1. Summary Information
|
Country |
INDIA |
||
|
Company Name |
RANBAXY LABORATORIES LIMITED |
Principal Name 1 |
DR. TSUTOMU UNE |
|
Status |
GOOD |
Principal Name 2 |
MR. ARUN SAWHNEY |
|
Registration # |
16-003747 |
||
|
Street Address |
A-41, INDUSTRIAL AREA PHASE VIII-A, SAHIBZADA AJIT SINGH NAGAR, MOHALI
– 160 071, PUNJAB |
||
|
Established Date |
16.06.1961 |
SIC Code |
-- |
|
Telephone# |
91-172-2271450/ 5013655 |
Business Style 1 |
MANUFACTURING
|
|
Fax # |
91-172-2226925/ 5013376 |
Business Style 2 |
TRADING |
|
Homepage |
Product Name 1 |
FORMULATIONS |
|
|
# of employees |
14600
(APPROXIMATELY) |
Product Name 2 |
ACTIVE
PHARMACEUTICALS INGREDIENTS (API) |
|
Paid up capital |
Rs.2,114,570,000/- |
Product Name 3 |
INTERMEDIATE |
|
Shareholders |
PROMOTER AND PROMOTER GROUP-64.88% PUBLIC SHAREHOLDING-35.12% |
Banking |
CITIBANK NA |
|
Public Limited Corp. |
YES |
Business Period |
52 YEARS |
|
IPO |
YES |
International Ins. |
-- |
|
Public |
YES |
Rating |
A (60) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
HOLDING COMPANY |
JAPAN |
DAIICHI SANKYO COMPANY LIMITED |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
59,538,020,000
|
Current Liabilities |
32,272,370,000
|
|
Inventories |
17,318,390,000
|
Long-term Liabilities |
47,636,050,000 |
|
Fixed Assets |
20,065,870,000 |
Other Liabilities |
30,570,150,000
|
|
Deferred Assets |
0,000 |
Total Liabilities |
110,478,570,000 |
|
Invest& other Assets |
32,777,060,000 |
Retained Earnings |
17,095,100,000 |
|
|
|
Net Worth |
19,220,770,000 |
|
Total Assets |
129,699,340,000 |
Total Liab. & Equity |
129,699,340,000 |
|
Total Assets (Previous Year) |
143,209,250,000 |
|
|
|
P/L Statement as of |
31.12.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
63,035,440,000 |
Net Profit |
(1,623,390,000) |
|
Sales(Previous yr) |
77,990,570,000 |
Net Profit(Prev.yr) |
(30,520,490,000) |
MIRA INFORM REPORT
|
Report Date : |
02.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
RANBAXY LABORATORIES LIMITED |
|
|
|
|
Registered
Office : |
A-41, Industrial Area Phase VIII-A, Sahibzada Ajit Singh Nagar, Mohali
– 160 071, Punjab |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
16.06.1961 |
|
|
|
|
Com. Reg. No.: |
16-003747 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2114.570
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24231PB1961PLC003747 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PTLR10986D PTLR11862E |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing and
Trading of formulations, active pharmaceuticals ingredients (API) and intermediate,
generics, drug discovery and consumer health care products and also engaged
in rendering of financial services. |
|
|
|
|
No. of Employees
: |
14600
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 76883000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Daiichi Sankyo Company Limited, Japan’. It is a leading global generic drug manufacturing company and India’s
largest pharmaceutical company in term of sales. It is a well established and reputed company having a fine track
record. It has diversified product offerings, dominant position in the
domestic pharmaceutical market and its established presence in the global
market. There appears some dip in its sales during 2012 and has incurred some
loss. However, trade relations are reported as decent. Business is active. Payments
are reported to be regular and as per commitments, The company can be considered good for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
AA+ (Long Term Proposed NCD) |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
30.08.2012 |
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/ Factory 1 : |
A-41, Industrial Area Phase VIII-A, Sahibzada Ajit Singh Nagar, Mohali
– 160 071, Punjab, India |
|
Tel. No.: |
91-172-2271450/ 5013655/ 6678666 |
|
Fax No.: |
91-172-2226925/ 5013376 |
|
E-Mail : |
corporate.communications@ranbaxy.com
|
|
Website : |
|
|
|
|
|
Head Office : |
12th Floor, |
|
Tel. No.: |
91-11-26452666/ 26237508 |
|
Fax No.: |
91-11-26225987 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
Plot No.90, Sector 32, Gurgaon - 122 001, |
|
Tel. No.: |
91-124-4135000 |
|
Fax No.: |
91-124-4135001/ 4106490 |
|
E-Mail : |
|
|
|
|
|
Research and |
Plot No.20, Sector - 18, Udyog Vihar Industrial Area, Gurgaon – 122
001, |
|
Tel. No.: |
91-124 2342001-10 |
|
Fax No.: |
91-124-2343545 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Village Toansa,
P.O. Railmajra, District Nawansahar – 144 533, Punjab, India |
|
|
|
|
Factory 3 : |
Industrial Area
3, A.B. Road, Dewas – 450 001, Madhya Pradesh, India |
|
|
|
|
Factory 4 : |
Village and P.O.
