MIRA INFORM REPORT
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Report
Date : |
28th
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
APEX
DISTRIBUTORS |
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Registered
Office : |
20/24 Dhirubhai Parikh Marg, Princess
Street, (Old Hanuman Lane), Kalbadevi, Mumbai – 400 002, Maharashtra, India |
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Country
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India |
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Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
1970 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
MUMA04319A |
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Legal
Form : |
A Partnership Concern with an Unlimited Liability of the
Partners. |
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Line
of Business : |
Trader and Importer of Pharmaceutical Raw materials and
Bulk Drugs |
RATING & COMMENTS
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MIRA’s
Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum
Credit Limit : |
USD 10000 |
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Status
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Satisfactory |
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Payment
Behaviour : |
Usually
Correct |
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Litigation
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Clear |
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Comments
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Subject
is a well established traders and importers. Partners are reported as
experienced, respectable and resourceful businessmen. Their trade relations
are reported as fair. General financial position is satisfactory. Payments
are usually correct and as per commitment. The company can be considered normal for business dealings
at usual trade terms and conditions |
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LOCATIONS
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Registered
Office : |
20/24 Dhirubhai Parikh Marg, Princess
Street, (Old Hanuman Lane), Kalbadevi, Mumbai – 400 002, Maharashtra, India |
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Tel.
No.: |
91-22-56359388/22431788 |
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Fax
No.: |
91-22-22405481 |
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E-Mail
: |
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Area : |
400 sq.ft (Owned) |
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Locations : |
Commercial area |
PARTNERS
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Name : |
Mr. Narendra S. Shah |
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Designation
: |
Partner |
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Address
: |
607,
Jamana Apt, 68, S.V.Road, Andheri (w), Mumbai – 58 |
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Date
of Birth/Age : |
62Years |
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Qualification
: |
S.S.C |
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Experience
: |
44 Years |
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Name : |
Mr.
Devang R. Doshi |
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Designation
: |
Partner |
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Address
: |
204,
Bhuleshwar Darshan, A.M.Road, MumbaI – 02 |
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Date
of Birth/Age : |
35 years |
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Qualification
: |
S.Y.J.C. |
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Experience
: |
4 years |
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Name : |
Mrs. K.B.
Patel |
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Designation
: |
Partner |
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Address
: |
‘‘Romil”
Sector-4, Charkop, Kandivali (w), Mumbai
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Date
of Birth/Age : |
67 Years |
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Experience
: |
34 years |
BUSINESS DETAILS
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Line
of Business : |
Trader and Importer of Pharmaceutical Raw materials and
Bulk Drugs |
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Products
: |
·
Amoxapie
USP ·
Sylimarine ·
Disulfiram ·
Ethyl
Cellulose N7 USP 24 China ·
Pimozide
BP ·
Lopamide ·
Di-Valproex
Sodium ·
Valporic
Acid ·
Doxylamine
Succinate ·
Lorazepam
IP ·
Nitrazepam
IP ·
Trazadone ·
Flunnarizine ·
Propranolol
HCL IP |
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Distributorship
: |
·
RPG
Life Sciences Limited ·
Vasudha
Pharma Chemicals Limited ·
Cadila
Pharmaceuticals Limited ·
R.L.Fine
Chemicals Private Limited ·
Harika
Drug Private Limited ·
Arex
Laboratories Private Limited ·
Jagsonpal
Pharmaceuticals Limited ·
Roaq
Chemical Private Limited |
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Imports
from : |
China, Spain, Czech, USA and Europe |
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Terms
: |
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Selling : |
Credit (60 days) |
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Purchasing : |
Credit (60 days), 90 to 120 days and L/C at Sight terms. |
GENERAL INFORMATION
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Customers
: |
Manufacturers of Pharmaceuticals. |
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No. of
Employees : |
Office Staff 5 |
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Bankers
: |
v
Bank
of Baroda, Zaveri Bazar Branch, Mumbai – 400
002, Maharashtra, India |
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Facilities : |
The concern enjoys cash credit facility of Rs. 4.5
millions from its banker. |
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Banking Relations : |
Satisfactory |
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Membership
: |
The Chemist & Druggists Association, Mumbai |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
3.000 Millions |
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Total : |
3.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales
Turnover |
73.000 |
65.000 |
57.000 |
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Net
Profit |
NA |
NA |
NA |
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Import
Value |
40.000 |
30.000 |
20.000 |
LOCAL AGENCY FURTHER INFORMATION
NIL
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
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.46.36 |
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UK Pound |
1 |
Rs.84.49 |
|
Euro |
1 |
Rs.58.38 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP
CAPITAL |
1~10 |
5 |
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OPERATING
SCALE |
1~10 |
5 |
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FINANCIAL
CONDITION |
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--BUSINESS
SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT
LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT
POINTS |
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--BANK
CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT
POINTS |
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--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT
ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER
MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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 |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |