MIRA
INFORM REPORT
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Report Date : |
21.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
S ZHAVERI PHARMAKEM PRIVATE LIMITED (w. e. f. 06.06.2005) |
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Formerly Known As : |
S ZHAVERI AND COMPANY |
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Registered Office : |
109, Shiv Smruti Chambers,49, Dr. Annie Besant Road, Worli, Mumbai - 400018, India |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
06.06.2005 |
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Com. Reg. No.: |
153790 |
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CIN No.: [Company
Identification No.] |
U51397MH2005PTC153790 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS48413B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject act as an indenting house engaged in marketing of pharmaceutical raw materials from foreign manufacturers to multinational/ Indian Pharma/ Chemical factories and is also engaged in contract research. |
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 |
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Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 4400 |
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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 company in its field. Directors are reported as experienced, respectable and having satisfactory means of their own. Their trade relations are fair. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
109, Shiv Smruti Chambers, 49, Dr. A.B.Road, Worli, Mumbai 400 018, India |
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Tel. No.: |
91-22-66607756 |
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Fax No.: |
91-22-66607758 |
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E-Mail : |
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Website : |
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Area : |
377 Sq.ft. built up area |
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Location : |
Owned |
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Head Office : |
E-7, Kasturi Complex, Anjur Road, Rahanat Village, Bhiwandi – 421 302, District Thane, Maharashtra, India |
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E-Mail : |
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Website : |
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Factory : |
28/16, TTC Industrial Area, MIDC Turbhe, Navi Mumbai – 400705 |
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Tel. No.: |
91-22-67912851 / 67912852 |
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Fax No.: |
91-22-67912853 |
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Location : |
Leased |
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Warehouse: |
32, Kewal Industrial Estate, S.B.Marg, Lower Parel, Mumbai 400 018, India |
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Location : |
Rented |
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Branches : |
236, Kewal Industrial Estate, S.B.Marg, Lower Parel, Mumbai 400 018, India |
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Area : |
1000 Sq.ft. |
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Location : |
Rented |
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Administration Office: |
45, Tardeo Air Condition Market, Mumbai 400 018, India |
DIRECTORS
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Name : |
Mr. Vinodchandra B. Seth |
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Designation : |
Director |
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Qualification : |
B.Sc Chemistry |
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Name : |
Mrs. Nalini V. Seth |
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Designation : |
Non-Executive Director |
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Date of Birth/Age : |
78 years |
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Qualification : |
Graduate |
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Experience : |
45 years |
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Name : |
Mrs. Uma Rajan Jhaveri |
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Designation : |
Managing Director and Chairman |
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Address: |
1002, Jayant Towers, Tardeo Road, Tardeo, Mumbai - 400034 |
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Date of Birth/Age : |
50 years |
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Qualification : |
B.Com |
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Experience : |
26 years |
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Name : |
Ms. Saloni Rajen Jhaveri |
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Designation : |
Non-Executive Director |
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Address: |
1002, Jayant Towers, Tardeo Road, Tardeo, Mumbai - 400034 |
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Date of Birth/Age : |
23 years |
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Qualification : |
Post Graduate |
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Experience : |
2 years |
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Name : |
Ms. Suhagi Rajen Jhaveri |
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Designation : |
Executive Director |
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Address: |
1002, Jayant Towers, Tardeo Road, Tardeo, Mumbai - 400034 |
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Date of Birth/Age : |
25 years |
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Qualification : |
Post Graduate |
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Experience : |
2 years |
KEY EXECUTIVES
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Name : |
Mr. Vinod B. Seth |
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Designation : |
Chief Executive Officer |
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Age : |
78 Years |
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Qualification : |
B.Sc. Chemistry |
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Experience : |
54 Years |
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Previous Employment: |
Self Employed |
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Name : |
Mr. Vikas B. Mehta |
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Designation : |
Manager – Sourcing |
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Mobile No.: |
91-9867522653 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Mrs. Uma Rajan
Jhaveri |
40000 |
66.666 |
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Ms Suhagi Jhaveri |
10000 |
16.66 |
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Ms Saloni Jhaveri |
10000 |
16.66 |
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Total |
60000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The concern act as indenting house engaged in marketing of pharmaceutical raw materials from foreign manufacturers to multinational/ Indian Pharma/ Chemical factories and is also engaged in contract research. |
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Products : |
Fudrajit – Roehm – Gmbh, Vivapur – Jrs, Triethyl Citrate – Vertellus- USA, Colors – Sensient Colors UK |
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Agencies Held : |
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Imports from : |
Germany, USA, U.K., Europe, China and Japan |
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Terms : |
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Purchasing : |
D/A or D/P, Credit : 90 days |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
Manufacturer and Actual Users |
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No. of Employees : |
43 |
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Bankers : |
Grindlays Bank, 90, M.G.Road, Fort, Mumbai-400 001, India |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Vinay H. Panjabi and Associates Chartered Accountants |
