MIRA
INFORM REPORT
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Report Date : |
13.09.2012 |
IDENTIFICATION DETAILS
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Name : |
BRISTOL LABORATORIES LTD. |
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Registered Office : |
Unit |
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Country : |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
27.06.1997 |
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Com. Reg. No.: |
03393503 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Wholesale of pharmaceutical goods |
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No. of Employees : |
174 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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United Kingdom |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
UNITED KINGDOM - ECONOMIC OVERVIEW
The UK, a leading trading
power and financial center, is the third largest economy in Europe after
Germany and France. Over the past two decades, the government has greatly
reduced public ownership and contained the growth of social welfare programs.
Agriculture is intensive, highly mechanized, and efficient by European
standards, producing about 60% of food needs with less than 2% of the labor
force. The UK has large coal, natural gas, and oil resources, but its oil and
natural gas reserves are declining and the UK became a net importer of energy
in 2005. Services, particularly banking, insurance, and business services,
account by far for the largest proportion of GDP while industry continues to
decline in importance. After emerging from recession in 1992, Britain's economy
enjoyed the longest period of expansion on record during which time growth
outpaced most of Western Europe. In 2008, however, the global financial crisis
hit the economy particularly hard, due to the importance of its financial
sector. Sharply declining home prices, high consumer debt, and the global
economic slowdown compounded Britain's economic problems, pushing the economy
into recession in the latter half of 2008 and prompting the then BROWN (Labour)
government to implement a number of measures to stimulate the economy and
stabilize the financial markets; these include nationalizing parts of the
banking system, temporarily cutting taxes, suspending public sector borrowing
rules, and moving forward public spending on capital projects. Facing
burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition
government (between Conservatives and Liberal Democrats) initiated a five-year
austerity program, which aims to lower London's budget deficit from over 10% of
GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer
George OSBORNE announced additional austerity measures through 2017 because of
slower-than-expected economic growth and the impact of the euro-zone debt
crisis. The CAMERON government raised the value added tax from 17.5% to 20% in
2011. It has pledged to reduce the corporation tax rate to 23% by 2015. The
Bank of England (BoE) implemented an asset purchase program of up to £325
billion (approximately $525 billion) as of February 2011. During times of
economic crisis, the BoE coordinates interest rate moves with the European
Central Bank, but Britain remains outside the European Economic and Monetary
Union (EMU).
Source
: CIA
Company name and address
Bristol
Laboratories Ltd.
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Business
Description
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Manufacturing and distribution of pharmaceutical products. |
Industry
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Industry |
Personal and Household Products |
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ANZSIC 2006: |
3720 - Pharmaceutical and Toiletry Goods Wholesaling
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NACE 2002: |
5146 - Wholesale of pharmaceutical goods |
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NAICS 2002: |
424210 - Drugs and Druggists' Sundries
Merchant Wholesalers |
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UK SIC 2003: |
5146 - Wholesale of pharmaceutical goods |
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UK SIC 2007: |
4646 - Wholesale of pharmaceutical goods |
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US SIC 1987: |
5122 - Drugs, Drug Proprietaries, and
Druggists' Sundries |
Key Executives
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News
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Financial
Summary
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1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.6291059
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6228783
Corporate Overview
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Corporate Structure News
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Bristol
Laboratories Ltd. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Brl Investments Ltd. |
Parent |
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Subsidiary |
Berkhamsted |
United Kingdom |
Personal and Household Products |
107.4 |
174 |
Executives Report
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Directors and Shareholders Report
Annual Return Date: 27 Jun 2012
Total Issued Capital (GBP 000): 100
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
31 Jul 1958 |
