MIRA
INFORM REPORT
|
Report Date : |
28.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
HOLISTIC REMEDIES PRIVATE LIMITED |
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Registered Office : |
Anand Warehouse, 15 [4], Bombay Cotton Mills Estate, T B Kadam Marg, Kalachowky,
Mumbai 400033, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
03.04.1986 |
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Com. Reg. No.: |
11-39441 |
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CIN No.: [Company
Identification No.] |
U18101MH1986PTC039441 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMH03518E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Homeopathic, Allopathic, Biochemic and Ayurvedic
Medicines |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 60000 |
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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 and reputed company having satisfactory track
records. Profit margin is under
severe pressure. Payments are
reported as correct and as per commitments. The Company can be considered good for normal business dealing at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Anand Warehouse, 15 [4], Bombay Cotton Mills Estate, T B Kadam Marg,
Kalachowky, Mumbai 400033, Maharashtra, India |
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Tel. No.: |
91-22-3700582 / 3715385 / 3750852 |
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Fax No.: |
91-22-3744707/3634600 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Abhay Kumar Jain |
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Designation : |
Director |
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Address : |
22/88, Yashwant Nagar, Goregaon (West), Mumbai 400062, Maharashtra,
India |
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Date of Birth/Age : |
30.07.1958 |
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Date of Appointment : |
10.01.2004 |
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Name : |
Nalini Batra |
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Designation : |
Director |
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Address : |
B – 1001, Lakshchandi Apartment, Gokuldham, Goregaon (East), Mumbai
400063, Maharashtra, India |
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Date of Birth/Age : |
31.08.1949 |
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Date of Appointment : |
30.11.1989 |
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Name : |
Mr. Pranav Batra |
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Designation : |
Director |
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Address : |
B – 1001, 10th floor, Lakshchandi Apartment, Gokuldham,
Goregaon (East), Mumbai 400063, Maharashtra, India |
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Date of Birth/Age : |
20.02.1981 |
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Date of Appointment : |
14.03.2001 |
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Name : |
Hermann Geiger |
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Designation : |
Director |
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Address : |
Dufourstrasse, 117, CH ST Gallen 9000, Switzerland |
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Date of Birth/Age : |
01.02.1951 |
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Date of Appointment : |
06.12.1997 |
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Name : |
Mr. Krishan B. Patodia |
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Designation : |
Director |
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Address : |
302, Kshitij, 47, L. J. Marg, Napean Sea Road, Mumbai 400036,
Maharashtra, India |
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Date of Birth/Age : |
26.05.1945 |
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Date of Appointment : |
30.09.1987 |
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Name : |
Mr. Virendra Singh Khurana |
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Designation : |
Director |
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Address : |
202, Sunmist, Near Rizvi College, Bandra (West), Mumbai 400052,
Maharashtra, India |
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Date of Birth/Age : |
29.05.1951 |
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Date of Appointment : |
30.09.1987 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
|
Mukesh Batra |
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83850 |
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Pramod Salvi |
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9800 |
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Nalini Batra |
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421700 |
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Bioforce A. G. [Foreign Company) |
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192000 |
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J. Singn |
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5500 |
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R. Nandi |
|
1000 |
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Krishan Patodia |
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16250 |
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Equity Share Break-up |
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Percentage of
Holding |
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Foreign Holdings |
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24.00 |
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Directors or relatives of the Directors |
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74.70 |
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Other top fifty shareholders |
|
1.30 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Homeopathic, Allopathic, Biochemic and
Ayurvedic Medicines |
GENERAL INFORMATION
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No. of Employees : |
40 |
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Bankers : |
Ř
The Bombay
Mercantile Co-operative Bank Limited Girgaum Branch,
Duthpapeshwar Building, JSS Road, Mumbai 400004, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Shashank Ranade and Company Chartered Accountants |
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Address : |
3/1, Radhakrishna Niwas, Ground Floor, Dadadiwadi, S. K. Bole Road,
Mumbai 400028, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
950000 |
Equity Shares |
Rs.10/- each |
Rs.9.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
800000 |
Equity Shares |
Rs.10/- each |
Rs.8.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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8.000 |
8.000 |
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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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7.235 |
7.034 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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15.235 |
15.034 |
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LOAN FUNDS |
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1] Secured Loans |
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24.918 |
6.034 |
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2] Unsecured Loans |
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0.877 |
2.286 |
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TOTAL BORROWING |
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25.795 |
8.320 |
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DEFERRED TAX LIABILITIES |
