D&B BIR Comprehensive Report

SAMPLE INDIA ONE LIMITEDACTIVE

BUSINESSTRADESTYLE(S) : SAMPLE INDIA

Location:
Telephone(s):D-U-N-S Number:2nd Floor, Towers No. ** Industrial Estate *** Chennai 6***66 Tamil Nadu India(+91) 044 423XXX00 (+91) 044 423XXX51
95-545-4002

IDENTIFICATION & SUMMARYIDENTIFICATION

D-U-N-S Number:

Subscriber Id:

E-Mail:95-545-4002

123456XXX9

info@sampleindia.com,
cs@sampleindia.com

Registration No:

Facsimile(s):L24***TN1990PLCXXXX53(+91) 044 423XXX50

Website:www.sampleindia.com

SUMMARY

Type of Business:

Primary SIC:

Registered charge:

Public Limited Liability Company

2834 0000

Yes

Established:Line of Business Description:

Employs:Apr 16, 1990

Engaged in manufacturing
613 (Total)
pharmaceuticals, medicinal chemicals, andbotanical products. It also undertakes
Principal:
contract manufacturing services.
C M P***,Chairman and Managing
Director
Exports:

Control:
Apr 16, 1990
Imports:
Yes

Yes

RISK ASSESSMENT

Risk Indicator

4
Low Risk (1)High Risk (4)Risk Level of the Company is : HIGH

D&B Rating

Former Rating

Financial Strength
5A

Risk Indicator
4

Based on Networth

Poor (Significant Risk - Review
Carefully)

Financial Strength
N/A

Risk Indicator
N/A

The Dun & Bradstreet Rating of 5A4 indicates:
Financial Strength of INR over 4,800,000,000 based on net worth
A Risk Indicator which is Poor

The Financial Strength component of D&B Rating is derived from Tangible Net Worth of the company / entity. The changes are being
made to the ranges of monetary values of the Tangible Networth cut offs for both Current as well as Former assigned Financial
Strength component. This change applies to all Indian businesses in the Dun & Bradstreet Data Cloud. The ranges are being updated
to align with Dun & Bradstreet global standards from 21st April 2023.

FAILURE SCOREThe Dun and Bradstreet Failure Score predicts the likelihood that a business will go bankrupt in the next 12 months. Dun andBradstreet defines a bankrupt business as a Failed Business. The Dun and Bradstreet Failure Score predicts the likelihood of such a
Failure.
Subject Company

1
High Risk (1)Low Risk (100)Failure Score(Highest Risk: 1,001; Lowest Risk: 1,999):
1,001
Failure Score Percentile : (Highest Risk: 1; Lowest Risk:
100): 1
Probability of failure for businesses with this score: 4.72 %The business has not filed financial statement for 3+ years
with Local Registry
Incidence of Failure - India Database Average : 0.85%

Relative Risk

Percentile

Failure Score Class

Above average

1(Highest Risk: 1; Lowest Risk: 100)

4(Highest Risk: 4; Lowest Risk: 1)

Business and Industry Trends

The subject business has a Financial Stress Percentile thatshows a higher risk than other businesses in the same
industry.

34
High Risk (1)Trends in Financial Stress Score

Low Risk (100)

100
90
80
70
60
50
40
30
20
10
0
JUN

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

2022

2022

2022

2022

2022

2022

2022

2023

2023

2023

2023

2023

Subject Company

Industry MedianIndustry Upper

Industry Lower

Key to Scores
Failure Score Class

Minimum
Score

Maximum
Score

Minimum
Percentile

Maximum
Percentile

Probability of
Failure

1

1551

1999

91

100

0.04%

2

1411

1550

35

90

0.31%

3

1366

1410

15

34

1.19%

4

1001

1365

1

14

2.13%

COMPLIANCE ASSESSMENT SUMMARY RBI Defaulter List Match Not Found.

 EPF Delay List Match Not Found.

 NCLT Match Not Found.

COMPANY PROFILE & SWOT ANALYSISCOMPANY PROFILE:
The Company was established on 1st April 1985 as a Partnership Firm under the name Sample Techsol.
On 16th April 1990 Company converted to Public Limited Liability Company under the name Xyz Labs Private Limited.

On 12th February 2007, Company changed its name to Abc Labs Limited.
On 19th July 2007, Company changed its name to Pqr Labs Limited.
On 24th July 2007, Company changed its name to Pqr Labs Private Limited.
On 21st February 2012, Company changed its name to Def Labs Private Limited.
Later on, 16th August 2016, Company acquired its current name.
The Company is Engaged in manufacturing pharmaceuticals, medicinal chemicals, and botanical products. It also undertakes
contract manufacturing services.
The Company controls its business operations from its head office located in Chennai, Tamil Nadu.
STRENGTHS:The Company is into existence for more than 32 years.
Experienced and qualified management.
Sales of the Company has increased during the period under review.
Net Profit of the Company has increased during the period under review.
Tangible Net worth of the Company has increased during the period under review.
Capital Employed of the Company has increased during the period under review.
Leverage position of the Company has remained comfortable.
WEAKNESSES:
Net Profit Margin of the Company has fluctuated during the period under review.
Return on Capital Employed (RoCE) has fluctuated during the period under review.
Return on Net worth (RoNW) has fluctuated during the period under review.
OPPORTUNITIES:The Indian pharmaceutical industry is the world’s third largest in terms of volume and ranks 11th in terms of value. It is among
the faster-growing markets and the largest exporter of generic drugs by volume. Outside of the US, India has the largest numberof USFDA-approved pharmaceutical manufacturing facilities. Over the last year, India played a crucial role in supplying therapeutic
drugs for COVID-19 treatment across the world and is also one of the key manufacturers of some of the COVID-19 vaccines.
Going forward, India is likely to maintain a leadership position in the manufacture and supply of high-quality generic medicines aswell as a major manufacturer of COVID-19 vaccines.
The Indian pharmaceutical market recorded ~9.5% CAGR between 2016-20 to reach US$21 Billion. It is expected to grow at 7.510.5% CAGR to US$28-32 Billion by 2025.
The pandemic has resulted in increased healthcare awareness globally. This augurs well for Pharma companies.
Favorable macro-economic parameters for India and emerging markets are likely to ensure reasonable volume growth forpharmaceutical products across these markets in the long term.
The pandemic has also brought forward the need for therapeutic medicines for treating COVID-19 symptoms, extending an
opportunity for pharmaceutical companies to service the urgent and vital needs of patients. However, the demand for suchproducts keeps fluctuating depending on the number of viral infections
In June 2021, Finance Minister Ms. Nirmala Sitharaman announced an additional outlay of Rs. 197,000 crore (US $26,578.3 million)
that will be utilised over five years for the pharmaceutical PLI scheme in 13 key sectors such as active pharmaceutical ingredients,
drug intermediaries and key starting materials.
THREATS:
Given the additional spending on battling the pandemic, governments across the world may try to control pricing of certain
products, which may lead to government-mandated price controls on pharmaceutical products.

The lingering impacts of COVID-19 will continue to have a serious impact on the industry through the end of the year, in part
because reduced consumer confidence means lower than usual demand for pharmaceuticals. In addition, customer purchasing
power may remain low as unemployment continues to be a challenge around the world.
There could be long distances of trucking to and from airports. Margins for trucking are generally low and the petrol price is high,which could be a challenge when shipping sensitive pharmaceuticals. Trucks can be stuck for hours in traffic and there have been
scenarios where trucks have been stuck at airports for three to four days.
Generic price erosion, rising market rivalry, greater regulatory scrutiny, new tax systems, domestic pricing controls and relianceon raw resources from foreign countries are some current challenges faced by the industry.