Ganguwala, Tehsil Paonta Sahib, District Sirmour – 173 025, Himachal Pradesh,
India |
|
|
|
|
Factory 5 : |
Village
Batamandi, Tehsil Paonta Sahib, District Sirmour – 173 025, Himachal Pradesh,
India |
|
|
|
|
Factory 6 : |
E-47/9, Okhla
Industrial Area, Phase-II, Okhla, New Delhi – 110 020, India |
|
|
|
|
Factory 7 : |
Plot No.B-2,
Madkaim Industrial Estate, Ponda, Goa, India |
|
|
|
|
Factory 8 : |
K-5, 6, 7, Ghirongi,
Malanpur, District Bhind – 477 116, Madhya Pradesh, India |
|
|
|
|
Factory 9 : |
Plot No.1341 and
1342, EPIP-1, Hill Top Industrial Area, Village-Bhatolikalan (Barotiwala),
Baddi – 174 103, Himachal Pradesh, India |
|
|
|
|
Regional Headquarters : |
Located at: ·
Mumbai [India] ·
Princeton [USA] ·
London [UK] ·
Johannesburg [South Africa] ·
Bucharest [Romania] ·
Kuala Lumpur [Malaysia] |
|
|
|
|
Marketing Offices |
Located at: ·
Cameroon ·
Ukraine ·
Russia ·
Vietnam ·
Lithuania ·
Kenya ·
Lusaka ·
Cote d’Ivoire ·
Dakar ·
Myanmar ·
China ·
Kazakhstan ·
UAE ·
Bulgaria |
DIRECTORS
As on 31.12.2012
|
Name : |
Dr. Tsutomu Une |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Arun Sawhney |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Akihiro Watanabe |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Anthony H. Wild |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Kazunori Hirokawa |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Percy K. Shroff |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rajesh V. Shah |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Takashi Shoda |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Sunil K. Patawari |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Mr. Arun Sawhney |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2013
|
Category
of Shareholders |
No. of Shares |
Percentage
of holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
|
|
|
|
268711323 |
64.88 |
|
|
268711323 |
64.88 |
|
Total shareholding of Promoter and Promoter Group (A) |
268711323 |
64.88 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
8248132 |
1.99 |
|
|
1122495 |
0.27 |
|
|
33061759 |
7.98 |
|
|
44631854 |
10.78 |
|
|
87064240 |
21.02 |
|
|
|
|
|
|
12909170 |
3.12 |
|
|
|
|
|
|
39628717 |
9.57 |
|
|
3214110 |
0.78 |
|
|
2621126 |
0.63 |
|
|
410816 |
0.10 |
|
|
2210310 |
0.53 |
|
|
58373123 |
14.09 |
|
Total Public shareholding (B) |
145437363 |
35.12 |
|
Total (A)+(B) |
414148686 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
8858167 |
0.00 |
|
|
8858167 |
0.00 |
|
Total (A)+(B)+(C) |
423006853 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and
Trading of formulations, active pharmaceuticals ingredients (API) and
intermediate, generics, drug discovery and consumer health care products and
also engaged in rendering of financial services. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.12.2011)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Dosage forms |
|
|
|
|
Tablets |
Nos. in million |
11992.70 |
4592.10 |
|
Capsules |
Nos. in million |
3698.00 |
1625.66 |
|
Dry syrups/Powders |
Bottles in
million |
78.00 |
26.97 |
|
Ampoules |
Nos. in million |
48.00 |
93.23 |
|
Vials |
Nos. in million |
35.00 |
44.76 |
|
Liquids $ |
Kilolitres |
-- |
762.16 |
|
Drops $ |
Kilolitres |
-- |
32.66 |
|
Active pharmaceuticals ingredients and drugs intermediates |
Tonnes |
1376.73 |
885.20# |
|
Ointments (including sprays) |
Tonnes |
* |
532.56 |
* In different denominations than actual production.
# Inclusive of production used for captive consumption.
$ Installed capacity is not given as the same
is manufactured by loan licensees.
