MIRA INFORM REPORT
|
Report
Date : |
23.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
G. AMPHRAY LABORATORIES |
|
|
|
|
Registered
Office : |
Sambhowa Chambers, 4th Floor, Sir P. M. Road,
Mumbai – 400001, Maharashtra |
|
|
|
|
Country
: |
India |
|
|
|
|
Financials
(as on) : |
31.03.2006 |
|
|
|
|
Date
of Incorporation : |
1966 |
|
|
|
|
Legal
Form : |
Sole Proprietory Concern |
|
|
|
|
Line
of Business : |
Manufacturer and Exporter of Drugs and Formulations such
as Paracetamol Tablets, Cotrimoxazole Tablets, Metronidazole Tablets, etc.,
Drug Intermediates and Packing Materials for Pharmaceuticals. |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum
Credit Limit : |
USD
800000 |
|
|
|
|
Status
: |
Good |
|
|
|
|
Payment
Behaviour : |
Regular |
|
|
|
|
Litigation
: |
Clear |
|
|
|
|
Comments
: |
Subject is a well established and reputed concern of Mr.
Ramu S. Deora, an eminent businessman and brother of Mr. Murli Deora
(Ex-member of parliament). Deora family is influential and well connected
with high level bureaucrats in the country. They have a strong rapport with
foreign pharmaceutical companies in India. Their trade relations are fair.
Payments are usually correct and as per commitments. It can be considered good for any normal business dealings
at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
4th Floor, Sambava Chambers, Sir P.M. Road,
Mumbai-400 001. INDIA. |
|
Tel.
No.: |
91-22-2266
1034 / 22663316 / 56317748 / 56317750 |
|
Mobile No.: |
91-98200 84212 / 9820911009 |
|
Fax
No.: |
91-22-2202
4657 / 2282 8181 / 56 31
44 47 |
|
E-Mail
: |
|
|
Website
: |
|
|
Area : |
2000 sq.fts. (Owned) |
|
Location : |
Commercial |
|
|
|
|
Warehouse
: |
43/2, Narpoli,
Amina Compound, Near Dhamankar Naka, Bhiwandi - 421 302, District Thane,
Maharashtra |
|
Area : |
28,000 sq.fts. |
|
|
|
|
Plant
: |
10-2,
MIDC Industrial Area, Ambernath – 421 501, District Thane |
|
Tel.
No.: |
91-251-268219 / 12 / 2682711 |
|
Area : |
20,000 sq.fts. (Owned) |
SOLE PROPRIETOR
|
Name : |
Mr. Ramu S. Deora |
|
Designation
: |
Proprietor |
|
Date
of Birth/Age : |
67 Years |
|
Other
Directorship : |
Chairman of Chemexcil,
Ex-President Federation of India, Export Organisations, Commodity Board, etc. |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturer
and Exporter of Drugs and Formulations such as Paracetamol Tablets,
Cotrimoxazole Tablets, Metronidazole Tablets, etc., Drug Intermediates and
Packing Materials for Pharmaceuticals.
|
|
|
|
|
Brand
Names : |
G. Amphray |
|
|
|
|
Exports
to : |
France, Germany, Hong Kong, Nigeria, Zaire, Sri Lanka,
Korea and Singapore |
|
|
|
|
Imports
from : |
Germany, Japan, Korea, Belgium, Holland and France |
|
|
|
|
Terms
: |
|
|
Selling : |
Contract upto 30 days, Cash and L/C |
|
|
|
|
Purchasing : |
Contract upto 30 days, Cash and L/C |
GENERAL INFORMATION
|
Suppliers
: |
²
Korea
Potosium Chemicals, Korea ²
Hoechst
Celanese Corporation, Germany ²
Kauffmann
& Company, Germany ²
Eastman
Chemicals Limited, USA ²
Chugai
Boyelli Company Limited, Japan ²
Independent
Iodine Company, Japan ²
Mitsui
Unit, Korea ²
Sunve,
China ²
BAST,
Dow |
|
|
|
|
Customers
: |
²
Clans
Huth GmbH, Germany ²
CLE
Dist. Int., France ²
Preminco
Limited, Hong Kong ²
Tong
Yang Nylon Company Limited, Korea ²
Asia
Drug & Chemicals Limited, Singapore / Thailand ²
Pfizer
Limited, India ²
IPCA
Lab. Limited, India ²
American
Pharmaceuticals, U.S.A. ²
Mallincord
Inc., U.S. A. ²
MPI
Pharmaceuticals Gmbh, Germany ²
U
Kraine Pharmaceuticals, Mosion ²
Dalho
Chemicals, Gmbh, Germany |
|
|
|
|
No. of
Employees : |
100 |
|
|
|
|
Bankers
: |
²
State
Bank of India, Overseas Branch, World Trade Centre, Cuffe Parade, Mumbai –
400 005, Maharashtra ²
Dresdnev
Bank, Humburg, Germany |
|
|
|
|
Facilities : |
The
concern enjoys credit limit of Rs. 200.000 millions & Bank Loans Rs.
