MIRA
INFORM REPORT
|
Report Date : |
10TH
June, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
OMKAR
SPECIALITY CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
W92 -
(A), M.I.D.C Mankivili, Badlapur (East), District-Thane, Maharashtra, Pin
Code : 421503, India |
|
|
|
|
Country : |
India |
|
|
|
|
Date of Incorporation : |
24.02.2005 |
|
|
|
|
Com. Reg. No.: |
11-151589 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24110MH2005PTC151589 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUM003622D |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing,
Processing, Formulating, Producing, Refining, Fermenting, Converting,
Distilling, Purifying, Blending, Buying, Importing, Stocking, Supplying,
Selling, Distributing, Trading, Exporting and dealing in all kinds and
varieties of Chemicals of Various Specifications, Purities, Nature including
Speciality Chemical, Organic and Inorganic Chemical and Compounds thereof,
Bio Chemical, Petro Chemical, Insecticides, Cleaning Chemical, Chemical
Compounds, Laboratory Chemicals, Scientific Chemicals, Agriculture Chemical,
Heavy Chemical, Pharmaceutical Chemical, Fine Chemical, Photographic
Chemical, Water Chemical and all or any of the by – products resulted
therefrom, Whether used presently or to be invented in future for Industrial,
Medical, Pharmaceutical, Agriculture, Domestic, Household, Waste
Treatment |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
Maximum Credit Limit : |
|
|
|
|
|
Status : |
New
Company |
|
|
|
|
Payment Behaviour : |
Unknown
|
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a new company and has yet to established track records. Directors have
several years to experience and their trade relations are fair. No payment
records are available. The
company can be considered for any business dealings on safe and secured trade
terms and conditions, initially. |
LOCATIONS
|
Registered Office/Factory : |
W92 -
(A), M.I.D.C Mankivili, Badlapur (East), District-Thane, Maharashtra, Pin
Code : 421503, India |
|
Tel. No.: |
91-251-2690651/2691602/2697319 |
|
Fax No.: |
91-251-2691572 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Mr.
Pravin Shivdas Herlekar |
|
Designation : |
Director
|
|
Address : |
“Sitaram”,
Genesh Chowle, Manjali, Badlapur (West), District – Thane – 421503 |
|
|
|
|
Name : |
Mr.
Shivdas Ramrao Herlekar |
|
Designation : |
Director
|
|
Address : |
“Sitaram”,
Genesh Chowle, Manjali, Badlapur (West), District – Thane – 421503 |
|
|
|
|
Name : |
Mrs.
Anjali Pravin Herlekar |
|
Designation : |
Director
|
|
Address : |
“Sitaram”,
Genesh Chowle, Manjali, Badlapur (West), District – Thane – 421503 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Pravin Shivdas Herlekar |
900 |
|
Mr.
Shivdas Ramrao Herlekar |
50 |
|
Mrs.
Anjali Pravin Herlekar |
50 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing,
Processing, Formulating, Producing, Refining, Fermenting, Converting,
Distilling, Purifying, Blending, Buying, Importing, Stocking, Supplying,
Selling, Distributing, Trading, Exporting and dealing in all kinds and
varieties of Chemicals of Various Specifications, Purities, Nature including
Speciality Chemical, Organic and Inorganic Chemical and Compounds thereof,
Bio Chemical, Petro Chemical, Insecticides, Cleaning Chemical, Chemical
Compounds, Laboratory Chemicals, Scientific Chemicals, Agriculture Chemical,
Heavy Chemical, Pharmaceutical Chemical, Fine Chemical, Photographic
Chemical, Water Chemical and all or any of the by – products resulted
therefrom, Whether used presently or to be invented in future for Industrial,
Medical, Pharmaceutical, Agriculture, Domestic, Household, Waste
Treatment |
|
|
|
|
Products : |
Chemical
|
GENERAL
INFORMATION
|
Bankers : |
Not
Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking Relations : |
Unknown
|
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
50,000 |
Equity
Shares |
Rs. 100/- Each |
Rs. 5.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
1000 |
Equity
Shares |
Rs. 100/- Each |
Rs. 0.100 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
No
financials are available since incorporation of the company
LOCAL AGENCY
FURTHER INFORMATION
As
per website Details:
Products
M.S.D.S for indivudial product avalable on request.
|
IODINE
DERIVATIVES
|
SELENIUM DERIVATIVES
Selenium Tetrabromide |
|
HYPERVALENT IODINE |
|
|
MOLYBDENUM & VANADIUM ·
Molybdic
Acid. ·
Molybdenum
Disulfide |
ORGANIC SPECIALITIES ·
Bromoacetic Acid ·
4-Quinolinecarboxyaldehyde ·
2-Quinolinecarboxyaldehyde ·
4,4' Ditertbutyl Biphenyl ·
3,4 Dihydroxy-5-nitro-Benzaldehyde ·
Pyridinium Dichromate ·
4-Chloro Thiobenzamide ·
t-Butyl Hypochlorite ·
DL-Camphoroquinone ·
Chromyl Chloride |
Profile
Omkar Speciality Chemicals Pvt. Ltd. was
founded in 1980 by Mr. P.S Herlekar, himself a B-Tech chemical engineer from
IIT Bombay, with an objective to develop speciality reagents required for
pharmaceutical industries.
Initially the company started with
development of inorganic oxidants such as Molybdenum trioxide, Selenium dioxide,
Sodium metaperiodate, Led tetra acetate etc.
Their company's association with other
leading bulk drugs, pharmaceuticals & cosmetic manufacturers enabled us to
Borden the business continuously improving the product range, with a dedication
to both service & growth, they have developed a dynamic technical team
which has enabled us to offer a direct line of organic-inorganic intermediates
demanded by their customers.
As far as man power is concerned, they lay
a great degree to emphasis on the quality of every member in their organization
who are greatly qualified, widely experienced & dedicated technocrats, who
constantly try to enhance the quality of their existing products & develop
new products to meet the growing demands in the market.
Quality of the products is of paramount importance to us. They acknowledge
their responsibility to their customers to provide a quality assured service
which is the basis of their continuous growth.
All their products are made to the highest
standards & are thoroughly checked for compliance for specifications.
The in house testing facility include,
titrometric, potentiometric, iodometric, redox estimation process, they also
have other common instruments for tests, such as melting point, KF moisture, UV
, TLC, spectroscopy etc. they also have ancillary facility for chromatography
& HPCL.
Research & development : Over the years,
" Omkar Chemicals ", has widened its horizon & extended its
capabilities to manufacture new generation chemicals & have developed many
proprietary products. Research & Development group which is the nerve
center of their organization has enabled to acquire a name in the chemical
& allied industries. They also undertake custom manufacturing & job
work for consumer requirements if any in their area of work. their
specialization in the field of iodine chemistry has enabled us to widen their
business world over.
Product Range. : Their product
range include a wide range of specialty chemicals to meet the demands of
Pharmaceutical, Chemical, Glass, Ceramic, Metal finishing Dyes, Electronic
& Agrochemical industries. Their products also cater to lubricants
additives, PVC additives, & specialty alloys. They are also competent to
supply specific Tailor made products.
Environmental aspects : Their factory is
located in a notified industrial chemical zone in maharashtra industrial
development corporation. They give utmost importance to complying with the
requirements of maintaining the pollution level of the effluents. They have in
house facilities for primary& secondary treatment after which the effluents
are further treated in common effluent treatment plant located in their
industrial area.
Future vision : Their success
reflects the depth of their partnership with their costumers in providing
products of quality &value. Their costumers are constantly in touch with us
for development of new molecules to cater to their new products to be launched
in the future, their attention to changes in requirements of both present &
potential costumers will support a border relationship leading to innovative
ideas, techniques & products for time to come
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.45.88 |
|
UK
Pound |
1 |
Rs.84.61 |
|
Euro |
1 |
Rs.58.01 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
- |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
16 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |