MIRA
INFORM REPORT
|
Report Date : |
20.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
KOPRAN
LABORATORIES LIMITED |
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Registered Office : |
Parijat
House, 4th Floor, 1076, Dr. E. Moses Road, Worli, Mumbai -
400 018, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
12.08.1986 |
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Com. Reg. No.: |
11-40602 |
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CIN No.: [Company
Identification No.] |
U24230MH1986GAP040602 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK05980C |
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PAN No.: [Permanent
Account No.] |
AAACK3199F |
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Legal Form : |
A
closely held public limited liability company. |
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Line of Business : |
Manufacturer
of Medical Equipments and Reagents. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
10000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a well-established and reputed company having satisfactory track.
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 normal for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
Parijat
House, 4th Floor, 1076, Dr. E. Moses Road, Worli, Mumbai -
400 018, Maharashtra, India |
|
Tel. No.: |
91-22-2494
0656 / 5662 7000 |
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Fax No.: |
91-22-2495
0363 / 2490 2521 |
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E-Mail : |
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Website : |
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Branches
: |
R 248,
1st Floor, New Rajinder Nagar, New Delhi – 110060 Tel
No. 91-11-28745944 Fax No
: 91-11-25720512 Email
: koprandas@vsnl.com 60 B,
Chowringhee Road, 4th Floor, Kolkata – 700020, India Tel
No. : 91-33-22832072 / 22832077 / 22890742 Fax
No. : 91-33-22832078 Email
: kapran@vsnl.com |
DIRECTORS
|
Name : |
Mr.
Sanjay S. Parikh |
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Designation : |
Director
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Address : |
1 A,
Jeevan Asha, 60 A Poddar Road, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
02.10.1963 |
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Date of Appointment : |
05.06.1992 |
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Name : |
Mr.
Gopaldas Mantri |
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Designation : |
Director
|
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Address : |
Parijat
House, 4th Floor, 1076, Dr. E. Moses Road, Worli, Mumbai -
400 018, Maharashtra, India |
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Date of Birth/Age : |
30.11.1941 |
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Date of Appointment : |
20.04.1993 |
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Name : |
Mr.
Balkrishan Singhi |
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Designation : |
Director
|
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Address : |
10/161
Kamal Park, Veer Savarkar Marg, Dadar, Mumbai – 400016, Maharashtra, India |
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Date of Birth/Age : |
05.05.1927 |
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Date of Appointment : |
26.04.1993 |
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Name : |
Mr.
Adarsh R. Sdmani |
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Designation : |
Director
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Address : |
Shreeniketan
86A, Netaji Subhas Road, Marine Drive Mumbai – 400002, Maharashtra, India |
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Date of Birth/Age : |
20.04.1974 |
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Date of Appointment : |
20.10.2004 |
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Name : |
Mr.
Varun S. Somani |
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Designation : |
Director
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Address : |
Shreeniketan
86A, Netaji Subhas Road, Marine Drive Mumbai – 400002, Maharashtra, India |
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Date of Birth/Age : |
27.09.1982 |
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Date of Appointment : |
21.07.2005 |
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Name : |
Mr.
Vikram N. Parekh |
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Designation : |
Director
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Address : |
1-A,
Cosmopolis, 21 LD. Ruparel Marg, Malabar Hill, Mumbai – 400006, Maharashtra,
India |
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Date of Birth/Age : |
10.10.1949 |
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Date of Appointment : |
21.07.2005 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Mr.
Adarsh R. Sdmani |
|
3220 |
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Ms.
Vandana Somani |
|
3210 |
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Mr. Suhrid
S. Somani |
|
2150 |
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Ms.
Sarla S. parekh |
|
1420 |
|
Debonair
Publication Limited |
|
8000 |
|
Claridge
Investments Limited |
|
8000 |
|
National
Cotton Product Private Limited |
|
8000 |
|
Kopran
Research Laboratories Limited |
|
8000 |
|
Bottle
Closure India Private Limited |
|
8000 |
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Total |
|
50000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
of Medical Equipments and Reagents. |
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Products : |
Medical
Equipments and Reagents |
GENERAL
INFORMATION
|
Bankers : |
Oriental
Bank of Commerce Fort
Branch, Jash Chambers, Sir P. M. Road, Mumbai – 400001, Maharashtra, India |
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Facilities : |
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Banking Relations : |
Satisfactory
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Auditors : |
Khandelwal
Jain and Company Chartered
Accountants 12-B,
Baldata Bhavan, 5th Floor, 117, M. Karve Road, Churchgate, Mumbai
– 400020, Maharashtra, India Tel.
No.: 91-22-22033655
/ 6 / 7 / 22062151 Fax
No.: 91-22-22063402 E-Mail
: kjco@vsnl.com Website
: http://www.kjco.net 6-B,
Pil Court [Formerly Known as Sherbanoo], 6th Floor, 111 M. Karve
Road, Churchgate, Mumbai – 400020, Maharashtra, India Tel.