Notes:
1 In terms of
press Note no. 4 (1994 series) dated 25 October 1994 issued by the department
of Industrial Development, Ministry of Industry, Government of India and
Notification no. S.O. 137 (E) dated 01 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/ Licenced capacities for these
bulk drugs and formulations.
2 Installed
capacity being effective operational capacity has been calculated on a double
shift basis for dosage forms facilities except in respect of certain plants for
which installed capacity for production of Tablets has been calculated on a
single shift/triple shift and on a continuous basis for active pharmaceuticals
ingredients and drug intermediates, it may vary according to the production
mix. In addition, installed capacities does not include the installed capacity
in relation to goods produced at loan licensees and contract manufacturers.
3 Actual productions includes production at loan licensee and contract
manufacturers locations.
GENERAL INFORMATION
|
No. of Employees : |
14600
(Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Credit Agricole CIB · Royal Bank of Scotland NV · Citibank NA · Deutsche Bank AG · Hong Kong and Shanghai Banking Corporation · Punjab National Bank · Standard Chartered Bank |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Building No.10,
8th Floor, Tower-B, DLF Cyber City, Phase – II, Gurgaon – 122 002,
Haryana, India |
|
|
|
|
Related parties with whom transactions have taken place during the
year or previous year: |
|
|
Holding company (also being the ultimate holding company) : |
|
|
|
|
|
Fellow Subsidiaries : |
|
|
|
|
|
Subsidiaries including step down subsidiaries / partnership firms : |
|
|
|
|
|
Associate Company : |
|
|
|
|
|
Related parties with whom no transactions have taken place during the
year or previous year: |
|
|
Subsidiaries including step down subsidiaries : |
|
|
|
|
|
Associate Company : |
·
Shimal Research Laboratories Limited, India (upto
30 June 2011) |
CAPITAL STRUCTURE
As on 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
598000000 |
Equity Shares |
Rs.5/- each |
Rs.2990.000 millions |
|
100000 |
Cumulative Preference Shares |
Rs.100/- each |
Rs.10.000 millions |
|
|
Total |
|
Rs.3000.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
422913803 |
Equity Shares |
Rs.5/- each |
Rs.2114.570
millions |
|
|
|
|
|
Rights,
preferences and restrictions attached to shares
As per the
Memorandum of Association, the Company’s authorised share capital consists of
equity shares and preference shares. Preference shares shall be entitled for
such rate of dividend as may be decided by the Directors of the Company at the
time of issue of such shares and shall rank in priority to the equity shares
including arrears, if any, in the event of the winding up of the Company, but
shall not be entitled to any further participation in the profits or surplus
assets of the Company. Preference shares are entitled to one vote per share at
meetings of the Company only in respect of resolutions directly affecting their
rights. However, a cumulative preference shareholder acquires voting rights on
par with an equity shareholder if the dividend on preference shares has
remained unpaid for a period of not less than two years.
All equity shares
rank equally with regard to dividends and share in the Company’s residual assets.
The equity shares are entitled to receive dividend as declared from time to
time. The voting rights of an equity shareholder on show of hand or through
proxy shall be in proportion to his share of the paid-up equity capital of the
Company. On winding up of the Company, the holders of equity shares will be
entitled to receive the residual assets of the Company, remaining after
distribution of all preferential amounts in proportion to the number of equity
shares held.
Reconciliation of equity shares outstanding at the commencement and at
the end of the year
|
Particulars |
As at 31
December 2012 |
|
|
No. of Equity
Shares |
Amount (Rs. in
millions) |
|
|
At the commencement of the year |
421999724 |
2110.000 |
|
Add: Shares issued on exercise of employee stock options by the
Company |
474079 |
2.370 |
|
Add: Shares issued to the Trust under ESOP - 2011 |
440000 |
2.200 |
|
At the end of the year |
422913803 |
2114.570 |
Equity shares held by holding/ ultimate holding company
|
Particulars |
As at 31
December 2012 |
|
|
No. of Equity
Shares |
Amount (Rs. in
millions) |
|
|
Daiichi Sankyo Company Limited, Japan (Daiichi Sankyo), the holding company, also being the ultimate holding
company |
268711323 |
1343.560 |
Particulars of
shareholders holding more than 5% shares of issued, subscribed and paid-up
capital of equity shares
|
Particulars |
As at 31 December
2012 |
|
|
No. of Equity
Shares |
% Holding |
|
|
Daiichi Sankyo |
268711323 |
63.54 |
|
Life Insurance Corporation of India, India |
26726570 |
6.32 |
f. During the year
ended 31 December 2012, the Company has issued 440000 equity shares of Rs.5 each
issued for cash at par to Ranbaxy ESOP Trust (Trust), set up to administer
Employees Stock Option Plan (ESOP - 2011). Out of the total equity shares
issued to the Trust, 238762 equity shares have been allocated by the Trust to
the respective employees upon exercise of stock options from time to time under
ESOP - 2011. As at 31 December 2012, 526238 equity shares are pending to be
allocated to the employees upon exercise of stock options.
