-MHRA, SA-MCC and WHO-cGMP standards. Panacea Biotec has
five dedicated research and development centers. The company has around 3800
employees including over 300 scientists. The company also has 33 product
patents, valid in more than 60 countries worldwide.
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.55.15 |
|
|
1 |
Rs.86.30 |
|
Euro |
1 |
Rs.67.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
66 |
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.