CURRENT INVESTIGATIONINVESTIGATION INFORMATIONOn Apr 10, 2023, M N O****, Director confirmed all information in this report.
Site Visit was conducted on :Apr 10, 2023

Other comments :The information in this report has been compiled from D&B known sources and its independent research

LOCATION DETAILSSize of Premise

15000 square feet

Site Details Type

Industrial zone

Site Location

Main Road

Kind of Buildings

adobe

On Floor

Entire Building

Total Floors in Building

3

Type of Occupation

Owned

Location Used As
Administrative office

Office shared by group companies

NO

INDUSTRY HIGHLIGHTSPROFILE:
Indian pharmaceutical industry is ranked as the third largest in the world, in terms of volumes of drugs manufactured andthirteenth largest, in terms of value. The Country is also the world’s largest supplier of cost-effective generic drugs, and accounts fornearly one fifth of the global trade in generic drugs. India has achieved an enviable position in global generic drug market on theback of its strength in organic chemical synthesis and process engineering.
Indian pharmaceutical industry, which followed process patent structure for close to 30 years -till the amendment of Patent Act in2005- was favorable for generic drug manufacturers. The process patent structure allowed industry to launch low-cost alternatives
to innovator drugs, if the manufacturing process was different. India with its technically skilled labor force was able to reverse
engineer patented drugs, and hence became one of the largest and most developed generic drug markets in the world.
The strong generic drug manufacturing infrastructure developed during the process patent regime helped India to become theleading exporter of generic drugs. Additionally, heavy investments in the manufacturing infrastructure which includes the highest
number of US FDA certified facilities (outside the US), also ensured Indian drug manufacturers to meet the quality standards
mandated by regulated drug markets like the US and EU.

Today India accounts for nearly 60% of the global vaccine production. This includes nearly 70% of WHO demand for vaccines tocombat Diphtheria, Tetanus, Pertussis and BCG vaccine as well as nearly 90% of measles vaccine demand. Nearly 80% of theantiretrovirals drugs used to combat AIDS used globally is supplied by Indian pharmaceutical companies.
The change in pharmaceutical patent regime have resulted in increased focus on Research & Development initiatives. Today, in thefield of innovator drugs as well as biologics, Indian pharmaceutical industry is considered a leader among developing economies.
Key segments in Indian pharmaceutical industry are:
• Active Pharmaceutical Ingredient / Bulk Drug Manufacturers• Formulation Manufacturers• Contract Research and Manufacturing Service Companies• Biotechnology Companies
REGULATORY SCENARIO:
Indian pharmaceutical industry is guided by two notable regulatory aspects, namely The Patent (Amendment) Act 2005 and Drug
(Control) Act, 1950. The former changed the intellectual property (IP) framework in Indian pharmaceutical industry, making it illegal
to market generic formulations of drugs that are under patent protection.
Schemes to improve bulk drug production in India
The Government of India has notified a Production Linked Incentive (PLI) scheme for promoting the domestic production of Key
Starting Materials (KSM)/Drug Intermediates (DI) / Active Pharmaceutical Ingredients (API). The gazette notification was publishedon 21 July 2020.
The need for PLI scheme: Despite being a major pharmaceutical manufacturing and export hub, India is dependent on imports forpharma raw materials (namely APIs). As per the data quoted in the notification, APIs accounted for nearly 63% of total
pharmaceutical products imported to India in FY 2019. Industry sources cite that the domestic pharmaceutical industry meets morethan 80% of its raw material demand through imports. This high import dependence is a major risk that has the potential to derail
the growth prospect of the industry.
If India is to lay claim to the tag of pharmacy to the world, it is imperative that all aspect of drug making is concentrated in domestic
market. Moreover, bulk of the raw materials imported comes from China. This high concentration of imports from a single market
further increases the risk for the industry. All these factors have prompted the Government to initiate a policy that would
encourage domestic API manufacturing. It is a known fact that the preference for imported raw materials was purely due toeconomic reason.
Domestic API firms are not able to match the low price offered by imports and thus eventually lost out to cheaper imports. The
policy had to address this economic reason, and hence the need for an incentive structure. Moreover, the thrust on indigenization
is in line with the Atmanirbhar Bharat scheme that is currently promoted by the Government.
The Scheme:• The PLI scheme provides incentives on the production of 41 eligible products notified by the Department of Pharmaceuticals.
These 41 products cover the 53 APIs that is considered critical and is entirely met through imports. The scheme has outlined aminimum threshold investment and minimum annual production volume for each of these 41 products and has also capped thenumber of eligible applicants in each product category. These 41 products cover KSMs, DI and API that are made either throughfermentation or chemical synthesis (4 fermentation based KSM/DI, 10 fermentation based niche KSM/DI/API, 4 chemicallysynthesized KSM/DI and 23 chemical synthesis based KSM/DI/API).
• The total incentive outlined by the policy is approximately INR 6,940 Crore while the incentive period is for production happening
between FY 2021 and FY 2030. Considering the complexity involved in production process, a gestation period is allotted to theselected applicant to start manufacturing. This is 2 years in the case of fermentation based compound and one year in the case ofchemical synthesis. It is mandated that the incentive is applicable only on domestic sales, and the incentive would be calculated on
the net sale of the eligible product made in the domestic market.
• The incentive rate is flat 10% for chemically synthesized product throughout the term period while for fermentation based
product it is staggered into three buckets. For fermentation based product the incentive rate of 20% is applied for period FY 202324 to FY 2026-27, 15% for period FY 2027-28 and 5% for the period FY 2028-29. The Government has also fixed the maximum
incentive that can be disbursed for each of the year and for each class of product. The incentive is calculated on the sales price ofthe eligible product, which should be quoted by the applicant in the application. The quoted sales price is only for incentive
calculation and need not be the actual sales price on which the product is sold by the applicant.
• However, the quoted sales price in the application will remain fixed throughout the tenure of the scheme and is the maximum
price on which incentive can be sought. For incentive calculation the incentive rate would be applied to net sales, calculated basedon actual sales price or quoted sales price in the application, whichever is lower. Incentive disbursal can happen either twice a year
(6 month period) or once a year.
• Investment criteria: The policy has outlined committed investment & production capacity for each of the 41 products that isincluded in the scheme. The investment can include that incurred on setting up manufacturing infrastructure (plant & equipment
and associated utilities), R&D infrastructure and buildings. However, there is a cap of 20% of total investment in the case of expense
for setting up buildings to house the manufacturing infrastructure. The Government has also mandated that the plant & machineryand other utilities that would be used for manufacturing the eligible products cannot be old / second hand / refurbished. It can beeither purchased upfront or leased in the name of the applicant.
The Impact of PLI scheme on Indian bulk drug industry
The API/ bulk drug manufacturing in India has been struggling, despite the strong growth in formulation business. Ideally the strong
formulation segment is a clear indicator of strong bulk drug demand and a positive sign for domestic API manufacturers. However,in India's case this did not happen as domestic industry could not meet the competitive pricing set by imports. The liberal importregime in API segment meant low cost manufacturing destinations like China could fully exploit the growing demand.