g. During the five
years period ended 31 December 2012, neither any bonus shares or shares issued
for consideration other than cash that have been issued nor any shares that
have been bought back.
h. Issued,
subscribed and paid-up share capital include 8963108 Global Depository Shares
(GDSs) representing 8963108 equity shares of Rs.5 2.12% of the issued, subscribed and paid-up
share capital of the Company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2114.570 |
2110.000 |
2105.200 |
|
|
2] Share application money pending allotment |
11.100 |
6.660 |
65.960 |
|
|
3] Reserves & Surplus |
17095.100 |
17131.640 |
49152.760 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
19220.770 |
19248.300 |
51323.920 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
9441.800 |
2295.890 |
1953.850 |
|
|
2] Unsecured Loans |
38194.250 |
36538.240 |
40653.300 |
|
|
TOTAL BORROWING |
47636.050 |
38834.130 |
42607.150 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
66856.820 |
58082.430 |
93931.070 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
20065.870 |
18756.280 |
17121.180 |
|
|
Capital work-in-progress |
1465.370 |
2004.930 |
3301.820 |
|
|
|
|
|
|
|
|
INVESTMENT |
31311.690 |
34107.930 |
38044.370 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
17318.390
|
16552.310
|
14899.060
|
|
|
Sundry Debtors |
14358.880
|
36828.190
|
12926.320
|
|
|
Cash & Bank Balances |
28347.730
|
19379.530
|
27122.820
|
|
|
Other Current Assets |
1682.810
|
2767.990
|
3205.970
|
|
|
Loans & Advances |
15148.600
|
12812.090
|
11498.550
|
|
Total
Current Assets |
76856.410
|
88340.110
|
69652.720
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8588.110
|
9856.370
|
12447.760
|
|
|
Other Current Liabilities |
23684.260
|
45981.710
|
12463.060
|
|
|
Provisions |
30570.150
|
29288.740
|
9278.200
|
|
Total
Current Liabilities |
62842.520
|
85126.820
|
34189.020
|
|
|
Net Current Assets |
14013.890
|
3213.290
|
35463.700
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
66856.820 |
58082.430 |
93931.070 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
63035.440 |
77990.570 |
56721.020 |
|
|
|
Other Income |
2571.630 |
2226.550 |
10017.820 |
|
|
|
TOTAL (A) |
65607.070 |
80217.120 |
66738.840 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
15286.610 |
17849.130 |
21709.340 |
|
|
|
Purchases of stock-in-trade |
8090.010 |
6367.310 |
-- |
|
|
|
Change in
inventories of finished goods, work-in-progress and stock-in-trade |
(492.450) |
(1357.220) |
-- |
|
|
|
Employee
benefits expense |
10195.890 |
8607.110 |
7761.380 |
|
|
|
Other expenses |
25526.160 |
35783.820 |
-- |
|
|
|
Exceptional items: |
|
|
|
|
|
|
Settlement provision |
0.000 |
26480.000 |
-- |
|
|
|
Provision for
other-than-temporary diminution in the value of non-current investment |
1030.000 |
0.000 |
4078.000 |
|
|
|
Product recall |
2370.200 |
0.000 |
-- |
|
|
|
Loss on foreign
currency option derivatives, net (other than on loans) |
412.050 |
11242.850 |
-- |
|
|
|
Operating and other expenses |
-- |
-- |
14712.200 |
|
|
|
TOTAL (B) |
62418.470 |
104973.000 |
48260.920 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3188.600 |
(24755.880) |
18477.920 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2969.820 |
2989.990 |
541.940 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
218.780 |
(27745.870) |
17935.980 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1861.610 |
2740.830 |
2283.530 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(1642.830) |
(30486.700) |
15652.450 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(19.440) |
33.790 |
4165.190 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(1623.390) |
(30520.490) |
11487.260 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(23689.310) |
6828.680 |
(2532.230) |
|
|
|
|
|
|
|
|
|
|
Transfer from foreign projects reserve |
-- |
0.000 |
4.590 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed dividend |
-- |
0.650 |
842.080 |
|
|
|
Tax on proposed dividend |
-- |
(3.150) |
139.860 |
|
|
|
Transfer to general reserve |
-- |
0.000 |
1149.000 |
|
|
BALANCE CARRIED
TO THE B/S |
(25312.700) |
(23689.310) |
6828.680 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports on F.O.B. basis (excluding sales made to customers located in
Nepal) |
37856.870 |
54114.790 |
33603.180 |
|
|
|
