MIRA
INFORM REPORT
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Report Date : |
29.06.2007 |
IDENTIFICATION DETAILS
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Name : |
UMANG PHARMATECH PRIVATE LIMITED |
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Registered Office : |
Flat No. 34, 3rd Floor, B- 2 , Windermere, Off
New |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
18.05.1992 |
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Com. Reg. No.: |
066815 |
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CIN No.: [Company
Identification No.] |
U29297MH1992PTC068815 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMU01759C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To carry on the business of manufacturer, processors, dealers,
exporters, importers, designers, erectors, fabricator of pharmaceuticals
machinery chemical plants, chemical machinery parts, spares, components,
accessories, attachments and appliances relating there to in particular
plants for Pharmaceutical formulations, vessels, mixers, tape dispensers and
general fabricators of pharmaceuticals and chemical plant and machinery |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 69116 |
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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 fine track. Directors are reported as experienced, respectable and resourceful industrialist. Their trade relations are fair. General financial position is good. Payments are correct and as per commitments. The company can be considered good for any normal business dealings at usual trade terms and condition. It can be regarded as a promising business partners in a medium to long run. |
LOCATIONS
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Registered Office : |
Flat No. 34, 3rd Floor, B- 2 , Windemere, Off
New |
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Tel. No.: |
91-250-2454467 |
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Fax No.: |
91-250-2452101 |
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E-Mail : |
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Factory 1 : |
Plot No. 23, Golani Complex, |
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Tel. No.: |
91-250-2453795/2454467/2456482 |
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Fax No.: |
91-250-2453795/2454467/2456482 |
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E-Mail : |
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Website : |
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SOLE PROPRIETOR/PARTNERS/DIRECTORS
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Name : |
Mr. Rajkumar J. Budhraia |
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Designation : |
Director |
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Address : |
Flat No. 34, 3rd Floor, B- 2 , Windermere, Off
New |
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Date of Birth/Age : |
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Qualification : |
B.E |
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Experience : |
35 Years |
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Date of Appointment : |
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Name : |
Ms. Renu R. Budhraia |
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Designation : |
Director |
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Address : |
Flat No. 34, 3rd Floor, B- 2 , Windemere, Off
New |
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Date of Birth/Age : |
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Date of Appointment : |
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Other Personal |
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Name : |
Mr. Paresh N. Shah |
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Designation : |
Company Secretary |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Rajkumar J. Budhraia |
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35000 |
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Renu R. Budhraia |
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35000 |
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Priya Komal Narang |
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1750 |
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Umang Rajkumar Budhraia |
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1750 |
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Payal Rajkumar Budhraia |
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1750 |
BUSINESS DETAILS
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Line of Business : |
To carry on the business of manufacturer, processors, dealers, exporters, importers, designers, erectors, fabricator of pharmaceuticals machinery chemical plants, chemical machinery parts, spares, components, accessories, attachments and appliances relating there to in particular plants for Pharmaceutical formulations, vessels, mixers, tape dispensers and general fabricators of pharmaceuticals and chemical plant and machinery. |
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Products : |
Extruder / Palletize with Die Roller Fluid Bed Coater Sphere iodize Lab – Caster Drug Layering Fluid Bed Processor |
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PRODUCTION STATUS
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Particulars |
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Unit |
Actual
Production |
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Extruder / Palletize with Die Roller |
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Pcs. |
8 |
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Fluid Bed Coater |
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Pcs. |
6 |
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Sphere iodize |
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Pcs . |
3 |
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Lab – Caster |
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Pcs. |
2 |
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Drug Layering |
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Pcs. |
Nil |
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Fluid Bed Processor |
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Pcs. |
Nil |
GENERAL INFORMATION
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Suppliers : |
Ř Ami Polymers Ř Madan Transmission Private Limited Ř National Power Tools Ř Data Seal (I) Ř Emitent System Network Ř Ashs Industries Ř A.V.S Systems Ř
Ace Machines( Ř Allied Weld Industries Ř ALM Systems Ř Alu – Décor Ř Ami Polymers Ř Auto Power Ř Bafna Metal Corporation Ř B.K. Engineering Works Ř B. K. Electricals Ř Cadel Engineering Works Ř Chinmay Engineering Works Ř C. K. Shah & Company Ř Control Technice Ř Corel Pharma – Chem Ř Data Seal (1) Ř DBK Instruments Ř
Ř Dutta Techinal Services Ř Electro Pharma Ř Electro Lab Ř Eminent System Network Ř Eminent Automation Ř Galaxy Industrial Gases Ř Grotto Filters & Equipment Ř Harshad Industries Ř HPS Air Systems Private Limited Ř Indian Trade Agencies Ř Indo Lube Ř Industrial Linkers Ř Tata Indicom Ř The Professional Courier Ř Tuff Facility management services Ř Universal Security Devices Ř Vasai Cable Private Limited Ř V. V. Engineering Ř Web - Mantra |
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Customers : |
Ř Cipla Limited Ř Hindustan Lever Limited Ř Macleods Pharmaceuticals Limited Ř U.S. Vitamins Limited Ř Kopran Limited Ř Indswift Lab Limited |
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No. of Employees : |
70 |
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Bankers : |
Allahabad Bank, Mumbai Syndicate Bank, Mumbai UTI Bank , Mumbai |
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Facilities : |
