1. Summary Information
|
|
|
Country |
|
|
Company Name |
CIPLA LIMITED |
Principal Name 1 |
Dr. Y. K. Hamied |
|
Status |
Excellent |
Principal Name 2 |
Mr. M. K. Hamied |
|
|
|
Registration # |
11-002380 |
|
Street Address |
Mumbai Central, Mumbai – 400008, Maharashtra, India |
||
|
Established Date |
17.08.1935 |
SIC Code |
-- |
|
Telephone# |
91-22-23095521 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-22-23070013 |
Business Style 2 |
Distributors |
|
Homepage |
Product Name 1 |
Drugs |
|
|
# of employees |
2200
(Approximately) |
Product Name 2 |
Healthcare Products |
|
Paid up capital |
Rs.1605,800,000/- |
Product Name 3 |
-- |
|
Shareholders |
Promoter and
Promoter Group - 36.91%, Public Shareholding - 63.09% |
Banking |
Bank of Baroda |
|
Public Limited Corp. |
Yes |
Business Period |
77 Years |
|
IPO |
Yes |
International Ins. |
-- |
|
Public |
Yes |
Rating |
Aa (77) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
-- |
Quality Chemicals Industries Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
27,880,300,000 |
Current Liabilities |
9,583,300,000 |
|
Inventories |
18,245,000,000 |
Long-term Liabilities |
122,000,000 |
|
Fixed Assets |
30,026,600,000 |
Other Liabilities |
4,729,800,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
14,435,100,000 |
|
Invest& other Assets |
13,786,000,000 |
Retained Earnings |
73,897,000,000 |
|
|
|
Net Worth |
75,502,800,000 |
|
Total Assets |
89,937,900,000 |
Total Liab. & Equity |
89,937,900,000 |
|
Total Assets (Previous Year) |
84,249,400,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
69,775,000,000 |
Net Profit |
11,239,600,000 |
|
Sales(Previous yr) |
61,351,600,000 |
Net Profit(Prev.yr) |
9,603,900,000 |
MIRA
INFORM REPORT
|
Report Date : |
09.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
CIPLA LIMITED |
|
|
|
|
Registered
Office : |
Mumbai Central, Mumbai – 400008, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.08.1935 |
|
|
|
|
Com. Reg. No.: |
11-002380 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 1605.800
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24239MH1935PLC002380 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC00352C |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturers and Distributors of Drugs and Healthcare Products. |
|
|
|
|
No. of Employees
: |
2200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (77) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 300000000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having good track. Financials position of the company appears to be sound. Directors are 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 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered/ Corporate Office : |
Mumbai Central, Mumbai – 400008, |
|
Tel. No.: |
91-22-23095521 / 23082891 / 23023272 / 23025272 |
|
Fax No.: |
91-22-23070013 / 23070393 / 85 / 23008101 |
|
E-Mail : |
|
|
Website : |
http://www.cipla.com |
|
|
|
|
Factory 1: |
Virgonagar, |
|
|
|
|
Factory 2: |
|
|
|
|
|
Factory 3: |
MIDC, Patalganga, District Raigad – 410220, |
|
|
|
|
Factory 4: |
MIDC Industrial Area, Kurkumbh, Daund District Pune -
413802, |
|
|
|
|
Factory 5: |
Verna Industrial Estate, Verna, Salcette, Panaji – 403722,
|
|
|
|
|
Factory 6: |
Village Malpur Upper, P.O. Bhud, Nalagarh, Baddi, District
Solan -173205, |
|
|
|
|
Factory 7: |
Village Kumrek, P.O. Rangpoo-737132, |
|
|
|
|
Factory 8: |
Indore SEZ, Phase ll, Sector III, Pharma Zone, P.O. Pithampur, District Dhar -454774, Madhya Pradesh, India |
|
|
|
|
Sales Office: |
Located At : ·
·
· Kolkata · Chennai ·
·
·
·
·
·
· Ambala Cantt ·
·
·
· Rajasthan ·
· Ahmedabad ·
· Mumbai · Madhya Pradesh · Pune ·
|
|
|
|
|
Branch Office : |
289, |
DIRECTORS
AS ON 31.03.2012
|
Name : |
Dr. Y.K. Hamied |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. M.K. Hamied |
|
Designation : |
Joint Managing
Director |
|
|
|
|
Name : |
Mr. S. Radhakrishnan |
|
Designation : |
Whole-time
Director |
|
|
|
|
Name : |
Dr. H.R. Manchanda |
|
Designation : |
Non-Executive
Directors |
|
|
|
|
Name : |
Mr. Ramesh Shroff |
|
Designation : |
Non-Executive Directors |
|
|
|
|
Name : |
Mr. V.C. Kotwal |
|
Designation : |
Non-Executive
Directors |
|
|
|
|
Name : |
Mr. M.R. Raghavan |
|
Designation : |
Non-Executive
Directors |
|
|
|
|
Name : |
Mr. Pankaj Patel |
|
Designation : |
Non-Executive
Directors |
|
|
|
|
Name : |
Dr. Ranjan Pai |
|
Designation : |
Non-Executive
Directors |
KEY EXECUTIVES
|
Name : |
Dr. K.A. Hamied |
|
Designation : |
Founder (1898-1972) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Category |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