Chinese API industry can produce at low cost due to the subsidies and benefits provided by the Chinese Government. This subsidy
cushion helps Chinese API firms to price their products at very low rate in Indian market. The economic consideration offered by
low price have allured formulation makers to ditch domestic APIs in favor of imports. Indian API industry found it hard to match theimport price, as the cost of production was high. Moreover, the industry did not have the subsidies and schemes to protect its
bottom-line. This scenario continued and eventually domestic API industry lost out to imports, becoming just a foot note in the
Indian pharmaceutical story.
Although bulk drug industry has long raised the matter, highlighting the risk of import dependency, very little was done to alleviate
this risk. Although the Government unveiled a bulk drug policy, it has remained a non-starter. It took the covid pandemic to bringthis issue to limelight. The covid disruptions in China during late last year and early this year led to suspension of API imports fromthat country. This led to a situation of severe deficit, resulting in spike in cost of various APIs used by the pharma industry, withsome rising as high as 70 to 100%. This price rises seriously impacted the Indian pharmaceutical industry and threatened to disrupt
the industry functioning. However, the improvement in covid scenario in China led to easing of situation as API imports resumed.
Nevertheless, this short deficit and price hike scenario did raise uncomfortable questions on import dependency. The PLI launched
could be construed as Government's response to those concerns.
The success of this program will depend on the response from the industry. On paper the incentive structure looks robust, however
the effectiveness can only be measured once the program is implemented. The PLI scheme has a window of 120 days (from thedate of notification) for applicants to apply. Approval and selection would happen only once this 120 day is over, which would beearly 2021.
Scheme for Promotion of Bulk Drug ParkThe Union Government in March 2020 approved a scheme titled “Promotion of Bulk Drug Parks”, which was later notified via
Government Gazette on 21 July 2020. As the name implies, the objective of this scheme is creation of bulk drug parks that would
help in building a sustainable bulk drug product infrastructure in the country. The scheme focuses on providing the common
infrastructure facilities (CIF) - associated with bulk drug manufacturing – in a dedicated space. The scheme has a budget outlay of
INR 3,000 crore meant towards setting up three such parks, in three separate states. The financial support will be in the form ofgrant-in-aid, with nearly 90% of the cost in the case of North East state / Hilly terrain states and up to 70% support in case of otherstates.
The state governments would be taking the lead in setting up parks, by setting up a State Implementation Agency (SIA). Theinterested state governments can apply for this scheme, and on selected will be the provided the financial support in the form of a
grant-in-aid. This financial assistance will be used for setting up the bulk drug park with CIF that will include effluent treatment,
solvent recovery & distillation, steam generation & distribution, laboratories, testing centers, and other supporting units. The bulk
drug units that will come up in the park can utilize these CIFs. The core objective of the scheme is to reduce the manufacturing cost
involved in bulk drug production, which will accrue due to the usage of CIFs, optimization of resources and economies of scale thatthe park provides.
The time period for the scheme is FY 2020-21 to FY 2024-25, and all three bulk drug parks should be operational by then. Half of thearea of the park will be reserved for bulk drug manufacturing units. It will not be open to formulation manufacturing. The units
should be manufacturing either APIs/KSMs/DI, the list of which has been given by the scheme. The scheme lists out nearly 450 APIs
and 24 KSM/DI as eligible products and the units should be manufacturing these products. Currently the country is dependent on
imports for these products, and the bulk drug park is aimed at reducing the import dependence.
PLI Scheme: Current Status
According to the Government notification, pharmaceutical companies applying for the PLI will be grouped into three segments –Group A, B & C. The grouping is based on their Global Manufacturing Revenue (GMR). Criteria for segmenting applicants into threedefined groups:• Group A: Applicants with GMR more than or equal of INR 5,000 Crore in FY 2020
• Group B: Applicants with GMR between INR 500 Crore and INR 5,000 Crore in FY 2020
• Group C: Applicants with GMR less than INR 500 Crore in FY 2020. This group will have a sub-group specifically for MSME
applicants.
The overall incentive offered under the PLI is INR 15,000 Crore, and the incentive allocation pattern is INR 11,000 Crore for Group A,
INR 2,250 Crore for Group B, and INR 1,750 Crore for Group C.
The Department of Pharmaceuticals have approved a total of 55 applicants for availing the incentive.
Group A: 11 Companies (9 Domestic & 2 MNC), Group B: 9 Domestic, Group C: 20 non-MSME & 15 MSMEPLI Scheme for Key Starting Materials (KSM)/ Drug Intermediates (DI) & Active Pharmaceutical Ingredients (API)Department of Pharmaceutical have identified 41 compounds (KSM / DI / API), manufacturing of which will be eligible for PLI. These
41 compounded are classified into four segments, and a total of 50 companies has been approved to avail the incentive.
INDIAN PHARMACEUTICAL INDUSTRY:
Annual revenue turnover in Indian pharmaceutical industry is estimated to be INR 3,637 Bn in FY 2022, with revenue turnoverincreasing by a compounded growth rate of 11% during the last five years (FY 2017-22). Led by covid therapy drugs & related
products (drugs like remdesivir as well as vitamin / mineral supplements) the sales of pharmaceutical drugs strengthened in FY
2021 and this trend has continued in the succeeding year too.
Strong domestic demand – in the wake of spread of the pandemic – has been a key highlight of the industry growth in the past
couple of years. Higher domestic consumption together with an increase in product prices has helped the industry in postingstrong growth in the last couple of years. Higher price of raw materials (API / KSMs / DIs) forced pharmaceutical companies to hikeproduct prices, after a favorable decision was given by the pricing regulatory body
KEY DEMAND DRIVERS:

