MIRA
INFORM REPORT
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Report Date : |
17.08.2007 |
IDENTIFICATION DETAILS
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Name : |
MAY FLOWER |
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Registered Office : |
83, G.I.D.C. Estate Phase II, Vatva, Ahmedabad – 382445, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2001 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Psychotropic Medicines, Neuroleptics, Antiparkinsonian
medicines, Antidepressants, Anxiolytics and Hypnotic, Antiepileptics and Mood
Stabilizers , Nootropic, Central Analgesic, GI – Adjuncts. |
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 : |
USD 8000 |
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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 having satisfactory track.
Trade relations are fair. Payments are usually correct and as per
commitments. The concern can be considered normal for business dealings at usual trade,
terms and conditions. |
LOCATIONS
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Registered Office : |
83, G.I.D.C. Estate, Phase II,
Vatva, Ahmedabad – 382445, |
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Tel No.: |
91-79-25830139/ 25830638 |
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Mobile No.: |
91-9825050839 |
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Fax No.: |
91-79-25830638 |
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E-Mail : |
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Area : |
1600 sq. yards |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Rajesh Ganatra |
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Designation : |
Proprietor |
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Date of Birth/Age : |
36 Years |
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Qualification : |
Graduation |
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Experience : |
15 Years |
KEY EXECUTIVES
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Name : |
Mr. Rajesh Ganatra |
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Designation : |
Chief Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Psychotropics Medicines, Neuroleptics, Antiparkinsonian
medicines, Antidepressants, Anxiolytics and Hypnotic, Antiepileptics and Mood
Stabilizers , Nootropic, Central Analgesic, GI – Adjuncts. |
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Products : |
·
Psychotropic
Medicines ·
Neuroleptics: Ojoy, Risen, Risen-T, Risen Plus/Forte, Dolsi,
Maricalm H, Maricalm-T, Maricalm Plus, Maricalm Forte, Elzin, Trankvil-T,
Trankvil Plus, etc. ·
Antiparkinsonian:
Hexiflor ·
Antidepressants: Imitab, Imitab-C, Imitab Plus, Imitab
Forte, Mytrip, Mytrip Plus, Mytrip-H, Flunam, Do-Pin, Clopram, Serly, Escer,
etc. ·
Anxiolytics
& Hypnotic: Prizm, Prizm
Plus/Forte, Miraz, Zepox, Zepox-T, Omni, Soza ·
Antiepileptics
& Mood Stabilizers: Savy CR,
Klon, Litman, Litman SR-400, etc. ·
Nootropic: Noocet
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Central
Analgesic: Analtra-DT, Analtra-P,
etc. ·
GI-Adjuncts: Floritex, Floritex-D, Pantakul-40, etc |
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Terms : |
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Selling : |
Credit ( 30 – 45 Days) |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
Stockists, Distributors |
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No. of Employees : |
22 Persons |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. M Maniyar Associates Chartered Accountant |
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Mobile No.: |
91-9879517266 |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 millions ( Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 2.000 millions ( Estimated ) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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16.000 |
12.500 |
Expected Sales (2007-08) : Rs. 22.500 millions.
LOCAL AGENCY FURTHER INFORMATION
Trade References:
- Gajendra
Medicals,
- Vijay Pharma,
- Indian
Medicines,
- Shri Ram Pharma,
Jaipur
WEB DETAILS:
Elevating
the quality of patients' lives on a worldwide scale..
They are a trusted and well-established pharmaceutical company providing
unmatched quality medicines in numerous compositions. Established in the year
2001 and growing into prominence within a short span of time, today, they hold
a leading position in the discovery and development of drugs based upon
international quality standards. They all, at Mayflower India, strive
to provide the best quality products to their customers and keep themselves
engaged in continuous research to innovate new life saving drugs which are more
effective and highly affordable. Due to their expertise and quality
consciousness, their products are highly acclaimed not only in the country but
also abroad. Having specialization in Psychotropic Medicines,
they are a highly reputed manufacturer, supplier and exporter of
a massive range of quality tested Medicines such as Psychotropic
Medicines, Neuroleptics, Antiparkinsonian Medicines, Antidepressants,
Anxiolytics & Hypnotic, Antiepileptics & Mood Stabilizers, Nootropic,
Central Analgesic, GI-Adjuncts, etc. In the production of all
these formulations, they maintain international quality standards and perform
stringent quality tests under the supervision of highly qualified team of
medicos. As a result, their medicines provide guaranteed results with assured
safety and speedy relief. After leading the domestic market, they are now
concentrating upon expanding their international market base and be a global
leader in their field
At Mayflower
Quality
Quality has always been the first and foremost relief at Mayflower India and
for them, it is the touchstone of success. Their mission is to develop high
quality and innovative products for the benefit of both patients and
physicians. At their company, they are committed to develop life saving
medicines which can also improve the quality of life for the patients suffering
from chronic illness. To ensure that all the products they manufacture can
meet, if not exceed, the expectation level of their customers, they maintain a
well defined quality management policy. All the products are thoroughly tested
at their quality testing lab and international quality standard is maintained
with each of them. Thus, they have created a long standing tradition of
building relationships based on the highest standards, with their clients and
cater to their needs with the best products in the industry.
Infrastructure
In its journey embarked with prominence and success, Mayflower
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various stheirces
including but not limited to: The Ctheirts,
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] Ctheirt 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 :
Their
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.
Their 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.41.57 |
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1 |
Rs.82.14 |
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Euro |
1 |
Rs.55.74 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
NO |
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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 |
NO |
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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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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavtheirable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavtheirable & favtheirable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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