MIRA
INFORM REPORT
|
Report Date : |
13.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
BIOLOGICAL E LIMITED |
|
|
|
|
Registered
Office : |
18/1 and 3, Azamabad, Hyderabad - 500 020,
Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
10.12.1953 |
|
|
|
|
Com. Reg. No.: |
01-001095 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 49.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01120AP1953PLC001095 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDB00005F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB7873P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of Bulk Drugs and formulations. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record.
There appears slight – dip in sales turnover and increased huge loss during
2012. The external borrowing seems to be huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB- |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of
financial obligation it carry moderate credit risk. |
|
Date |
October 2012 |
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 Office : |
18/1 and 3, Azamabad, Hyderabad - 500 020,
Andhra Pradesh, India |
|
Tel. No.: |
91-40-27617831 / 30214021 (3 Lines) /
27617835 / 27615134 / 27672306 91-40-27603742 / 30213999 [For International
Customer] |
|
Fax No.: |
91-40-27615309 / 27675003 / 27616715 /
27630307 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 29.09.2012
|
Name : |
Dr. Vijaykumar Datla |
|
Designation : |
Chairman |
|
Address : |
2-2-12/3A, |
|
Date of Birth/Age : |
22.02.1945 |
|
Qualification : |
MBBS |
|
Date of Appointment : |
01.05.1972 |
|
DIN No.: |
00321796 |
|
PAN No.: |
ACPPV3882Q |
|
|
|
|
Name : |
Dr. Renuka Datla |
|
Designation : |
Director |
|
Address : |
H. No. 2-2-12/3A, |
|
Date of Birth/Age : |
19.05.1946 |
|
Qualification : |
MD |
|
Date of Appointment : |
29.08.1991 |
|
DIN No.: |
00322030 |
|
PAN No.: |
AFAPR2059D |
|
|
|
|
Name : |
Mr. Grandhi Venkata Rao |
|
Designation : |
Director |
|
Address : |
Flat No.401, Jhansi Residency,
H.No.6-3-347/22/B, Dwarakapuri Colony, Punjagutta, Hyderabad – 500082, Andhra
Pradesh, India |
|
Date of Birth/Age : |
12.08.1938 |
|
Qualification : |
FCA |
|
Date of Appointment : |
31.08.2009 |
|
DIN No.: |
00113846 |
|
|
|
|
Name : |
Mrs. Indra Pusapati |
|
Designation : |
Director |
|
Address : |
Plot No.1230, Road No.60, Jusbilee Hills, Hyderabad – 500034, Andhra
Pradesh, India |
|
Date of Birth/Age : |
19.21.1971 |
|
Date of Appointment : |
09.04.2013 |
|
DIN No.: |
00482381 |
KEY EXECUTIVES
|
Name : |
Mr. Chaitanya Tummala |
|
Designation : |
Secretary |
|
Address : |
Flat No.501, Golden Harmony, H.No. 2-2-186/18/4, Ramakrishna Nagar, D
D Colony, Hyderabad – 500013, Andhra Pradesh, India |
|
Date of Birth/Age : |
22.06.1974 |
|
Date of Appointment : |
01.08.2012 |
|
PAN No.: |
AEEPT4493A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vijay Kumar Datla |
|
400961 |
|
Vijay Kumar Datfa (HUF) |
|
4594 |
|
Poornima Manteria |
|
4357 |
|
lndira P.Raju |
|
4357 |
|
Mahima Datla |
|
11205 |
|
Vijay Kumar Datla (Trustee Poornima and Indu Trust) |
|
1999 |
|
Vijay Kumar Datla (Trustee of Mahima Trust) |
|
1685 |
|
Poornimajndira and Mahima |
|
187 |
|
Vijay Kumar Datia and Renuka Datla |
|
5813 |
|
Mahima Datla and Renuka Datla |
|
14172 |
|
Renuka Datla and Mahima Datla |
|
26995 |
|
V.R. Investments Private Limited |
|
18425 |
|
Purnedu Gupta and Krishna Gupta |
|
250 |
|
Total |
|
495000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
3.72 |
|
Directors or relatives of Directors |
96.23 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Bulk Drugs and formulations. |
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|
|
|
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
|
|
|
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|
Bankers : |
· State Bank of Hyderabad, Industrial Finance Branch,, Topaz, Amrutha Hills, Panjagutta, Hyderabad - 500082, Andhra Pradesh, India · The Lakshmi Vilas Bank Limited, 5-1-716/1, 1st Floor, Bank Street, Koti, Hyderabad - 500095, Andhra Pradesh, India · State Bank of Mysore, Industrial Finance Branch, P.B. No.125, "Myhome Jupally", Ameerpet Road, Hyderabad - 500016, Andhra Pradesh, India · Axis Bank Limited, 6-3-879/B, Greenlands Road, Begumpet,, Hyderabad - 500016, Andhra Pradesh, India · ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · Bank of Baroda, Corporate Financial Services Branch, Himayatnagar, Hyderabad - 500029, Andhra Pradesh, India |