122,720,500 |
15.33 |
|
|
6,022,791 |
0.75 |
|
|
128,743,291 |
16.08 |
|
|
|
|
|
|
|
|
|
|
166,742,687 |
20.83 |
|
|
166,742,687 |
20.83 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
295,485,978 |
36.91 |
|
|
|
|
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
46,891,019 |
5.86 |
|
|
1,026,657 |
0.13 |
|
|
59,375,656 |
7.42 |
|
|
166,899,557 |
20.85 |
|
|
274,192,889 |
34.25 |
|
|
|
|
|
|
|
|
|
|
49,601,939 |
6.20 |
|
|
|
|
|
|
52,306,889 |
6.53 |
|
|
100,355,939 |
12.54 |
|
|
28,566,632 |
3.57 |
|
|
580,023 |
0.07 |
|
|
155,103 |
0.02 |
|
|
26,451,951 |
3.30 |
|
|
1,379,496 |
0.17 |
|
|
59 |
0.00 |
|
|
230,831,399 |
28.84 |
|
|
|
|
|
Total Public shareholding
(B) |
505,024,288 |
63.09 |
|
|
|
|
|
Total (A)+(B) |
800,510,266 |
100.00 |
|
|
|
|
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
2,411,091 |
0.00 |
|
|
2,411,091 |
0.00 |
|
|
|
|
|
Total
(A)+(B)+(C) |
802,921,357 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Distributors of Drugs and Healthcare Products. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
Bulk Drugs (including Malts) |
Tonne |
1492.9 |
1601.2 |
|
Tablets and Capsules |
Million |
17496.1 |
17935.3 |
|
Liquids |
Kilolitre |
3191.5 |
9009.8 |
|
Creams |
Tonnes |
689.0 |
898.9 |
|
Aerosols/Inhalation Devices |
Thousand |
143452.5 |
55256.9 |
|
Injections/Sterile Solutions |
Kilolitre |
1739.0 |
2525.9 |
|
Others |
|
-- |
2061.7 |
NOTES
· In terms of press note No. 4 (1994 series) dated 25th October 1994 issued by the Department of Industrial Development, Ministry of Industry, Government of India and Notification No. S.O. 137 (E) dated 1st March 1999 issued by the Department of Industrial Policy and Promotion, Ministry of Industry, Government of India, Industrial licensing has been abolished in respect of bulk drugs and formulations. Hence there are no registered/licensed capacities for these bulk drugs and formulations.
· Installed capacity being effective operational capacity has been reviewed and calculated on shift basis for formulations and on a continuous basis for active pharmaceutical ingredients and drug intermediates. The installed capacity may, therefore, vary according to the production mix. In addition, installed capacity does not include the installed capacity of contract manufacturing sites.
· Actual production for all dosage forms includes production carried out by Cipla at contract manufacturing sites.
· The installed capacity is as certified by the management and not verified by the auditors, this being a technical matter.
· Actual production includes production of goods captively consumed.
GENERAL INFORMATION
|
No. of Employees : |
2200 (Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
Ø
Bank of Ø
Canara Bank Ø
Corporation Bank Ø
Indian Overseas Bank Ø
Standard Chartered Bank Ø
The Hongkong and Ø
Corporation Limited Ø Union Bank of |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors 1 : |
|
|
Name : |
V. Sankar Aiyar and Company Chartered Accountants |
|
|
|
|
Auditors 2 : |
|
|
Name : |
R.G.N. Price and Company Chartered Accountants |
|
|
|
|
Subsidiaries (held directly) : |
Ø
Cipla FZE Ø
Goldencross Pharma Private Limited Ø
Cipla ( Ø Meditab
Specialities Private Limited |
|
|
|
|
Subsidiaries (held indirectly) : |
Ø
Cipla ( Ø
Cipla-Oz Pty Limited Ø
STD Chemicals Limited Ø
Medispray Laboratories Private Limited Ø
Sitec Labs Private Limited Ø Four M Propack
Private Limited Ø
Meditab Holdings Limited Ø
Meditab Pharmaceuticals South Ø
Meditab Specialities New Zealand Limited Ø Cipla İlaç
Ticaret Anonim Şirketi (w.e.f. 20th February 2012 |
|
|
|
|
Associates : |
Ø
Quality Chemical Industries Limited Ø
Stempeutics Research Private Limited Ø
Biomab Holding Limited (w.e.f. 1st September
2011) Ø Jiangsu Cdymax
Pharmaceuticals Company Limited (w.e.f. 10th February 2012) |
|
|
|
|
Joint Venture : |
Aspen-Cipla Australia Pty Limited (w.e.f. 4th November 2011) |
|
|
|
|
Entities over
which Key Management Personnel are able to exercise significant influence : |
Ø
Cipla Public Charitable Trust Ø
Okasa Private Limited Ø
Okasa Pharma Private Limited Ø Cipla Foundation |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
87,50,00,000 |
Equity Shares |
Rs. 2/- each |
Rs. 1750.000 Millions |
|
|
|
|
|
Issued :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80,39,24,752 |
Equity Shares |
Rs. 2/- each |
Rs. 1607.800
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80,29,21,357 |
Equity Shares |
Rs. 2/- each |
Rs. 1605.800
Millions |
|
|
|
|
|
Ø There is no change
in the shares outstanding at the beginning and at the end of the reporting date
and immediately preceding reporting date.
