MIRA
INFORM REPORT
|
Report Date : |
6th
November, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
BIO
INCORP |
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Registered Office : |
LCGC
Towers, 161/166, behind Anand Theatre, Paigha Colony, S P Road, Secunderabad
– 500 003, Andhra Pradesh, India |
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Country : |
India |
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Financials (as on) : |
Nil |
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Date of Incorporation : |
2005 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Marketing
of Analytical Instruments for Industrial Appliances |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
-- |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established concern of LCGC Group. It is controlled by Mr. N Mani.
Management remained non-cooperative during current investigation. Nothing
adverse reported. Trade relations are fair. The concern can be considered
normal for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
LCGC
Towers, 161/166, behind Anand Theatre, Paigha Colony, S P Road, Secunderabad
– 500 003, Andhra Pradesh, India |
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Tel. No.: |
91-40-55315242/
43 |
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Fax No.: |
91-40-55329000 |
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E-Mail : |
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Area : |
Large
by Group |
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Location : |
Owned |
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Head
Office : |
LCGC
Towers, 161/166, behind Anand Theatre, Paigha Colony, S P Road, Secunderabad
– 500 003, Andhra Pradesh, India |
|
Tel.
No.: |
91-40-55315242/
43 |
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Fax
No.: |
91-40-55329000 |
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E-Mail
: |
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Area : |
Large
by Group |
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Location : |
Owned |
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Corporate
Office : |
104,
Champaklal Industrial Area, Near Sion Telephone Exchange, Sion (East), Mumbai
– 400 022, Maharashtra, India |
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Tel.
No.: |
91-22-24073068/
24091124 |
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Fax
No.: |
91-22-24074562 |
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E-Mail
: |
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Branches
: |
B-3/10,
3rd Floor, Shanti Apartment, Near Ashish School, Bodakdev,
Ahmedabad – 380 051, Gujarat, India |
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Tel.
No.: |
91-79-26871043/
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Mobile
No.: |
91-9374015242 |
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Fax
No.: |
91-79-26872926 |
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E-Mail
: |
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Branches
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MS-1,
A Block, Flat No. 1, Nandini Layout, Bangalore – 560 096, Karnataka, India |
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Tel.
No.: |
91-80-23595827 |
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Fax
No.: |
91-80-23595827 |
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E-Mail
: |
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Branches
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18, 2nd
Main Road, Krishna Nagar, Chrompet, Chennai – 600 044, Tamilnadu, India |
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Tel.
No.: |
91-44-22238259 |
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Fax
No.: |
91-44-22233483 |
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E-Mail
: |
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Branches
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S-5,
Kiran Jyothi Complex, Near Amar Jyothi Housing Society, Mayur Vihar, Phase I,
New Delhi – 110 091, India |
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Tel.
No.: |
91-11-22756195 |
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Fax
No.: |
91-11-22794814 |
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E-Mail
: |
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Branches
: |
Mr.
Pankaj Rai C/o
Sh. Shakti Chand Sharma, H No. 3199/2, MIG Cat II, Sector 44-D, Chandigarh –
160 047, Union Territory, India |
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Mobile
No.: |
91-9357448808 |
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E-Mail
: |
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Branches
: |
Mr.
Puroshttam Pawar E-18,
Rahul Complex, Near Krishna Hospital, Paud Road, Kothrud, Pune –
411 038, Maharashtra, India |
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Telefax
No.: |
91-20-25468838 |
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Mobile
No.: |
91-9373015242 |
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E-Mail
: |
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Branches
: |
Mr.
Ashish Dayma 101,
Guru Kripa Apartment, 25, Kalapanalok Colony, Behind Anand Bazaar Area,
Indore – 452 018, Madhya Pradesh, India
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Tel.
No.: |
91-731-2561037 |
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Mobile
No.: |
91-9826084686 |
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E-Mail
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Branches
: |
Mr.
Ketan R Patel 12-B,
Aatman park Society, Near Haridarshan Row House, New Adajan Pal Road, Adajan,
Surat – 395 003, Gujarat, India |
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Mobile
No.: |
91-9824149149 |
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E-Mail
: |
SOLE PROPRIETOR
|
Name : |
Mr. N
Mani |
|
Designation : |
Sole
Proprietor |
KEY EXECUTIVES
|
Name
: |
Mr.
Sridhar |
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Designation
: |
Chief
Executive Officer |
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Name
: |
Mrs.
Selvakumari |
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Designation
: |
Chief
Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Marketing
of Analytical Instruments for Industrial Appliances |
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Products : |
Analytical
Instruments |
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Imports from : |
USA,
Germany, Japan |
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GENERAL
INFORMATION
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Customers : |
¯
End
Users |
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Bankers : |
¯
UTI
Bank Limited
Secunderabad, Andhra Pradesh, India |
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Banking Relations : |
Satisfactory
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Auditors : |
Not
Available |
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Sister Concerns : |
¯
LCGC
Supermarket
Secunderabad, Andhra Pradesh, India ¯
LCGC
Chromatography Solutions Private Limited
Paid Up Capital Rs. 14.193 millions ¯
HYM
Brothers Analytical Solutions
Mumbai, Maharashtra, India |
FINANCIAL DATA
[all figures are in Rupees
Millions]
Group
Turnover: Rs. 550 millions.
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
¯
Ranbaxy
Laboratories Limited, New Delhi
¯
Cipla
Limited, Mumbai
¯
Lupin
Limited, Mumbai
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.44.84 |
|
UK
Pound |
1 |
Rs.85.55 |
|
Euro |
1 |
Rs.57.28 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
YES |
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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 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 |
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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 |
|
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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