MIRA INFORM
REPORT
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Report Date : |
06.08.2007 |
IDENTIFICATION DETAILS
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Name : |
CROWN PHARMACEUTICALS PRIVATE LIMITED |
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Registered Office : |
P - 235, Block-A, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.05.2003 |
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Com. Reg. No.: |
109234 |
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CIN No.: [Company
Identification No.] |
U51397WB2006PTC109234 |
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IEC No.: |
0207007560 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JPRC00306F |
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PAN No.: [Permanent
Account No.] |
AADCC0622N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Traders of Medicine and Health Care Products |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
-- |
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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 new company and taken over the running business of the
erstwhile partnership concern. Directors are reported as experienced and
respectable businessmen. Trade relations are fair. Payments are reported as
usually correct and as per commitments. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
P - 235, Block-A, |
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Tel. No.: |
91-33-25342672/3726,
40084315 |
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Mobile No.: |
91-9830056182 |
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Fax No.: |
91-33-25343786 |
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E-Mail : |
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Website : |
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Branches : |
61, Block B, |
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Tel. No.: |
91-33-25342672 / 3726 |
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Fax No.: |
91-33-25343786 |
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Area : |
1000 sq. ft. [Rented] |
DIRECTORS
|
Name : |
Mr. Sankar Brahma Narayan Ray |
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Designation : |
Managing Director |
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Address : |
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Date of Birth/Age : |
31.01.1974 |
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Qualification : |
P. G. Diploma |
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Experience : |
10 Years |
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Date of Appointment : |
02.04.2007 |
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Other Directorship : |
ASMI TECHNOLOGIES PRIVATE LIMITED U92900WB2005PTC105092 ABLE TECHNICAL SERVICES PRIVATE LIMITED U74140WB2006PTC107272 |
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Name : |
Mr. Avrendu Majumdar |
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Designation : |
Director |
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Address : |
Block CD 304, Sector 1, |
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Date of Birth/Age : |
20.06.1976 |
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Qualification : |
Graduate |
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Experience : |
5 Years |
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Date of Appointment : |
02.04.2007 |
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Other Directorship : |
ASMI TECHNOLOGIES PRIVATE LIMITED U92900WB2005PTC105092 |
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Name : |
Mr. Nayan Ghosh |
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Designation : |
Director |
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Address : |
91 Sreerampur, Garia,Kolkata – 700084, West |
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Date of Birth/Age : |
15.02.1979 |
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Qualification : |
Graduate |
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Experience : |
6 Years |
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Date of Appointment : |
02.04.2007 |
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Other Directorship : |
ABLE TECHNICAL SERVICES PRIVATE LIMITED U74140WB2006PTC107272 |
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Name : |
Mr. Partha Pratim Roy |
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Designation : |
Director |
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Address : |
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Name : |
Ms. Sankar Dipti Narayan Roy |
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Designation : |
Director |
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Address : |
Bishikanan, Teghoria, Kolkata – 700059, West |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Shares |
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Mr. Partha Pratim Roy |
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5000 |
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Ms. Sankar Dipti Narayan Roy |
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5000 |
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total |
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10000 |
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BUSINESS DETAILS
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Line of Business : |
Traders of Medicine and Health Care Products |
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Products : |
A) Surgical Disposables: |
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Agencies Held : |
Mediplus Disposables – Aurochem Laboratories – Casil Health Products Limited – Unicure Remedies – |
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Exports : |
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Countries : |
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GENERAL INFORMATION
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No. of Employees : |
15 |
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Bankers : |
Bank of 415/13-14, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Anindya Chakraborty and Associates Chartered Accountants |
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Address : |
23, |
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Mobile No.: |
91-9331023138 |
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Associates/Subsidiaries : |
ASMI TECHNOLOGIES PRIVATE LIMITED U92900WB2005PTC105092 ABLE TECHNICAL SERVICES PRIVATE LIMITED U74140WB2006PTC107272 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
CROWN
PHARMACEUTICALS
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
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1] Share Capital |
1.326 |
1.271 |
1.220 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
1.326 |
1.271 |
1.220 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.146 |
0.247 |
0.380 |
|
|
2] Unsecured Loans |
0.200 |
0.200 |
0.000 |
|
|
TOTAL BORROWING |
0.346 |
0.447 |
0.380 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
1.672 |
1.718 |
1.600 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.384 |
0.450 |
0.528 |
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|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
2.308
|
1.923 |
1.601 |
|
|
Sundry Debtors |
0.246
|
0.205 |
0.172 |
|
|
Cash & Bank Balances |
0.048
|
0.043 |
0.036 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
2.602
|
2.171 |
1.809 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
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Current Liabilities |
