February 26, 2011
Mumbai
CRISIL: PARABOLIC DRUGS LIMITED’s bank loan ratings suspended
Rs.247.0 Million Cash Credit Limit/Working Capital Demand Loan D (Suspended)
Rs.424.1 Million Term Loan D (Suspended)
Rs.535.0 Million Export Packing Credit D (Suspended)
Rs.32.7 Million Proposed Long-Term Loan D (Suspended)
Rs.488.0 Million Bill Discounting P5 (Suspended)
Rs.810.0 Million Letter of Credit P5 (Suspended)
Rs.20.0 Million Bank Guarantee P5 (Suspended)
Rs.5.0 Million Short-Term Loan P5 (Suspended)

CRISIL has suspended its rating on the bank facilities of Parabolic Drugs Limited (PDL). This is because PDL has not been providing information on its operations and financials to CRISIL. The suspension of the rating reflects CRISIL’s inability to maintain a valid rating in the absence of information from PDL.

About the Company
PDL was promoted by Mr. Pranav Gupta and his brother Mr. Vineet Gupta in February 1996. It commenced production in February 1998. It is an active pharmaceutical ingredient (API) manufacturer of antibiotic drugs in both oral and sterile form. The company has manufacturing facilities at Derabassi (Mohali, Punjab) and Panchkula (Haryana). Its clients include formulation players such as Ranbaxy Laboratories Ltd and Cipla Ltd. It also exports to unregulated markets of Africa and the Middle East.

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Tanuja Abhinandan
Market Development & Communications
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Gurpreet S Chhatwal
Director - CRISIL Ratings
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Email: gchhatwal@crisil.com

Arvind L Rao
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Email: CRISILratingdesk@crisil.com

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February 26, 2011

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