MIRA
INFORM REPORT
|
Report Date : |
11.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
DANA
PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
209,
Bhaveshwar Complex, Vidya Vihar [West], Mumbai – 400086, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2005 |
|
|
|
|
Date of Incorporation : |
07.08.1996 |
|
|
|
|
Com. Reg. No.: |
11-101669 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U99999MH1996PTC101669 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMD05174B |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers
of Pharmaceutical Products. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
|
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow
but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a part of Dana Group, a medium sized industrial house. Profit margin is low. Financial position can be regarded as
moderate. The
company can be considered for small to mediocre business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
209,
Bhaveshwar Complex, Vidya Vihar [West], Mumbai – 400086, Maharashtra, India |
|
Tel. No.: |
91-22-25156105 |
|
Fax No.: |
91-22-25167827 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory
1 : |
Plot
34, M.I.D.C., Morivali, Ambernath, Mumbai, Maharashtra, India |
|
Tel.
No.: |
91-22-25123016 |
|
Fax
No.: |
91-22-25167827 |
|
E-Mail
: |
DIRECTORS
|
Name : |
Ms.
Veena Anil Gidwani |
|
Designation : |
Director
|
|
Address : |
55/A/32,
Brindaban Society, Thane [West] – 400601, Maharashtra, India |
|
Date of Appointment : |
07.08.1996 |
|
|
|
|
Name : |
Mr.
Kishinchand Lakhimal Gidwani |
|
Designation : |
Director
|
|
Address : |
55/A/32,
Brindaban Society, Thane [West] – 400601, Maharashtra, India |
|
Date of Appointment : |
07.08.1996 |
|
Date of Ceasing : |
18.09.1996 |
|
|
|
|
Name : |
Mr.
Anil Kishinchand Gidwani |
|
Designation : |
Director
|
|
Address : |
55/A/32,
Brindaban Society, Thane [West] – 400601, Maharashtra, India |
|
Date of Appointment : |
18.09.1996 |
|
|
|
|
Name : |
Ms.
Sabita Ramesh Hathiramani |
|
Designation : |
Director
|
|
Address : |
621,
Linen Hall, 162 Regent Street, London W1 R 5 TA |
|
Date of Appointment : |
07.08.1996 |
|
|
|
|
Name : |
Mr.
Jacky Ramesh Hathiramani |
|
Designation : |
Director
|
|
Address : |
621, Linen
Hall, 162 Regent Street, London W1 R 5 TA |
|
Date of Appointment : |
07.08.1996 |
|
|
|
|
Name
: |
Mr.
Gautam Ramesh Hathiramani |
|
Designation
: |
Director
|
|
Address
: |
621,
Linen Hall, 162 Regent Street, London W1 R 5 TA |
|
Date
of Appointment : |
07.08.1996 |
|
|
|
|
Name
: |
Mr.
Deepak Sakrani Roche |
|
Designation
: |
Director
|
|
Address
: |
142,
AWO-OWO Road, Ikoyi Lagos, Nigeria |
|
Date
of Appointment : |
07.08.1996 |
|
|
|
|
Name
: |
Mr.
Ramesh Naraindas Hathiramani |
|
Designation
: |
Director
|
|
Address
: |
621,
Linen Hall, 162 Regent Street, London W1 R 5 TA |
|
Date
of Appointment : |
27.12.1996 |
|
Date
of Ceasing : |
30.03.2000 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Mr.
Kishinchand Lakhimal Gidwani |
|
100 |
|
Ms.
Veena Anil Gidwani |
|
100 |
|
Ms.
Sabita Ramesh Hathiramani |
|
849900 |
|
Mr.
Jacky Ramesh Hathiramani |
|
474950 |
|
Mr.