1.314
|
0.903 |
0.737 |
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|
Provisions |
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Total
Current Liabilities |
1.314
|
0.903 |
0.737 |
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Net Current Assets |
1.288
|
1.268 |
1.072 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
1.672 |
1.718 |
1.600 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
8.615 |
7.813 |
6.671 |
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Total Income |
8.615 |
7.813 |
6.671 |
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Profit/(Loss) Before Tax |
0.135 |
0.122 |
0.105 |
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Provision for Taxation |
-- |
-- |
-- |
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|
Profit/(Loss) After Tax |
0.135 |
0.122 |
0.105 |
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Expenditures : |
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Interest |
0.025 |
0.036 |
0.046 |
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Bank Charges |
0.002 |
0.001 |
0.001 |
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Payment to Auditors |
0.008 |
0.005 |
0.005 |
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Depreciation & Amortization |
0.066 |
0.079 |
0.096 |
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Other Expenditure |
0.536 |
0.462 |
0.442 |
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Total Expenditure |
0.637 |
0.583 |
0.590 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.57
|
1.56 |
1.57 |
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|
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Net Profit Margin (PBT/Sales) |
(%) |
1.57
|
1.56 |
1.57 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.84
|
4.65 |
4.49 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.10 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.25
|
1.06 |
0.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.98
|
2.40 |
2.45 |
CROWN
PHARMACEUTICALS PRIVATE LIMITED
PROJECTED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.500 |
1.000 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.010 |
0.580 |
0.250 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2.510 |
1.580 |
0.750 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.500 |
2.500 |
2.500 |
|
|
2] Unsecured Loans |
0.000 |
0.500 |
1.000 |
|
|
TOTAL BORROWING |
2.500 |
3.000 |
3.500 |
|
|
DEFERRED TAX LIABILITIES |
|
|
|
|
|
|
|
|
|
|
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TOTAL |
5.010 |
4.580 |
4.250 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.241 |
0.281 |
0.328 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.600
|
3.500 |
3.450 |
|
|
Sundry Debtors |
1.520
|
0.972 |
0.600 |
|
|
Cash & Bank Balances |
0.079
|
0.057 |
0.050 |
|
|
Other Current Assets |
0.010
|
0.006 |
0.004 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
5.209
|
4.535 |
4.104 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.425
|
0.222 |
0.170 |
|
|
Provisions |
0.015
|
0.014 |
0.012 |
|
Total
Current Liabilities |
0.440
|
0.236 |
0.182 |
|
|
Net Current Assets |
4.769
|
4.299 |
3.922 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.010 |
4.580 |
4.250 |
|
PROJECTED PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
Sales Turnover |
21.500 |
16.500 |
12.500 |
|
|
Total Income |
21.500 |
16.500 |
12.500 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
0.430 |
0.330 |
0.250 |
|
|
Provision for Taxation |
0.000 |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
0.430 |
0.330 |
0.250 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Interest |
0.338 |
0.325 |
0.208 |
|
|
Bank Charges |
0.130 |
0.127 |
0.125 |
|
|
Payment to Auditors |
0.008 |
0.008 |
0.008 |
|
|
Depreciation & Amortization |
0.040 |
0.047 |
0.056 |
|
|
Other Expenditure |
0.954 |
0.813 |
0.603 |
|
Total Expenditure |
1.470 |
1.320 |
1.000 |
|
PROJECTED KEY
RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.00
|
2.00 |
2.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.00
|
2.00 |
2.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.89
|
6.85 |
5.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.21 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.17
|
2.05 |
4.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
11.84
|
19.22 |
22.55 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
The Registered
Office of the company has been shifted from 61, Lake Town Block-B, Kolkata –
700089, West Bengal, India to the present address w.e.f. 03.05.2007
Subject was
started as a Sole Proprietorship Company under the able leadership of Mr. Nayan
Ghosh in the later parts of 2003. It had completed three full years of
operation as on 31st March 2007. In the meantime, subject was formed
in the year 2006 with a view to take over the entire operations as well as the
assets and the liabilities of the aforesaid Crown Pharmaceuticals. As present, the sole proprietorship company
does not exist any more and has been officially taken over by the Private
Limited Company formed for the purpose.
Till the
31.03.2007, the Auditor for the sole proprietorship company was Anindya
Chakraborty and Associates.
The Private
Limited Company is in the process of process of appointing a new auditor namely
Chakrabarti and Gangopadhyay.
TRADE REFERENCE
Mr. Deepak
Desai, Aurochem Laboratories, 333 Gundecha Industrial Complex, Kandivali,
Mumbai
91-22-28858503
/ 04
Mr. Sakshi
Goel, Mediplus Disposables, Pitampura,
91-11-47047481
/ 27353189
Mr. Deshbandhu
Saha
Unicure
Remedies,
91-9987003376
FIXED ASSETS
- Computer
- Furniture
- Refrigerator
- Oxygen Cylinders
- Motor Car
AS PER WEBSITE
Subject is a group of companies active as a thriving business conglomerate having active interests in the field of Pharmaceuticals, Healthcare Products & Services. Their company provides Information Technology Services & Consulting in the aforesaid arenas.
Crown
Pharmaceuticals is a diversified business powerhouse with
numerous offices, strong infrastructure and major representation in
Crown
Pharmaceuticals has maintained a very strong presence in the
Indian Pharmaceutical Industry since its inception in the year 1991. Making a
substantial mark in its defined business segments in the initial years, their
company emerged as a leading name amongst the Pharmaceuticals Traders. The
count does not stop here. Today, Crown
Pharmaceuticals stands tall and proud having direct and
indirect association with
Cipla, Sun Pharma, Alkem, Novartis, Aurochem Labs, Dr. Reddy’s, Unicure
Remedies Mediplus Disposables and many more.
The most important asset that Crown Pharmaceuticals has developed over the years is an excellent positive image and goodwill in the Healthcare and Pharmaceutical segments. This is primarily due to its passion for quality, agility and an obsession for growth since its inception. As a Group, they continuously strive to pursue excellence in whatever they do.
Crown
Pharmaceuticals brings together a team of excellent
professionals with rich experience who provide direction to the Company's
executive management in a dynamic economic and business environment. The Board consists
of Leading Consultants including all the active founders, along with external
members of the Board who are highly successful professionals and high achievers
in business and society.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.40.67 |
|
|
1 |
Rs.82.12 |
|
Euro |
1 |
Rs.55.60 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
36 |
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. |
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 |
|