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Address : |
Mumbai, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10.00 each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10.00 each |
Rs. 0.500 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.500 |
0.500 |
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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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0.611 |
0.611 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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1.111 |
1.111 |
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LOAN FUNDS |
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1] Secured Loans |
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46.264 |
29.021 |
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2] Unsecured Loans |
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24.560 |
25.925 |
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TOTAL BORROWING |
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70.824 |
54.946 |
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DEFERRED TAX LIABILITIES |
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0.017 |
0.000 |
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PROFIT AND LOSS ACCOUNT |
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11.290 |
2.443 |
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TOTAL |
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83.225 |
58.500 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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28.446 |
28.152 |
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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 |
0.024 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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19.320 |
20.514 |
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Sundry Debtors |
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37.954 |
19.226 |
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Cash & Bank Balances |
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13.956 |
8.659 |
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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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12.660 |
9.466 |
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Total
Current Assets |
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83.890 |
57.865 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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29.112 |
27.559 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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29.112 |
27.559 |
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Net Current Assets |
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54.778 |
30.306 |
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MISCELLANEOUS EXPENSES |
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0.001 |
0.018 |
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TOTAL |
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83.225 |
58.500 |
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PROFIT & LOSS
ACCOUNT
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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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123.449 |
78.812 |
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Other Income |
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0.000 |
0.026 |
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Total Income |
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123.449 |
78.838 |
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Profit/(Loss) Before Tax |
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11.538 |
8.012 |
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Provision for Taxation |
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2.712 |
4.832 |
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Profit/(Loss) After Tax |
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8.826 |
3.180 |
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Export Value |
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1.369 |
3.748 |
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Expenditures : |
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Purchases |
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66.764 |
54.453 |
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Bank Charges |
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0.032 |
0.048 |
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Electricity Expenses |
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0.604 |
0.239 |
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Insurance |
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0.291 |
0.337 |
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Legal Expenses |
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0.471 |
0.053 |
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Interest |
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6.054 |
3.507 |
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Depreciation |
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1.505 |
2.051 |
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Other Expenditure |
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36.190 |
10.138 |
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Total Expenditure |
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111.911 |
70.826 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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9.35 |
4.03 |
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Net Profit Margin (PBT/Sales) |
(%) |
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9.35 |
10.17 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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10.27 |
9.31 |
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Return on Investment (ROI) (PBT/Networth) |
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10.39 |
7.21 |
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Debt Equity Ratio (Total Liability/Networth) |
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89.95 |
74.26 |
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Current Ratio (Current Asset/Current Liability) |
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2.88 |
2.10 |
LOCAL AGENCY
FURTHER INFORMATION
Website details attached
Subject formerly known as S. Zhaveri and co. was
incorporated in the year 1951. An Indenting house, which represents some of the
world’s leading manufacturers of pharmaceutical raw materials and chemicals,
started marketing of pharmaceutical raw materials to Multinationals and Indian
pharmaceutical companies.
Diversification is
another aspect of success and the company followed the same principles, by
offering more products to the Pharmaceutical and cosmetics Industries under the
group company Suresel
To cater to the
needs of customers by making international products available at there doorstep
the company started the Material on the spot division. This enabled the sales
team to work in tandem with customers from various parts of India to put in
place the right products from the warehouse at Mumbai.
The company
started its Export wing to supply quality API’s from renowned Indian
manufacturers and Intermediates to the international markets.
In
the present times innovativeness, foresight and vision are the deciding factors
that govern leadership. In order to be a true leader, catering to all the
aspects of the pharmaceutical industry, the company has diversified the sphere
of activities and commissioned an independent Formulation Research and
Development centre.
During
the past 50 years, subject has become synonymous in the national and
international market for supplying quality products and services.
