MIRA INFORM REPORT

 

 

 

 

Report Date :           

03.02.2014

 

IDENTIFICATION DETAILS

 

Name :

STATE PHARMACEUTICALS MANUFACTURING CORPORATION OF SRI LANKA

 

 

Registered Office :

# 11, Sir John Kotalawala Mawatha, Kandawala Estate, Ratmalana

 

 

Country :

Sri Lanka

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

04.06.1987

 

 

Com. Reg. No.:

Not Available

 

 

Legal Form :

Established under the State Industrial Corporation Act. No. 49 of 1957

 

 

Line of Business :

Manufacturing and marketing organization for pharmaceuticals and health care products

 

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, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Sri Lanka

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

GENERAL- Basic information at a glance

       

Name of Subject of Inquiry

:

 

STATE PHARMACEUTICALS MANUFACTURING CORPORATION OF SRI LANKA

 

Legal Form  & Status

:

Established under the State Industrial Corporation Act. No. 49 of 1957  (In Operation)

 

Chairman/Managing Director

 

 :

Prof. S.D. Jayaratne

Primary Line of Business

:

Manufacturing and marketing organization for pharmaceuticals and health care products

           Head Office

 

:

#.75, Sir Baron Jayatillake Mawatha,

Colombo-01,

Sri Lanka.

 

Tel No: (00 94 11) 232 0356-9

Fax No: (00 94 11) 244 7118

 

E-mail: info@spmclanka.com

              spmclanka@sltnet.lk     

              chairmanspmc@sltnet.lk

 

Stores

 

# 11, Sir John Kotalawala Mawatha,

Kandawala Estate,

Ratmalana.

 

Tel. No: (00 94 11) 263 2288, 262 4722

Fax No: (00 94 11) 263 2962, 262 4723

   

No. of  Employees

:

Approx.200

           

 

 

COMPANY DETAILS- Registration and Shareholder Details

 

Date of Incorporation

:

04th June 1987

Registered Office

:

 

# 11, Sir John Kotalawala Mawatha, Kandawala Estate, Ratmalana

 

Board of Directors

as at

 31st December, 2010

:

Prof. S.D. Jayaratne

Chairman/Managing Director

Rohan Dharmatilleka

Director

Mervyn Gunasena

Director

Wasantha Ekanayake

Director

Dr. P.G. Maheepala

Director

Dr. Ranjanee Gamage

Director

Lalith Senanayake

Director

Auditors

:

Auditor General, Torrington Square, Colombo 07

 

Bankers

:

Bank of Ceylon, Peoples Bank, National Savings Bank

 

 

 

 

 

FINANCIAL DETAILS - Most recent available Financial Information

 

 

Year Ended

31st December 2009

Rs.

Year Ended

31st December 2008

Rs.

A

Revenue

:

1,152,684,373

890,244,408

B

 Cost of Sales

:

(932,212,166)

(765,247,234)

C

 Gross Profit / (Loss)

:

220,472,207

124,997,173

D

Overheads:

 

-

-

E

Administration Expenses

:

(60,243,163)

47,162,105)

F

Selling & Distribution Expenses

:

(21,422,203)

(9,872,668)

G

Other Operating Expenses

:

(21,678,936)

(10,527,771)

H

 

 

-

-

I

Other Operational Income

:

4,295,689

5,968,883

J

Profit / (Loss) from operation

:

121,423,593

63,403,513

K

Finance Cost

:

(3,074,568)

(3,735,466)

L

Non Operational Income

:

33,479,027

60,904,312

M

Net Profit / (Loss) before Income Tax

:

151,827,962

120,572,358

N

Income Tax

 

(53,139,786)

(42,200,326)

O

Net Profit / (Loss) After Income Tax

 

98,688,176

78,372,032

 

 

 

 

 

 

As  At

31st December 2009

Rs.

 

As  At

31st December 2008

Rs.

a)

Non-current Assets

:

1,016,872,732

674,022,654

b)

Investment

:

-

-

c)

Current Assets

:

701,588,556

577,004,345

d)

Current Liability

:

46,951,145

67,353,229

e)

Non-current liability

:

41,745,521

44,891,480

f)

Total Liabilities

:

1,718,461,288

1,251,026,999

g)

Total Assets

:

1,718,461,288

1,251,026,999

h)

 

Total Equity & Liabilities

 

:

1,718,461,288

1,251,026,999

 

 

CURRENT INVESTIGATION

 

·         History.

 

The Subject Company STATE PHARMACEUTICALS MANUFACTURING CORPORATION OF SRI LANKA was established on 04th June 1987 under the under the State Industrial Corporation Act. No. 49 of 1957, based on a grant aid received from the Japanese government through JICA (Japan International Corporation Agency)

STATE PHARMACEUTICALS MANUFACTURING CORPORATION OF SRI LANKA is a fully Sri Lanka government owned organization engaged in the manufacturing of Pharmaceuticals for its own stock and distribution in the private sector, and for use in all government hospitals of the Department of Health. The procurement of pharmaceutical raw materials and laboratory chemicals etc is done by the corporation for the manufacturing of pharmaceuticals.

 

 

                                                             Factory

                

 

 

 

 

 

 

 

 

 

 

 

 

·         Location.

 

The Subject Company is located at the client # 75, Sir Baron Jayatillake Mawatha, Colombo-01.

 

 

·         Operations Details.

 

General

The subject company primary line of business is Manufacturing and Marketing organization for

 

Main Functions of the STATE PHARMACEUTICALS MANUFACTURING                                                CORPORATION are,

 

o        Manufacturing, processing, stocking, packing and re packing of drugs.

o        Provision of technical know how of the above operation.

o        Pharmacological and pharmaceutical research and the standardization of drugs.

o        Marketing of drugs, so produced.

 

 

Products

Tablets / Capsules and Dry Syrups

 

 

 

 

 

 

 

 

 

 

 


The SPMC is a 50,000 square feet pharmaceutical manufacturing facility. The SPMC is equipped with modern Japanese and German machines with an installed capacity of 550 million units of Tablets/capsules and 60,000 litres of dry syrup. The present production exceeds installed capacity by about 95 percent and they are planning to increase it even further.

 

The SPMC claims that their  products comply with combined United States Pharmacopoeia (USP) and British Pharmacopoeia (BP) standards, and also Japanese Health Ministry standards for microbial limits for oral preparations. The atmosphere of the Ultra clean Zone where manufacture takes place is strictly controlled in regard to temperature, humidity, microbial count and particulate matter. All their products have high solubility and long shelf-life. 


The SPMC quality control department is fully equipped with a full range of modern instruments for physic chemical and microbiological testing such as High Pressure Liquid Chrornatograph, Gas Liquid Chromatograph and Infrared and Ultraviolet spectrophotometers. 


SPMC products are 'branded generics' and tablets and capsules carry the letters SPC and the labels clearly show their logo with characteristic two colour bands.

 

 

·         No of Employees

Approx. 200

 

·         Financial Data

Received from Subject Company’s Annual Report – 2009

 

·         Trade references

The subject company did not provide any trade references

 

·         Credit Recommendations

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.62.48

UK Pound

1

Rs.102.95

Euro

1

Rs.84.60

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

 

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