MIRA
INFORM REPORT
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Report Date : |
14.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
SUPRA PHARMACEUTICALS PRIVATE LIMITED |
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Registered Office : |
AVM Towers, Opposite, KPHB , Kukatpally , Hyderabad – 500 072, Andhra
Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
17.01.1997 |
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Com. Reg. No.: |
1-26209 |
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CIN No.: [Company
Identification No.] |
U24230AP1997PTC026209 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDS03876F |
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PAN No.: [Permanent
Account No.] |
AAECS6921R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of all types Drugs, Formulations, Ayurvedic and
Herbal medicines. |
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/normal. |
Small |
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Maximum Credit Limit : |
USD 13900 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track. Company’s
profitability is under severe pressure. Payments are reported as slow but
correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
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LOCATIONS
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Registered Office : |
AVM Towers, Opposite, KPHB , Kukatpally , Hyderabad – 500 072, Andhra
Pradesh, India |
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Head Office : |
No. 201. Plot No. 6, PKR Complex, 1st Road, 1st
Phase, KPHB Colony, Kukatpally , Hyderabad – 500 072, Andhra Pradesh, India |
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Tel. No.: |
91-22-4023052372 |
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E-Mail : |
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Administrative Office: |
Orchid Towers, Bollaram Hyderabad – 502 325, Andhra Pradesh, India |
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Tel. No.: |
91-8458-279589 |
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Corporate Office : |
Yeluri Formulation Private Limited, 3rd Floor, PKR Complex,
1st Phase, Road, No. 1,
KPHB Colony, Kukatpally, Hyderabad – 500 072, India |
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Tel. No.: |
91-40-23150760 |
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Fax No.: |
91-40-23052419 / 40063828 |
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E-Mail : |
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Factory / Plant : |
Sy No. 296/7/6, IDA Bollaram , Medak District – 502 325, Andhra Pradesh,
India |
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Tel. No.: |
91-8458-279589 |
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Fax No.: |
91-8458-279354 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Eluri Nageswara Rao |
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Designation : |
Director |
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Date of Birth/Age : |
10.04.1965 |
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Date of Appointment : |
17.01.1997 |
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Name : |
Mrs. E Sridevi |
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Designation : |
Director |
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Date of Birth/Age : |
03.08.1972 |
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Date of Appointment : |
17.01.1997 |
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Name : |
Mr. Y Hari Prasad |
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Designation : |
Director |
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Date of Birth/Age : |
30.07.1981 |
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Date of Appointment : |
30.10.2003 |
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Name : |
Mr. Y Surya Pallesrao |
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Designation : |
Director |
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Date of Birth/Age : |
07.03.1951 |
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Date of Appointment : |
01.01.1999 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Eluri Nageswara Rao |
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183810 |
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Mrs. E Sridevi |
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55010 |
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Mr. Y Hari Prasad |
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77000 |
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Mr. Y Surya Prakasarao |
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26200 |
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Total |
342020 |
Equity Shares Breakup (Percentage of Total Equity):
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Sr No. |
Category |
Percentage |
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1 |
Director or relatives of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of all types Drugs, Formulations, Ayurvedic
and Herbal medicines. |
GENERAL
INFORMATION
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Bankers : |
Union Bank Of India SSI Branch,
Ameerpet, Hyderabad – 500 016, India |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
B Narsingh Rao and Company Chartered Accountants |
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Address : |
610, 6th Floor, Babu Khan Estate, Basheer Bagh, Hyderabad –
500 001, Andhra Pradesh, India |
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Associates/Subsidiaries : |
· Sherrington Pharmaceuticals · Yeluri Formulations Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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342020 |
Equity shares |
Rs. 10/- each |
Rs. 3.420 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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342020 |
Equity shares |
Rs. 10/- each |
Rs. 3.420 millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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3.420 |
3.420 |
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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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0.000 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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3.420 |
3.420 |
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LOAN FUNDS |
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1] Secured Loans |
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5.291 |
6.174 |
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2] Unsecured Loans |
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6.552 |
5.953 |
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TOTAL BORROWING |
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11.843 |
12.127 |
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DEFERRED TAX LIABILITIES |
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0.579 |
0.737 |
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STATE SUBSIDY |
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2.000 |
2.000 |
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TOTAL |
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17.842 |
18.284 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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6.340 |
7.226 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
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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3.012 |
3.264 |
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Sundry Debtors |
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4.102 |
4.215 |
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Cash & Bank Balances |
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0.484 |
0.157 |
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Other Current Assets |
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0.909 |
1.036 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
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8.507 |
8.672 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.105 |
1.123 |
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Provisions |
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0.299 |
0.553 |
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Total
Current Liabilities |
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1.404 |
1.676 |
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Net Current Assets |
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7.103 |
6.996 |
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MISCELLANEOUS EXPENSES |
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4.399 |
4.062 |
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TOTAL |
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17.842 |
18.284 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.53 |
4.03 |
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Current Ratio (Current Asset/Current Liability) |
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6.05 |
5.17 |
LOCAL AGENCY
FURTHER INFORMATION
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Name of the
company |
SUPRA PHARMACEUTICALS PRIVATE LIMITED |
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Presented
By |
Mr. Nageswara
Rao , Managing Director |
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1) Date and description
of instrument creating the change |
Hypothecation
(goods) agreement dated 28.07.2000 Agreement for
hypothecation of book debts dated 28.07.2000 Letter No. AFC /
RCP/ 2000-01/846 dated 20.07.2000 from APSEC second charge |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 2.500
millions |
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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 |
Hypothecation of stocks
of Raw materials, work in progress, finished goods, stores and spares at
factory premises. Hypothecation of
book debts not older than 90 days. First charge on
entire current assets of the company. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest payable at 15.50% p.a , Margin
25% on stocks, 50% on book debts, Repayable on demand. |
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5) Name and
Address and description of the person entitled to the charge. |
Union Bank Of India SSI Branch, Ameerpet, Hyderabad – 500 016,
India |
OTHER INFORMATION:
Subject is a sister concern of Yeluri
Formulations Private Limited.
WEBSITE DETAILS:
YELURI FORMULATIONS PRIVATE LIMITED is a high-tech pharmaceutical
plant ideally located in the fastest-growing, world famous L.T. City of
Hyderabad which is well connected by air-road. It ensures timely deliveries to
country's important destination, but also minimises distribution expenditure.
Right from its inception, the company endeavoured to enhance the quality
of life, by innovating,breaking new ground, exploring the world’s most advanced
technologies to produce the quality pharma products.
The company is financially stable; it has proven leadership having 25
years of pharma-
ceutical manufacturing and marketing experience. The resounding success of
Sherring-
ton Pharmaceuticals and Supra Pharmaceuticals which are sister concerns,
encouraged the board of directors to promote YELURI and SUPRA- two mega
pharmaceutical plants.
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 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] 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.35 |
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UK Pound |
1 |
Rs. 80.36 |
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Euro |
1 |
Rs. 57.62 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
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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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29 |
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
unfavourable 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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
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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