29/03/2000 Rs. 0.500 millions (from Syndicate Bank, Vasai (East), Thane ) against hypothecations of machinery / Vehicles. |
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Banking Relations
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Good |
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Auditors : |
Pankaj A. Shah and Company Chartered Accouantant, 12/25, -L, Navjivan Comm. Premises Co-operative Society
Limited, |
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Tel. No.: |
91-22-23074148/ 91-22-28331135 |
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Fex No.: |
91-22-23053478 |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 100 each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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75250 |
Equity Shares |
Rs. 100 each |
Rs. 7.525 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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7.525 |
7.525 |
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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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9.754 |
5.115 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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17.279 |
12.640 |
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LOAN FUNDS |
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1] Secured Loans |
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30.246 |
0.500 |
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2] Unsecured Loans |
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2.325 |
0.000 |
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TOTAL BORROWING |
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32.571 |
0.500 |
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DEFERRED TAX LIABILITIES |
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0.337 |
0.324 |
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TOTAL |
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50.187 |
13.464 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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59.229 |
14.129 |
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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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0.500 |
0.000 |
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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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6.993 |
2.230 |
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Sundry Debtors |
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10.570 |
5.875 |
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Cash & Bank Balances |
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0.926 |
1.284 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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9.973 |
6.196 |
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Total
Current Assets |
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28.462 |
15.585 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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22.059 |
9.853 |
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Provisions |
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16.502 |
6.481 |
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Total
Current Liabilities |
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38.561 |
16.334 |
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Net Current Assets |
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(10.099) |
(0.749) |
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MISCELLANEOUS EXPENSES |
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0.557 |
0.084 |
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TOTAL |
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50.187 |
13.464 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover (including Other Income) |
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63.894 |
48.697 |
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Profit/(Loss) Before Tax |
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7.201 |
7.129 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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7.201 |
7.129 |
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Export Turnover |
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20.946 |
18.550 |
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Expenditures : |
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Cost of Goods Sold |
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Manufacturing Expenses |
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Administrative Expenses |
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Raw Material Consumed |
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Purchases made for re-sale |
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56.693 |
41.568 |
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Consumption of stores and spares parts |
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Increase/(Decrease) in Finished Goods |
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Salaries, Wages, Bonus, etc. |
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Managerial Remuneration |
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Payment to Auditors |
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Interest |
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1.492 |
0.060 |
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Depreciation & Amortization |
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1.310 |
1.185 |
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Total Expenditure |
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59.495 |
42.813 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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11.27 |
14.63 |
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Net Profit Margin (PBT/Sales) |
(%) |
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11.27 |
14.63 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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8.21 |
23.99 |
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Return on Investment (ROI) (PBT/Networth) |
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0.41 |
0.56 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.23 |
1.29 |
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Current Ratio (Current Asset/Current Liability) |
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0.73 |
0.95 |
LOCAL AGENCY FURTHER INFORMATION
The working results of the company for the year show a net profit of Rs7.093 Millions (profit Rs.2.588 Millions) in previous years.
Fixed Assets : -
Land, Factory premises, Furniture and Fixtures, Generator set, Computer, Car, Air Conditioners, Plant and Machinery, Fax machine
AS PER WEBSITE
Set-up in 1997, their Works are located at Vasai on the outskirts of Mumbai and has a structure designed to provide high quality automised products and several other facilities to ensure the success of the trials of the clients at their premises or projects undertaken by the clients. Their team of experienced professionals first analyze the needs of the client, analyze the characterestics of the product and accordingly suggest the appropriate course of action. An opportunity is given to the clients to try their products on their machines. All the machines especially the R&D sized machines are usually kept ready to enable their clients to take trials. A fully equipped trial room with provisions for humidity controls and the assistance of consultants is provided to ensure the success of their clients
CLIENTS
Budhraja: Pioneer in Pelletisation machines
Express Pharma Pulse March 29, 2001 by Sreekala G.
Fluid Bed Systems: Will they suit your requirements?
Pharma Technology Trends March 1, 2001
All the operations like formation of beads, layering of the beads, agglomeration, enteric coating, tastemasking, drying are possible by the open system and fluid bed system. However, in fluid bed system all the operations can be carried out from a single machine by changing the insert - by R. Budhraja
Fluid bed processing is being used in the pharmaceutical industry for the past three decades. The technology was originally developed specifically for rapid drying. Over the years, fluid bed processing has come into routine use for other applications such as particle coating, pellet coating, agglomerations, drug layering and pellet formation. The improvement in the technology is driven by the pharmaceutical industry and the manufacturers of the equipment.
A fluidized bed is a bed on which the particles or pellets are put, and a stream of air or gas passes upward through the particles at a rate great enough to set them in motion. As the air travels through the particle bed it imparts unique properties to the bed. It is possible to propagate a wave motion in the bed, which creates the potential for improved mixing. The intense mixing of the particles results in isothermal property.
Thus the fluid bed can be used to dry the wet product agglomerate particles, improve the flow properties, instantise the product or produce coated particles for controlled release or taste masking. As per the requirements of the pharmaceutical industry, the manufacturers of pharmaceutical machineries have developed the fluid bed processor wherein it is possible to perform the different operations just by changing the insert.
All the operations like formation of beads, layering of the beads, agglomeration, enteric coating, tastemasking, drying are possible in the open system and fluid bed system. The difference being that in case of the former all the operations can be carried out using different machines whereas in the latter all the operations are possible in one machine by changing the insert. The fluid bed system is more preferred in case the development of the product requires a complete pollution free environment and more automisation and sophisticated controls.
In case of the fluid bed system three inserts are possible. Each insert differs in terms of the spraying pattern. Using each insert different operations are possible.
Wurster Insert (bottom spray insert)
Principle of operation
The beads are kept in the product chamber and are coated with the solution with
help of a Wurster design product chamber with bottom spray nozzle and partition
in the middle
.
The beads when coated with the solution are airborne to such a height that when
they reach near the filter assembly they start falling back and are fairly dry
when reaching back in the product chamber for further coating.
This process continues till the desired level of coating is achieved.
Operations possible
Particle coating (from 75 microns - 150 microns)
Powder coating (from 10 micron and above) (optional)
Pellet coating.
Extrusion coating
Top spray insert
Principle of operation
Raw materials are mixed in a product container of the Fluid Bed Processor and
granulation is achieved by spraying binder solutions in atomised form.
Simultaneous drying can ensure achieving desired particle size and lubriction
is done in the same container.
Operations possible
Top spray coating
Fluid bed drier.
Top spray granulation.
Rotoprocessor insert (tangential spray insert)
Principle of operation
The principle of operation is that tangential nozzles are fixed above the
rotating plate so as to do different operation using the same insert. The
rotating plate is a specially designed perforated plate so that the powder does
not fall down and at the same time air can come through the plate creating
fluidized effect in the processor.
The uniformity in this type of coating is best and the wastage is the minimum as the spray nozzle is embedded within the bed.
Operations possible
Tangential coating
Tangential granulation
Pallet formation
Pellet formation Pellet drug loading on dummy beads (N.P.S.)
Concave tablet coating.
Depending on the application either of the inserts could be used. However inorder to asses the applicability appropriate trials and guidance be take on using al the inserts.
- The author is managing director of Umang Pharmatech Pvt. Ltd.
COATING
What is…..
Coating in solid drug layering?
Coating Pan v/s Solid Drug Layering
Fluid Bed Coater (Processor) v/s Auto-Coater
In this era when the implications of GATT are on the anvil different molecules & differential formulations have become a necessity. Differential release patterns, aesthetic appeals have become the order of the day. In order to achieve the same the coating of the pellets and particles with relevant polymers plays a very important role.
Coating can be done in the solid drug layering machine which is an open system or by using the fluid bed technology.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.40.75 |
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|
1 |
Rs.81.63 |
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Euro |
1 |
Rs.54.19 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 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 |
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