Royalty, milestone, technical know-how and product development |
538.170 |
613.160 |
790.140 |
|
|
|
Interest |
104.540 |
131.180 |
-- |
|
|
|
Dividend |
10.040 |
11.830 |
13.060 |
|
|
|
Others (freight/
insurance recoveries and other operating revenues) |
1006.100 |
944.200 |
3460.050 |
|
|
TOTAL EARNINGS |
39515.720 |
55815.160 |
37866.430 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials (including packing materials) |
7179.750 |
7592.690 |
6426.470 |
|
|
|
Components, stores and spare parts |
145.750 |
134.290 |
101.290 |
|
|
|
Capital Goods |
472.490 |
560.780 |
166.750 |
|
|
TOTAL IMPORTS |
7797.990 |
8287.760 |
6694.510 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
|
|
|
|
|
- Basic |
(3.85) |
(72.42) |
27.30 |
|
|
|
- Diluted |
(3.85) |
(72.42) |
23.75 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
(2.47) |
(38.05)
|
17.21
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.61) |
(39.09)
|
27.60
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.69) |
(28.47)
|
18.04
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.09) |
(1.58)
|
0.30
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.48 |
2.02
|
0.83
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.04
|
2.04
|
LOCAL AGENCY FURTHER INFORMATION
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
No |
|
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 |
Yes |
|
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 |
Yes |
PUNJAB AND HARYANA
HIGH COURT CASE STATUS INFORMATION SYSTEMS
CASE STATUS: PENDING
|
Status of company Petitions 30 of 2011 |
|
|
SUPRIYA PHARMACEUTICALS LIMITED VS. RANBAXY LABORATORIES LIMITED |
|
|
Pet’s Adv.: Aashish Chopra, Deepak
Su Next Date of Hearing: 15.05.2013 Next Date of Hearing: Thursday, May 16, 2013 Last Listed on: Friday, January 25,
2013 Last Type: L FIR No.: No FIR details available/ Not a criminal
case Category: Company Petitions Bench for next hearing Dt: Mr. Justice
Surya Kant, Bench SI. No.:7 Bench for Last Hearing Dt: Mr. Justice Surya Kant, Bench Sl. No.:8 |
|
|
Connected
Application (S) |
Connected Matter
(S) |
|
No Connected Application. |
|
|
|
CA 116 of 2011 |
|
|
CA 117 of 2011 |
|
|
|
|
Case Updated on:
Friday, January 25, 2013 |
|
------------------------------------------------------------------------------------------------------------------------------
|
Unsecured Loans |
31.12.2012 (Rs.
in Millions) |
31.12.2011 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Term loans |
|
|
|
From banks |
|
|
|
- External commercial borrowings (ECBs) |
12046.100 |
9496.610 |
|
- Other |
2500.000 |
0.000 |
|
From other party |
22.000 |
27.500 |
|
SHORT-TERM BORROWINGS |
|
|
|
Other loans and advances |
|
|
|
From banks |
20626.150 |
18214.130 |
|
Commercial paper |
3000.000 |
8800.000 |
|
Total
|
38194.250 |
36538.240 |
COMPANY OVERVIEW
The Company
together with its subsidiaries and an associate, operates as an integrated
international pharmaceutical organisation with businesses encompassing the
entire value chain in the marketing, production and distribution of
pharmaceutical products.
The Company’s
shares are listed for trading on the National Stock Exchange and the Bombay
Stock Exchange in India. Its Global Depository Shares (representing equity
shares of the Company) are listed on the Luxembourg Stock Exchange. During the
current year, the Company has issued redeemable non-convertible debentures
which are listed for trading on the National Stock Exchange in India.
OPERATIONS
The Company
continued to be the leader amongst the pharmaceutical companies from India with
consolidated global sales of Rs.122529.000 millions against Rs.99700.000 millions
in the previous year registering a growth of 23%. Profit before exceptional
items and tax stood at Rs.14721.000 millions against a loss of Rs.10480.000
millions in the previous year. Profit after tax stood at Rs.9228.000 millions
as against a loss of Rs.28997.000 millions in the previous year despite the
challenges in some of the major markets and foreign exchange impact due to
depreciation of the Rupee against major currencies. However, in the standalone
accounts, the Company incurred a loss of Rs.1623.000 millions primarily due to
foreign exchange impact on account of depreciation of the Rupee against major
currencies, impairment of investments in subsidiaries and recall of
Atorvastatin in the U.S.A.