The domestic demand for drugs & pharmaceuticals is driven by increasing number of old populations, higher spending on
healthcare, penetration of health insurance products, as well as rise in incidence of diseases. Exports also plays a large part inshaping the demand scenario in the industry, as India is the largest exporter of generic medicines in the world.
Domestic Demand Scenario: Key Factors
Aging Population: Demand for healthcare products & services is highest among people aged 60 and above. Hence the size of thispopulation segment has a significant impact on demand. According to population census conducted in 2011 there were 104 million
people falling in the said age bracket, making up to nearly 8.6% of total population. By 2026 this population segment is expected toreach nearly 173 million.
Improvement in Affordability: The per capita income level in India has gone up substantially, as the industrial growth createdhundreds of thousands of jobs. The disposable income level among Indians, particularly among urban population has improved
considerably. This has directly resulted in increasing the pool of people who can access healthcare products and services.
Penetration of Health Insurance Products: It is estimated that nearly 70% of healthcare cost in India is met through out of pocket
expenditure, creating a dent in the financial health of Indians. The health insurance penetration in India is estimated to beabysmally low at 20%. This high out of pocket expenditure is restricting a sizable segment of patients from accessing
pharmaceutical products.
The recent move by the Government of India to launch National Health Protection Mission is expected to increase the healthinsurance penetration. The target of the program is to provide a health cover of INR 5 lakh per family, to about 10.7 crore families
belonging to poor & vulnerable population segment. This would significantly improve the number of patients who can accesshealthcare products.
Higher Incidences of Lifestyle Diseases
As per a study by Confederation of Indian Industry (CII), approximately 5.8 million Indians die every year from heart disease, stroke,cancer, and diabetes. These medical conditions which are collectively labeled as a lifestyle disease, as their origin is often associatedwith changes in lifestyle to a consumption-oriented unhealthy lifestyle.
WHO puts the number of diabetes patients in India at 51 million, making it the diabetes capital of the world. The number ofpatients suffering from cardiovascular diseases is estimated at 25 million, accounting for 60% of total cardiovascular patients in theworld.
These lifestyle diseases, which was once confined to older people is increasingly affecting the younger population, those typically inthe age range of 25 to 44. In the national census conducted in 2011, the number of people in the age group 25 to 44 was estimatedat 348 million. If the population growth in this segment continues its historical trend, by 2021 there would be close to 423 million
people in the age group 25 to 44, translating into a larger base of patients with lifestyle diseases.
Drugs meant to treat these lifestyle diseases are some of the most expensive in the world. Consequently, the expenditure on drugs
in the country with a sizable number of patients with lifestyle disease would be one of the highest in the world.
India with its rising number of patients with lifestyle diseases presents an attractive market for pharmaceutical companies.
However, most drugs to treat lifestyle diseases are still under patent protection, making it out of bounds for Indian pharmaceuticalcompanies. Nevertheless, the patent protection period of few of these medicines is reaching its end stages, presenting
opportunities for generic drug manufacturers in India.
Export Demand:
India exported nearly INR 1,012 Bn worth of drugs & pharmaceutical products in FY 2019, making it one of the major
pharmaceutical exporters globally. Nearly 49 – 50% of this export goes into regulated markets including the US, UK and Japan. This
include exports of both on-patent and off-patent drugs. India’s ascension to the top of global pharmaceutical product exports
happened within a span of 10 to 12 years. Annual exports were only INR 90 Bn in FY 2005, but by FY 2019 it crossed INR 1,000 Bn. In
fact, most of the major Indian pharmaceutical companies derive nearly half of their annual revenue from exports.
The total value of pharmaceutical exports is estimated to be 4.5% of India’s total exports, which is an indication of the importanceof the pharmaceutical sector to India’s external trade. The penetration of Indian pharmaceutical industry in developed markets isevident by the fact that one in three generic pills consumed in the US and nearly 25% of medicines used in the UK are
manufactured by Indian pharmaceutical Companies.
Impact of Union Budget:
There is enhanced focus on Healthcare in the Union Budget FY21 and found place in the two of three prominent themes of thisyear’s budget i.e. “Aspirational India” and “Caring Society”. This indicate the government’s commitment to improve healthcare in
India. The proposals outlined in budget points towards a multi-pronged strategy to develop the healthcare sector. On one hand theBudget have initiated measures to increase the coverage of affordable healthcare infrastructure as well as access to affordable
medicines.
The measures introduced ranges from increasing coverage on the immunization program, higher budgetary allocation toGovernment’s flagship healthcare programs and initiatives to strengthen the healthcare delivery infrastructure (primarily in smaller
towns and villages). Additionally, the Jan Aushadhi program – ensuring quality medicines at affordable prices – is expected to get aboost this year, as the budget proposes to expand the coverage. As per the proposal outlined, the Government aims to set up Jan
Aushadhi Kendras across all the districts.
The cumulative impact of all these measures would be a general increase in the number of people accessing healthcare products
and services. This will directly impact the pharmaceutical sector, as the consumption of medicines goes up.
IMPACT OF COVID 19:
India is currently under lockdown as the country strives to contain the spread of covid 19 pandemic. The Government imposed
lockdown – to prevent the virus spread – have impacted the economy. The mandatory lockdown has led to stoppage of all
manufacturing (except production of essential goods and food products). Since pharmaceutical products is the most essential
commodity, the impact of lockdown is low when compared to other industries. However, most of plants have either closed or
operating at reduced capacities during the lockdown period to ensure community spread does not happen.

Although the lockdown is temporary, the impact of Covid 19 and its associated events is expected to be long term. All the major
global institutions have lowered the economic growth forecast for the next year, due to the fallout of covid 19. Industrial activity is
expected to revive at a slower pace, which would impact economic growth. The threat of a recessionary scenario looms large andeconomies world over are taking steps to prepare for slow growth period.
IMPACT OF COVID 19 2.0:
Unlike the first wave, the second wave of Covid-19 did not have significant impact on the domestic pharmaceutical industry.
Relatively inelastic demand for pharma products together with smooth flow of imports from China have ensured the operations in
the industry remain without any disruption. However, the growth pattern in revenue underwent a change. The restrictions during2020 had lowered the demand for elective medical procedure and acute medical condition as visit to hospitals were discouraged.
The decline in number of new infections have encouraged various state Governments to relax restrictions. As a result, there is anincrease in the number of patients for treatment for elective medical procedure and acute medical condition, which had beensuspended for the good part of 2020. The sales of formulations catering to this segment continues to recover, but is well below the
pre-pandemic levels.
EXPORT OF FORMULATIONS:
India is the leading exporter of generic formulations in the world, supplying low-cost pharmaceutical formulations to nearly 200
countries across the globe. These include highly regulated markets like US, EU and Japan as well semi-regulated markets acrossAsia, Africa, South America, Middle East and Africa. Generic drug formulation dominates the pharmaceutical exports from India,
while those of biologics, and biosimilars are picking up (but still remain low). The export of API / bulk drugs from India is low, as
domestic manufacturing volume well below demand.
The overall export of pharmaceutical products reached INR 1,409 Bn in FY 2021, increasing by a CAGR of 11% over the past five
years. US – the largest pharmaceutical market in the world – is the largest export market for Indian pharmaceutical industry. It
accounted for more than one third of the total pharmaceutical exports from India. Other notable export destinations include UK
and South Africa.
During the first seven months of FY 2022, the value of pharmaceutical products exported from India stood at INR 811 Bn . Exports
has witnessed strong growth in FY 2022, partly fueled by the pandemic which triggered some level of hoarding in few of the export
market. Additionally, the spread of pandemic disrupted domestic production in few of the export markets, forcing them to increase
their exports.
One of the notable developments that is emerging after the spread of Covid-19 is the increase in export of API / Bulk drugs from
India. This is attributed to the change in import strategy of US and few of the EU countries who are looking to broad base API / bulk
drug sourcing. At present China leads the export of bulk drug / APIs, some of the largest pharmaceutical markets are moving
towards a “China Plus One” policy to reduce the high dependence on imports. India has benefitted from this change in importpolicy, but the resultant increase in exports has been marginal. However, leveraged properly the China Plus One policy has thepotential to provide the much-needed impetus to the bulk drug / API manufacturing segment in India.
IMPORT DEPENDENCY FOR RAW MATERIALS:
Despite the advances in pharmaceutical manufacturing, India remains completely dependent on imports for its Active
Pharmaceutical Ingredient (API)/ Bulk Drug needs. According to Ministry of Chemicals and Fertilizers, India imports nearly USD 3.6
Bn worth of API/Bulk Drug for its pharmaceutical industry. Nearly two third of these imports comes from China. This indicates theoverwhelming dependency of Indian pharmaceutical industry on Chinese API imports. More than 100,000 tons of API required for
manufacturing antibiotics is imported to the country every year .
This dependency on China exposed the Indian pharmaceutical industry to risks earlier this year when API supply from China wasdisrupted due to Covid impact. Consequently, the price of common APIs used by the pharmaceutical industry went up several times
causing significant financial strain to the domestic pharmaceutical industry.
Since then the price level has come down, as supply disruption has been mitigated. Nevertheless, the covid pandemic has forced
the pharmaceutical industry and Government to take steps to prevent any recurrence of such a scenario. The major step has been
two key policies to improve the bulk drug / API manufacturing scenario in India, namely the Product Linked Incentive (PLI) scheme
for bulk drug manufacturing and bulk drug park scheme.
Execution of Production Linked Scheme:
PLI scheme for promotion of manufacturing of KSM / DI / API is widely expected to help Indian pharmaceutical industry to scale
down its raw material imports. As per Department of Pharmaceuticals, Indian pharmaceutical industry is heavily dependent on
import of 53 critical APIs, and the policy has been designed to specifically target the domestic production deficit of these crucial
input materials.
Towards this, the department has identified 41 KSM / DI / API which needs to be manufactured at large scale If India is to reduce its
import dependency. As a first step the department has identified 50 companies to manufacture these 41 compounds. Dependingon the compound and the method of synthesis, the incentive scheme would run till the end of this decade. Given the wide scope of
products eligible for PLI and the fairly long period of incentive support, the department of pharmaceutical is hoping to steadily
decline API imports and by the end of this decade to become self-sufficient in raw materials or to drastically reduce the importdependency.
COMPETITIVE SCENARIO:
Indian pharmaceutical industry is known as the generic drug manufacturing hub in the world. More than 10,000 generic drug
manufacturers operate in the country, manufacturing anything from over-the-counter products to prescription drugs. Despite thisfragmented nature of the industry, nearly half of the industry revenue is contributed by to 25 to 30 companies.
All the major pharmaceutical companies have considerable exposure to export market, particularly the US market. Presence of thelargest base of US FDA approved manufacturers (outside of the US) as well as approvals from regulatory agencies like MHRA-UK,
TGA-Australia, MCC-South Africa, among others.
The generic drug industry in India is dominated by home grown Companies like Sun Pharmaceuticals, Dr. Reddy’s Laboratories,
Lupin, Cadila Pharmaceuticals, Cipla, IPCA, Aurobindo, and Natco Pharmaceuticals, to name just a few.