Ø
Details of Shareholders holding more than 5 percent
shares in the Company
|
Particulars |
2012 |
|
|
|
Number of shares |
% Holding |
|
Dr. Y.K. Hamied |
12,48,27,750 |
15.55 |
|
Mrs. Farida Hamied |
4,19,14,937 |
5.22 |
|
Mrs. Sophie Ahmed |
4,59,82,000 |
5.73 |
|
Life Insurance Corporation of |
8,01,53,536 |
9.98 |
Ø
Shares allotted as fully paid-up by way of Bonus
shares (during 5 years preceding 31st March 2012)
46,63,74,814 equity
shares of Rs. 2 each were allotted as Bonus shares by capitalisation of General
Reserve and Securities Premium Account in May 2006.
Ø
Terms and Rights attached to Equity Shares
The Company has
only one class of equity shares having a par value of Rs. 2 per share. Each
holder of equity share is entitled to one vote per share. The Company declares
and pays dividends in Indian Rupees. The dividend proposed by the Board of
Directors is subject to the approval of the shareholders in the ensuing
Annual General
Meeting.
In the event of
liquidation of the Company, the holders of equity shares will be entitled to
receive remaining assets of the Company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of Equity Shares
held by the shareholder.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1605.800 |
1605.800 |
1605.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
73897.000 |
64523.700 |
57535.100 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
75502.800 |
66129.500 |
59140.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
100.000 |
29.500 |
4.100 |
|
|
2] Unsecured Loans |
22.000 |
4384.400 |
46.600 |
|
|
TOTAL BORROWING |
122.000 |
4413.900 |
50.700 |
|
|
DEFERRED TAX LIABILITIES |
2324.500 |
2124.500 |
1791.500 |
|
|
|
|
|
|
|
|
TOTAL |
77949.300 |
72667.900 |
60983.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
30026.600 |
28680.200 |
20111.700 |
|
|
Capital work-in-progress |
3434.500 |
2530.700 |
6842.400 |
|
|
|
|
|
|
|
|
INVESTMENT |
10351.500 |
5702.800 |
2651.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
18245.000
|
18831.600
|
15125.800
|
|
|
Sundry Debtors |
15193.100
|
14970.400
|
15527.100
|
|
|
Cash & Bank Balances |
550.600
|
841.300
|
608.400
|
|
|
Other Current Assets |
542.200
|
3.600
|
47.000
|
|
|
Loans & Advances |
11594.400
|
12688.800
|
12215.900
|
|
Total
Current Assets |
46125.300
|
47335.700
|
43524.200
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6003.900
|
7750.900
|
8054.000
|
|
|
Other Current Liabilities |
3579.400
|
1631.800
|
1928.500
|
|
|
Provisions |
2405.300
|
2198.800
|
2163.700
|
|
Total
Current Liabilities |
11988.600
|
11581.500
|
12146.200
|
|
|
Net Current Assets |
34136.700
|
35754.200
|
31378.000
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
77949.300 |
72667.900 |
60983.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
69775.000 |
61351.600 |
53595.200 |
|
|
|
Other Income |
1483.000 |
2987.200 |
3537.200 |
|
|
|
TOTAL (A) |
71258.000 |
64338.800 |
57132.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
23008.500 |
-- |
-- |
|
|
|
Purchase of Traded Goods |
5555.500 |
-- |
-- |
|
|
|
Changes in Inventories of Finished Goods, Work-in-Process
and Traded Goods |
112.400 |
-- |
-- |
|
|
|
Employee Benefits Expense |
7282.100 |
-- |
-- |
|
|
|
Other Expenses |
17997.900 |
-- |
-- |
|
|
|
Material Cost |
-- |
28604.300 |
24529.800 |
|
|
|
Employee Cost |
-- |
4642.000 |
3188.700 |
|
|
|
Other Expenses |
-- |
14640.700 |
12725.100 |
|
|
|
Research and Development Expenses |
-- |
2597.900 |
2506.900 |
|
|
|
Exceptional Item being sale of branch and other related rights |
-- |
0.000 |
(950.000) |
|
|
|
TOTAL (B) |
53956.400 |
50484.900 |
42000.500 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
17301.600 |
13853.900 |
15131.900 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
266.300 |
51.400 |
229.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
17035.300 |
13802.500 |
14902.400 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
2820.700 |
2288.600 |
1652.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
14214.600 |
11513.900 |
13249.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2975.000 |
1910.000 |
2435.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
11239.600 |
9603.900 |
10814.900 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
22979.300 |
16990.700 |
9548.300 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
-- |
642.300 |
-- |
|
|
|
Proposed Dividend |
1600.000 |
1605.800 |
1605.800 |
|
|
|
Tax on Dividend |
260.000 |
367.200 |
266.700 |
|
|
|
Transfer to General Reserve |
1250.000 |
1000.000 |
1500.000 |
|
|
BALANCE CARRIED
TO THE B/S |
31108.900 |
22979.300 |
16990.700 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
36920.300 |
33614.900 |
29005.800 |
|
|
|
Technical Know-how/ Fees |
295.500 |
547.600 |
1537.600 |
|
|
|
Others |
65.900 |
14.200 |
33.400 |
|
|
TOTAL EARNINGS |
37281.700 |
34176.700 |
30576.800 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials / Packing Materials |
9543.400 |
11707.700 |
8461.400 |
|
|
|
Components and Spare Parts |
324.200 |
417.400 |
274.600 |
|
|
|
Capital Goods |
1465.000 |
1793.900 |
1672.300 |
|
|
TOTAL IMPORTS |
11332.600 |
13919.000 |
10408.300 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
14.00 |
11.96 |
13.69 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
|
|
1st Quarter |
2nd Quarter |
|
Sales Turnover |
19581.900 |
21918.400 |
|
Total Expenditure |
14183.400 |
15148.900 |
|
PBIDT (Excl
OI) |
5398.500 |
6769.500 |
|
Other Income |
530.600 |
641.400 |
|
Operating
Profit |
5929.100 |
7410.900 |
|
Interest |
10.900 |
53.600 |
|
Exceptional
