MIRA INFORM REPORT
|
Report Date : |
20.11.2006 |
IDENTIFICATION DETAILS
|
Name : |
NANDLAL BANKATLAL PRIVATE
LIMITED |
|
|
|
|
Registered Office : |
15-B,
Prithvi Industrial Estate, 15/2, Ringanwada, Nani Daman, Daman and Diu, Union
Territory, India |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2005 |
|
|
|
|
Date of Incorporation : |
29.06.1993 |
|
|
|
|
Com. Reg. No.: |
56-1384 |
|
|
|
|
CIN No.: [Company Identification No.] |
U24232DD1993PTC001384 |
|
|
|
|
TAN No.: [Tax Deduction & Collection Account No.] |
MUMN09913B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN1292J |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Supplier of Organic &
Inorganic Chemicals / Bulk Drugs |
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 |
|
Maximum Credit Limit : |
USD 35000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a family owned
company engaged in the business as traders in pharmaceutical bulk drugs/raw
materials. It is also an exporter and importer of these items. The Company’s
performance has been satisfactory. Directors are resourceful businessmen.
Trade relations are reported as fair. Payments are usually correct and as per
commitments. The Company can be
considered normal for business dealings at usual terms and conditions. |
LOCATIONS
|
Registered Office : |
15-B,
Prithvi Industrial Estate, 15/2, Ringanwada, Nani Daman, Daman and Diu, Union
Territory, India |
|
Tel. No.: |
91-22-56372845/22042744 |
|
Fax No.: |
91-22-56372846 |
|
Mobile No.: |
9820222312 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
313 sq. ft |
|
Location : |
Owned |
|
|
|
|
Head Office : |
103, Prospect Chambers,
317/321, Dr. D.N. Road, Fort, Mumbai – 400001, Maharashtra, India. |
|
Tel. No.: |
91-22-66372845/22042744 |
|
Mobile |
91-9820222312 |
|
Fax No.: |
91-22-66372846 |
|
E-Mail : |
|
|
|
|
|
Warehouse : |
Manish
Compound, Building No. 3/7, First Floor, Thane Road, Anjar Phata, Bhiwandi,
District Thane, Maharashtra, India |
|
Tel. No.: |
91-22-91372393 |
|
|
|
|
Overseas Office : |
Delta
Corporation Pte Limited 111,
North Bridge Road, 27-01/02 Peninsula Plaza, Singapore – 179098 |
|
Tel. No.: |
65599150 |
|
Fax No.: |
63893988 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Akhil B. Tody |
|
Designation : |
Director |
|
Date of Birth/Age : |
10.07.1959 |
|
Qualification: |
L.L.B. |
|
Experience: |
25 Years |
|
Date of Appointment : |
29.06.1993 |
|
Address: |
403, Rajmala Apartment,
87B, Jagmohandas Road Nepean Sea Road, Mumbai - 400006 |
|
|
|
|
Name : |
Ms. Deepika A. Tody |
|
Designation : |
Director |
|
Date of Birth/Age : |
10.11.1965 |
|
Qualification: |
B.com. |
|
Date of Appointment : |
18.07.2002 |
|
Address: |
403, Rajmala Apartment,
87B, Jagmohandas Road Nepean Sea Road, Mumbai - 400006 |
KEY EXECUTIVES
|
Name : |
M/s
Anand Amdekar & Associates |
|
Designation : |
Company
Secretaries |
|
Address : |
1
Mahajan CHS Ltd., Veer Savarkar Marg, Near Lokmanya Society, Thane (W),
Mumbai 400 602 |
|
Phone |
91-22-25378092 |
|
E Mail |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr. Ahkil B. Tody |
139950 |
69.98 |
|
Ms. Deepika Tody |
58750 |
29.38 |
|
Ms. Sneha Akhil Tody |
650 |
0.33 |
|
Mr. Srishti Akhil Tody |
650 |
0.33 |
|
Total |
200000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer, Exporter and Supplier of Organic &
Inorganic Chemicals / Bulk Drugs |
|
|
|
|
Products : |
List
of Other Products v
Veterinary Medicine v
Bulk Drugs v
Antibiotics v
Vitamins v
Antimalarials v
Antibacterials v
Anti TB Drugs v
Macrolides v
Steroids v
Acetonitrile v
Alprazolam v
Chloromphenicol
Palmitate v
Cyproheptadine v
Domperidon v
Fluconazole v
Glipizide v
Ketakonazole v
Ketamin HCL v
Lansoprazole
Pallets v
Loperamide |
|
|
|
|
Exports to : |
Greece
and Nepal |
|
|
|
|
Imports from : |
Thailand,
Singapore, China, Aginomoto, Korea, Brazil, |
|
|
|
|
Terms : |
|
|
Selling : |
Credit
(60 days) terms |
|
|
|
|
Purchasing : |
L/C
and Credit (90 days) terms |
GENERAL INFORMATION
|
Customers : |
Ø
Retailers Ø
End Users |
|
|
|
|
Suppliers: |
Ø
Dr. Reddy’s Lab Ø
Cognis Ø
Roche Ø
Boeringer Ø
Takeda Ø
UV Labs Ø
Lonza USA Ø
Nicholas Ø
BASF Ø
Longmarch Ø
Duphar |
|
|
|
|
No. of Employees : |
Around
10 |
|
|
|
|
Bankers : |
v
Corporation Bank ,
Abdul Rehman Street Branch, Mumbai - 400 003, Maharashtra, India v
ICICI Bank Limited,
215, Free Press House, Free Press Journal Marg, Nariman Point, Mumbai –
400021 |
|
|
|
|
Facilities : |
The
Concern enjoys credit facility of RS. 22.000 million from its banker. |
|
|
|
|
Banking Relations : |
Satisfactory
|
|
|
|
|
Auditors : |
Udani Mehta & Company Chartered Accountants |
|
Address : |
Omkaran
Service Road, Bandra (East), Mumbai, Maharashtra, India |
|
Tel. No.: |
91-22-26437199/26438309 |
|
Fax No. : |
91-22-26455356 |
|
E Mail |
|
|
|
|
|
Sister Concerns : |
·
Exone Pharma 6633/5
Road No. 6, GIDC, Sachin,
Surat, Gujarat, India E-mail
: exone@todyindia.com Line of Business :- Trader of
Pharmaceutical Bulk Drugs. ·
Transwin International
Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400,000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.000 millions |
|
100,000 |
Preference
Shares |
Rs. 10/- each |
Rs. 1.000 million |
|
|
Total |
|
Rs. 5.000 Millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200,000 |
Equity Shares |
Rs. 10/ - each |
Rs. 2.000 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
SHAREHOLDERS
FUNDS |
|
|
|
|
1]
Share Capital |
2.000 |
2.000 |
3.000 |
|
2]
Reserves & Surplus |
6.367 |
5.879 |
5.210 |
NETWORTH
|
8.367 |
7.879 |
8.210 |
|
LOAN
FUNDS |
|
|
|
|
1]
Secured Loans |
6.119 |
3.271 |
2.675 |
|
2]
Unsecured Loans |
3.064 |
0.100 |
2.094 |
TOTAL
BORROWING
|
9.183 |
3.371 |
4.769 |
|
|
|
|
|
TOTAL
|
17.550 |
11.250 |
12.979 |
|
|
|
|
|
|
APPLICATION
OF FUNDS |
|
|
|
|
|
|
|
|
|
FIXED
ASSETS [Net Block] |
1.025 |
0.931 |
0.583 |
|
Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
INVESTMENTS |
1.360 |
1.360 |
1.360 |
|
|
|
|
|
|
CURRENT
ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
14.364 |
11.437 |
14.993 |
|
Sundry
Debtors |
19.108 |
17.622 |
12.733 |
|
Cash
& Bank Balances |
4.044 |
1.803 |
1.483 |
|
Other
Current Assets |
0.000 |
0.000 |
0.000 |
|
Loans
& Advances |
0.933 |
0.860 |
0.544 |
|
Total Current Assets |
38.449 |
31.722 |
29.753 |
|
Less:
CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
Current
Liabilities |
22.684 |
22.413 |
18.417 |
Provisions
|
0.600 |
0.350 |
0.300 |
Total Current Liabilities
|
23.284 |
22.763 |
18.717 |
Net
Current Assets
|
15.165 |
8.959 |
11.036 |
|
|
|
|
|
|
MISCELLANEOUS
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
|
17.550 |
11.250 |
12.979 |
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
Sales
Turnover [including other income] |
118.026 |
113.544 |
104.551 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
0.738 |
1.009 |
0.766 |
|
Provision
for Taxation |
0.250 |
0.350 |
0.300 |
|
Profit/(Loss)
After Tax |
0.488 |
0.659 |
0.466 |
|
|
|
|
|
Export Value
|
1.054 |
2.618 |
0.370 |
|
|
|
|
|
Import Value
|
66.341 |
61.574 |
NA |
|
|
|
|
|
|
Total Expenditure |
115.949 |
61.746 |
103.784 |
KEY RATIOS
|
For the year Ending |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
|
|
|
|
|
PAT / Total Income |
0.41 |
0.58 |
0.44 |
|
Net Profit Margin |
0.63 |
0.89 |
0.73 |
|
Return on Total Assets |
1.20 |
1.94 |
2.41 |
|
Return on Investment
(ROI) |
5.83 |
8.36 |
0.09 |
|
Current Ratio |
1.65 |
1.39 |
1.59 |
|
Quick Ratio |
1.03 |
0.89 |
-- |
|
Debt Equity Ratio |
1.10 |
0.43 |
3.86 |
|
Current
Liabilities/Networth |
2.78 |
2.89 |
-- |
|
Fixed Asset / Networth |
0.12 |
0.12 |
-- |
|
Average Collection Days |
59.32 |
56.87 |
-- |
|
Account Receivables
Turnover |
6.15 |
6.42 |
-- |
|
Inventory Turnover |
8.19 |
9.89 |
-- |
|
Asset Turnover |
114.70 |
121.62 |
-- |
LOCAL AGENCY FURTHER INFORMATION
Investment
Rs.1.359 Millions (336,960 Shares having a face
value of HK$1 each on Transwin International Limited – RBI Permission No. BYWGX
19940014 Dated - 12.01.1994)
It is in trade terms with :-
·
Medichrom International
S/A
·
Everest Pharmaceuticals
Private Limited
·
Ajinomoto Company
(Thailand) Limited
·
Basf South East Asia
Private Limited
Products
:
Ø
Sulphadizine BP 98
Ø
Doxycycline HCL BP 93
Ø
D-Panthenol Liquid
Ø
Carbamezapine BP 98
Ø
Griseofulvin CP 2000
Ø
Levamisol HCL BP 93
Ø
Aspartame USP
Ø
Gliclazide BP 2000
Ø
D-Calcium Panthothenate
Ø
Gentamycin Sulphate BP
93
Ø
S-Carboxymethyl – L-
Cystine
|
Name
of the company |
NANDLAL BANKATLAL PRIVATE LIMITED |
|
Presented By |
-- |
|
1)
Date and description of instrument creating the change |
Deed
of hypothecation dated 27.01.2005 executed by Nandlal Bankatlal Private
Limited in favour of ICICI Bank |
|
2)
Amount secured by the charge/amount owing on the securities of charge |
Secured
working capital facilities not exceeding Rs. 22.620 Millions from time to
time are hereinafter collectively referred to as extended granted to Nandlal
Bankatlal Private Limited |
|
3)
Short particular of the property charged. If the property acquired is subject
to charge, date of the acquired of the property should be given |
The
properties more particularly described in Annexure/hereto |
|
4)
Gist of the terms and conditions and extent and operation of the charge. |
Covenant
by the borrower to comply to ensure compliances with all the terms and
conditions set out in the master the borrower and ICICI as modified amended
from time to time The
borrower shall all amount in respect of the facilities and pays interested
and all other monies in the manner set out in the agreement and the other
transaction document The
assets were thereby hypothecation inter alia to ICICI as and by way of
exclusive and exclusive charge as specified for and be charged with the
repayment The
borrower to keep the assts in marketable and good condition and also insured
as provided in the deed Power
of entry power to take charge of seize appoint of and remove and sale by any
part of the assets etc All
other terms and conditions as contained in the deed of hypothecation |
|
5)
Name and Address and description of the person entitled to the charge. |
ICICI
Bank Limited, 215, Free Press House, Free Press Journal Marg, Nariman Point,
Mumbai – 400021 |
|
6)
Date and brief description of
instrument modifying the charge |
No
instrument was executed but on the 22.09.2005 a mortgage was created by the
borrower in favor of ICICI Bank by deposite of title deeds with ICICI Bank in
respect in order to security thereon as and by way of a mortgage of title
deeds on the 2.07.2005 |
|
7)
Particulars of modifications specifying the terms and conditions or the
extent of operations of the charge in which modification is made and the
details of the modification. |
The
facility together with all interest front end fees, liquidated damages on
prepayment and all other monies payable by the borrower to ICICI Bank in
respect thereof secured under the aforesaid deed of hypothecation with all
building and permanently fastened anything attached to the earth more
particularly described |
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.44.99 |
|
UK
Pound |
1 |
Rs.85.34 |
|
Euro |
1 |
Rs.57.63 |
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
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 |
|
|
>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 |