|
|
|
MIRA INFORM REPORT
|
Report No. : |
497542 |
|
Report Date : |
14.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
CIPLA HEALTH LIMITED |
|
|
|
|
Registered
Office : |
Tower B, 7th Floor, Peninsula Business Park, Ganpatrao Kadam Marg, Lower
Parel, Mumbai – 400013, Maharashtra |
|
Tel. No.: |
91-22-24826000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
27.08.2015 |
|
|
|
|
Com. Reg. No.: |
11-267880 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 14.402 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH2015PLC267880 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC21443C |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCC1585R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged Manufacture and sale of pharmaceuticals products in consumer healthcare sector. (Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2015 and is a wholly owned
subsidiary of “Cipla Limited”. The consumer healthcare business of Cipla Limited was transferred to Company
“Cipla Healthcare Limited” on a slump sale basis effective March 2016. The
transferred consumer health business comprises of three products (Nicotex,
Nicogum and Cofsils) along with the employees, assets and liabilities to use
Omni/ Omnigel brand for future line extensions. The launch of Nicotex has been a great success, with Nicotex helping
thousands of consumers towards quitting smoking. The company is on a good
momentum of business, with Nicotex marketing campaign winning prestigious awards
such as Effie Gold, Goa Fest – a big win for such a young brand. The company
aims to foray into other categories in the consumer healthcare space and
offer a series of wellness products to Indian consumers in the coming year. As per the Registrar of Companies date of balance sheet (i.e.
financial filed) is shown as 31.03.2017 but documents related to the
financial for the year 31.03.2017 are not available from any sources. For the financial year ended 2016, the company has reported healthy
scale of operations but has failed to achieved from any sources. The company possesses healthy financial profile along with good
networth position and above average debt coverage indicators. The company’s also enjoy financial flexibility by virtue of being subsidiary
of the “Cipla Limited.” Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered good for normal
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2016.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is not
listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 14.03.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly available
IBBI (Insolvency and Bankruptcy Board of India) list as of report date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE: Tel. No.: 91-22-24826000
LOCATIONS
|
Registered Office : |
Tower B, 7th Floor, Peninsula Business Park, Ganpatrao Kadam Marg,
Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-24826000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Head Office : |
Art Guild House, B-Wing, 4th Floor, Phoenix Market city, 400072, Kurla West, Mumbai, Maharashtra, India |
|
Tel. No.: |
91-22-62453800 |
|
Fax No.: |
|
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mrs. Samina Vaziralli |
|
Designation : |
Director |
|
Address : |
Flat No 401/402, R.K. Sadan, 4th Floor, 63 Sir Pochkhanwala Road, Worli, Mumbai - 400025, Maharashtra, India |
|
Date of Birth/Age : |
01.12.1975 |
|
Qualification : |
B.Com, MSc in International Accounting and Finance |
|
Date of Appointment : |
27.08.2015 |
|
PAN No.: |
AABPH1131J |
|
DIN No.: |
00027923 |
|
|
|
|
Name : |
Mr. Prem Venkatachalam Pavoor |
|
Designation : |
Director |
|
Address : |
1704/3C, Whispering Palms, Lokhandwala Complex Akurli Road, Kandivali (East), Mumbai - 400101, Maharashtra, India |
|
Date of Birth/Age : |
22.08.1978 |
|
Date of Appointment : |
13.04.2016 |
|
PAN No.: |
AHGPP5592B |
|
DIN No.: |
05268309 |
|
|
|
|
Name : |
Mr. Chandru Jaswant Chawla |
|
Designation : |
Director |
|
Address : |
14/74, Sunrise Bandra Reclamation, Bandra (West), Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
24.02.1966 |
|
Qualification : |
Engineer, PG Diploma in Intl. Trade |
|
Date of Appointment : |
27.08.2015 |
|
PAN No.: |
ADHPC3789J |
|
DIN No.: |
06754064 |
|
|
|
|
Name : |
Mr. Nikhil Ashokkumar Chopra |
|
Designation : |
Director |
|
Address : |
301, Dosti Orchid, Dosti Acres, New Uphill Link Road, Off S M Road, Wadala (East), Mumbai - 400037, Maharashtra, India |
|
Date of Birth/Age : |
01.10.1973 |
|
Qualification : |
M.Sc |
|
Date of Appointment : |
27.08.2015 |
|
PAN No.: |
ACXPC7318J |
|
DIN No.: |
07220097 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Equity Shareholders |
|
No. of Shares |
|
Cipla Limited, India |
|
1440202 |
|
Samina Vaziralli Jointly with Cipla Limited |
|
1 |
|
Radhakrishnan Sethuraman Jointly with Cipla Limited |
|
1 |
|
Gopalkrishna Ramachandran Jointly with Cipla Limited |
|
1 |
|
Mital Arvind Sanghvi Jointly with Cipla Limited |
|
1 |
|
Dinesh Ramniranjan Jointly with Cipla Limited |
|
1 |
|
Chandru Jaswant Chawla Jointly with Cipla Limited |
|
1 |
|
KP Corporate Solutions Limited as trustee of Cipla Health Employees
Stock Option Trust |
|
75800 |
|
FIL Capital Investment (Mauritius) II Limited |
|
1000 |
|
Total |
|
1517008 |
|
Names of Convertible Preference Shareholders |
|
No. of Shares |
|
FIL Capital Investment (Mauritius) II Limited |