Items |
0.000 |
0.000 |
|
PBDT |
5918.200 |
7357.300 |
|
Depreciation |
728.200 |
739.600 |
|
Profit
Before Tax |
5190.000 |
6617.700 |
|
Tax |
1182.400 |
1617.600 |
|
Provision and Contingencies |
0.000 |
0.000 |
|
Reported PAT |
4007.600 |
5000.100 |
|
Extraordinary Items |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
|
Net Profit |
4007.600 |
5000.100 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
15.77 |
14.93
|
18.93 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
20.37 |
18.77
|
24.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.67 |
15.15
|
20.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.17
|
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.16 |
0.24
|
0.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.85 |
4.09
|
3.58 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 involved in |
-- |
|
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 |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
MANAGEMENT REVIEW:
2011-12
INDUSTRY STRUCTURE
AND DEVELOPMENT
The global economy
has witnessed considerable political and economic turmoil during the last year,
from uprisings in the Middle East and North Africa to the tsunami in
The Indian Rupee
has depreciated by more than 14 percent as compared to the US Dollar during the
financial year 2011-12. A sustained depreciation of the Rupee would benefit the
Company and the overall pharmaceutical industry due to significant contribution
from exports. However, this could also result in a deteriorating fiscal
position of the country in the long run.
The global
pharmaceutical industry, in particular the
PERFORMANCE REVIEW
The Company’s
revenue from operations during the financial year 2011-12 amounted to Rs. 70750.000
Millions against Rs. 63990.000 Millions in the previous year recording a growth
of more than 10 percent. The domestic turnover increased by 14 percent, from
Rs. 2822 Millions in the previous financial year to Rs. 32130.000 Millions in
the financial year. Total exports increased by 10 percent during the year.
Profit after tax of the Company increased by 17 percent to Rs. 11240.000
Millions from Rs. 9600.000 Millions in the previous financial year.
During the year,
operating margin (as a percentage of total revenue) increased by about 2
percent. This was primarily due to reduction in material cost from 47 percent
to 42 percent on account of improved realisations, reduction in input costs of
certain product categories and changes in the product mix.
PRODUCTS
The Company
introduced many new drugs and formulations during the year. Some significant
formulations are mentioned below:
Ø Adgain – vital
nutritional supplement for hair loss
Ø Capnea (caffeine citrate
injection and oral solution) – for apnoea of prematurity in infants
Ø Caspogin
(caspofungin acetate injection) – new antifungal for life-threatening fungal
infections
Ø Endobloc
(ambrisentan tablets) – first once-daily endothelin receptor antagonist for
pulmonary arterial hypertension
Ø Esomac
(esomeprazole tablets) – faster-acting PPI for acid-related disorders
Ø Evocort
(formoterol and mometasone rotacaps) – new once-daily asthma controller therapy
Ø Flavocip
(flavoxate hydrochloride tablets) – for relief of spasm of the urinary tract
Ø Glatira
(glatiramer acetate injection) – new disease-modifying drug for multiple
sclerosis
Ø HB Set (ferrous
ascorbate and folic acid) – nutritional supplement for anaemia
Ø Isablac (lactulose
and isphaghula husk granules) – combination laxative for chronic constipation
Ø Ivabeat
(ivabradine tablets) – novel drug for coronary artery disease and chronic heart
failure
Ø Lacopsy
(lacosamide tablets) – new generation antiepileptic
Ø Levepsy
(levetiracetam tablets) – adjunctive therapy for epilepsy
Ø Levepsy XR
(levetiracetam extended release tablets) – once-daily adjunctive therapy for
epilepsy
Ø Lumet (artemether
and lumefantrine tablets) – combination drug for acute malaria
Ø Montair LC Kid
(montelukast and levocetrizine syrup) – for rhinitis in children
Ø Mucophylin
(acebrophylline capsules) – mucolytic bronchodilator for asthma and COPD
Ø Nadibact
(nadifloxacin gel) – quinolone antibacterial for acne
Ø Nova M (pregabalin
and methylcobalamin capsules) – combination therapy for neuropathic pain
Ø Oflox OZ (ofloxacin
and ornidazole suspension) – combination therapy for polymicrobial infections
Ø Olmecip Trio
(olmesartan, amlodipine and hydrochlorothiazide tablets) – novel triple drug
combination for hypertension
Ø Rospium XR
(trospium chloride capsules) – new drug for overactive bladder
Ø Sertacide
(sertaconazole nitrate cream) – for fungal skin infections
Ø Silofast
(silodosin capsules) – once-daily drug for BPH
Ø Sulbacip
(sulbactam sodium injection) – for multidrug resistant infections
Ø Triexer Forte
(metformin hydrochloride extended release, pioglitazone and glimepride tablets)
– triple combination drug for diabetes
Ø Xydap (dapoxetine
tablets) – first approved drug for premature ejaculation
The following Active Pharmaceutical Ingredients (APIs)
were successfully scaled up for commercial manufacture:
Ø Abacavir Sulphate
– nucleoside analogue for HIV/AIDS
Ø Bortezomib –
proteasome inhibitor for cancer
Ø Carmoterol –
long-acting bronchodilator for COPD
Ø Dapoxetine
Hydrochloride – for treatment of premature ejaculation
Ø Naftopidil –
selective alpha blocker for hypertension
Ø Ritonavir –
protease inhibitor for HIV/AIDS
MANUFACTURING
FACILITIES
The Company is
setting up additional R&D facilities at Vikhroli and Patalganga. It is
anticipated that operations will commence during 2012-13.
