MIRA INFORM REPORT
|
Report
Date : |
29.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
S. M. HERBALS PRIVATE LIMITED |
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Formerly
Known As : |
S S NONWOVENS LIMITED |
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Registered
Office : |
A - 1132,
RIICO Industrial Area, Phase II, Bhiwadi- 301019, Rajasthan |
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Country
: |
India |
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Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
31.12.1993 |
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Com.
Reg. No.: |
17-7916 |
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CIN
No.: [Company
Identification No.] |
U18101RJ1993PTC007916 |
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Legal
Form : |
Private Limited Liability Company |
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Line
of Business : |
Manufacturer and Exporter of Herbal Extracts and
Phytochemicals. |
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 65000 |
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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 : |
A - 1132,
RIICO Industrial Area, Phase II, Bhiwadi- 301019, Rajasthan, India |
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Tel.
No.: |
91-1493-222349 |
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E-Mail
: |
DIRECTORS
|
Name : |
Mr. Anil G. Bhansali |
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Designation
: |
Director |
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Name : |
Mr. Rajendra Kumar Bader |
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Designation
: |
Director |
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Address
: |
Mercantile Building, Main Road, Tezpur - 784001, Assam,
India |
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Date
of Birth/Age : |
27.05.1949 |
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Date
of Appointment : |
31.12.1993 |
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Name : |
Ms. Priti Bader |
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Designation
: |
Director |
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Address
: |
Mercantile Building, Main Road, Tezpur - 784001, Assam,
India |
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Date
of Birth/Age : |
10.12.1950 |
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Date
of Appointment : |
30.03.1998 |
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Name : |
Mr. Sudhir Prakash |
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Designation
: |
Director |
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Address
: |
11, R. N. Mukherjee Road, Kolkata – 700001, West Bengal,
India |
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Date
of Birth/Age : |
05.01.1949 |
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Date
of Appointment : |
31.12.1993 |
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Name : |
Mr. Aditya Vikram Rungta |
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Designation
: |
Director |
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Address
: |
52/4/1, Baliganj Circular Road, Kolkata – 700019, West
Bengal, India |
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Date
of Birth/Age : |
14.04.1956 |
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Date
of Appointment : |
27.05.2003 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
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Mr.
Rajendra Kumar Bader |
|
70015 |
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Mr.
Sudhir Prakash |
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1020 |
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Mr.
Prakash Chand Bader |
|
49760 |
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Mr. Raj
Kumar Baid |
|
10 |
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Mr.
Dhadiwal Bader Saaz |
|
10 |
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Ms. Priti
Bader |
|
10010 |
|
Sonitpur
Solvex Limited |
|
25000 |
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Mr.
Anshuman Prakash |
|
1000 |
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Ms.
Poonam Prakash |
|
1000 |
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Ms.
Radhika Prakash |
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1000 |
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Mr.
Sidhant Prakash |
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1000 |
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Darshan
Lal Anand Prakash & Sons Private Limited |
|
80025 |
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Ms. Avni
Bader |
|
5000 |
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Ms. Vimla
Bader |
|
12500 |
|
Techno
Finance Limited |
|
75000 |
|
Bhansaly
Lalit Kumar Karta of Lalit Kumar Bhansaly & Ors. |
|
5000 |
|
Aninda
Sales Private Limited |
|
50000 |
|
North
East Builders Private Limited |
|
132470 |
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Ms. Madhu
Shree Rungta |
|
2750 |
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Ms.
Shanti Kumar Rungta |
|
5000 |
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Mr.
Aditya Vikram Rungta |
|
50000 |
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TOTAL |
|
577570 |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturer and Exporter of Herbal Extracts and
Phytochemicals. |
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Product
: |
10 DAB
III (10 Deacetyl Baccatin III) (98-99 %) Reserpine
(98-99.5 %) Colchicine
BP/USP Camptothecin
98 % Colchicoside
Calcium
Sennosides (10 %- 90 %) Guggal
Extract 2.2 % ENZ |
GENERAL INFORMATION
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Bankers
: |
State Bank of Bikaner & Jaipur, Jaipur State Bank of Bikaner & Jaipur, Alwar |
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Banking Relations : |
Satisfactory |
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Auditors
: |
Doogar & Accociates Chartered Accountants, 13, Community Centre, East of Kailash, New Delhi – 110065,
India PAN No. : AACFD8728L |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
700000 |
Equity Shares |
Rs. 10/- Each |
Rs. 7.000 Millions |
|
130000 |
Redeemable Preference Shares |
Rs. 100/- Each |
Rs. 13.000 Millions |
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Total |
|
Rs. 20.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
577570 |
Equity Shares |
Rs. 10/- Each |
Rs. 5.775 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 |
|
5.775 |
5.775 |
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2] Share
Application Money |
|
0.000 |
0.000 |
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3]
Reserves & Surplus |
|
10.464 |
5.217 |
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4]
(Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH
|
|
16.239 |
10.992 |
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LOAN
FUNDS |
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1]
Secured Loans |
|
5.331 |
5.295 |
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2]
Unsecured Loans |
|
1.543 |
25.144 |
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TOTAL
BORROWING
|
|
6.874 |
30.439 |
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DEFERRED
TAX LIABILITIES |
|
1.207 |
1.342 |
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TOTAL
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24.320 |
42.773 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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12.462 |
13.557 |
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Capital work-in-progress
|
|
0.000 |
0.000 |
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INVESTMENT
|
|
1.007 |
0.956 |
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DEFERREX TAX ASSETS
|
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
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13.617 |
23.490 |
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Sundry Debtors
|
|
0.536 |
4.159 |
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Cash & Bank Balances
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|
0.216 |
0.357 |
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Other Current Assets
|
|
0.175 |
0.181 |
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Loans & Advances
|
|
3.932 |
1.385 |
Total Current Assets
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|
18.476 |
29.572 |
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
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|
4.651 |
0.866 |
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Provisions
|
|
3.020 |
0.508 |
Total Current Liabilities
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|
7.671 |
1.374 |
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Net
Current Assets
|
|
10.805 |
28.198 |
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MISCELLANEOUS EXPENSES
|
|
0.046 |
0.062 |
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TOTAL
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24.320 |
42.773 |
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KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
3.03.2005 |
Debt Equity Ratio
(Total
Liability/Networth) |
|
|
0.89 |
2.89 |
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Current Ratio
(Current
Asset/Current Liability) |
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|
2.40 |
21.52 |
LOCAL AGENCY FURTHER INFORMATION
|
Name
of the company |
S M
HERBALS PRIVATE LIMITED |
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Presented By |
Shri R. K. Bader |
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1) Date
and description of instrument creating the change |
Agreement
for cash credit dated 26.02.1998 Agreement
of loan for overall limit dated 23.02.2001 Agreement
of hyp. of goods and assets dated 23.02.2001 |
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2) Amount
secured by the charge/amount owing on the securities of charge |
Rs. 5.100
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 |
Present
and future book debts outstanding moneys, receivables claims Whole
stocks of guggles hypericum etc. whether now or in process and all articles
manufactured there from |
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4) Gist
of the terms and conditions and extent and operation of the charge. |
Interest @ 3.25% p.a. above SBBJ PLR with a minimum of
16.75% p.a. |
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5) Name
and Address and description of the person entitled to the charge. |
State Bank of Bikaner & Jaipur Industrial Estate, Bhiwadi, District Alwar, Rajasthan |
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6)
Date and brief description of
instrument modifying the charge |
a.
Agreement of loan for overall limit dated 20.01.2004 b.
Supplemental agreement of hyp. of goods and assets dated 20.01.2004 c. letter
regarding the grant of individual limits within the overall limit dated
20.01.2004 |
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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. |
Cash
credit [hyp] limit increased from Rs. 2.500 millions to Rs. 5.000 millions
with to the ceiling of Rs. 5.000 millions Interest
@ 1.75% above SBBJ PLR with present effective rate of 12.75% p.a. applicable
at monthly interests Ist
charge on the entire fixed assets of the company Equitable
mortgage of land & buildings at A – 1132, RIIC I. A. Phase – II, Bhiwadi
in the name of the company Margin on
stocks – 25%, book debts – 50% Ist
charge on the entire current assets of the company |
As Per Website Details:
They are dedicated and focused on the extraction, isolation
and purification of natural pharmaceutical ingredients. Their manufacturing
plant is located at Bhiwadi Rajasthan just 60 kms from New Delhi Airport. They
strictly follow GMP guidelines and are a Certified ISO 9001-2000 Company.
As you are aware of the fact that the products manufactured
in India are highly cost competitive and as their manufacturing facilities is a
Certified ISO 9001-2000 approved, they can give you products of global
standards which are accepted every where.
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.44.27 |
|
UK Pound |
1 |
Rs.86.71 |
|
Euro |
1 |
Rs.57.13 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
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--CREDIT
LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
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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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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 |