MIRA INFORM REPORT

 

 

Report Date :

29.06.2007

 

IDENTIFICATION DETAILS

 

Name :

ANCHOR MARK PRIVATE LIMITED

 

 

Registered Office :

101-A, Kandivali Cooperative Industrial Estate Limited, Charkop, Kandivali (West), Mumbai-400067, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2006

 

 

Date of Incorporation :

04.11.1986

 

 

Com. Reg. No.:

041477

 

 

CIN No.:

[Company Identification No.]

U15997MH1986PTC041477

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMA21789F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of pharmaceutical and chemical machinery.

 

 

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 62000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is well-established company having satisfactory track. Trade relations are fair. General financial position  is satisfactory. Payments are correct and as per commitments.

 

The company can be considered normal for business dealings at usual trade terms and conditions

 

 

LOCATIONS

 

Registered Office /

Administrative Office :

101-A, Kandivali Cooperative Industrial Estate Limited, Charkop, Kandivali (West), Mumbai-400067, Maharashtra, India.

Tel. No.:

91-22-28682001/28690923

Fax No.:

91-22-28682250

E-Mail :

anchor@bom5.vsnl.net.in

Website :

http://www.anchormark.com

 

 

Factory  :

Plot No. 43, Survey No. 66, Village Valiv, Vasai (East), District – Thane – 401208

Tel. No.:

91-250-2481123/2480775/2481993

Mumbai – 95250-2480775, 91-22-2481123

Fax No.:

91-250-2480860

Mumbai – 95250-2480860

 

 

DIRECTORS

 

Name :

Mr. D’souza Florine

Designation :

Director

Address :

501 Seville, 3rd Domnic Lane, Orlem Malad (West), Mumbai-400064, Maharashtra , India

Date of Birth/Age :

03.10.1958

Date of Appointment :

04.11.1995

 

 

Name :

Mr. D’souza Gregory

Designation :

Director

Address :

501 Seville, 3rd Domnic Lane, Orlem Malad (West), Mumbai-400064, Maharashtra , India

Date of Birth/Age :

18.05.1953

Date of Appointment :

04.11.1995

 

 

Name :

Mr, Nitin Patil

Designation :

Director

Address :

Mulgaon Pondewadi, Vasai, Thane-401201, Maharashtra, India

Date of Birth/Age :

15.08.1964

Date of Appointment :

26.07.1996

 

 

 

 

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

Names of Shareholders

 

No. of Shares

Mr. Gregory D’souza

 

21750

Mr. Florine D’souza

 

7689

Mr. Jointa D’souza

 

1001

Mr. Glenn D’souza

 

1000

Mr. Matha D’souza

 

1100

Mrs. Ceilia D’souza

 

1000

Mr. Roywin D’souza

 

250

Mr. Joane D’souza

 

250

Total

 

34040

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of pharmaceutical and chemical machinery

 

PRODUCTION STATUS

 

Particulars

 

 

Unit

Actual Production

Capsule Filling Machine

 

 

Qty.

20

Mechanical Sifter

 

 

Qty.

11

Acrylic Cover

 

 

Qty.

5

Lading Rings

 

 

Qty.

38

Hopper

 

 

Qty.

1

Rapid Mixer Granulator

 

 

Qty.

8

Fluid Bed Dryer

 

 

Qty.

9

Lifting And Tippering

 

 

Qty.

4

Lifting And Positioning Device

 

 

Qty.

16

Sifer Cum Multimill

 

 

Qty.

4

Raceway

 

 

Qty.

15

Pulley

 

 

Qty.

1

Change Part

 

 

Qty.

21

Double Cone Mixer

 

 

Qty.

4

Powder Filling Machine

 

 

Qty.

7

Tray Dryer

 

 

Qty.

6

Shaft

 

 

Qty.

29

Shoe

 

 

Qty.

12

S.S Plate

 

 

Qty.

1

Shim

 

 

Qty.

9

Plunger

 

 

Qty.

3

Air Seal Adapter

 

 

Qty.

2

Gaskets

 

 

Qty.

7

Seals

 

 

Qty.

8

Pin

 

 

Qty.

658

Bottle Labeling Mahine

 

 

Qty.

1

Bottle Capping Machine

 

 

Qty.

2

Multimill

 

 

Qty.

10

Sieves

 

 

Qty.

65

Recommended Spares

 

 

Qty.

2

Sleeve

 

 

Qty.

1

Teflon Rings

 

 

Qty.

2

 

 

GENERAL INFORMATION

 

No. of Employees :

60

 

 

Bankers :

Bank of Baroda, Mumbai

 

 

Facilities :

Secured Loans

Cash credit from Bank of Baroda            Rs. 7.017 millions

(Hypothecation of stock and sundry debtors)

demand loan from Bank of Baroda           Rs. 0.248 millions

Total                                                         Rs. 7.265 millions

 

 

 

Banking Relations :

-

 

 

Auditors :

 

Name :

D. G. Thakarar and Associates

Chartered Accountant

Address :

B-14, Shubhlaxmi, 2nd Floor, 8th Road, Santacruz (East), Mumbai – 400055

Tel. No.:

91-22-26102890

Mobile No.:

91-22-26102890

E-Mail :

dgthakar@bom5.vsnl.net.in

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

35000

Equity Shares

Rs. 100.00 each

Rs. 3.500 millions

 