|
534658 |
|
Total |
|
534658
|
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Cipla Limited, India |
|
1440202 |
|
Samina Vaziralli Jointly with Cipla Limited |
|
1 |
|
Radhakrishnan Sethuraman Jointly with Cipla Limited |
|
1 |
|
Gopalkrishna Ramachandran Jointly with Cipla Limited |
|
1 |
|
Mital Arvind Sanghvi Jointly with Cipla Limited |
|
1 |
|
Dinesh Ramniranjan Jointly with Cipla Limited |
|
1 |
|
Chandru Jaswant Chawla Jointly with Cipla Limited |
|
1 |
|
KP Corporate Solutions Limited as trustee of Cipla Health Employees
Stock Option Trust |
|
75800 |
|
Total |
|
1516008 |
LIST OF ALLOTTEES
As on 12.04.2016
|
Names of Equity Shareholders |
|
No. of Shares |
|
FIL Cipla Investment (Mauritius) II Limited, Mauritius |
|
534658 |
|
Total |
|
534658 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
94.94 |
|
Promoter – Other Trust |
5.00 |
|
Public - Bodies corporate |
0.06 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged Manufacture and sale of pharmaceuticals products in consumer healthcare sector. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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No. of Employees : |
Information declined by the management |
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|
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|
Bankers : |
|
||||||||||||||||||||||
|
|
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Co LLP Chartered Accountants |
|
Address : |
L-41 Connaught Circus, New Delhi – 110001, India |
|
Tel. No.: |
91-11-42787070 |
|
Fax No.: |
91-11-42787071 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFW4298E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
L24239MH1935PLC002380 |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
|
|
|
|
|
Fellow Subsidiary
company : |
U52311GA1992PTC002801
|
CAPITAL STRUCTURE
After 27.09.2017
Authorised Capital : INR 100.000
Million
Issued, Subscribed & Paid-up Capital : INR 41.903 Million
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
1000000 |
Preference shares |
INR 50/- each |
INR 50.000 Million |
|
|
Total
|
|
INR 100.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1440208 |
Equity Shares |
INR 10/- each |
INR 14.402
Million |
|
|
|
|
|
Disclosure of
Shareholders holding more than 5%.
|
Type of Equity share |
Name of shareholder |
CIN |
PAN of shareholder |
Country of incorporation or residence of shareholder |
Number of shares held in company |
Percentage of shareholding in company |
|
Equity Shares |
Cipla Limited |
L24239MH1935PLC002380 |
AAACC1450B |
India |
1440208 |
95% |
|
Equity Shares |
Cipla Health Employees Stock Option Trust |
|
AABTC8942L |
India |
75800 |
5% |
|
Issued, subscribed
and fully paid up shares |
INR in Million |
|
1,516,008 Equity shares of INR 10 each |
15.160 |
|
Less: Amount recoverable from Cipla Health Employees Stock Option Trust (face value of 75,800 equity shares allotted to the Trust) |
(0.758) |
|
|
|
|
Total issued,
subscribed and fully paid up shares |
14.402 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
|
|
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
14.402 |
|
(b) Reserves & Surplus |
|
|
292.699 |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
307.101 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
4.378 |
|
Total
Non-current Liabilities (3) |
|
|
4.378 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
5.000 |
|
(b) Trade payables |
|
|
10.622 |
|
(c) Other current liabilities |
|
|
73.914 |
|
(d) Short-term provisions |
|
|
15.880 |
|
Total
Current Liabilities (4) |
|
|
105.416 |
|
|
|
|
|
|
TOTAL |
|
|
416.895 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
5.914 |
|
(ii) Intangible Assets |
|
|
0.365 |
|
(iii) Capital work-in-progress |
|
|
1.159 |
|
(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
130.002 |
|
(d) Long-term Loan and Advances |
|
|
3.967 |
|
(e) Other Non-current assets |
|
|
0.255 |
|
Total
Non-Current Assets |
|
|
141.662 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
15.000 |
|
(b) Inventories |
|
|
128.347 |
|
(c) Trade receivables |
|
|
7.047 |
|
(d) Cash and cash equivalents |
|
|
10.996 |
|
(e) Short-term loans and
advances |
|
|
49.050 |
|
(f) Other current assets |
|
|
64.793 |
|
Total
Current Assets |
|
|
275.233 |
|
|
|
|
|
|
TOTAL |
|
|
416.895 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
39.014 |
|
|
Other Income |
|
|
1.535 |
|
|
TOTAL
|
|
|
40.549 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
4.206 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
|
|
4.307 |
|
|
Employees benefits expense |
|
|
15.982 |
|
|
Other expenses |
|
|
408.722 |
|
|
TOTAL |
|
|
433.217 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
|
|
(392.668) |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
0.088 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
(392.756) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
|
0.144 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
|
(392.900) |
|
|
|
|
|
|
|
Less |
TAX |
|
|
(130.002) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
|
(262.898) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
|
(1812.02) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
|
|
31.03.2016 |
|
Current Maturities of Long term debt |
|
|
NA |
|
Net cash flows from (used in) operations |
|
|
(389.629) |
|
Net cash flow from operating activity |
|
|
(389.629) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
|
65.93 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
|
|
5.54 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
|
921.79 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
|
(3.06) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
|
(52.79) |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
|
0.25 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
|
0.02 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
|
0.34 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
|
0.02 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
|
(4462.14) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
|
|
(673.86) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
|
(63.06) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
|
(85.61) |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
|
2.61 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
|
|
1.39 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
|
0.74 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
|
0.35 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
|
2.61 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in Report
(Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the Annual
Report |
No |
STATE OF COMPANY’S
AFFAIRS
The consumer healthcare business of Cipla Limited was transferred to the Company on a slump sale basis effective March 2016. The transferred consumer health business comprises of three products (Nicotex, Nicogum, Cofsils) along with the employees, assets and liabilities and the license to use Omni / Omnigel brand for future line extensions.
The launch of Nicotex has been a great success, with Nicotex helping thousands of consumers towards quitting smoking. The Company is on a good momentum of business, with Nicotex marketing campaign winning prestigious awards such as Effie Gold, Goa Fest – a big win for such a young brand. The Company aims to foray into other categories in the consumer healthcare space and offer a series of wellness products to Indian consumers in the coming years.
UNSECURED LOAN
|
Unsecured Loan |
|
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Intercorporate borrowings |
|
5.000 |
|
Total |
|
5.000 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Plant and equipment
- Office equipment
- Computer equipments
PRESS RELEASE
CIPLA HEALTH TO EXPAND CONSUMER HEALTH BIZ WITH NEW LAUNCHES
AND ACQUISITIONS
The company is
developing a pipeline of products in child nutrition, an area dominated by
multinationals such as Abbott, GSK, Kraft Heinz and Mondelez International.
November 29, 2017
Cipla Health, the consumer healthcare arm of Cipla, plans to revitalise its over-the-counter (OTC) consumer business through more in-house launches and brand acquisitions in the coming quarters.
“We are looking at switching Cipla’s prescription products into consumer products and organic launches wherever there is a huge unmet need of it like the immune-boosters that we launched now,” said Anantha Nayak, Chief Executive Officer of Cipla Health.
“We are also actively looking at any kind of inorganic growth through mergers and acquisitions,” Nayak added.
He said the company is looking at new product launches in segments such as gastrointestinal, pain and analgesic, cough and cold and nutritional supplements.
The company recently launched kids nutritional supplement ActivKids Immuno Boosters developed by Cipla’s in-house research and development team.
Nayak said Cipla Health is developing a pipeline of products in child nutrition, an area dominated by multinationals such as Abbott, GSK, Kraft Heinz and Mondelez International.
“I am keen on the kids immunity space,” Nayak added.
The 82-year-old company spun off its consumer health business and named it Cipla Health in 2015 to give it a FMCG-like focus. Subsequently, private equity (PE) firm Eight Roads Ventures India (formerly Fidelity Growth Partners) bought a minority stake in Cipla Health for Rs 145 crore.
Cipla holds 70.20 percent in the subsidiary while the remainder is held by Eight Roads Ventures India.
Cipla Health had sales of around Rs 100 crore for the year ended March 2017.
Cipla Health OTC portfolio includes nicotine replacement therapy gum Nicotex and cough lozenges Cofsil.
The USD 5 billion Indian consumer health company is poised for higher growth as people shift towards wellness from illness.
“When we benchmark it against other developing markets – India's wellness market is very small and is at an inflection point,” Nayak said.
Nayak said he expects the government to take a decision to switch more prescription medicines (Rx) to OTC category.
“This will help open up the Indian consumer market,” Nayak added.
Cipla competes against Sun Pharma that has India’s largest consumer health business, which it acquired through its purchase of Ranbaxy in 2014.
Sun Pharma sells analgesics, dietary supplements and antacids.
Large drug makers are increasingly diversifying into the consumer health segment to insulate themselves against competition and price caps in the Indian drug market.
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 records 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 records 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
|
INR |
|
US Dollar |
1 |
INR 65.01 |
|
|
1 |
INR 90.12 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.