However, the strength of Indian pharmaceutical companies in drug development is limited. The market for patented drugs forcritical illnesses is dominated by multinational innovator pharmaceutical companies. High capital investment involved in developing
an innovator compound has created a strong entry barrier in this sector. After the transition in patent regime, several large
pharmaceutical companies have started to focus on drug development, but they are yet to make considerable progress in this area.
All major global innovator pharmaceutical companies, including Gilead Sciences, Bayer, AstraZeneca, GlaxoSmithKline, Merck, andSanofi are present in India. These companies have established a dominant position in the lucrative lifestyle disease segment, wheremost of the drugs are under patent protection.
FINANCIAL ANALYSIS:
Disruptions in availability of input materials (bulk drugs and API) due to Covid-19 reinforced the Indian pharmaceutical industry’s
overwhelming dependence on China for its raw material requirements. The brief disruption in freight movement from China led toa spike in API prices. Pharmaceutical companies were unable to pass on this sudden spike in input cost, given the tightly regulated
drug pricing mechanism in the country. The need for domestic API production has never been more urgent.
Although the Government has initiated several bold policy measures, it would take few years before domestic manufacturing
capability can make a mark. As long as Indian pharmaceutical industry is dependent on imports, the raw material cost will continue
to be a major risk factor, something which the industry will not be able to control.
Indian pharmaceutical sector is labor intensive, leading to higher employee cost. The pharmaceutical industry in India isfragmented with more than 10,000 units with a large concentration of SME units, manufacturing generic formulations. The
production process in these SME units is mostly labor intensive, and the intensity of research work as well as technology adoption
is low. It is this large employee base that is adding to the higher employee cost.
The restrictions on traditional marketing & advertising channels imposed on pharmaceutical industry have forced Companies tomaintain a large direct sales force. It is this sales force that drives the marketing initiatives by increasing the awareness of theirproducts among healthcare professionals. Additionally, this marketing initiative must effectively compliment by a strong
distribution reach, to ensure last mile drug availability at pharmacies. The cost of executing such a marketing & distribution
exercise have resulted in higher SG&A (Selling, General & Administrative) expense in the industry.
Although new (innovative) drug development initiatives in Indian pharmaceutical industries is limited, the companies tend to incur
considerable Research & Development expenses. This high R&D expense could be attributed to the resources committed todeveloping the generic version of innovator drugs. However, the cost of R&D incurred by generic pharmaceutical players in India isa fraction of that incurred by innovative drug developing companies, mostly multinational players.
The year-on-year growth in consolidated revenue in the sample indicates that FY 2021 has been a good year for the pharmaceuticalindustry. The huge demand in generics from domestic and export market has helped the industry post strong growth rate. Thisstrong growth in revenue together with minimal increase in operating cost has helped the industry improve its profit margins.
After a brief spike in FY 2018, the debt equity ratio in the sample have dropped, with FY 2021 marking the third consecutive year of
decline. There has been no major capacity expansion or inorganic growth in the past couple of years and this has moderated thecapital requirement from the industry. On the other hand, the revenue growth in the industry continued to remain strong, whichalong with stable operating cost has ensured that profitability margins remain strong. As a result, the interest coverage ratio
continues to improve.

FINANCIAL INFORMATIONPARTIAL FINANCIALS
Particulars

Jun 30, 2022
3
Millions
Indian Rupee

Sep 30, 2022
3
Millions
Indian Rupee

Sales / Income

4,161

3,598

Net Profit(Loss) before Tax

3,086

1,653

Net Profit(Loss) after Tax

1,589

1,247

BALANCE SHEET
Particulars

Mar 31, 2020
Thousands
Indian Rupee

Mar 31, 2021
Thousands
Indian Rupee

Mar 31, 2022
Thousands
Indian Rupee

Equity Share Capital

12,02824,05521,890General Reserve

82,37582,375

107,6380

16,96916,930Retained Earnings

6,802,400

8,328,436

9,686,957

Other Reserves

24,508

7,500

9,665

Shareholders Fund

Revaluation ReserveTotal Shareholders Fund

6,921,311

8,459,335

9,843,080

399,311

250,778

335,190

Provident and Pensions (Long
Term)

8,351

13,404

13,994

Other Non Current Liabilities

0037,697

Total Non-Current Liabilities

407,662

264,182

386,881

Accounts Payable

424,482

516,738

637,331

Bank Loans

533,333

381,667

750,000

Interest Accrued

49,1610

0Provision for Retirement
Benefits

18,54918,66628,324

Duties and Taxes Payable

4,551

61,972

67,909Other Current Liabilities

4

1

0

Total Current Liabilities andProvisions

1,030,080

979,044

1,483,564

TOTAL LIABILITIES AND
EQUITY

8,359,053

9,702,561

11,713,525

Land and Buildings

649,477

730,055

927,739

Plant and Equipment

2,439,788

2,593,788

2,521,528

Transportation Vehicles

24,87024,572

21,999Furniture, Fixtures and Fitting

9,431

9,956

9,065

Office Equipment

14,31300Computers / Servers / Printersand other IT Equipment

9,910

11,744

8,886

Capital Work in Progress

43,706

107,576

124,090

3,191,495

3,477,691

3,613,307

22,015

16,203

10,392

0

22,136

160,577

22,01538,339170,9692

2

2

Investment in Unquoted
Shares

165,110205,110225,110

Total Investments

165,112205,112225,112

Other Assets

458,752

517,288344,589

Total Other Assets

458,752

517,288344,589

Balances with Bank

49,225271,537

174,885

Accounts Receivable

2,542,819

2,916,540

3,690,006

Inventory : Finished Goods

280,967

416,670

386,498

Inventory : Raw Material

255,223

310,710367,845

020,183

10,213

Non-Current Liabilities
Deferred Tax Liability

Current Liabilities

Fixed Assets

Total Fixed Assets
Intangibles
Software
Other Intangibles
Total Intangible Assets
Investments
Investment in Quoted Shares