In April 2012, the
Company launched India’s first new drug, SynriamTM, a new age anti-malarial for
the treatment of uncomplicated Plasmodium falciparum malaria in adults, thereby
opening a new chapter in the history of Research and Development in India.
During the second
half of the year, the Company made a voluntary recall of Atorvastatin tablets
in the U.S.A. due to the potential presence of a very small foreign matter. Due
to this, the Company had to write off the inventory which has impacted the
profitability of the Company. In continuation of signing of the Consent Decree
with the USFDA, the Company is in the final stage of settlement with the U.S.
Department of Justice (DOJ) to resolve civil and criminal liabilities.
The Company
continues to maintain strategic focus on the ‘branded’ markets, improvement in
the product mix, capitalizing product level opportunities for which regulatory
approvals have been received, product rationalization, greater marketing
synergies and cost-efficiency throughout the organization.
SUBSIDIARIES AND
JOINT VENTURES
In continuation of
the pursuit of leveraging and maximizing the synergies of the Hybrid Business
Model, the Company and Daiichi Sankyo Co. Limited, have decided to integrate
the management and operations of the subsidiaries in Thailand.
With a view to create
sustainable business base in CIS countries, the Company incorporated a
subsidiary in Ukraine, through Ranbaxy (Netherlands) B.V., a wholly owned
subsidiary of the Company. Further, for competing better in German market,
another subsidiary in Germany was set up through Basics GmbH, a wholly owned
subsidiary of the Company.
The Hon’ble High
Courts of Delhi and Punjab and Haryana have approved the scheme of merger of
Rexcel Pharmaceuticals Limited, Solus Pharmaceuticals Limited, Ranbaxy Drugs
and Chemicals Company, Ranbaxy Life Sciences Research Limited and Ranbaxy SEZ
Limited with Ranbaxy Drugs Limited, another wholly owned subsidiary of the
Company.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Global Industry
Structure and Developments
The global pharmaceutical
market is estimated to grow to ~US$ 1 trillion1 in 2013, up from US$ 956
billion in 2011. The market is forecasted to grow at a CAGR of 3-6% over
2012-16 to US$ 1.1-1.2 trillion in sales by 2016. More than 60% of this
increase in the Pharmaceutical market is expected to be contributed by the
Pharmerging2 markets which are anticipated to grow at 12-15%, while the rest of
the growth is expected from the Developed3 markets which are likely to grow at
a much lower rate of 1-4%.
Pharmaceutical
sales in the United States of America (USA), the largest pharmaceutical market
in the world, is expected to be in the range of US$ 350-380 billion by 2016,
with growth rate in the range of 1-4%. Sales in Japan, the second largest
pharma market, is expected to be in the range of US$ 105-135 billion by 2016
reflecting a CAGR of 1-4% during the period 2012-16. Top 5 European markets are
expected to grow at a CAGR of -1% to 2% till 2016 to achieve sales in the range
of US$ 135-165 billion. Sales in the pharmerging markets, with their higher
rate of growth, are expected to match those in the US pharma market by 2016.
The global pharma
industry for patented products continues to remain fragmented and fiercely
competitive. It also faces increased genericisation. The generics industry, on
the other hand, has the opportunity to capitalise on the products going
off-patent in the coming years. In trying to cope with these challenges, the
industry has witnessed consolidation; this may be replicated across the global
pharma world especially in the generics space.
The mature
developed markets have a share of over 65% of the world pharmaceuticals market.
This is expected to decline to 57% by 2016. Here too, the pharmerging markets
are expected to grow at a significantly higher rate than the rest of the world
and would account for 30% of the global spending in 2016.
Generics
The generics
segment of the global pharmaceutical market contributed 25% in 2011 and is
expected to reach 35% of the total global pharma spending by 2016 growing at a
CAGR of 11-12%, compared with a 1-2% CAGR in the patented branded market.
Market expansion is led primarily by the increase in genericisation (Patented
drugs worth over US$ 100 billion, going off patent in the USA by 2016),
healthcare cost containment by governments/ payers and relatively low
penetration in some major geographies.