16 Seamarks Court, 1A Kingsway, |
27 Apr 2006 |
NA |
Current:2 |
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Current |
30 Nov 1949 |
Cambridge House Batchworth Lane, |
01 Nov 2008 |
NA |
Current:1 |
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Current |
11 May 1956 |
Sherwood Green, Manor House Drive, |
27 Jun 1997 |
NA |
Current:1 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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First Directors Limited |
Previous |
72 New Bond Street, |
27 Jun 1997 |
27 Jun 1997 |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
31 Jul 1958 |
16 Seamarks Court, 1A Kingsway, |
27 Apr 2006 |
NA |
Current:2 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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First Secretaries Limited |
Previous |
72 New Bond Street, |
27 Jun 1997 |
07 Jun 2006 |
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Individual Shareholders |
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Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
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BRL Holdings Limited |
24000 Ordinary GBP 1.00 |
Ordinary |
24,000 |
1.00 |
24,000.00 |
24.00 |
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BRL Investments Limited |
76000 Ordinary GBP 1.00 |
Ordinary |
76,000 |
1.00 |
76,000.00 |
76.00 |
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Corporate Shareholders |
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There are no corporate shareholders for this company. |
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Annual Profit & Loss
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Financials in: USD (mil) |
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Except for share items (millions) and per
share items (actual units) |
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30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate
(Period Average) |
0.629106 |
0.633607 |
0.627423 |
0.499214 |
0.517836 |
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Consolidated |
No |
No |
No |
No |
No |
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Turnover (UK) |
96.9 |
81.2 |
59.9 |
61.5 |
- |
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Turnover (Exports) |
10.5 |
8.8 |
8.8 |
9.9 |
- |
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Total Turnover |
107.4 |
90.1 |
68.7 |
71.4 |
- |
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Cost of Sales |
89.1 |
77.2 |
59.5 |
62.6 |
- |
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Gross Profit |
18.3 |
12.9 |
9.2 |
8.8 |
7.0 |
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Depreciation |
1.6 |
1.7 |
1.2 |
1.4 |
1.0 |
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Other Expenses |
10.0 |
8.7 |
6.8 |
7.2 |
5.7 |
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Operating Profit |
- |
- |
2.4 |
1.6 |
1.3 |
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Other Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Interest Paid |
0.3 |
0.3 |
0.4 |
0.5 |
0.6 |
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Exceptional Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Profit Before Taxes |
8.1 |
3.9 |
2.0 |
1.0 |
0.8 |
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Tax Payable / Credit |
1.9 |
1.0 |
0.5 |
0.3 |
0.1 |
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Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Dividends |
0.5 |
0.0 |
0.2 |
0.2 |
0.0 |
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Profit After Taxes |
5.7 |
2.9 |
1.4 |
0.6 |
0.7 |
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Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Non Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Number of Employees |
174 |
149 |
137 |
132 |
114 |
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Wages |
6.8 |
5.8 |
4.9 |
5.4 |
4.0 |
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Social Security Costs |
0.5 |
0.3 |
0.3 |
0.4 |
0.3 |
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Pensions |
- |
- |
- |
0.0 |
- |
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Other Pension Costs |
0.6 |
0.7 |
0.0 |
0.1 |
0.1 |
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Employees Remuneration |
7.9 |
6.8 |
5.2 |
5.8 |
4.4 |
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Directors Emoluments |
- |
- |
- |
0.2 |
- |
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Other Costs |
- |
- |
- |
0.0 |
- |
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Directors Remuneration |
0.5 |
0.5 |
0.5 |
0.2 |
0.2 |
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Highest Paid Director |
0.3 |
0.3 |
0.3 |
- |
- |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.622878 |
0.668405 |
0.60722 |
0.502475 |
0.498418 |
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Consolidated |
No |
No |
No |
No |
No |
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Land & Buildings |
16.4 |
- |
- |
10.0 |
9.3 |
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Fixtures & Fittings |
0.3 |
- |
- |
0.2 |
0.2 |
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Plant & Vehicles |
4.0 |
- |
- |
2.8 |
2.4 |
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Total Tangible Fixed Assets |
20.6 |
17.8 |
15.7 |
12.9 |
12.0 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Fixed Assets |
20.6 |
17.8 |
15.8 |
13.0 |
12.1 |
|
Stocks |
13.8 |
12.1 |
9.2 |
8.0 |
4.7 |
|
Work in Progress |
0.7 |
0.4 |
0.3 |
0.6 |
0.6 |
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Total Stocks Work In Progress |
14.5 |
12.5 |
9.4 |
8.6 |
5.3 |
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Trade Debtors |
23.4 |
13.7 |
17.2 |
19.0 |
20.6 |
|
Inter-Company Debtors |
0.7 |
0.0 |
0.5 |
0.0 |
0.0 |
|
Director Loans |
- |
- |
- |
0.0 |
0.0 |
|
Other Debtors |
4.9 |
0.8 |
0.7 |
0.8 |
0.9 |
|
Total Debtors |
29.0 |
14.6 |
18.4 |
19.8 |
21.5 |
|
Cash and Equivalents |
0.9 |
1.3 |
1.5 |
0.4 |
0.2 |
|
Other Current Assets |
1.2 |
1.1 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
45.6 |
29.5 |
29.4 |
28.8 |
27.0 |
|
Total Assets |
66.3 |
47.3 |
45.2 |
41.8 |
39.0 |
|
Trade Creditors |
30.2 |
21.6 |
23.8 |
20.9 |
21.6 |
|
Bank Overdraft |
1.6 |
4.8 |
2.0 |
5.8 |
2.5 |
|
Inter-Company Creditors |
- |
0.0 |
- |
- |
- |
|
Director Loans (Current Liability) |
- |
0.0 |
- |
0.0 |
0.0 |
|
Hire Purchase (Current Liability) |
- |
0.0 |
- |
- |
- |
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Finance Lease (Current Liability) |
- |
0.0 |
- |
- |
- |
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Total Finance Lease/Hire Purchase (Current Liability) |
- |
0.0 |
- |
- |
- |
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Total Short Term Loans |
- |
0.0 |
- |
- |
0.3 |
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Accruals/Deferred Income (Current Liability) |
7.1 |
1.8 |
1.6 |
1.1 |
1.0 |
|
Social Security/VAT |
0.2 |
0.0 |
0.5 |
0.2 |
0.7 |
|
Corporation Tax |
1.7 |
1.0 |
0.5 |
0.3 |
0.1 |
|
Dividends (Current Liability) |
- |
0.0 |
- |
- |
- |
|
Other Current Liabilities |
0.1 |
0.0 |
0.3 |
0.3 |
0.4 |
|
Total Current Liabilities |
41.0 |
29.2 |
28.6 |
28.5 |
26.5 |
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Group Loans (Long Term Liability) |
0.0 |
- |
0.0 |
1.0 |
0.0 |
|
Director Loans (Long Term Liability) |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Loans |
5.8 |
9.0 |
9.7 |
5.4 |
8.1 |
|
Accruals/Deferred Income (Long Term Liability) |
5.3 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Liabilities |
0.0 |
1.2 |
1.4 |
1.9 |
0.8 |
|
Total Long Term Liabilities |
11.1 |
10.3 |
11.0 |
8.3 |
8.9 |
|
Deferred Taxation |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Issued Capital |
0.2 |
0.1 |
0.2 |
0.2 |
0.2 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Reserve |
0.6 |
0.6 |
0.7 |
0.8 |
0.0 |
|
Retained Earnings |
13.2 |
7.0 |
4.6 |
3.9 |
3.3 |
|
Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Shareholders Funds |
14.0 |
7.7 |
5.5 |
4.9 |
3.5 |
|
Net Worth |
14.0 |
7.7 |
5.5 |
4.9 |
3.5 |
|
|
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Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.629106 |
0.633607 |
0.627423 |
0.499214 |
0.517836 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
8.1 |
3.8 |
6.6 |
0.6 |
-0.1 |
|
Net Cash Flow from ROI and Servicing of Finance |
-0.3 |
-0.3 |
-0.4 |
-0.5 |
-0.6 |
|
Taxation |
-1.3 |
-0.4 |
-0.2 |
-0.1 |
-0.1 |
|
Capital Expenditures |
-3.2 |
-6.5 |
-6.0 |
-1.7 |
-0.5 |
|
Acquisitions and Disposals |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Paid Up Equity |
-0.5 |
0.0 |
-0.2 |
-0.2 |
0.0 |
|
Management of Liquid Resources |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Cash Flow From Financing |
0.6 |
0.1 |
4.7 |
-0.5 |
-0.5 |
|
Increase in Cash |
3.4 |
-3.4 |
4.6 |
-2.4 |
-1.7 |
|
|
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Annual Ratios |
|
Financials in:
USD (mil) |
|
|
|
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.622878 |
0.668405 |
0.60722 |
0.502475 |
0.498418 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.11 |
1.01 |
1.03 |
1.01 |
1.02 |
|
Liquidity Ratio |
0.76 |
0.58 |
0.70 |
0.71 |
0.82 |
|
Stock Turnover |
7.49 |
6.83 |
7.52 |
8.25 |
- |
|
Credit Period (Days) |
78.76 |
58.63 |
88.49 |
97.82 |
- |
|
Working Capital by Sales |
4.26% |
0.36% |
1.17% |
0.45% |
- |
|
Trade Credit by Debtors |
1.29 |
1.57 |
1.38 |
1.10 |
1.05 |
|
Return on Capital |
32.27% |
20.57% |
12.41% |
7.75% |
6.25% |
|
Return on Assets |
12.30% |
7.86% |
4.56% |
2.47% |
2.00% |
|
Profit Margin |
7.51% |
4.35% |
2.90% |
1.45% |
- |
|
Return on Shareholders Funds |
58.10% |
48.05% |
37.70% |
21.15% |
22.12% |
|
Borrowing Ratio |
52.89% |
178.91% |
213.38% |
250.85% |
309.81% |
|
Equity Gearing |
21.16% |
16.36% |
12.09% |
11.67% |
9.06% |
|
Debt Gearing |
41.49% |
116.78% |
177.08% |
132.15% |
230.93% |
|
Interest Coverage |
27.90 |
12.89 |
5.44 |
1.91 |
1.30 |
|
Sales by Tangible Assets |
5.26 |
4.81 |
4.51 |
5.48 |
- |
|
Average Remuneration per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sales per Employee |
0.6 |
0.6 |
0.5 |
0.5 |
- |
|
Capital Employed per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Tangible Assets per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Assets per Employee |
0.4 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Employee Remuneration by Sales |
7.33% |
7.52% |
7.59% |
8.14% |
- |
|
Creditor Days (Cost of Sales Based) |
122.49 |
107.75 |
141.07 |
122.67 |
- |
|
Creditor Days (Sales Based) |
101.61 |
92.32 |
122.18 |
107.55 |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.26 |
|
|
1 |
Rs.88.85 |
|
Euro |
1 |
Rs.71.13 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.