Other Assets

Current Assets

Other Loans and Advances

Security Deposits (Current
Assets)13,9900

0Current Investments

1,261,167

1,411,278

2,531,070

Balance with Customs, Port
Trust And Excise Authorities

118,288

117,213

199,031

Total Current Assets

4,521,679

5,464,131

7,359,548

TOTAL ASSETS

8,359,053

9,702,561

11,713,525

Mar 31, 2020
Thousands
Indian Rupee

Mar 31, 2021
Thousands
Indian Rupee

Mar 31, 2022
Thousands
Indian Rupee

12

12

12

Revenue

6,118,565

6,369,967

7,125,788

Less: Direct Expenditure-4,311,747-4,258,338-4,613,047

Cost of Materials and Finished
Goods Consumed-3,703,959-3,553,519-3,957,047

Plant & Machinery Repairs &Maintenance-196,388-246,629-194,324

Salaries and Wages-411,400-458,190-461,676

Gross Profit

1,806,818

2,111,629

2,512,741

Less General and
Administration Expenses-198,600-218,912-230,430

Staff Welfare Expenses-51,913-55,503-63,762

Insurance-7,900-10,195-13,436

Communication Expenses-1,950-1,979

-1,467

Professional and Legal Fees

-8,147-8,470-7,791

Repairs and Maintenance0-28,271-13,600

Travelling and Conveyance
Expenses-8,729-8,567-3,276

Expenses towards Community
Development and Donations-14,636-19,701-36,447

Director's Remuneration andFees-31,266-36,421-48,486

Security Charges-7,080-9,814-10,102

Lease / Rent Charges-3,378-4,010-4,260

Other General Expenses-63,601-35,981-27,803

Less: Selling and Distribution
Expenses-62,238-70,056-83,108

Secondary Packaging-59,459

00Advertising & Marketing
Expenses-2,779-70,056-83,108

Less: Bank and Finance
Charges-4,018-2,450-2,273

Less: Other Expenses written
off-4,15600Less: Claims for Loss andDamages-28,102-87,445-86,566

Less: Depreciation /Amortization and Depletion-309,528-375,674-396,704

Operating Profit

1,200,176

1,357,092

1,713,660

PROFIT & LOSS
Particulars

Number of Months

Add: Other Non Operating
Income655,540

587,683

741,516

Dividend Income

15,967

11,224

11,507

Interest Income

69,61075,812

81,959Liabilities and Provisions
Written Back

6,998

0

0

Profit on Sale of Fixed Assets

42,397

5,552

1,925

Profit on Sale of Investments

31,296

20,50925,839Profit on Foreign Exchange
Transactions

154,066

313,215

173,940

Miscellaneous Income

335,206

161,371446,346

Earnings Before Interest andTax (EBIT)

1,855,716

1,944,775

2,455,176

Less: Interest Expenditure-39,325-21,049-17,347

Interest on Long Term Loans-39,325-21,049-17,347

Profit before Tax andExtraordinary Items

1,816,391

1,923,726

2,437,829

Net Profit before Taxation
and after Extraordinary
Items

1,816,391

1,923,726

2,437,829

Less: Total Tax Provision-623,400-351,467-684,412

Less: Current Year DeferredTax-623,400-351,467-684,412

Profit after Tax

1,192,991

1,572,259

1,753,417

Profit after Tax andExtraordinary Items

1,192,991

1,572,259

1,753,417

Less: Dividends and Transfer
to Reserves-365,264-46,223-394,896

Plus Retained Earnings b/f

5,974,673

6,802,400

8,328,436

Retained Earnings c/f

6,802,400

8,328,436

9,686,957

Mar 31, 2020
Thousands
Indian Rupee

Mar 31, 2021
Thousands
Indian Rupee

Mar 31, 2022
Thousands
Indian Rupee

12

12

12

Revenue

6,118,565

6,369,967

7,125,788

Profit after Tax

1,192,991

1,572,259

1,753,417

Net working capital

3,491,599

4,485,087

5,875,984

Tangible Networth

6,899,296

8,420,996

9,672,111

Total Debts

533,333

381,667

787,697

Capital Employed

7,432,629

8,802,663

10,459,808

-

4.11

11.87

AUDITORS QUALIFICATION
Accounts are audited by *** & Associates LLP
Accounts qualified by auditor and / or other observations in Audit Report: No

FINANCIAL TREND (RATIOS)Statement (End) Date

Number of Months
Financial Elements

Growth Ratios
Sales Growth (%)

Net Profit Growth (%)

-

31.79

11.52

Quick Ratio

3.87

4.84

4.45

Current Ratio

4.39

5.58

4.96

Total Debt Equity Ratio

0.08

0.05

0.08

Interest Coverage Ratio

47.19

92.39

141.53

Collection Period (Days)

152

167

189

A/Cs Payable (Days)

42

53

59

Inventory (Days)

32

42

39

Cash Conversion Cycle

142

156

169

Net profit margin (%)

19.50

24.68

24.61

Return on Networth (%)

17.29

18.67

18.13

Return on Capital Employed
(%)

24.97

22.09

23.47

Liquidity Ratios

Leverage Ratios

Efficiency Ratios

Profitability Ratios

FINANCIAL ANALYSIS GRAPHREVENUE AND PAT
7,000,000
6,000,000
5,000,000)tnuomA(

4,000,000
3,000,000
2,000,000
1,000,000
0FY 2020

FY 2021

FY 2022(Fiscal Years)

Revenue

Profit After Tax

Figures in Thousands of Indian Rupee
Topline of the Company has increased during the period under review. The Company reported Net Sales of INR 6,118,565
Thousand in FY 2020 which increased to INR 6,369,967 Thousand in FY 2021, and further to INR 7,125,788 Thousand in FY 2022.
Net Profit of the Company has increased during the period under review. It increased from 1,192,991 Thousand in FY 2020 to
1,572,259 Thousand in FY 2021, and further to 1,753,417 Thousand in FY 2022.

TANGIBLE NETWORTH & CAPITAL EMPLOYED

10,000,000
9,000,000
8,000,000
7,000,000)tnuomA(

6,000,000
5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
0Mar 31, 2020

Mar 31, 2021

Mar 31, 2022

(Fiscal Years)

Tangible Networth

Capital Employed

Figures in Thousands of Indian Rupee
Tangible Net worth of the Company has increased during the period under review. It increased from 6,899,296 Thousand as at theend of FY 2020 to 8,420,996 Thousand as at the end of FY 2021, and further to 9,672,111 Thousand as at the end of FY 2022.
Capital Employed of the Company has increased during the period under review. It increased from 7,432,629 Thousand as at theend of FY 2020 to 8,802,663 Thousand as at the end of FY 2021, and further to 10,459,808 Thousand as at the end of FY 2022.
PROFITABILITY RATIOSNET PROFIT MARGIN

24
22
20
18
16

)egatnecreP(

14
12
10
8
6
4
2
0

Mar 31, 2020

Mar 31, 2021

Mar 31, 2022

(Fiscal Years)

Net Profit Margin (%)

Net Profit Margin of the Company has fluctuated during the period under review. It increased from 19.50 % in FY 2020 to 24.68 % in
FY 2021, however it declined to 24.61 % in FY 2022.

RETURN ON TANGIBLE NETWORTH

18
16
14
12

)egatnecreP(

10
8
6
4
2
0

Mar 31, 2020

Mar 31, 2021

Mar 31, 2022

(Fiscal Years)

Return On Networth (%)

RETURN ON CAPITAL EMPLOYED

24
22
20
18
16

)egatnecreP(

14
12
10
8
6
4
2
0

Mar 31, 2020

Mar 31, 2021

Mar 31, 2022

(Fiscal Years)

Return On Capital Employed (%)

Return on Net worth (RoNW) has fluctuated during the period under review. It increased from 17.29 % in FY 2020 to 18.67 % in FY
2021, however it declined to 18.13 % in FY 2022.
Return on Capital Employed (RoCE) has fluctuated during the period under review. It declined from 24.97 % in FY 2020 to 22.09 % in
FY 2021, however it increased to 23.47 % in FY 2022.
LEVERAGE RATIOSTOTAL DEBT EQUITY RATIO

0.08
0.07
0.06
0.05

)semiT(

0.04
0.03
0.02
0.01
0.00

Mar 31, 2020

Mar 31, 2021

Mar 31, 2022

(Fiscal Years)

Total Debt Equity Ratio

Leverage position of the Company has remained comfortable as its Debt Equity Ratio has remained below 2 times as on 3 years ofBalance Sheet Reporting date.

INTEREST COVERAGE RATIO
140
120
100

)semiT(

80
60
40
20
0

Mar 31, 2020

Mar 31, 2021

Mar 31, 2022

(Fiscal Years)

Interest Coverage

Interest Coverage Ratio of the Company has increased during the period under review. It increased from 47.19 times in FY 2020 to92.39 times in FY 2021, and further to 141.53 times in FY 2022.
LIQUIDITY RATIOSCURRENT RATIO

5.5
5.0
4.5
4.0
3.5

)semiT(

3.0
2.5
2.0
1.5
1.0
0.5
0.0

Mar 31, 2020

Mar 31, 2021

Mar 31, 2022

(Fiscal Years)

Current Ratio

QUICK RATIO

4.5
4.0
3.5
3.0

)semiT(

2.5
2.0
1.5
1.0
0.5
0.0

Mar 31, 2020

Mar 31, 2021

Mar 31, 2022

(Fiscal Years)

Quick Ratio

Short term solvency position of the Company has remained comfortable as its Quick Ratio and Current Ratio have remained above
unity as on 3 years of Balance Sheet Reporting date.

BANKS



Information in this report may not represent the full extent of subject's bank relationships.
Bank Name:

State Bank of India

Location:

No. ***, ABC Towers, Mount Road **, Chennai, Tamil Nadu, 6***2, India

Bank Name:

HDFC Bank Ltd

Location:

Mumbai, Maharashtra, 4****1, India

No independent confirmations were obtainable from banker/(s).

REGISTERED CHARGE DETAILSA search was conducted and the following charges were found.
Charge Date

Charge Number

Amount Secured

Currency

Chargee Name

Nov 15, 2012

1234****

142,700,000

Indian Rupee

State Bank of India

Jun 18, 2012

1234****

3,000,000

Indian Rupee

ABC FINANCIALSERVICES LIMITEDJul 22, 2005

8765****

21,890,000

Indian Rupee

Allahabad Bank

The records items above under 'Registered Charges' may have been paid, vacated, settled or released prior to the date this report was
printed.

HISTORYBACKGROUNDThis Public Limited Liability Company started on Apr 16, 1990, having registration no.L24***TN1990PLCXXXX53, and has its registeredoffice at 2nd Floor, Towers No. **, Industrial Estate ***, Chennai, Tamil Nadu, 6***66 India
The last AGM date was Sep 30, 2022. The last Financial Statement Date being Mar 31, 2022.
The subject shares are publicly listed on the below stock
exchange/s:
Bombay Stock Exchange

CHANGESName Changes:
Original business name registered as: Xyz **** Private Limited
On Feb 12, 2007, the subject registered a change in name to Abc **** Limited
On Jul 19, 2007, the subject registered a change in name to Pqr **** Limited
On Jul 24, 2007, the subject registered a change in name to Pqr **** Private Limited
On Feb 21, 2012, the subject registered a change in name to Def **** Private Limited
On Aug 16, 2016, the subject registered a change in name to Present name
Legal Status changes:
Date of Change:

Apr 16, 1990

Nature of Change:

Succession of operations of the partnership as named below

Former Legal Structure:

Partnership

Name of Previous Change:

SAMPLE *****Started:Apr 01, 1985

CAPITAL
Paid-up Capital

100,691,410.00 INR as on date Jul 29, 2022

Capital Distribution:
The following details represent the Full Shareholders List
Ordinary Shares:
SHAREHOLDERS% Capital

A B C*****

23.60

C M P*****

18.70

A C N*****

11.94

P Q R****

11.88

A*** India **** Private Limited

2.79

Foreign Portfolio Investors

2.11

Mutual Funds

1.16

Alternate Investment Funds

0.05

Financial Institutions/ Banks

0.00

Individual share capital upto Rs. 2 Lacs

14.24

Individual share capital in excess of Rs. 2 Lacs

6.55

Bodies Corporate

1.84

Clearing Members

0.06

IEPF

2.45

LLP

0.82

HUF

0.22

Overseas Corporate Bodies

0.30

Trusts0.00

Other Non-Institutions

1.29

The Company has a total of 48 shareholders.

Shareholding as at Sep 30, 2022
Shareholding details provided by: search at local registry office

LEGAL REPRESENTATIVES
Auditors*** & Associates LLP
Chennai, Tamil Nadu, India

CORPORATE STRUCTURE



SUBSIDIARIES
Name:Sample Delhi **** Limited

Address:

Towers No. **, Developed ****, Industrial Estate, Chennai, Tamil Nadu, 6***66, India

No.of Shares owned:

99.99 %

Name:

Sample Mumbai Limited

Address:JKL No. *, Street ***, Mumbai, Maharashtra, 4***90, India

No.of Shares owned:

99.9 %

Name:

Sample Colom*** SAS

Address:

CR 1* No. 9*-7* Oficine 4**, Colombia

No.of Shares owned:

85.83 %

Name:

Sample Far **** Limited

Address:

Room ***, 6th Floor, Hong ***, *** Road West, Hong Kong

No.of Shares owned:

100.0 %

Name:

Sample *** Pte Ltd.

Address:

75**A, Be*** Road, # 1*-3**, The Plaza, 19**91, Singapore

No.of Shares owned:

100.0 %

Name:

Sample Steriles ***** Limited

Address:

ABCD Towers, No. ** Developed ****, Industrial Estate, Chennai, Tamil Nadu, 6***66, India

No.of Shares owned:

99.99 %Name:

One Ph*** LLP

Address:

Narbh** No. *, Lakshm*** Street, T*** Nagar, Chennai, Tamil Nadu, India

No.of Shares owned:

99.9 %Name:

Pharma ****** Laboratories Colo** SAS

Address:

CR ** No. 9*-7* Oficine 4*8, Colombia

No.of Shares owned:

85.83 %Name:

Pharma *** *** East Limited

Address:

Room ***, 6th Floor, Hong **** Plaza, *** Conna*** Road West, Hong Kong

No.of Shares owned:

100.0 %Name:

Pharma *** Point (S) Pte Ltd.