Contribution from
the pharmerging markets has gone up with China, India, Brazil and Russia
contributing over 40% of the sales in the generics industry. Sales growth in
pharmerging markets is expected to increase to US$ 35-45 billion in 2016 from
the current US$ 24 billion in 2012 as the healthcare infrastructure develops
and people gain better access to medicines.
United States of
America: The prescription sales of branded products continued to decline during
the year. As with the global pharma market, the USA is the largest constituent
of generics, with 30% market share by value in 2011. Over two-thirds of the total
volumes in the market comprise generic products. Pharma sales in the country
grew by 3% during 2007-11 and is expected to grow at 1-4% CAGR through 2016.
Patent expiries through 2016 resulted in brand sales (over US$ 100 billion) to
shift towards generics, which could sell at a fraction of innovator product
prices. Since 2005, growth in the generics market in the country has been ahead
of the pharma market. This trend is expected to continue over the foreseeable
future.
Europe: Major EU markets
contribute to 25% by value to the worldwide generics industry and have grown at
a faster rate when compared to the low single digit growth for the pharma
industry as a whole. The generics market growth was expected to slow down to 4%
CAGR between 2009-14. The Governments in the region are encouraging greater use
of generics as they implement austerity programmes in response to the slowdown
in the region. Lower reimbursements in countries such as Spain and reduced
savings from the patent expiries may further result in a shift towards generic
medicines. We view Europe as two different markets: West and East. While the
evolution of the West European market is more aligned to that of the developed
world, the East European markets allow branded generics nature of business.
India: The Indian
Pharmaceutical Market (IPM) is expected to grow at a CAGR of 15% to ~US$ 29
billion in 2016. The key factors driving growth in the IPM are sustained
economic growth, increase in healthcare access and increased penetration in
smaller towns. During 2012, growth in the IPM was primarily driven by volume of
around 60% and new introductions contributing around 40% with minimal price
increase. A key structural development was the introduction of the new pricing
policy (National Pharma Pricing Policy), which will expand the coverage of
medicines under price control to almost three times that of the earlier price
control mechanism, DPCO (Drugs Price Control Order).
Outlook on
Opportunities
The annual global
spend is expected to more than double to US$ 70 billion by 2016 from US$ 30
billion in 2012. About 60% will come from increased usage of existing generics
and the rest from newly available generics.
The generics
industry is expected to continue on its growth path aided by multiple factors
including (a) opportunity of over US$ 100 billion drugs going off patent by
2016; (b) increasing burden of healthcare in developed markets, especially the
USA, the UK and Germany, that are most impacted during the current challenging
economic times; (c) opportunity for generics penetration in some of the key
markets such as Japan and parts of Europe; (d) increasing access to healthcare
in developing economies; and (e) increasing competition and consolidation in
the industry. Ranbaxy has ground presence in over 43 countries and sell
products in more than 150 countries across the developed, emerging and lesser
developed parts of the world. These markets have their unique characteristics
and value drivers, such as branded generics and quality connect by end-customer
for the emerging markets, and commoditised, genericisation, in the form of
First-to-Files (FTFs) or First-to-Launches (FTLs), in the developed parts of
the world. With a strong marketing and distribution network, local
manufacturing presence and trained, multi-cultural manpower, they are well
positioned to grow across these markets. Our worldwide presence allows them to
not only adjust and adapt to changes in the macro-environment but also prepare
for the evolution of the sector per se. Further, with over 60% of revenues,
excluding FTF revenues, from the emerging markets, that are expected to grow at
a rate faster than the market as a whole and investments largely in place,
their wide geographic presence gives them a unique advantage.
FIXED ASSETS:
Tangible assets
· Freehold Land
· Leasehold Land
· Buildings
· Plant and Machinery
· Furniture and Fixtures
· Office Equipments
· Vehicles
Intangible assets
· Product development
· Patent rights, trade marks, designs and Licenses
· Computer software
· Non-compete fee
WEBSITE DETAILS:
NEWS:
RANBAXY, DAIICHI SANKYO TO TEAM UP IN BRAZIL TO EXPAND BIZ
April 17, 2013
Drug major Ranbaxy
Laboratories and its Japanese parent Daiichi Sankyo today announced
synergies in Brazil to expand their business in the Latin American nation.
As part of the collaboration, Ranbaxy
will support Daiichi Sankyo's Brazilian subsidiary, Daiichi Sankyo Brasil
Farmaceutica Ltda to enter the branded generics market, in addition to its
established business of providing innovative products, Ranbaxy said in a
statement.
"With the announced synergistic
collaboration, the Daiichi Sankyo Group will expand its presence in Brazil
through its hybrid business model promoting innovative, branded generic and
generic pharmaceuticals," it added.
In Brazil, Daiichi Sankyo has built up
its market presence with innovative pharmaceuticals through Daiichi Sankyo
Brazil.
On the other hand, Ranbaxy markets its
generic products in Brazil through its subsidiary, Ranbaxy Farmaceutica.
The pharmaceutical market in Brazil is
the biggest in Latin America, and it is expected to become the fourth biggest
in the world in 2016. Earlier, this year Ranbaxy and Daiichi Sankyo integrated
their business operations in Thailand as part of strategy to maximise
synergies.
Ranbaxy became a part of the Daiichi
Sankyo Group in 2008 after Japan's third largest drug-maker bought a majority
stake for Rs.220000.000 millions. Under the hybrid business model adopted by
the two firms, Ranbaxy primarily focuses on generic medicine research both for
itself and its parent firm, while the new drug discovery programme is
undertaken taken up by Daiichi Sankyo.
Shares of Ranbaxy were trading at
Rs.444.45 on the BSE in afternoon trade, down 0.97 percent from their previous
close.
DAIICHI SANKYO AND RANBAXY TO LEVERAGE
SYNERGIES IN THAILAND
January 16, 2013:
Daiichi Sankyo
Company, Limited (Daiichi Sankyo) and Ranbaxy Laboratories Limited (Ranbaxy)
today announced their intention to integrate their business operations in
Thailand, to leverage and maximize the synergies of the Hybrid Business Model,
which is expected to commence business on April 1, 2013. The planned
integration of operations will provide a strong foundation for future Daiichi
Sankyo Group business expansion in Thailand. The development will be mutually
beneficial to Ranbaxy and Daiichi Sankyo. It is expected to enhance their
competitiveness while offering both innovative and affordable, high quality
generic medicines to the people of Thailand as well as generate cost synergies
for both companies.
Under this strategy,
Daiichi Sankyo and Ranbaxy would integrate the management of Daiichi Sankyo’s
subsidiary in Thailand, Daiichi Sankyo (Thailand) Limited (DSTH) and Ranbaxy’s
Thailand subsidiary, Ranbaxy Unichem Company Limited (RUCL). The new
representative of the proposed integrated entity will be Suthas Thongprasert,
who presently heads DSTH.
The pharmaceutical
market in Thailand is the 2nd largest among ASEAN countries, and DSTH, has
built its presence mainly by targeting healthcare facilities through innovative
pharmaceuticals. The company was founded in 1994 and had sales of JPY 1.2
billion yen (US$ 13 million*) in FY 2011. On the other hand, RUCL markets
generic medicines focusing on primary healthcare and pharmacies. RUCL was
established in 1983 and had sales of US$ 14 million in CY 2011.
*US$ 1 dollar = JPY
89 yen
About Ranbaxy Laboratories Limited
Ranbaxy Laboratories
Limited, India’s largest pharmaceutical company, is an integrated, research
based, international pharmaceutical company producing a wide range of quality,
affordable generic medicines, trusted by healthcare professionals and patients
across geographies. Ranbaxy’s continued focus on R&D has resulted in
several approvals, in developed and emerging markets many of which incorporate
proprietary Novel Drug Delivery Systems (NDDS) and technologies, developed at
its own labs. The company has further strengthened its focus on generics
research and is increasingly working on more complex and specialty areas. Ranbaxy
serves its customers in over 125 countries and has an expanding international
portfolio of affiliates, joint ventures and alliances, ground operations in 43
countries and manufacturing operations in 8 countries. Ranbaxy is a member of
the Daiichi Sankyo Group. Through strategic in-licensing opportunities and its
hybrid business model with Daiichi Sankyo, a leading global pharma innovator
headquartered in Tokyo, Japan, Ranbaxy is introducing many innovator products
in markets around the world, where it has a strong presence. This is in line
with the company’s commitment to increase penetration and improve access to
medicines, across the globe.
About Daiichi Sankyo
The Daiichi Sankyo
Group is dedicated to the creation and supply of innovative pharmaceutical
products to address the diversified, unmet medical needs of patients in both
mature and emerging markets. While maintaining its portfolio of marketed
pharmaceuticals for hypertension, hyperlipidemia, and bacterial infections, the
Group is engaged in the development of treatments for thrombotic disorders and
focused on the discovery of novel oncology and cardiovascular-metabolic
therapies. Furthermore, the Daiichi Sankyo Group has created a “Hybrid Business
Model,” which will respond to market and customer diversity and optimize growth
opportunities across the value chain.
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.54.22 |
|
|
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.70.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
60 |
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.