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

34040

Equity Shares

Rs. 100.00 each

Rs. 3.404 millions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2006

31.03.2005

31.03.2004

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

3.404

3.404

3.404

2] Share Application Money

7.076

7.129

0.000

3] Reserves & Surplus

5.117

8.178

6.151

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

15.597

18.711

9.555

LOAN FUNDS

 

 

 

1] Secured Loans

8.235

10.349

7.264

2] Unsecured Loans

0.000

0.000

13.365

TOTAL BORROWING

8.235

10.349

20.629

DEFERRED TAX LIABILITIES

 

 

0.000

 

 

 

 

TOTAL

23.832

29.060

30.184

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

12.822

9.856

10.529

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.005

0.005

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
15.385

17.654

 

Sundry Debtors
18.925

15.961

 

 

Cash & Bank Balances
2.334

5.800

35.209

 

Other Current Assets
0.089

0.093

 

 

Loans & Advances
4.290

3.433

 

Total Current Assets
41.023

42.941

35.209

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
30.018

23.743

15.558

 

Provisions
0.000

0.000

 

Total Current Liabilities
30.018

23.743

15.558

Net Current Assets
11.005

19.198

19.651

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.001

0.004

 

 

 

 

TOTAL

23.832

29.060

30.184

 

 

 

 

 

 

 

 

 

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

 

31.03.2006

31.03.2005

31.03.2004

Sales Turnover [Including other Income]

91.222

65.045

69.584

 

 

 

 

Profit/(Loss) Before Tax

0.043

1.326

2.919

Provision for Taxation

0.000

0.000

0.746

Profit/(Loss) After Tax

0.043

1.326

2.173

 

 

 

 

Export Value

0.000

0.000

0.141

 

 

 

 

Expenditures :

 

 

 

Total Expenses

91.179

63.719

 

 

Interest

0.226

0.432

66.664

 

Depreciation

0.834

0.790

 

Total Expenditure

92.239

64.941

66.664

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2006

31.03.2005

31.03.2004

PAT / Total Income

(%)
0.05

2.04

3.122

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
0.05

2.04

4.199

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
0.08

2.51

6.382

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.00

0.07

0.305

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
2.45

1.82

3.787

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.37

1.81

2.263

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Prospects:

 

The introduction of a wide range of products with a focus on quality has strengthened the company’s competitive position. Following the success of its vast production base a deep understanding of the domestic market and a strong distribution network, the company is confident of emerging successful over the foreseeable future.

 

The company has survived the recession and continues to grow. Barring unforeseen circumstances, the company expects to perform well during the current financial year. The management plans to continue its efforts for improvement of products and reduction in rejection rate. Besides these steps for reduction of power consumption and efficient utilization of materials are constantly being taken by the Technical Team of the company under the supervision and guidance of the Directors of the company.

 

The management of the company is confident of maintaining its growth by continued focus on quality and efficient management of Resources.

 

 

Fixed Assets:

A-Unit

Factory Building, Furniture And Fixture, Plant And Machinery, Electrical Installation, Air-Conditioned, Typewriter, Motor Car, Motor Cycle, Weighing Scale, Computer And Accessories, Fax Machines

 

B-Unit

Factory Building, Site Development, Plant And Machinery, Furniture And Fixture, Attendance Time Recorder, Fax Machines,  Electrical Installation, Typewriter, Xerox Machine, EPBAX, Water Cooler, Motor Car, Air-Conditioned, Computer And Accessories, Portable Dehumidifier, Pager, Bicycle, Motor Cycle, Weighing Scale, Scalier Stand

 

AS PER WEBSITE:

 

Established in 1980, ANCHOR MARK has rapidly grown to become one of India’s reputed marketing company for Pharmaceutical Machinery. Beginning with fully-automatic, semi-automatic and manual capsule filling machines, the company today markets a wide range of equipment and plants for PHARMACEUTICAL, FOOD & VITAMIN, BEVERAGE & COSMETIC industry.

 

 

THE RANGE COVERS:

 

 

Ø       High-speed fully-automatic - Capsule Filling,
Liquid Filling, Powder Filling and Sealing Machines

Ø       High sear mixer granulators

Ø       Mixers

Ø       Semi-automatic-Capsule Filling, Powder Filling, Liquid Filling and Cream Filling Machines

Ø       Granulators

Ø       Blenders

Ø       Manual Capsule Filling, Automatic Loaders and Polishing Machines

Ø       Ointment / Cream Manufacturing Plants

Ø       Multi Mill

Ø       Fluid Bed Dryers

Ø       Sifters

Ø       Tray Dryers

 

True to its Quality Policy of directing all efforts to achieve ultimate customer satisfaction, the Company supplies products manufactured strictly to GMP requirements. Anchor Mark’s Pharmaceutical Machinery meet international standards and are being increasingly recognized in sophisticated markets of USA, Canada, Germany, Costa Rica, besides Russia, Kazakistan, Singapore, Malaysia, South Africa, Iran, Nigeria, Ghana, Sudan, Kenya, Tanzania, Sri Lanka, Bangladesh, Nepal, Vietnam, Oman, Syria and Congo.
With the experience of having marketed extensively in India catering to various customers’ requirements, Anchor Mark is today equipped to offer turnkey installations for setting up of new Pharmaceutical units.

 Machines

 

Ø       Capsule Section

Ø       Tablet Section

Ø       Dry Powder Section

Ø       Liquid Oral Section

Ø       Ointment / Cream Section

Ø       R&D / Pilot Plant Models

 

 

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. 40.75

UK Pound

1

Rs. 81.63

Euro

1

Rs. 54.79

 

 

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

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

6

--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

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

47

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions