MIRA
INFORM REPORT
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Report Date : |
03.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
RELIANCE LIFE
SCIENCES PRIVATE LIMITED |
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Registered Office : |
2nd
Floor, Chitrakootshree Ram Mills Premises, Ganpatrao Kadam Marg, Worli,
Mumbai – 400013 |
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Country : |
India |
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Financials (as on) : |
31.03.2003 |
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Date of Incorporation : |
30.01.2001 |
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Com. Reg. No.: |
11-130654 |
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CIN No.: [Company
Identification No.] |
U24239MH2001PTC130654 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR10629D |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturer of
Essential Oils |
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 : |
USD 1000 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a
small company and a part of Reliance Group. Directors are reported as experienced
and respectable businessmen. Trade relations are reported as fair. Business
is active. Payments are 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 : |
2nd
Floor, Chitrakootshree Ram Mills Premises, Ganpatrao Kadam Marg, Worli,
Mumbai – 400013 |
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Tel. No.: |
91-22-30346000 |
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Email : |
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Website : |
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Office : |
Dhirubhai Ambani
Life Science Centre, R – 282 TTC Area of MIDC, Thance Belapur Road, Rabale,
Navi Mumbai – 400701 |
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Tel. No.: |
91-22-39118000 |
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Fax No.: |
91-22-39118099 |
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Office : |
3rd Floor Sadhana House, Behind Mahindra Towers 570, Pandurang Bhudkar Marg Worli, Mumbai 400018 |
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Factory : |
1st Floor, Sadhana Millls Premises, 570,
Pandurang Budhkar Marg, Mumbai - 400 018 |
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Tel. No.: |
91-9323277350 |
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Branches : |
Located at :
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DIRECTORS
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Name : |
Mr. Vinay Ranade |
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Designation : |
Director |
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Address : |
C – 402, ICICI
Apartment, Lallubhai Park Road, Andheri (West), Mumbai – 400058 |
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Date of Birth/Age : |
12.03.1967 |
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Date of Appointment : |
07.04.2003 |
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Name : |
Mr. Subramaniam K
V |
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Designation : |
Director |
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Address : |
C – 1602,
Chaitanya Tower, S Appasahes Marathe Marg, Prabhadevi, Mumbai – 400015 |
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Date of Birth/Age : |
27.11.1957 |
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Date of Appointment : |
07.04.2003 |
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Name : |
Mr. Firuza Rajesh
Parikh |
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Designation : |
Director |
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Address : |
122 Jolly Maker –
118, Cuffe Parade, Mumbai – 400005 |
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Date of Birth/Age : |
27.05.1956 |
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Date of Appointment : |
15.03.2001 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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M/s. Reliance Health
and Technology Private Limited |
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1700 |
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M/s. Reliance
Clinical Research Services Private Limited
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1700 |
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M/s. Healthcare
Systems and Solution Global Private Limited
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1600 |
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M/s. Jamnagar
Farms Private Limited |
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1600 |
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M/s. Reliance
Agrotech Private Limited |
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1700 |
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M/s. Reliance
Research and Development Services Private Limited |
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1700 |
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M/s. Greymatter
Innovations private Limited |
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1700 |
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M/s. Reno Optical
Communication Private Limited |
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1700 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of
Essential Oils |
GENERAL
INFORMATION
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Supplier |
Kleanzone Systems
Private Limited |
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Bankers : |
Not Available |
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Facilities : |
-- |
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Banking Relations : |
Satisfactory |
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Auditors : |
Pathak &
Associates Chartered
Accountant |
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Address: |
709, Tulsiani
Chambers, 212 Nariman Point, Mumbai – 400021 |
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Tel. No.: |
91-22-56308508 |
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Associates/Subsidiaries : |
Reliance Clinical Research Services Reliance Research and Development Services |
CAPITAL STRUCTURE
AS ON 31.03.2006
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15,010,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 150.100 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6,135,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 61.350 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2003 |
31.03.2002 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.256 |
0.144 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.356 |
0.244 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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221.800 |
67.800 |
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TOTAL BORROWING |
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221.800 |
67.800 |
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DEFERRED TAX LIABILITIES |
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0.163 |
0.000 |
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TOTAL |
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222.319 |
68.044 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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60.195 |
25.560 |
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Capital work-in-progress |
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7.653 |
0.839 |
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INVESTMENT |
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0.102 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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3.024 |
0.494 |
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Sundry Debtors |
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0.411 |
0.366 |
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Cash & Bank Balances |
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0.968 |
15.244 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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1.993 |
2.898 |
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Total Current Assets |
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6.396 |
19.002 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities & Provisions |
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17.143 |
60.924 |
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Total Current Liabilities |
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17.143 |
60.924 |
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Net Current Assets |
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(10.747) |
(41.922) |
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MISCELLANEOUS EXPENSES |
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165.116 |
83.567 |
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TOTAL |
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222.319 |
68.044 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2003 |
31.03.2002 |
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Sales Turnover [including other income] |
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12.200 |
4.843 |
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Profit/(Loss)
Before Tax |
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0.299 |
0.157 |
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Provision for
Taxation |
|
0.131 |
0.013 |
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Profit/(Loss)
After Tax |
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0.168 |
0.144 |
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Import Value |
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26.827 |
16.508 |
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Total Expenditure |
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12.187 |
4.686 |
KEY RATIOS
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PARTICULARS |
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31.03.2003 |
31.03.2002 |
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PAT / Total Income |
(%) |
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1.37 |
2.97 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.45 |
3.24 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.44 |
0.35 |
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Return on Investment (ROI) (PBT/Networth) |
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0.83 |
0.64 |
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Debt Equity Ratio (Total Liability/Networth) |
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671.18 |
527.55 |
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Current Ratio (Current Asset/Current Liability) |
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0.37 |
0.31 |
LOCAL AGENCY
FURTHER INFORMATION
Director report
During the period
under report the company has earned a net profit of Rs. 0.168 Millions as against that of Rs. 0.144 Millions in
last year.
During the period
under report the company has launched advanced molecular diazotised and
genetics testing services on commercial basis. The company continued in the
fiad of medicon, plant and industrial biotechnology
The company is also
in process of carrying out limited clinican trains on some of its product for
launching them in the near future
Fixed Assets
v
Plant &
Machinery
v
Office
Equipment
v
Furniture
& Fixture
v
Data
Processing Equipment
AS PER WEBSITE DETAILS
CELL BIOLOGY
The Cell Biology initiative of Reliance Life Sciences is the first of its
kind in Asia. This initiative is uniquely integrated – both horizontally,
across several cell biology disciplines, and vertically, from repository
infrastructure through basic and applied research to the clinical environment.
The Cell Biology initiative has several groups working in the areas of
assisted reproduction, embryonic stem cells, ocular stem cells, haematopoietic
stem cells and skin and tissue engineering.
The initiative has adjunct groups in molecular diagnostics and genetics.
Reliance Life Sciences also manages a stem cell enriched cord blood
repository
THERAPEUTIC
PROTEINS
The therapeutic proteins initiative focuses on the development of
natural and recombinant proteins, humanized monoclonal antibodies, novel protein
therapies and gene therapy protocols.
VACCINES
Vaccine research program is focused on developing Dendritic Cell based
vaccines against cancer and chronic infections and also identifying novel
immunoadjuvants and delivery systems for enhancing vaccine efficacy.
PLANT AGRONOMY
Jamnagar Farms Private Limited [an associate company of Reliance Group],
on behalf of Reliance Life Sciences, manages about 130 acres plantation for
medicinal and aromatic plants, at Jamnagar in India. The plantation covers such
species as Aloe Vera, Patchouli, Geranium and Ashwagandha.
In addition, an area of 400 acres is being developed by Reliance Life
Sciences for the cultivation of Medicinal and Aromatic Plants at Kakinada in
Andhra Pradesh, India.
PLANT TISSUE CULTURE
Reliance Life Sciences operates a plant tissue culture facility at
Jamnagar, India with a capacity of 2.5 million plants per annum. This facility
produces medicinal, aromatic, horticulture, floriculture and landscaping
plants.
Reliance Life Sciences has a new plant tissue culture facility in
Navi Mumbai, India with a capacity of 5 million plants per annum.
The Plant Tissue Culture group is involved in development of new
protocols for micro propagation as well as commercial propagation of various
plants for domestic and export markets.
METABOLIC ENGINEERING – RESEARCH
Increasing secondary metabolite yield by cloning related genes for rate
limiting enzymes
Large-scale production of metabolites through hairy root cultures
Production of commercially useful proteins and industrial compounds
Tissue specific expression and chloroplast transformation for high-level
expression of desired compounds
EXTRACTION
Reliance Life Sciences operates a pilot scale extraction plant at Jamnagar
to produce aloe vera spray dried powder and patchouli oil.
INDUSTRIAL BIOTECHNOLOGY - RESEARCH AREA
Development of Polylactic Acid (PLA)
Development of PLA - Polyglycolic Acid (PGA) Copolymers
Bioethanol from bagasse
Biodiesel
Hyaluronic Acid
Reliance Life Sciences works in association with the Research and
Development centre at Indian Petrochemicals Corporation Limited, Baroda, India,
in the area of biopolymers.
MEDICAL BIOTECHNOLOGY
A quick acting surgical fibrin sealant, with hemostatic sealing and
adhesive properties, derived from human blood plasma. Reliseal mimics the final
stage of the natural clotting mechanism. The kit is available in 1 ml pack
size.
Human normal albumin
Plasma Volume expander available in 20% , 5% concentrations in 100 ml
and 50 ml pack sizes.
Normal immunoglobulin for intravenous use.
Predominantly, an Immune substituting agent available in 5%
concentrations in 100 ml and 50 ml pack sizes.
Stem cell enriched cord blood for patients suffering from blood related disorders.
There are two programs operating under this service, ReliCord S (sibling donor
program) and ReliCord A (allogenic voluntary donor program).
The sibling donor program involves storing the cord blood from sibling
of patients, while the voluntary donor program involves storing cord blood
collected from an unrelated voluntary donor mother.
A range of Molecular diagnostic and Genetic testing services for the
diagnosis of several infectious diseases and genetic disorders. The techniques
offered in Molecular diagnostics include Real time PCR, Sequencing, HLA typing,
while in Genetic testing the techniques offered are FISH and Karyotyping.
A center for Assisted Reproduction, Endoscopy and fetal medicine
PLANT BIOTECHNOLOGY
A 200x aloe vera spray dried powder for cosmeceutical and nutraceuticals
applications. Also available in other strengths
SOFTWARE PRODUCTS
A software application to manage the logistics of a clinical or research
project.
Reliance Life Sciences currently offers products and services in the
domains of medical biotechnology and plant biotechnology. The range of products
and services are constantly being expanded. Reliance Life Sciences encourages
you to regularly visit this section to learn of what is on offer in the market
place.
RESEARCH FACILITIES
State-of-the-art laboratories for research in the area of embryonic stem
cells, ocular stem cells, haematopoietic stem cells, skin and tissue
engineering, molecular diagnostics, molecular genetics, blood plasma proteins,
recombinant therapeutic proteins, monoclonal antibodies, plant tissue culture,
metabolic engineering, biopolymers, biofuels and biochemicals.
Reliance Clinical Research Services
Reliance Clinical Research Services (RCRS) is a full service clinical
research organisation providing clinical research and medical services for the
life sciences initiative as well as for third party clients in the
pharmaceutical, biotechnology, medical device, nutraceutical and cosmaceutical
sectors.
Reliance Research and Development Services
Reliance Research and Development Services (RRDS) is an integrated drug
discovery research and development service provider, which offers a broad suite
of services of interest to pharmaceutical, biotechnology and agrochemical
organizations.
RRDS has capabilities to address the needs of clients in Phytochemistry,
Medicinal Chemistry, Molecular Biology, Formulations Development, Drug Delivery
Systems, Informatics, Pre-clinical Studies on small animals, Bioprocess
Development, Contract manufacture of biopharmaceuticals, and Contract
manufacture of small molecules.
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.39.56 |
|
UK Pound |
1 |
Rs.81.39 |
|
Euro |
1 |
Rs.58.04 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
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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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
|