20.000 millions from it’s bankers. |
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors
: |
M. L.
Bhuwania & Company Chartered
Accountants |
|
Address
: |
480,
Kalbadevi Road, Mumbai – 400 002, Maharashtra |
|
|
|
|
Associates/Subsidiaries
: |
²
Triochem
Products Limited - Manufacture
Fine Chemicals and Formulations - Annual Turnover
Rs. 145.00 millions (approximate) |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs. 200.000 millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 200.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales
Turnover |
750.000 |
400.000 |
450.000 |
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2001 |
31.03.2000 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share
Capital |
|
193.966 |
248.675 |
|
|
2] Share
Application Money |
|
0.000 |
0.000 |
|
|
3]
Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4]
(Accumulated Losses) |
|
0.000 |
0.000 |
|
NETWORTH
|
|
193.966 |
248.675 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
|
27.247 |
5.940 |
|
|
2]
Unsecured Loans |
|
1.620 |
1.620 |
|
TOTAL
BORROWING
|
|
28.867 |
7.560 |
|
|
DEFERRED
TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
|
222.833 |
256.235 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
|
4.635 |
4.789 |
|
Capital work-in-progress
|
|
0.000 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
|
0.000 |
0.000 |
|
DEFERREX TAX ASSETS
|
|
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
|
98.264 |
43.812 |
|
|
Sundry Debtors
|
|
72.137 |
29.363 |
|
|
Cash & Bank Balances
|
|
30.232 |
176.630 |
|
|
Other Current Assets
|
|
14.488 |
6.189 |
|
|
Loans & Advances
|
|
6.076 |
6.657 |
Total Current Assets
|
|
221.197 |
262.651 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities & Provisions
|
|
2.999 |
11.205 |
Total Current Liabilities
|
|
2.999 |
11.205 |
|
Net
Current Assets
|
|
218.198 |
251.446 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
|
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
|
222.833 |
256.235 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2001 |
31.03.2000 |
Sales Turnover [including other income]
|
|
245.804 |
164.804 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
|
47.744 |
40.841 |
Provision for Taxation
|
|
0.000 |
0.000 |
Profit/(Loss) After Tax
|
|
47.744 |
40.841 |
|
|
|
|
|
Total Expenditure
|
|
199.012 |
102.171 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2001 |
31.03.2000 |
PAT / Total Income
|
(%)
|
|
19.42 |
24.78 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
|
19.42 |
24.78 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
|
21.14 |
15.27 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
|
0.24 |
0.16 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
|
0.16 |
0.07 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
|
73.75 |
23.44 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
Subject was established in 1966 by setting up a modest
multipurpose bulk pharmaceuticals factory at Bhiwandi near Mumbai. In 1979, it set up Unit No. 2, a speciality
plant to manufacture Paracetamol at Ambernath near Mumbai. In 1982, Unit No. 3, a Tablet manufacturing
facility was set up at Ambernath. In
1984, it set up Unit No. 4, a multipurpose plant at Ambernath to manufacture
various bulk pharmaceuticals.
Subject is the first concern from India to have started
warehousing facility and office in Hamburg, Germany.
BUSINESS:
Subject is engaged in manufacturing and exporting of drugs
and formulations such as paracetamol tablets, cotrimoxazole tablets,
metronidazole tablets, etc., drug intermediates and packing materials for
pharmaceuticals.
Subject is Government Recognised Golden Star Export House.
The concern’s products range include:
Sodium Citrate, Sulphamethoxazole, Trimethoprim, Diethyl
Carbamazine Citrate, Potassium Iodide, Clioquinol, Piperazine Citrate,
Isonaizid, Director-Iodohydroxy Quinoline, Piperazine Adipate, Chloramphenicol, Niacinamide,
Phthalysulphathiazole, Potassium Citrate, Iodochlorohydroxyquinoline IP, IP
Sodium Bromide IP, Busmuth Subnitrate BPC,
Biodohydroxyquinoline IP, Bismuth Subcarbonate BPC, Disodium Hydrogen
Citrate, PB Ferric Ammonium Citrate IP, Potassium Bromide IP, Sodium Citrate,
Thiaceta Zone BPC Paracetamol IP, etc.
Pharmaceutical products include :
|
Anti Viral Drugs |
Acyclovir,
Ganciclovir, Lamivudine, Zuduvidine |
|
Osteophorosis |
Alendronate
Sodium, Lamotrigine |
|
Diuretic |
Allopurinol |
|
Anxiety |
Alprazolam |
|
Cardiovascular |
Amilopine,
Diltiazem, Dobutamine, Doxizocin, Enalapril, Lisinopril, Losartan Potassium,
Methyl Dopa, Ramipril, Sodium Valporate, Tramadol, Trimetazidine |
|
Anti-Allergy |
Astimizole,
Ceterizine, Dextromethorphan, Loratindine |
|
Anti-Bacterial |
Azithromycin,
Cefaclor, Clarithromycin, Roxithromycin |
|
Laxative |
Biscodyl |
|
Anti-Inflammatory |
Celecoxib,
Refocoxib |
|
Anti-Emetic |
Cinneraxine,
Domperidone, Ondansetron |
|
Opthalmic |
Dipivefrine |
|
Steroid |
Finasteride |
|
Anti-Depressant |
Fluxoxitine,
Paroxetine, Seritraline |
|
Anti-Cholesterol |
Fluvastatin,
Lovastatin, Simvastatin |
|
Anti-Aids |
Indianavir |
|
Anti-Agina |
Iperiflavone |
|
Anti-Fungal |
Fluconazole,
Itraconazole, Ketoconazole, Miconazole, Terbinafine |
|
Analgesic |
Nebumetone |
|
Psychotic |
Olanzapine |
|
Vetenary |
Oxyclozadine |
|
Anti-Ulcer |
Lanspprozole
8.5%, Omerprazole 8.5%, Penteprazole, Rabiiprazole |
|
Anti-Psychotic |
Risperidone |
|
Anti-Asthmatic |
Salbutamol |
|
Potency |
Sildanafil
Citrate |
|
Anti-Migraine |
Sumatriptan
|
The
concern’s installed capacity is 1000 kg. day and actual production is 85% of
rated capital.
It exports
7% of its production to Nigeria, Zaire, Sri Lanka and Europe, etc.
Subject
purchases 50% from local and 50% from international markets.
It imports
from Germany, Japan, Korea, Belgium, Holland and France against Contract upto
30 days, Cash and L/C terms.
It sells
15% into local market and 85% into international market.
It exports
to France, Germany, Hong Kong, Nigeria, Zaire, Sri Lanka, Korea and Singapore
against Contract upto 30 days, Cash and L/C terms.
Subject’s
major customers include Manufacturers, Wholesalers and Retailers.
We visited
the office of the concern where following observations were carried on:
Ø
Name
Board could be sighted and the visibility of the Name Board is high.
Ø
The
concern’s office is easy to locate which is on 4th floor of
building.
Ø
Subject
operates from caption office premises of area admeasuring 500 sq.fts. which is
located in a commercial.
Ø
Items
such as Telephone, Fax Machine, Computer, Air Conditioner and Furniture could
be seen at the concern’s office.
Subject is
also having warehouse at Hamburg in Germany.
MEMBERSHIPS
² Basic Chemicals, Pharmaceuticals
& Cosmetics Export Promotion Council
² Bulk Drug Manufacturers Association
² Dyestuffs Manufacturers’ Association
of India
² Federation of Indian Chamber of
Commerce & Industry
In the year 1966, Ramu S. Deora, a gifted and hardworking
man set out to establish "G. Amphray Laboratories" with a lofty aim
to spread the light of hope and dispel the darkness of disease by contributing
to the indigenous development of "Bulk Drug" and "Drug
Intermediates" vital for the well-being of humanity at home and the world
over.
"Amphray" (affectionately known by its
clients) ventured into the export market at a time when Indian Made Products
elicited little response from International buyers. By undaunted perseverance
and utmost confidence in the quality of its products, "Amphray"
slowly but surely established its name in the International market.
Today, "Amphray" has become a force to
reckon with in the world of the Pharmaceutical Industry, equipped with
sophisticated plant and machinery and utilizing the latest processing
techniques. Their product range has expanded and they are currently dealing in
over 100 products that are used in different industries from Food Additives
& Colours to Laxatives and Chemicals for Cosmetic Industry. They are also
providing many vital life saving drugs such as Anti Ulcers, Anti Hypertensive,
Anti Diabetic, Anti Aids, Anti TB etc.
"Amphray"s
formulation department manufactures a vast range of medicines from simple
Paracetamol Tablets to any specialized formulations.
G. Amphray
Laboratories was established in 1966 by setting up a modest multipurpose Bulk
Drugs Pharmaceutical Factory at Bhiwandi near Mumbai. In 1979 the Second Unit
was started at Ambernath to manufacture Pharmaceutical bulk Drugs, and the
Third Unit to manufacture Paracetamol Bulk Drugs and Formulations started in
1982 at Ambernath.
All the Bulk Drugs and
Formulations are exported to all over the world. Whatever, they produce since
last 37 years, more than 95% of their production they are exporting and they
are having their most valuable, long-standing customers, who are buying
regularly and continuously from them.
They are having their
Warehouse in Hamburg, Germany from where you can have the ready stock material
immediately and they can arrange shipment from their Hamburg Warehouse anywhere
in the Globe.
They have Drug Master
File No. 5910 of FDA, United States of America for Acetaminophen USP (to be
renewed). Similarly for Paracetamol BP from the Netherlands DMF No. 1028, New
Zealand DMF No. TT60-243-13-1, Taiwan DMF No. 020868. Certificate of
Suitability, Registration No. CEP-96-56 for the European Community, Besides
this, they are also applying for DMF in Italy. Their Plant is approved by the
FDA for Good Manufacturing Practices (GMP) in line with WHO Guidelines.
Quality product, Good
packing, Competitive price, Timely delivery etc. is their main motto to please
their valued customers and that is the reason for the last 37 years they are
having in their fold their valued customers.
G. Amphray
Laboratories is also a recognized "Export House" by Ministry of
Commerce, Government of India since almost three decades and also exporting
various other products.
They are buying
several raw materials for their finished Bulk Drug Unit;
All these products
conform to BP / USP / FCC specifications as may be required by the customers
and can be offered in different particle sizes and bulk density as per
customer's requirements. They are also specialized in Paracetamol Tablets,
Cotrimoxazole Tablets or any other tablets as per customer's requirements.
Mr. RAMU S. DEORA, who
is the Chairman of this Unit is an acknowledged Leader on the Export Front and
has had several responsibilities entrusted to him by the business community and
Government of India. Mr. Ramu S. Deora was the President of FIEO (FEDERATION OF
INDIAN EXPORT ORGANISATIONS) in the past from 1987-91 and now from 1996-98 and
the Chairman of CHEMEXCIL (Basic Chemicals, Pharmaceuticals & Cosmetics
Export Promotion Council) in 1987-91 and now from 1996 onwards again till 2000.
He was the Trustee of MUMBAI PORT TRUST, Director of ECGC (Export Credit
Guarantee Corporation of India Ltd.) and Chairman of AISC (All India Shipper's
Council) India, Member of the Committee of FICCI (Federation of Indian Chambers
of Commerce and Industry) and Member of Board of Trade - Ministry of Commerce
etc.
After Office Hours at Residence
Res. Tel:
91-22-23 63 10 80 / 23 63 10 81
Fax : 91-22-23 67 77 72
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. 44.21 |
|
UK Pound |
1 |
Rs. 87.48 |
|
Euro |
1 |
Rs. 57.23 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
6 |
|
OPERATING
SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT
LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
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 |