Address:

75**A, Beach Road, # 1*-3***, The Plaza, 19**91, Singapore

No.of Shares owned:

100.0 %

AFFILIATESThe Affiliate is a Joint Venture:

Yes

Name:

One ***** Pte Ltd

Address:**** City, China (People's Republic)

Subject holds shares in Affiliate:

39 %BRANCHESThe Principle branch location(s) are as follows:
Address:

8*/3, Suth** Village, Manna*** Comm** Panchayat, Puduchery, Tamil Nadu, 6***02, India

Location Type:

Plant/Factory

Type of Ownership:

Owned

Size in sq meter:

174240.0

Address:

No. 1*, Chinn*** Village, Sirupuz***** (Post), Gummidi***** Taluk, Tamil Nadu, 60**01,
India

Location Type:

Plant/Factory Warehouse

Type of Ownership:

Owned

Size in sq meter:

23084.0

Address:

Survey No.*** & ***, Guruva***** Village, Sirup***** (Post), Gummi**** Taluk,Thiruvallur, Tamil Nadu, 60**01, India

Location Type:

Plant/Factory

Address:*4B, ** Floor, Exotica New No. 5* Old No. 2*, Venkata*** Road, T*** Nagar, Chennai, Tamil
Nadu, 60**17, India

Location Type:Sales office

DIVISION
The Principle division location(s) are as follows:
Division Name:*** Drugs Division

Address:

MIDC, Rasa***, Navi Mumbai, Maharashtra, 40**20, India

OPERATIONSLINE OF BUSINESSLOB Description:

Engaged in manufacturing pharmaceuticals, medicinal chemicals, and botanical products. It
also undertakes contract manufacturing services.

Manufactures pharmaceutical preparations
2834-0000
Manufactures drugs acting on the central nervous system & sense organs
2834-0200
Manufactures tablets, pharmaceutical
2834-9910
Manufactures powders, pharmaceutical
2834-9907
Manufactures medicines, capsuled or ampuled2834-9905
Manufactures druggists' preparations (pharmaceuticals)
2834-9902
Manufactures ointments
2834-0604

EMPLOYEES
Current:
Total Employees:

613 Estimated

PRINCIPALSPRINCIPALSName:

C M P***

identity number :012XXX00Name:

M N O****

identity number :087XXX55

Name:V W X***

identity number :071XXX89Name:

W X Y***

identity number :030XXX78Name:

K D M***

identity number :068XXX20EXECUTIVESName:

C M P***

Current Title:

Chairman and Managing Director

Related Experience Since:

NA

Founder of the subject:

No

Active in daily operations:Yes

identity number :012XXX00Name:

M N O****

Current Title:

Director

Related Experience Since:

NA

Founder of the subject:

No

Active in daily operations:Yes

identity number :087XXX55Name:

V W X***

Current Title:

Director

Related Experience Since:

NA

Founder of the subject:

No

Active in daily operations:Yes

identity number :071XXX89Name:

W X Y***

Current Title:

Director

Related Experience Since:

NA

Founder of the subject:

No

Active in daily operations:Yes

identity number :030XXX78Name:

K D M***

Current Title:

Company Secretary

Related Experience Since:

NA

Founder of the subject:

No

Active in daily operations:Yesidentity number :068XXX20

STATUTORY REGISTRATION

Registration Type

Registration Number

Place

Permanent Account Number

AABCD1234X

Goods and Services Tax (GST)

33AABCD1234X2ZY

Chennai

Importer exporter code

456XXXX23

Chennai

COMPLIANCE ASSESSMENTRBI DEFAULTER LIST

 Match Not Found.

SourceCIBIL

Date of Search

Mar 29, 2023

Keyword Used

Match Not foundInformation FoundSAMPLE INDIA ONE LIMITEDNo Match FoundAs observed from the RBI Defaulters listthat is publicly available, the subject is notenlisted as a defaulter.

EPF DELAY LIST

 Match Not Found.

SourceEPFO

Date of Search

Mar 29, 2023

Keyword Used

Match Not Found

Information FoundSAMPLE INDIA ONE LIMITEDNo Match FoundAs observed from the EPFO website thatis publicly available, the company is notpart of the defaulter list.

NCLT

 Match Not Found.

SourceNCLT

Date of Search

Mar 29, 2023

Match Found/ Match Not Found

Match Not Found

Keyword Used (Entity)

Match Not Found

Information found

SAMPLE INDIA ONE LIMITEDNo Match FoundAs observed from the data available fromthe NCLT list that is publicly available, thesubject is not enlisted as a defaulter.

NEWS & ALERTS

Report Date:

Aug 01, 2022

Source:NCLT Cause List

Reported Data:

Application filed For hearing before admission under section 9 of IBC by Applicant Sun
Ind***** on Sample India One Limited vide CA/CP # CP IB No.5*/*/AMR/20** in Amar***i
Bench under Court - I ,daily cause list dated **-**-20**

Report Date:

Mar 31, 2022

Source:Auditors Observation

Reported Data:

As on 31st March 2022, the company has outstanding dues in respect of *** Excise Duty
Rs. 25,*** /-(000) which are not deposited as they are pending under dispute.

APPENDICESD&B RATING GLOSSARY
The D&B Rating - The D&B rating consists of two parts, the Financial Strength Indicator and the Risk Indicator.
For example: in the case of a 2A 4 rating, 2A means the financial strength of the business and the 4 is the risk indicator.
The Risk Indicator is used in conjunction with the Financial Strength Indicator. The Risk Indicator reflects D&B's opinion of the risk
associated with trading with a specific business, notably the likelihood of business continuance or failure over the next 12 months.
Created from expert rules system, the Risk Indicator is refreshed whenever data is loaded onto our database. Please see the tablebelow for the Risk Indicators and their corresponding values.
ER RatingRating# of Employees

ER 1

1000 +

ER 2

500-999

ER 3

100-499

ER 4

50-99

ER 5

20-49

ER 6

10-19

ER 7

5-9

ER 8

1-4

ER N

Not Available

Financial Strength Indicator
Rating table - India
Figures in Indian Rupee
NetWorth Range
5A

4800000000

and

Above

4A

2000000000

to4799999999

3A

960000000

to1999999999

2A

200000000

to959999999

1A

96000000to199999999

A

48000000

to95999999

B

28000000

to47999999

C

14000000

to27999999

D

9600000

to13999999

E

4800000

to

9599999

F

2800000

to

4799999G

1200000

to

2799999H0

to1199999

Risk Indicator

Condition

Credit Risk

Interpretation

1

StrongMinimumRisk

Proceed with transaction offer extended terms if
required2

Good

LowRisk

Proceed with transaction

3

Fair

Slightly greater than average
risk

Proceed with transaction but
monitor closely

4

LimitedSignificant level of risk

Review each case before
extending credit and obtain
more information. Takesuitable assurances before
extending credit, guarantees
may be needed-

Undetermined

Insufficient information toassign a Rating

Assigned to concerns where
there is insufficient
information to express any
opinion on the condition,
financial soundness or
payment history of theconcern. A concern with notelephone number will also be
assigned a "-" condition

Alternate Ratings UsedNQ

Out of Business: Business has ceased to trade

NB

New Business (less than 24 months old)N

Negative Tangible Net WorthFB

Subject is the branch of a company located in another country

BR

Subject is a branch location-

A situation exists which is not ratable

DS

This is a Dun Support record with limited information.

O

Tangible Net Worth undetermined (accounts unavailable orolder than 18 months)

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