MIRA INFORM REPORT
|
Report Date : |
01.11.2006 |
IDENTIFICATION DETAILS
|
Name : |
CHOKHANI
PHARMA VET |
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Registered Office : |
6 W Merchant Chambers, 41
New Marine Lines, 6th Floor, Opposite- Paikar Hall, Mumbai – 400 020, Maharashtra, India |
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Country : |
India |
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Financials (as on) : |
31.03.2003 |
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Date of Incorporation : |
1997 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Trader and Importer Vitamin
Premixes for Animal Feed Concentrate. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba
|
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 275000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established concern having satisfactory track. Trade relations are
fair. General financial position is satisfactory. Payments are usually
correct and as per commitments. The concern can be considered good for normal
business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
6 W Merchant Chambers, 41
New Marine Lines, 6th Floor, Opposite- Paikar Hall, Mumbai – 400 020, Maharashtra, India |
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Tel. No.: |
91-22-22074506/7/8 |
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Fax No.: |
91-22-22074510 |
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E-Mail : |
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Website : |
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Area : |
200
sq. ft. |
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Location : |
Owned
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SOLE PROPRIETOR
|
Name |
Mr. Anil R. Chokhani |
|
Designation |
Proprietor |
|
Address |
16/3, Nadirsha Sukhia
Street, Banu Mansion, Fort, Mumbai – 400 001, Maharashtra, India. |
|
Age |
25.03.1964 |
|
Qualification |
B.Com. |
KEY EXECUTIVES
|
Name : |
Ms. Gunjan R. Punjabi |
|
Designation : |
Chief Executive |
|
Address : |
16/3, Nadirsha Sukhia Street,
Banu Mansion, Fort, Mumbai – 400 001, Maharashtra, India. |
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Date of Birth/Age : |
03.10.1976 |
|
Qualification : |
B.Com. |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer Vitamin
Premixes for Animal Feed Concentrate. |
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Products : |
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Imports from : |
Switzerland,
Germany, France, China, Thailand and Singapore |
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Terms : |
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Purchasing : |
D/A
and 120 days from B/L date terms. |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
15 |
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Bankers : |
Ø
City Union Bank
Limited 402, Jains Arcade, 1st
Floor, 14th Road, Junction Khar (West), Mumbai – 400 052 |
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Facilities : |
D/A
and L/C Rs.30 millions, Cash Credit Rs.10 millions, etc. |
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Banking Relations : |
Satisfactory
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Auditors : |
Not
Available |
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Sister Concerns : |
Chokhani
Associates, Bhanu Mansion, 3rd Floor, No. 16, Bhama Mansion. 3rd
Floor, No. 16, Nadirsha Sukhia Street, Fort, Mumbai – 40001 Line
of Business - Importers of Pharmaceutical
and Bulk Drugs. Ø
Midland Animal
Nutrition Private Limited 6 W
Merchant Chambers, 41 New Marine Lines, 6th Floor, Opp. Paikar
Hall, Mumbai – 400 020, Maharashtra, India -- Line of Business - Trading |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2003 |
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SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
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|
68.759 |
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2] Reserves & Surplus |
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|
0.000 |
NETWORTH
|
|
|
68.759 |
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LOAN FUNDS |
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1] Secured Loans |
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|
0.000 |
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2] Unsecured Loans |
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83.243 |
TOTAL
BORROWING
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83.243 |
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TOTAL
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152.002 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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|
0.677 |
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Capital work-in-progress |
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|
0.000 |
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INVESTMENTS |
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0.133 |
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CURRENT ASSETS, LOANS &
ADVANCES |
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|
200.268 |
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Total Current Assets |
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200.268 |
Less: CURRENT LIABILITIES & PROVISIONS
|
|
|
49.076 |
Total Current Liabilities
|
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|
49.076 |
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Net
Current Assets |
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151.192 |
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TOTAL
|
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152.002 |
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 (Estimated) |
31.03.2005 |
31.03.2003 |
Sales Turnover [including other income]
|
260.00 |
293.800 |
333.650 |
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Profit/(Loss) Before Tax
|
NA |
NA |
4.959 |
Provision for Taxation
|
NA |
NA |
0.000 |
Profit/(Loss) After Tax
|
NA |
NA |
4.959 |
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Total Expenditure
|
NA |
NA |
8.882 |
KEY RATIOS
|
PARTICULARS |
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|
31.03.2003 |
PAT / Total Income
|
(%)
|
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|
1.48 |
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Net Profit Margin
(PBT/Sales) |
(%) |
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1.48 |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
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2.46 |
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Return on Investment (ROI)
(PBT/Networth) |
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0.07 |
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Debt Equity Ratio
(Total Liability/Networth) |
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2.92 |
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Current Ratio
(Current Asset/Current
Liability) |
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4.08 |
LOCAL AGENCY FURTHER INFORMATION
Mr.
Radheshyam Chokhani, proprietor of the concern retired on 1st April,
2001.
The concern is trade terms
with:
Ø
Venky’s India Limited
“Venkateshwara
House”, S. No. 114/A/2, Pune Sinhaged Road, Pune – 411 030, Maharashtra
Tel.
91-20-2599805/2599742/2599144/2599748/2599141
Fax.
91-20-2599561
Contact
Person: Mr. N. K. Toshniwal
Ø
Avet Chemicals Limited
No.
7, Green Park, Jalandhar – 144 001, Punjab
Tel.
91-181-259031/2225696
Contract
Person: Dr. V. S. Abrol
Ø
S. K. M. Animal Feeds
& Foods India Limited
No.
49 /C, Gandhiji Road, Erode – 638 002, Tamilnadu
Tel.
91-424-2217213/14/15
Fax.
91-424-221627/72933
Contact
Person: Mr. Palanisamy
Ø
Pioneer Feeds Private
Limited
503/1,
Pongalur – 641 667, Taluka: Tirupur, District: Coimbatore, Tamilnadu
Tel.
91-421-2816015 / 2816343 / 2816330
Fax.
91-421-2816329
Contact
Person: Mr. P. V. Raghupaty
Ø
F. Hoffmann La Roche
Limited
CH –
4070, Basel, Switzerland
Tel.
No. (004161) 6870181 / 6870168
Fax
No. (004161) 6889022 / 23
Ø
Archer Daniels Midland
Singapore Pte Limited
342,
Jalan Boon Lay, Singapore – 619527
Tel.
(0065) 2622553 / 6637662
Fax.
(0065) 2622643
Ø
EDISSEO
1,
Loyangway – 4, Singapore – 507 028
Tel.
(0065) 5431121
Fax.
(0065) 5453708
MEMBERSHIPS
Ø
The Compound Livestock
Feed Manufacturers Association of India
Ø
Indian Merchant Chamber
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.45.02 |
|
UK
Pound |
1 |
Rs.85.56 |
|
Euro |
1 |
Rs.57.24 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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 |
|
|
>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 |