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|
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|
Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Financial Institutions : |
IFCI Limited, 8th Floor, Taramandal Complex, Saifabad, Hyderabad - 500004, Andhra Pradesh, India |
|
|
|
|
Auditors : |
|
|
Name : |
Brahmayya and Company Chartered Accountants |
|
Address : |
Flat No.403 and 404, Golden Green Apartments, Irrum Manzil
Colony, Hyderabad – 500082, Andhra Pradesh, India |
|
PAN No.: |
AADFB8032G |
|
|
|
|
Subsidiary
Companies : |
· Biotech Medicals Private Limited ·
BE Investment and Finance Private Limited |
|
|
|
|
Companies in which
Key Management Personnel are interested : |
· D A P Containers Private Limited · V.R. Packing Company Private Limited · V R Farms Private Limited · V R Transport Company Private Limited · V.R. Investments and Finance Private Limited · V.R. Constructions Private Limited · V.R. Real Estate Private Limited · Vasistha Technologies Private Limited · Biona Health Care Private Limited · Biona Herbal Research Centre Private Limited · Hitech Medicals Private Limited · BE Animal Health Private Limited · BE Chemicals Private Limited · BE Pharma Private Limited · Biotech Pharma Private Limited · BE Immuno Sciences Private Limited · Eureka Laboratories Private Limited · Techno Pharma Private Limited · Auris Holdings and Infrastructure Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
495000 |
Equity Shares |
Rs.100/- each |
Rs.49.500 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
49.500 |
49.500 |
|
(b) Reserves & Surplus |
|
660.896 |
803.442 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
710.396 |
852.942 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1427.344 |
1739.776 |
|
(b) Deferred tax liabilities (Net) |
|
97.625 |
211.234 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
17.511 |
18.573 |
|
Total Non-current Liabilities (3) |
|
1542.480 |
1969.583 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
696.896 |
822.953 |
|
(b) Trade payables |
|
182.446 |
303.806 |
|
(c) Other current
liabilities |
|
1353.789 |
530.726 |
|
(d) Short-term provisions |
|
6.162 |
11.506 |
|
Total Current Liabilities (4) |
|
2239.293 |
1668.991 |
|
|
|
|
|
|
TOTAL |
|
4492.169 |
4491.516 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
2940.563 |
3052.651 |
|
(ii) Intangible Assets |
|
35.208 |
28.215 |
|
(iii) Capital
work-in-progress |
|
0.299 |
2.306 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
27.165 |
15.740 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.506 |
0.506 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
3003.741 |
3099.418 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
740.972 |
595.369 |
|
(c) Trade receivables |
|
252.502 |
246.544 |
|
(d) Cash and cash
equivalents |
|
342.097 |
406.139 |
|
(e) Short-term loans and
advances |
|
146.884 |
137.979 |
|
(f) Other current assets |
|
5.973 |
6.067 |
|
Total Current Assets |
|
1488.428 |
1392.098 |
|
|
|
|
|
|
TOTAL |
|
4492.169 |
4491.516 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
49.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
740.150 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
789.650 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2154.455 |
|
|
2] Unsecured Loans |
|
|
331.964 |
|
|
TOTAL BORROWING |
|
|
2486.419 |
|
|
DEFERRED TAX LIABILITIES |
|
|
114.549 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3390.618 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2360.489 |
|
|
Capital work-in-progress |
|
|
732.305 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
15.558 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
525.529 |
|
|
Sundry Debtors |
|
|
347.257 |
|
|
Cash & Bank Balances |
|
|
115.025 |
|
|
Other Current Assets |
|
|
1.836 |
|
|
Loans & Advances |
|
|
119.117 |
|
Total
Current Assets |
|
|
1108.764 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
353.585 |
|
|
Other Current Liabilities |
|
|
445.946 |
|
|
Provisions |
|
|
26.967 |
|
Total
Current Liabilities |
|
|
826.498 |
|
|
Net Current Assets |
|
|
282.266 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3390.618 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2196.814 |
