Bilcare Limited, Pune based pharmaceutical company is offering fixed deposit scheme for a time frame of one, two and three years. Below are the details:
- The deposit will be accepted in multiples of Rs 1000/- subject to a minimum of Rs. 20,000/-.
- For Scheme ‘A’, interest will be paid quarterly, on 31st March, 30th June, 30th September, 31st December & on maturity.
- For Scheme ‘B’, interest will be compounded at quarterly basis & paid on maturity.
- Interest Warrants will be payable at par major centers all over India. Post dated interest Warrants will be issued in advance for each financial year.
- Facility to receive interest by ECS (Electronic Clearing System) also available.
- Option to Renew deposit at principle amount or adding additional amount in it in multiples of Rs 1,000/-
- In case of Senior Citizens / Shareholders (Minimum 10 Shares) / Employees an additional 0.25% p.a. interest will be paid.
- Premature withdrawal possible after completion of 6 months with fine of 2% on original interest rate.
Fixed Deposit Schemes:
|Scheme A – Non-Cumulative|
|Period||Rate Of Interest|
|Scheme B – Cumulative|
|Period||Rate Of Interest||Annual Yield||Maturity Value|
- Founded in 1993 by Mohan Bhandari, Bilcare Ltd. is listed on Bombay Stock Exchange (BSE)
- Three defined business areas – Pharma Packaging & Research, Global Clinical Supplies and Bilcare Technologies for brand authentication and security
- A global workforce of 1000+ employees spread across India, Singapore, Germany, Italy, the US and the UK.
- Operations spread across 4 continents with more than 500 pharma customers globally
- Manufacturing plants and R&D centres located in Pune, Singapore, US and UK
The interest rate of 12% is higher by 200-250 basis points than that offered by most banks. The company is profit making and dividend paying. It posted a net profit of Rs 74.75 crore for the year ended March 2012.
Why not to invest
Company fixed deposits are unsecured and illiquid. Interest income from company fixed deposits is taxable and for those in the highest tax bracket the post tax return works out to a mere 8.29%. As of June 2012, 95.3% of the promoter shareholding is pledged.