MIRA INFORM REPORT
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Report Date : |
10.09.2013 |
IDENTIFICATION DETAILS
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Name : |
ASTRON LIMITED |
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Registered Office : |
# 688, Galle Road, Ratmalana |
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Country : |
Sri Lanka |
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Financials (as on) : |
2010 |
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Date of Incorporation : |
03.11.1993 |
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Com. Reg. No.: |
N (PBS) 439 |
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Legal Form : |
Private Limited Liability Company. (In Operation) |
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Line of Business : |
Manufacturers, Importers and Distributors of Pharmaceuticals |
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No. of Employees : |
Approximately 600 |
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 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Sri Lanka |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
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 |
SRI LANKA - ECONOMIC OVERVIEW
Sri Lanka continues to experience strong economic growth, driven by large-scale reconstruction and development projects following the end of the 26-year conflict with the LTTE. Sri Lanka is pursuing a combination of government directed policies, private investment, both foreign and domestic, to spur growth in disadvantaged areas, develop small and medium enterprises, and increase agricultural productivity. The government struggles with high debt interest payments, a bloated civil service, and historically high budget deficits. However recent reforms to the tax code have resulted in higher revenue and lower budget deficits in recent years. The 2008-09 global financial crisis and recession exposed Sri Lanka's economic vulnerabilities and nearly caused a balance of payments crisis. Growth slowed to 3.5% in 2009. Economic activity rebounded strongly with the end of the war and an IMF agreement, resulting in two straight years of high growth in 2010 and 2011. Per capita income of $5,600 on a purchasing power parity basis is among the highest in the region.
Source
: CIA
GENERAL
- Basic information at a glance
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Name of Subject of Inquiry |
: |
ASTRON LIMITED
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|
Legal Form & Status |
: |
Private Limited Liability Company. (In Operation) |
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Managing
Director |
: |
Marise
Bernadette Deckker |
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Primary Line of Business |
: |
Manufacturers, Importers and Distributors of
Pharmaceuticals |
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Place of
Business & Factory |
: |
# 688, Galle Road, Ratmalana, Sri
Lanka Tel.
No: (00 94 11) 263 6741 / 556 6741 Fax No: (00 94 11) 263 6173 / 556 6789 Email: astron@astron.lk |
|
No of Employees |
: |
Approximately
600 |
COMPANY DETAILS
- Registration and
Shareholder Details
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Registration No |
: |
N
(PBS) 439 |
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Date of
Registration |
: |
03rd
November 1993 |
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Re-registration
No |
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PB
78 |
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Date of
Re-registration |
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06th
December 2007 |
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Registered
Office |
: |
# 688, Galle Road, Ratmalana, Sri Lanka. |
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Board of
Directors As At 07th
June 2012 |
: |
Marise
Bernadette Deckker |
Managing
Director |
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Kangaratnam
Manickavasagar |
Director |
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|
Harrin
Dhammika Jayasekera |
Director |
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P.S.
Ranjit Fernando |
Director |
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N.
Shanthi Goonawardene |
Director |
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M.
Farhad Cassim |
Director |
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D.A.S.
Warna Athukorala |
Director |
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R.
Michael De Zilwa |
Director |
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Issued Share
Capital |
: |
Rs. 57,145,500.00 |
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Nominal Value of
Share |
: |
Rs. 10.00 |
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Major Share
Holders As At 07th
June 2012 |
: |
Share Holders |
No. Of Shares |
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Marise
Bernadette Deckker |
2,948,860 |
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K.
Manickavasagar |
401,045 |
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A.
Z. Fazeel |
401,045 |
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H.
D. Jayasekara |
401,045 |
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H.
L. De mel |
40 |
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Astron
Employee Share Trust |
1,562,500 |
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Auditors |
: |
KPMG Ford Rhodes Thornton & Company |
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Company
Secretaries |
: |
Merchant Bank of SriLanka Plc |
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Bankers |
: |
DFCC Bank |
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FINANCIAL DETAILS
- Most recent available Financial Information
Recent
financial details are not available
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|
2010 Rs. |
2009 Rs. |
||
|
A |
Revenue |
: |
975,691581 |
782,273,706 |
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B |
Cost of Sales |
: |
(512,943,813) |
(454,692,341) |
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C |
Gross Profit |
: |
462,747,768 |
327,581,365 |
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D |
Other Income |
: |
17,224,854 |
7,811,149 |
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E |
Administration Expense |
: |
(63,838,244) |
(50,711,110) |
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F |
Distribution Expense |
: |
(228,741,915) |
(156,898,487) |
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G |
Profit from Operations |
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187,392,463 |
127,782,917 |
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H |
Finance Expense |
: |
(12,497,008) |
(26,697,732) |
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I |
Net Profit / (Loss) before Tax |
: |
174,895,455 |
101,085,185 |
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J |
Taxation |
: |
(72,761,690) |
(41,258,164) |
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K |
Net Profit / (Loss) After Tax: |
: |
102,133,765 |
59,827,021 |
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2010 Rs |
2009 Rs |
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a) |
Non-current Assets |
: |
434,639,286 |
396,221,169 |
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b) |
Current Assets |
: |
364,979,289 |
295,282,753 |
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c) |
Current Liability |
: |
198,883,139 |
158,521,612 |
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d) |
Non-current liability |
: |
89,655,499 |
93,749,022 |
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e) |
Total Liabilities |
: |
288,538,637 |
252,270,634 |
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f) |
Total Assets |
: |
799,618,575 |
691,503,922 |
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g) |
Net Worth |
: |
511,079,938 |
439,233,288 |
CURRENT INVESTIGATION
Company Logo
·
History.
The Subject Company ASTRON
LIMITED is a Private
Limited Liability Company
incorporated on 03rd Nov 1993 under registration number N
(PBS) 439 and then company was re-registered on 06th December
2007 under registration number PB 78.
The subject
company was earlier known as ASTRON HOLDINGS LTD and changed to
ASTRON LTD on 07th April 1995.
·
Location.
The Subject
Company is located at the client # 688, Galle Road, Ratmalana, Sri Lanka
·
Operational
Details.
General
The subject company primary
line of business is manufacturing,
Importing and Marketing of all types of Pharmaceuticals which are distributed islandwide to
appointed dealers of the subject company.
The subject
company has earned certified ISO 22000, HACCP
The subject
company has competition from the state Pharmaceuticals Corporation coming under
the Ministry of Health. The subject company has their own marketing team to promote
their products through Doctors, Dispensaries, Hospitals and Coordinating
supplies to dealers. The subject company outside appearance is very attractive
and maintenance, cleanliness, housekeeping and safety procedures are given high
priority.
Products
Antibiotics
Cough preparation
Anti inflammatory
Antibiotic
Anthelmintic
Vitamins
Minerals
Antihistamine
Anti acne preparation
Astron is a member
of the following associations:
- Sri Lanka
Pharmaceutical Manufacturers Association - founder member
- Sri Lanka
Chamber of Pharmaceutical Industries - founder member
- Sri Lanka
Poultry Industry Association
- Ceylon
Chamber of Commerce
- Employers
Federation of Sri Lanka
- American
Chamber of Commerce of Sri Lanka
- Industrial
Association of Sri Lanka
- Sri Lanka
Maldives Bilateral Business Council
- Sri Lanka
China Business Council
Brands
Astron Pharmaceuticals
Astron Consumer
Astron Animal Health
Import Countries
India, USA and
Netherlands.
No of Employees
Approximately 600
·
Financial Data
The company has
declined to provide information on its finances
·
Trade references
Sri Lanka Pharmaceutical Manufacturers
Association
Sri Lanka Chamber of
Pharmaceutical Industries
Sri Lanka Poultry Industry Association
Ceylon Chamber of Commerce
·
Credit
Recommendations
Since no financial
information has been forthcoming from the company, it is not possible to
comment on the merits or otherwise of the company.
No computerised data bases exist to make
checks whether the partners or the company has any legal action or lawsuit
initiated against any of them but informal (but not in-depth) checks do not
indicate any such cases in the public knowledge.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.96 |
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|
1 |
Rs.102.91 |
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Euro |
1 |
Rs.86.58 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.