2430.394 |
2172.561 |
|
|
|
Other Income |
157.426 |
19.985 |
68.995 |
|
|
|
TOTAL (A) |
2354.240 |
2450.379 |
2241.556 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
714.106 |
615.811 |
|
|
|
|
Purchases of stock-in-trade |
51.746 |
67.544 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(142.769) |
(85.375) |
1709.698 |
|
|
|
Employee benefit expense |
494.760 |
395.246 |
|
|
|
|
Other expenses |
1026.983 |
747.547 |
|
|
|
|
Exceptional items |
(83.963) |
0.000 |
|
|
|
|
TOTAL (B) |
2060.863 |
1740.773 |
1709.698 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
293.377 |
709.606 |
531.858 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
364.277 |
388.957 |
232.223 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(70.900) |
320.649 |
299.635 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
180.229 |
147.502 |
129.574 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(251.129) |
173.147 |
170.061 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(111.337) |
98.349 |
87.405 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(139.792) |
74.798 |
82.656 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
333.463 |
277.701 |
214.897 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
7.530 |
8.270 |
|
|
|
Dividend |
4.950 |
9.900 |
9.900 |
|
|
|
Tax on Dividend |
0.803 |
1.606 |
1.682 |
|
|
BALANCE CARRIED
TO THE B/S |
187.918 |
333.463 |
277.701 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(282.41) |
151.11 |
166.98 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(5.94)
|
3.05 |
3.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(11.43)
|
7.12 |
7.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.62)
|
3.87 |
4.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.35)
|
0.20 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.99
|
3.00 |
3.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.66
|
0.83 |
0.75 |
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 |
No |
|
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 |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
BUSINESS REVIEW AND
PERFORMANCE
Sales (Net of Excise Duty collected) and Other Income for the year ended 31st March, 2012 was Rs.2354.240 Millions as against Rs. 2450.379 Millions for the year ended 31st March, 2011.
The Operational Loss for the year was Rs.251.129 Millions as against Profit of Rs. 173.147 Millions for the year ended 31st March, 2011 and the Net Loss after tax and after prior period adjustments was Rs. 139.792 Millions as against Net Profit of Rs. 74.798 Millions for the previous year.
The Directors would like to submit that the operational losses have arisen owing to reasons such as higher incidence of interest and other costs as well as certain one-time expenditure and reduced revenues due to termination of an agreement with an MNC company.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-term
borrowings |
|
|
|
Borrowing from government semi-government bodies |
75.948 |
84.150 |
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
117.703 |
45.812 |
|
Other loans and advances |
123.931 |
282.380 |
|
Total |
317.582 |
412.342 |
FIXED ASSETS
- Land
- Building
- Plant and
Machinery
- Water Works
- Electrical Installations
and Air Conditioner
- Date
Processing Machines
- Office
Equipment
- Furniture and
Fixture and Canteen Assets
- Vehicles
- Trade Marks
AS PER WEBSITE
PRESS RELEASE
BILL GATES VISIT
HYDERBAD'S BIOLOGICAL E
Chennai, 31st May, 2013: Mr. Bill Gates, Co-Chair Bill and Melinda Gates Foundation congratulated Biological E on the science and innovation platform of the company that allows it to supply effective and affordable vaccines. After their meeting Ms. Mahima Datla, Managing Director of Biological E said: “Our company is committed to manufacturing quality vaccines at prices that make them one of the most cost-effective investments in global health. We are very proud to support immunization needs of the world’s poorest countries and supply life-saving vaccines to underprivileged children in the world.” We are proud to tie-up with Biological E. because its innovative approaches are saving and improving lives every day,” said Mr. Gates. Yet, despite remarkable achievements, India endures some of the greatest health and development burdens in the world.”
About Biological E.
Limited:
Biological E is a privately held company established in 1953. Biological E.
Limited (Bio E) is a globally focused biopharmaceutical company that develops,
manufactures and markets innovative vaccines and biologics that respond to
health care needs worldwide. The company’s product development efforts are
driven by an internationally experienced management team and the company has
several strategic partnerships with leading biotechnology and pharmaceutical
companies and research institutes around the world.
GSK AND BIOLOGICAL E.
ANNOUNCE JOINT VENTURE TO DEVELOP COMBINATION VACCINE FOR INDIA AND OTHER
DEVELOPING COUNTRIES
Monday 28 January
2013
GlaxoSmithKline (GSK) and Biological E Limited (Biological E.), a leading Indian vaccines company, today announced an agreement to form a 50/50 joint venture (JV) for the early stage research and development of a six-in-one combination paediatric vaccine to help protect children in India and other developing countries from polio and other infectious diseases. The partnership reinforces the commitment of both companies to support the World Health Organisation’s (WHO) global polio eradication programme.
If approved, the vaccine, which would combine GSK’s injectable polio vaccine (IPV) and Biological E’s pentavalent vaccine for diphtheria, tetanus, whooping cough (whole cell pertussis), hepatitis B, and Haemophilus influenzae type b, could be the first of its kind. The vaccine would enable fewer injections for children thereby improving compliance in immunisation schedules. The fully liquid formulation of the vaccine also means it would be ready to use with no additional ingredients or materials required, freeing up space at local storage facilities.
The JV will bear the development costs for the candidate vaccine, which is expected to enter phase 1 development in the next two years. A small initial cash investment will be made by both companies to cover start-up costs for the JV and subsequent development costs will be split equally.
Christophe Weber, President of GSK Vaccines said “We are delighted to be working with Biological E., an established company in the global vaccine market. This agreement is fully aligned to GSK’s vision of providing high quality vaccines to those in need and by leveraging Biological E’s strengths, this particular vaccine has the potential to be play a significant role in the fight against polio.”
Vijay Kumar Datla, Chairman Biological E. said “We are excited to be working with GSK, and this relationship is a validation of the investments we have made in vaccine technology and quality. We expect to leverage this partnership to accelerate the development of the hexavalent vaccine and make IPV accessible for developing countries in the post eradication phase for polio. We hope to continue playing our part in support of the public health community.”
Completion of the transaction is expected in 2013, subject to several conditions including regulatory approval of the JV.
GlaxoSmithKline – one of the world’s leading research-based pharmaceutical and healthcare companies – is committed to improving the quality of human life by enabling people to do more, feel better and live longer
DIAGEO PLC COMPLETES
STAKE PURCHASE IN UNITED SPIRITS, GETS ONLY 25.02 PC
Jul 5, 2013, 02.26AM
IST
MUMBAI: British spirits maker Diageo PLC has raised its stake in India's largest spirits maker United Spirits to 25% and have appointed five directors on the board chaired by liquor baron Vijay Mallya. United Breweries Holdings, the holding company of UB Group, and some companies owned by Mallya have sold roughly 15% in United Spirits (USL) to Diageo for Rs 31350.000 Millions.
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.59.90 |
|
|
1 |
Rs.90.88 |
|
Euro |
1 |
Rs.78.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.