Cadila Healthcare Ltd
By 28 February 2000 | 28 Feb 2000
- Commercial paper programme - Rs. 35 crore
Rating : P1 to P1+ (upgraded)
The rating assigned to the Rs. 350 million commercial paper programme of Cadila Healthcare Limited (CHL) has been upgraded from ‘P1’ (pronounced P one) to ‘P1+’ (pronounced P one plus).
The revised rating reflects the significant
improvement in financial position (particularly the capital
structure) on account of fresh equity infusion post the
company’s IPO. The rating continues to factor in
the above average market position of CHL in the domestic
pharmaceutical formulations business with presence of
strong brands in certain therapeutic areas, wide therapeutic
coverage and operational strengths. These strengths are
partially offset by relatively high dependence on the
domestic market.
CHL registered a net profit of Rs 334 million on a sales/income from operations of Rs 3.59 billion in the first nine months of 1999-2000.