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.
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