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0.523 |
0.647 |
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TOTAL |
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41.553 |
24.001 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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14.530 |
8.940 |
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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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0.269 |
0.044 |
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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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9.992 |
9.747 |
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Sundry Debtors |
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17.332 |
14.521 |
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Cash & Bank Balances |
|
7.822 |
3.268 |
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Other Current Assets |
|
0.118 |
0.056 |
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Loans & Advances |
|
5.218 |
3.676 |
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Total
Current Assets |
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40.482 |
31.268 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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10.620 |
13.408 |
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Provisions |
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3.108 |
2.843 |
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Total
Current Liabilities |
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13.728 |
16.251 |
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Net Current Assets |
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26.754 |
15.017 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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41.553 |
24.001 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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58.879 |
57.039 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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58.879 |
57.039 |
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Profit/(Loss) Before Tax |
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0.466 |
1.000 |
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Provision for Taxation |
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-- |
-- |
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Profit/(Loss) After Tax |
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0.466 |
1.000 |
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Expenditures : |
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Interest |
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1.518 |
0.786 |
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Depreciation & Amortization |
|
1.685 |
1.205 |
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Other Expenditure |
|
55.210 |
54.047 |
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Total Expenditure |
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58.413 |
56.038 |
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KEY RATIOS
|
PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.79 |
1.75 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.79 |
1.75 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.15 |
3.19 |
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Return on Investment (ROI) (PBT/Networth) |
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0.03 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.90 |
1.08 |
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Current Ratio (Current Asset/Current Liability) |
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2.51 |
1.12 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
Bankers Charges
Report as per Registry
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This Form is for |
Creation of charge |
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Charge
identification number of the charge to be modified |
NA |
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Corporate identity
number of the company |
U18101MH1986PTC039441 |
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Name of the
company |
HOLISTIC
REMEDIES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Anand Warehouse, 15 [4], Bombay Cotton Mills Estate, T B Kadam Marg,
Kalachowky, Mumbai 400033, Maharashtra, India |
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Type of charge |
Movable property Others |
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Particular of
charge holder |
The Bombay
Mercantile Co-operative Bank Limited Girgaum Branch,
Duthpapeshwar Building, JSS Road, Mumbai 400004, Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of
hypothecation of tangible moveable property |
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Date of
instrument Creating the charge |
16.01.2007 |
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Amount secured by
the charge |
Rs.6.440 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of
Interest Interest rate, as
per the loaning agreement executed by the borrower company with the bank from
time to time. [b] Terms of
Repayment Repayment as per
the loaning agreement executed by the borrower company with the bank from
time to time. [c] Margin Margin Rate, as
per the loaning agreement executed by the borrower company with the bank from
time to time. [d] Extent and
operation of the charge At the request of
the borrower company. The Bank has
sanctioned term loan facility of Rs.6.440 Millions against hypothecation of stocks
of raw material, stock in process and also all products goods and tangible
moveable property of the Company. |
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Short particulars
of the property charged |
At the request of
the borrower company. The bank has
sanctioned term loan facility of Rs.6.440 Millions against hypothecation of
stocks of raw material, stock in process and also all products goods and
tangible moveable property of the Company. |
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Date of latest
modification prior to the present modification |
NA |
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Particulars of the
present modification |
NA |
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Name of the company |
HOLISTIC
REMEDIES PRIVATE LIMITED |
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Presented By |
Bombay Mercantile Co-operative Bank
Limited |
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1) Date and description of instrument creating the change |
04.06.1996 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.349 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 |
Machineries |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Loan secured of
the extent of Rs.0.349 Millions balance outstanding loan repayable in 35
monthly installments of Rs.0.010 Millions each |
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5) Name and Address and description of the person entitled to the charge. |
The Bombay
Mercantile Co-operative Bank Limited Girgaum Branch,
Duthpapeshwar Building, JSS Road, Mumbai 400004, Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
NA |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.43 |
|
UK Pound |
1 |
Rs.78.40 |
|
Euro |
1 |
Rs.57.22 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
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 |
YES |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
46 |
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 |
|