The SUCCESS is attributed to –
- Customer support
- Guaranteed product quality
- Professional and practical approach
- Effective management principles
- Skilled personnel
- Experience and in-depth knowledge of the pharma industry
- Rapid response
- Flexibility
- Respect of confidentiality and close collaboration with each client
In
a nutshell, subject is a name that spells TRUST, RELIABILTY and EXCELLENCE
reaching out to the New Horizons.
Sole Agents in India
AstaTech Group
Headquartered
in USA with a facility based in China, is a reputable and well-established
company. The company’s main strength lies in advanced research intermediates.
Key Chemistry Competences
- Alkylation
- Bromination
- Hydrogenation and Catalytic Hydrogenation
- Diazotization
- Enzyme Resolution
- HCN Reaction
- Heterocyclic Synthesis
- Nitration
- Protection and Deprotection of Amines
- Suzuki Coupling
- Lab scale microwave chemistry
Piperidine
Derivatives
R/S -3-Aminopiperidine.
2HCl
R/S -1-Benzyl-3-N-Boc-aminopiperidine
R/S -1-Boc-piperidine-3-carboxylic acid
R/S -1-N-Boc-3-hydroxypiperidine
R/S-1-N-Boc-piperidine-2-carboxylic acid
R/S -6-oxo-piperidine-2-carboxylic acid
1-Boc-piperidin-4-ylacetic acid
4-Piperidine acetic acid methyl ester
N-Boc-3-piperidone
N-4-Boc-aminocyclohexanone
4-(3-Bromo-phenyl)-piperidine
4-(4'-Bromophenyl)piperidine
Piperazine
Derivatives
R / S - 4-N-Boc-1-N-Cbz-2-
piperazine carboxylic acid
R / S -1-N-Boc-4- N-Cbz-2 --piperazine carboxylic acid
R / S -4-N-Boc- piperazine-2--carboxylic acid
R / S -4-N-Boc-2-methyl piperazine
[1,4]Diazepan-5-one
5-Oxo-[1,4]diazepane-1- carboxylic acid benzyl ester
Pyrrolidine
Derivatives
R / S -1-N-Boc-3-Hydroxypyrrolidine
R / S -3-Hydroxypyrrolidine HCl
R / S -1-Benzyl-3-Hydroxypyrrolidine
R / S -3-Aminopyrrolidine.2HCl
R / S -3-N-Boc-Amino pyrrolidine
R / S -1-N-Boc-belta-proline
R / S -3-Dimethylaminopyrrolidine HCl
R / S -Prolinamide
R / S -3-Phenoxy-pyrrolidine.HCl
Pyrimidine
Derivatives
2,4-Dichloro-5-fluoro-pyrimidine
2,4-Dichloro-5-Bromo-pyrimidine
2,4-Dichloro-5-nitro-pyrimidine
2,4-Dichloro-5-methyl-pyrimidine
4,6-Dichloro-2-methylsulfanyl-pyrimidine
2-Amino-4,6-dichloro-5-formyl- pyrimidine
Quinoline
Deviratives
L-1,2,3,4-Tetrahydroisoquinoline-3-carboxylic acid
6-Bromo-1,2,3,4-tetrahydro-quinoline- 2-carboxylic acid methyl ester
8-benzyloxy-5-(2-bromoacetyl)- 1H-quinolin-2-one
(S)-1,2,3,4-Tetrahydro-6,7- dimethoxyisoquinoline-3- carboxylic acid benzyl
ester
6-Amino-2-N-Boc-1,2,3,4- tetrahydro-isoquinoline
6,7-Dihydro-5H-quinolin-8-one
1-Chloroisoquinoline
1-chloro-3-mehtylisoquinoline
2-chloro-3-methylquinoline
Azetidine Derivatives
1-N-Boc-3-cyano-azetidine
3-N-Boc-amino-azetidine
1-Boc-azetidine-3-carboxylic aci
Indole Derivatives
7-Bromoindole
7-Chloroindole
7-Fluoroindole
7-Benzyloxyindole
5-Hydroxy-1H-indole-2- carboxylic acid
5-methoxy-3-N,N-dissopropylamino- ethylindole
4-Fluoroindole
3-Chloro-7-nitro-indole
2,3,3-trimethyl-3H-benzo[g]indole
Thiazole Derivatives
2-Amino-4-methoxy-benzothiazole
Ethyl 2-amino-benzothiazole -6-carboxylate
2-Amino-thiazole-5- carboxylate ethyl ester
Chiral Amino Acids Derivatives
R / S -4-Fluorophenyl
glycine
R / S -4-Chlorophenyl glycine
R / S -alpha-Amino-omega -caprolactamanine
R / S -3-(3’-pyridyl)-belta-alanine -2-dihydro-chloride
R / S -4-Boc-morpholine-3- -carboxylic acid
R / S -2-Amino butyric acid
Phenylacetylene Derivatives
3'-Bromophenyl acetylene
4'-Chlorophenyl acetylene
3'-Chlorophenyl acetylene
Biphenyl Acids and Their Derivatives
N.N’-diphenylbenzidine
Biphenyl-3-ylamine
(E)-1,2-bis(4-bromophenyl) ethene
(4-Bromo-phenyl)-diphenyl-amine
N,N-Diphenyl-benzene-1,4-diamine
Tri (4-bromophenyl)amine
Anthranic acid derivatives
Intermediates for API
Boronic acids and Their
Derivatives
Novel multifunctional building blocks
Bulk fine chemicals
R/S-1-N-Boc-Piperidine
-2-carboxylic acid
R/S-1-N-Boc-4-Amino- piperidine-4-carboxylic acid
R/S-4-N-Boc-Piperazine-2-carboxylic acid
S-1-N-Boc-6-Oxo-piperidine -2-carboxylic acid
R-Piperidine-3-carboxylic acid ethyl ester
1,2,3,4-Tetrahydro-isoquinoline -3-carboxylic acid
R/S-(2-Chloro-phenyl)- hydroxy-acetic acid
R-2-Hydroxy-4-phenyl-butyric acid
R/S-2,6-difluorophenyl-alanine
R/S-2,5-difluorophenyl-alanine
t-Butylsulfinamide
R- t-Butylsulfinamide
S- t-Butylsulfinamide
2-cyclohexen-1-one
3-Fluoro-propylamine HCl
Di-t-butyl iminodicarboxylate
(4-Bromo-phenyl)-diphenyl-amine
1-Boc-piperidin-4-ylacetice acid
2-Amino-4,6-dichloro-5-formyl- Pyrimidine
(S)-4-Fluorophenyl Glycine (L-4-Fluorophenyl Glycine)
STOCK and SALE
They
realize the importance of timely delivery of material to customers who do not
wish to go through the formalities of imports. To meet their requirements they
supply international products from their warehouse in Mumbai, India.
Features
- 2000sq.ft warehouse
- Based on GMP standards
- FDA approved
- Based in Octroi free zone
- Contains temperature controlled systems
- Maintaining documents/ registers as per FDA and excise requirements
- Trained personnel for handling and packing material
Advantages
- Saves customers’ trouble from building inventory
- Products supplied in original supplier packing
- Regular visits to customers and follow up after material delivery
- Prompt delivery
- Caters to customers’ requirement for smaller quantities
- Prompt trouble shooting
They
wish to support and serve their customers to the best of their capacity and can
also stock material on request.
Imports and Exports
They offer quality Active Pharmaceutical Ingredients. They can cater to
your import needs of quality products from China and also Export bulk drugs
from renowned supplier from India.
Contract Research
Subject
is an integrated pharmaceutical research and development company delivering
wide range of products for the generic industry. It aims to be a leading
provider of fully integrated and cost effective pharmaceutical out-sourcing services
to the international healthcare industry.
The
R and D is not only equipped with sophisticated instruments but also manned by
highly skilled and experienced professionals. The company has a close
co-ordination with International companies for providing prompt and quality
services.
They
provide flexible pharmaceutical solutions enabling their customers to
accelerate their route to market quickly, safely and cost efficiently.
They
differentiate their capabilities from competitor companies by maintaining a
flexible, personal and responsive service to satisfy individual customer
requirements.
They offer the following
spectrum of services –
- Custom Synthesis
- Formulation Development
- Analytical Development
- Stability Studies
- Dossier Compilation
- Technology and Process Transfer
- Bioavailability studies with renowned experts and partner-CRO’s
- Finished product supplies from approved site partners
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. 39.57 |
|
UK Pound |
1 |
Rs. 78.93 |
|
Euro |
1 |
Rs. 56.85 |
SCORE & RATING
EXPLANATIONS
|
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 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/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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|