The Company is
also setting up API facilities at Patalganga, Bengaluru and Kurkumbh which are
expected to be completed in 2012-13. The total investment for these projects is
estimated to be around Rs. 5000.000
Millions.
The capacity
utilisation at the Indore SEZ factory has improved significantly compared to
the previous year and is expected to reach optimum capacity in the coming
years.
REGULATORY
APPROVALS
Several dosage
forms and APIs manufactured at the Company’s facilities continued to enjoy the
approval of major international regulatory agencies. These agencies included
the US FDA, MHRA (UK), PIC (Germany), MCC (South Africa), TGA (Australia),
Department of Health (Canada), ANVISA (Brazil), SIDC (Slovak Republic),
Ministry of Health (Kingdom of Saudi Arabia), the Danish Medical Agency and the
WHO.
OPPORTUNITIES
DOMESTIC MARKETS
In the domestic
market, Cipla continues to maintain its leadership position in various therapeutic
segments including respiratory, anti-virals, gynaecology and urology. With an
R&D team committed to constant innovation and a strong field force of more
than 7,500 people, the Company continues to introduce several new products and
dosage forms every year which offer significant opportunities.
The Company is
actively involved in developing bio-similars/ bio-therapeutic products through
its partners in
The Company’s
venture into stem cell-based products is under progress with a major investment
in Stempeutics Research Private Limited, Bengaluru. Currently, clinical trials
for regulatory approvals for certain therapeutic areas are underway in
INTERNATIONAL
MARKETS
Cipla’s
international business continues to be a major revenue driver for the Company.
During the year, more than 53 percent of the total income originated from
international markets.
The Company’s
international business strategy is focused on an optimised product mix with a
greater thrust towards high margin products. Its strategic partnerships with
large generic pharmaceutical companies for product development and supply are
expected to yield enduring benefits for the Company in the long term.
The Company is
expanding its presence in the inhaler segment in
CONTINGENT LIABILITIES
(Rs.
in millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Claims against the Company not acknowledged as Debt |
18.800 |
16.400 |
|
Guarantees |
1005.100 |
599.700 |
|
Letters of Credit |
207.500 |
365.400 |
|
Refund of Technical
Know-how/Fees on account of noncompliance of certain obligations as per
respective agreements |
271.900 |
74.500 |
|
Income Tax |
1797.300 |
2044.400 |
|
Excise
Duty/Service Tax |
295.500 |
492.300 |
|
Sales Tax |
36.400 |
40.200 |
FIXED ASSETS
Ø
Ø
Ø Buildings and
Flats
Ø Plant and
Machinery
Ø Furniture and
Fixtures
Ø Vehicles
STATEMENT OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER ENDED 30TH
SEPTEMBER 2012
(Rs. in millions)
|
Particular |
Quarter Ended |
Half Year Ended |
|
|
|
30.09.2012 (Unaudited) |
30.06.2012 (Unaudited) |
30.09.2012 (Unaudited) |
|
Income from Operations |
|
|
|
|
Net Sales/Income from Operations |
21458.700 |
19173.800 |
40632.500 |
|
Other Operating Income |
459.700 |
408.100 |
867.800 |
|
Total Income from
operations (net) |
21918.400 |
19581.900 |
41500.300 |
|
|
|
|
|
|
Expenses |
|
|
|
|
(a) Cost of materials consumed |
6556.800 |
5507.000 |
12063.800 |
|
(b) Purchases of stock-in-trade |
1838.100 |
1518.500 |
3356.600 |
|
(c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(508.900) |
298.700 |
(210.200) |
|
(d) Employee benefits expense |
2426.100 |
2130.000 |
4556.100 |
|
(e) Depreciation and amortisation expense |
739.600 |
728.200 |
1467.800 |
|
(f) Other expenses |
4836.800 |
4729.200 |
9566.000 |
|
Total Expenses |
15888.500 |
14911.600 |
30800.100 |
|
Profit from Operations
before Other Income, Finance costs |
6029.900 |
4670.300 |
10700.200 |
|
Other Income |
641.400 |
530.600 |
1172.000 |
|
Profit/ Loss from
Ordinary Activities before Finance costs |
6671.300 |
5200.900 |
11872.200 |
|
Finance costs |
53.600 |
10.900 |
64.500 |
|
Profit/ Loss from Ordinary Activities
before tax |
6617.700 |
5190.000 |
11807.700 |
|
Tax Expenses |
1617.600 |
1182.400 |
2800.000 |
|
Net Profit for the period |
5000.100 |
4007.600 |
9007.700 |
|
Paid- up
Equity Share Capital (Face value of
the share – Rs. 2) |
1605.800 |
1605.800 |
1605.800 |
|
Reserves
excluding revaluation reserves as per balance sheet of Previous Accounting
Year |
|
|
|
|
Basic and Diluted Earnings per share (`) **Not Annualised |
**6.23 |
**4.99 |
**11.22 |
|
|
|
|
|
|
PARTICULARS OF SHAREHOLDING |
|
|
|
|
1. Public
shareholding |
|
|
|
|
Number of
Shares |
505024288 |
505565473 |
505024288 |
|
Percentage of Shareholding |
62.90 |
62.97 |
62.90 |
|
2. Promoters
and promoter group shareholding |
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
- Number of Shares |
Nil |
Nil |
Nil |
|
- Percentage of Shares (as a % of the Total Shareholding
of promoter and promoter group) |
Nil |
Nil |
Nil |
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
Nil |
Nil |
Nil |
|
|
|
|
|
|
Non - encumbered |
|
|
|
|
- Number of
Shares |
295485978 |
295485978 |
295485978 |
|
- Percentage
of Shares (as a % of
the total shareholding of promoter and promoter
group) |
100.00 |
100.00 |
100.00 |
|
- Percentage of
Shares (as a % of
the total share capital of the company) |
36.80 |
36.80 |
36.80 |
|
|
Particulars |
Quarter Ended
30.09.2012 |
|
B |
Investor
complaints |
|
|
|
Pending at the beginning of the quarter |
Nil |
|
|
Received during the quarter |
18 |
|
|
Disposed of during the quarter |
18 |
|
|
Remaining unresolved at the end of the quarter |
Nil |
Notes:
1. The Company is
essentially in the pharmaceutical business segment.
2. In 2003, the Company
received notice of demand from the National Pharmaceutical Pricing Authority,
Government of India on account of alleged overcharging in respect of certain
drugs under the Drug Price Control Order. This was contested before the
jurisdictional High Courts wherein it was held in favour of the Company. The
orders were challenged before the Hon’ble Supreme Court by the Government. The
Hon'ble Supreme Court by a separate order restored the matter to the
jurisdictional High Court for interpreting the Drug Policy on the basis of
directions and principles laid down by them and also restrained the Government
from taking any coercive action against the Company. The Company has been
legally advised that on the basis of these orders there is no probability of demand
crystallising. Hence no provision is considered necessary in respect of notice
of demand aggregating to ` 1654.92 crore (inclusive of principal amount for the
period July 1995 to April 2009 and interest upto January 2012).
3. The figures of
the previous year have been regrouped/recast to render them comparable with the
figures of the current year.
4. *Tax expense is
inclusive of current tax and deferred tax.
5. The Statement of Assets and Liabilities is as
under:
(Rs. in millions)
|
Particulars |
30.09.2012 |
|
|
A. EQUITY AND LIABILITIES |
Unaudited |
|
|
1.
Shareholders Funds |
|
|
|
a] Share Capital |
1605.800 |
|
|
b] Reserves and Surplus |
82904.700 |
|
|
Sub-total –
Shareholders’ funds |
84510.500 |
|
|
|
|
|
|
2. Non-current Liabilities |
|
|
|
a] Long term Borrowings |
22.000 |
|
|
b] Deferred Tax Liabilities |
2474.500 |
|
|
c] Long term provisions |
397.400 |
|
|
Sub-total -
Non-current Liabilities |
2893.900 |
|
|
|
|
|
|
3. Current Liabilities |
|
|
|
a] Short term Borrowings |
153.400 |
|
|
b] Trade Payables |
6739.300 |
|
|
c] Other Current Liabilities |
3926.100 |
|
|
d] Short Term Provision |
403.900 |
|
|
Sub-total - Current Liabilities |
11222.700 |
|
|
|
|
|
|
TOTAL - EQUITY
AND LIABILITIES |
98627.100 |
|
|
|
|
|
|
B ASSETS |
|
|
|
1. Non-current assets |
|
|
|
a] Fixed assets |
29741.700 |
|
|
b] Capital Work-in-Progress |
3637.000 |
|
|
c] Non-current investments |
4618.300 |
|
|
d] Long-term loans and advances |
3591.400 |
|
|
e] Other non-current assets |
2.400 |
|
|
Sub-total – Non- current assets |
41590.800 |
|
|
|
|
|
|
2.
CURRENT ASSETS |
|
|
|
|
Current Investments |
14045.000
|
|
|
Inventories |
18575.100
|
|
|
Trade Receivables |
16852.100
|
|
|
Cash & Bank Balances |
912.900
|
|
|
Short Term loans and advances |
6473.200
|
|
|
Other Current Assets |
178.000
|
|
Sub-total – Current Assets |
57036.300
|
|
|
|
|
|
|
TOTAL - ASSETS |
98627.100 |
|
6. The results for
the quarter ended 30th September, 2012 have been subjected to Limited Review by
the Statutory Auditors, reviewed by the Audit Committee and approved by the Board
of Directors at its meeting held on 5th November, 2012.
FINANCIAL REVIEW – PERIOD ENDED SEPTEMBER 2012
(Rs. in
millions)
|
Particulars |
Quarter Ended |
Half Year
Ended |
|
|
30.09.2012 |
30.09.2012 |
|
|
|
|
|
Domestic |
9616.700 |
19313.400 |
|
|
|
|
|
Exports - Formulations |
10389.300 |
18490.400 |
|
APIs
and others |
1737.700 |
3422.300 |
|
Total
Exports |
12127.000 |
21912.700 |
|
|
|
|
|
% of exports to total sales |
55.8% |
53.2% |
|
|
|
|
|
Other
operating income |
|
|
|
Technology
know-how/fees |
4.64 |
10.39 |
|
Others |
41.33 |
76.39 |
|
Total |
45.97 |
86.78 |
|
|
|
|
|
Income from Operations |
22203.400 |
42093.900 |
|
|
|
|
|
Material
Cost |
7886.000 |
15210.200 |
|
% to total
sales |
36.3% |
36.9% |
|
|
|
|
|
Operating
margin |
6769.500 |
12168.000 |
|
% to income
from operations |
30.5% |
28.9% |
|
|
|
|
|
Profit
before tax |
6617.700 |
11807.700 |
|
% to income
from operations |
29.8% |
28.1% |
|
|
|
|
|
Profit
after tax |
5000.100 |
9007.700 |
|
% to income from
operations |
22.5% |
21.4% |
During the
quarter, the company posted a growth of about 24% in income from operations.
Domestic sales grew by more than 13% and export sales grew by more than 33%. Operating
margins and profits after tax have increased by about 58% and 62% respectively
on a year-on-year basis.
Material cost has
decreased by 4% mainly on account of changes in product mix viz. lower
proportion of antiretrovirals and higher contribution of anti-depressant
segment (Escitalopram) coupled with increased realizations. As a result,
operating margins have also increased by more than 6%.
The increase in
staff cost of Rs. 550.000 Millions is due to annual increments and increase in
manpower. Other expenditure has increased by Rs. 420.000 Millions for the
quarter mainly on account of increase in travel expenses, marketing
expenditure, professional charges, etc. Tax for the current quarter has
increased due to higher profits.
WEB DETAILS
HISTORY
Cipla’s journey began in 1935 when our founder, Dr. K. A.
Hamied, set up an enterprise with the vision to make
They have 34 state-of-the-art manufacturing facilities that make Active
Pharmaceutical Ingredients (APIs) and formulations, which have been approved by
major international Regulatory Agencies. They have over 2000 products in 65
therapeutic categories; with over 40 dosage forms, covering a wide spectrum of
diseases ranging from communicable, non-communicable, common and emerging
diseases to even rare diseases.
Their Research and Development (R&D) centre is focused on developing innovative products and drug delivery systems, giving the country and the world many ‘Firsts'.
Today, they are one of the world’s largest generic pharmaceutical companies with a strong presence in over 170 countries. They maintain world-class quality across all their products and services.
Whether it’s for millions or for just a few hundreds, their journey to care for
all humanity continues.
MILESTONES
In 1935, their founder, Dr. K. A. Hamied set up Cipla to
make
In 1939, Mahatma Gandhi visited Cipla and inspired our
founder to make essential medicines for the country, and strive for
self-sufficiency. During World War II, when
In the 1960s, they pioneered API manufacturing in the
country and helped lay the foundation for the bulk drug industry in
In 1970, they spearheaded the New Patent Law by which an Indian pharmaceutical company was allowed to manufacture a patented product as long as the process to manufacture it was changed. This enabled Indian companies for the first time to manufacture any medicines and make them available and affordable for all Indians.
In 1978, they pioneered inhalation therapy in
In 1994, they launched Deferiprone, the world’s first oral iron chelator which revolutionized the treatment for thalassemia. For the first time patients with thalassemia had an option that was affordable, painless and convenient.
In 1996, they gave the world the first transparent dry
powder inhaler which was so simple and easy to use, it changed the face of
inhalation therapy in
In 2001, they pioneered the access to HIV treatment by making antiretrovirals (ARVs) available at less than a ‘Dollar a Day'. The cost of treatment dramatically fell from $12,000 per patient per year to $300 per patient per year. This caused a revolution where HIV treatment became a reality for the world and millions of lives could be saved.
During the 2005 Bird Flu epidemic, we produced an anti-flu drug within a period of 2-3 months, which would have normally taken at least 3 years to develop.
In 2012, they made a breakthrough in reducing the prices of cancer drugs, thus making world-class medicines affordable and accessible to cancer patients.
They are committed to addressing the unmet medical needs of the world by venturing into newer challenges in platform technologies, biotechnology and stem cells.
They will continue to support, improve and save millions of lives with our
high-quality drugs and innovative devices. And with the dedication of 20,000
employees, we are ready to face the future challenges of healthcare.
BOARD OF DIRECTORS
Dr. Y. K. Hamied
Dr. Y. K. Hamied is Executive Chairman of the Board,
Managing Director of Company. Dr. Hamied is qualified and eminent chemist.
Having obtained a Doctorate in chemistry from
Mr. M. K. Hamied
Mr. M. K. Hamied serves as Joint Managing Director,
Executive Director of Company. Mr. Hamied has been working as a Whole-time
Director of the Company with effect from 15th December 1983. He was
redesignated as Joint Managing Director effective from 6th December 2000. He is
a science graduate from
Mr. V. C. Kotwal
Mr. V. C. Kotwal is Independent Non-Executive Director of
Company. He is a senior advocate of Bombay High Court. He joined the Board of
Directors of the Company in 1989. He is a Science and Law graduate from
Dr. H. R. Manchanda
Dr. H. R. Manchanda serves as Independent Non-Executive
Director of Company. He has done his M.B.B.S. from
Mr. Pankaj B. Patel
Mr. Pankaj B. Patel serves as Independent Non-Executive
Director of Company. He is a science and law graduate from
Mr. S. Radhakrishnan
Mr. S. Radhakrishnan is Whole-time Director of company since
November 12, 2010. He is a qualified Chartered Accountant, has been with the
Company for over 26 years and has experience in financial, commercial, legal
and allied areas.
Mr. M. R. Raghavan
Mr. M. R. Raghavan is Independent Non-Executive Director of
Company. Mr. M.R. Raghavan is a top Chartered Accountant. He has done his
Bachelor of Science (Mathematics and Statistics) and is a Fellow member of the
Institute of Chartered Accountants of India. He joined the Board of Directors
of the Company in the year 2002. On the social front, he has significantly
contributed on child education since 1980 and is currently involved in
pioneering projects in rural areas.
PRESS RELEASE:
CIPLA
PALLIATIVE CARE CENTRE COMPLETES 15 YEARS OF CARING FOR ADVANCED STAGE CANCER
PATIENTS
~Announces another major price reduction on select cancer
drugs~
In continuation with its commitment to make medicines affordable and accessible, particularly in anti-cancer medication, in May 2012, Cipla announced a dramatic price cut in three major anti-cancer drugs - Sorafenib (SORANIB), Gefitinib (GEFTICIP) and Temozolomide (TEMOSIDE).
Following the overwhelming response on the price cut received from the patients and their families and doctors, Cipla is now announcing another breakthrough price reduction in three additional anti-cancer drugs - Erlotinib (ERLOCIP), Docetaxel (DOCETAX) and Capecitabine (CAPEGARD). These drugs are for the treatment of Lung and Pancreatic Cancer, Breast Cancer, Head and Neck Cancer, Gastric Cancer, Bladder, Colorectal and Colon Cancers.
“Continuing its contribution towards affordable and
accessible treatment for patients, Cipla extends the work done in HIV/AIDS and
Malaria to now include Cancer, not only in
ABOUT CIPLA
Cipla laid the foundation for the Indian pharmaceutical
industry in 1935, with the vision to make
With a turnover of over US $ 1.4 billion, Cipla serves doctors and patients in over 170 countries. It has earned a name for maintaining one global standard across all its products and services. Cipla continues to support, improve and save millions of lives with its high-quality drugs and innovative devices.
CIPLA ANNOUNCES Q2 FY 1213 UNAUDITED FINANCIAL RESULTS
Mumbai, India, 5th November 2012: Cipla Limited (BSE: 500087, NSE : CIPLA) today announced its
Unaudited Financial Results for the quarter ended September 30, 2012 (Q2).
Key Financial & Performance Highlights Q2 FY1213
vis-a-vis Q2 FY1112:
Ø Gross revenues grew by 23.6% to Rs. 22200.000 Millions, up from Rs. 17960.000 Millions in Q2 FY1112
Ø Operating margins grew by 57.7% to Rs. 6770.000 Millions, up from Rs. 4290.000 Millions in Q2 FY1112
Ø Profit after tax grew by 61.8% to Rs. 5000.000 Millions during Q2 FY1213, up from Rs. 3090.000 Millions (Q2 FY1112)
Profit and Loss Highlights:
Ø Material cost at 36.3% of Total Sales decreased by 4.2% during Q2 FY1213 as compared to Q2 FY1112.
Ø Operating margins increased by 57.7% and is at 30.5% of Income from Operations during Q2 FY1213 as compared to 23.9% during Q2 FY1112.
Ø Profit after tax increased by 61.8% to Rs. 5000.000 Millions during Q2 FY1213 as compared to Rs. 3090.000 Millions during Q2 FY1112.
PERFORMANCE REVIEW:
Domestic
business:
Ø Domestic revenues grew by 13.5% to Rs.962 cr during Q2 FY1213, up from Rs. 847 cr during Q2 FY1112.
Ø The growth in domestic revenues was largely on account of growth in anti-asthma, anti-biotics and cardiovascular therapy segments.
International
business:
Ø Exports of formulations grew by 38.2% to Rs. 10390.000 Millions during Q2 FY1213, up from Rs. 7520.000 Millions during Q2 FY1112.
Ø Exports of APIs grew by 9.0% to Rs. 1740.000 Millions during Q2 FY1213, from Rs. 1590.00 Millions during Q2 FY1112.
Ø The growth in export revenues was primarily due to growth in anti-depressants, anti-ulcerant and antiasthma segments.
ABOUT CIPLA:
Cipla laid foundations for the Indian pharmaceutical
industry back in 1935 with the vision to make
With a turnover of over US $ 1.4 billion, Cipla serves doctors and patients in over 170 countries. It has earned a name for maintaining one global standard across all its products and services. Cipla continues to support, improve and save millions of lives with its high‐quality drugs and innovative devices.
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 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 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. 54.44 |
|
|
1 |
Rs. 87.00 |
|
Euro |
1 |
Rs. 69.48 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
77 |
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.