No.: 91-22-56385000 Fax
No.: 91-22-56348482 |
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Associates : |
Smyle Health Care
Division :
Kampala
Pharmaceutical Industries (1996) Limited Globalpharma
Company LCC, Dubai, UAE Manufacturing Facility: |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
50000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.500 Millions |
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Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
50000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.500 Millions |
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FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
0.500 |
0.100 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
1.470 |
0.091 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
1.970 |
0.191 |
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LOAN FUNDS |
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1] Secured Loans |
|
2.334 |
0.376 |
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2] Unsecured Loans |
|
16.006 |
0.000 |
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TOTAL BORROWING |
|
18.340 |
0.376 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
|
20.310 |
0.567 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
5.538 |
0.504 |
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Capital work-in-progress |
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INVESTMENT |
|
0.723 |
0.723 |
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DEFERREX TAX ASSETS |
|
0.379 |
0.549 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
6.240 |
11.274 |
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Sundry Debtors |
|
21.088 |
14.902 |
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Cash & Bank Balances |
|
5.494 |
0.964 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
4.213 |
5.967 |
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Total Current Assets |
|
37.035 |
33.107 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
|
20.820 |
34.260 |
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Provisions |
|
2.545 |
0.056 |
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Total Current Liabilities |
|
23.365 |
34.316 |
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Net Current Assets |
|
13.670 |
[1.209] |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
|
20.310 |
0.567 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
37.569 |
30.455 |
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Profit/(Loss)
Before Tax |
|
2.248 |
1.053 |
|
Provision
for Taxation |
|
0.869 |
0.482 |
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Profit/(Loss)
After Tax |
|
1.379 |
0.571 |
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Export
Value |
|
4.361 |
2.930 |
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Import
Value |
|
10.798 |
6.145 |
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Total
Expenditure |
|
35.321 |
29.402 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
3.67 |
1.87 |
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Net
Profit Margin (PBT/Sales) |
(%) |
|
5.98 |
3.46 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
5.28 |
3.13 |
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Return
on Investment (ROI) (PBT/Networth) |
|
|
1.14 |
5.51 |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
|
21.17 |
181.63 |
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Current
Ratio (Current
Asset/Current Liability) |
|
|
1.59 |
0.96 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets
- Diagnostic Equipment
- Computer
- Motor car
- Office Equipments
Operations
In the
year 2004-05 the company has performed significantly better in comparison to
2003-04, resulting in a turnover of Rs. 37.500 Millions as against the previous
year turnover of Rs. 30.400 Millions. The company has earned a Profit before
Tac of Rs. 2.248 Millions in 2004-05 as against Rs. 105.300 Millions the previous
year.
During
the year 2004-05 the company has very aggressive marketed the products Olympus,
Japan and has been successful in placing a verity of reagents to their existing
customer base. Apart from the government tenders and the private customer sales,
the company has added a new dimension of reagent rental to the business
operations.
In the
coming year, the company will grow further. The company is keen to market
products in different filed and is ready to earn into business opportunities
with other manufacturers. The company will try ro work out easier payment
option for customers that will lead to more volumes in business and higher
turnover. The company will give emphasis to the reagent business that will
ensure steady revenue and better volumes to the business.
|
Corporate
identity number of the company |
U24230MH1986GAP040602 |
|
Name
of the company |
KOPRAN
LABORATORIES LIMITED |
|
Address
of the registered office or of the principal place of business in India of the company |
Parijat
House, 4th Floor, 1076, Dr. E. Moses Road, Worli, Mumbai -
400 018, Maharashtra |
|
This
form is for |
Modification
of charge |
|
Type
of charge |
Hypothecation
|
|
Particular
of charge holder |
Oriental
Bank of Commerce Fort
Branch, Jash Chambers, Sir P. M. Road, Mumbai – 400001, Maharashtra, India |
|
Amount
secured by the charge |
Rs.
20.000 Millions |
|
Brief
of the principal terms an conditions and extent and operation of the charge |
Rate
of Interest PLR + 3.00 p.a. subject to change, margin stock 25 %, Book Debts
40 %, other Terms and conditions same as per the agreement attached and as
per Bank’s sanction letter. |
|
Description
of the property charged indicating whether it is a charged on |
Stock
in trade Plant
and Machinery Book
debts |
|
Particulars
of the property charged |
First
charge and hypothecation of Stock, Book debts and medical equipments of the
Borrower Company |
|
Charge
identification number of the charge to be modified |
80008560 |
|
Brief
description of the instrument modifying the charge under section 135 |
Supplemental
agreement to secure credit / loan facilities by way of first modification |
|
Date
of instrument Creating the charge |
21.07.2006 |
|
Particulars
of the present modification |
Total
banking limits enhanced to Rs. 35.000 Millions |
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.44.28 |
|
UK
Pound |
1 |
Rs.86.64 |
|
Euro |
1 |
Rs.58.10 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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/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 |
|