Gautam Ramesh Hathiramani |
|
474950 |
|
TOTAL |
|
1800000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
of Pharmaceutical Products. |
||||||||
|
|
|
||||||||
|
Products : |
Amaxin Amebanil Danacillin Danaclox Danacyclin Dana
CPM Danacid Ferrodan Paradana Quimal |
PRODUCTION
STATUS
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Tablets |
Qty. in Units |
1500.000 |
1093192000.00 |
|
Capsules |
Qty. in Units |
405.000 |
70430000.00 |
|
Syrup |
Qty. in Bottles |
4.000 |
1518600.00 |
GENERAL
INFORMATION
|
No. of Employees : |
200 |
|
|
|
|
Bankers : |
Not
Available |
|
|
|
|
Banking Relations : |
-- |
|
|
|
|
Auditors : |
Shah
& Modi Chartered
Accountants, 101,
Bhaveshwar Complex, Vidyavihar [West], Mumbai – 400088, Maharashtra, India |
|
Tel. No.: |
91-22-25153825
/ 25126389 |
|
Fax No.: |
91-22-25125573 |
|
E-Mail : |
|
|
|
|
|
Associates : |
Vandana
(UK) Limited 11A
Canfield Place, London NW6 3BT, UK Tel.
No. : +44-20-73289999 Fax
No. : +44-20-7328-9977 E-mail:
salesinfo@vandana.com Dana
Overseas Private Limited 209,
Bhaveshwar Complex, Vidyavihar (West), Mumbai - 400085, Maharashtra, India Tel.
No. : +91-22-25123016 Fax
No. : +91-22-5167827 E-mail:
dppl@dana.co.in Vandana
FZCO Dubai
Airport Free Zone, 4th East Wing A, Ground Floor G-02 Tel.
No. : + 971 4 204 5045 Fax
No. : + 971 4 204 5049 E-mail:
contact@danagroup.com Dana
Limited Plot
No 3, Near Odaw Railway Station, Ring Road South |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
2250000 |
Equity
Shares |
Rs. 10/- each |
Rs. 22.500 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
1800000 |
Equity
Shares |
Rs. 10/- each |
Rs. 18.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
18.000 |
18.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
3.196 |
|
|
4] (Accumulated Losses) |
|
[4.427] |
0.000 |
|
|
NETWORTH |
|
13.573 |
21.196 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
12.796 |
8.421 |
|
|
TOTAL BORROWING |
|
12.796 |
8.421 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
26.369 |
29.617 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
12.178 |
14.057 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.004 |
0.006 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
13.091 |
19.031 |
|
|
Sundry Debtors |
|
32.786 |
13.381 |
|
|
Cash & Bank Balances |
|
1.396 |
3.147 |
|
|
Other Current Assets |
|
0.367 |
0.347 |
|
|
Loans & Advances |
|
13.968 |
9.041 |
|
Total Current Assets |
|
61.608 |
44.947 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities & Provisions |
|
47.443 |
29.422 |
|
Total Current Liabilities |
|
47.443 |
29.422 |
|
|
Net Current Assets |
|
14.165 |
15.525 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.022 |
0.029 |
|
|
|
|
|
|
|
|
TOTAL |
|
26.369 |
29.617 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
165.235 |
150.596 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
[7.624] |
[9.956] |
|
Provision
for Taxation |
|
0.000 |
0.000 |
|
Profit/(Loss)
After Tax |
|
[7.624] |
[9.956] |
|
|
|
|
|
|
Export
Value |
|
125.065 |
124.096 |
|
|
|
|
|
|
Total
Expenditure |
|
170.596 |
157.885 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
[4.61] |
[6.61] |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
[4.61] |
[6.61] |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
[10.33] |
[16.87] |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
[0.56] |
[0.46 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
4.43 |
1.78 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
1.29 |
1.52 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed
Assets :
Factory
Premises, Office Premises, Plant & Machinery, Computer, Furniture, Motor
Car, Truck and Cycle
WEBSITE
DETAILS :
Dana
Pharmaceuticals Limited commenced manufacturing of intravenous fluids in 1996.
The factory has been expanded with the setting up of a formulation plant for
the manufacture of a wide range of pharmaceutical formulations. With their
motto "a Commitment to Healthcare" in mind and one of the best
technologies in hand, they are devoted to the production of quality and genuine
products that are offered at the most affordable prices nationwide.
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.45.16 |
|
UK
Pound |
1 |
Rs.85.99 |
|
Euro |
1 |
Rs.57.92 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
37 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|