MIRA
INFORM REPORT
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Report Date : |
23.07.2007 |
IDENTIFICATION DETAILS
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Name : |
FLUID PACK |
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Registered Office : |
1 – 4116, Phase – 4, GIDC, Vatva, Ahmedabad – 382445, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1984 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMF00199D |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Pharmaceutical Machinery and Spares,
Punches and Dies. |
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 20000 |
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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 concern having satisfactory
track. Proprietor is reported as experienced and respectable businessman.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/Factory : |
1 – 4116, Phase – 4, GIDC, Vatva, Ahmedabad – 382445, |
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Tel. No.: |
91-79-25840777 / 999 |
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Mobile No.: |
91-9327578371 / 9426171010 / 9825033305 (Mr. Panchal) |
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Telfax No.: |
91-79-25840888 |
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E-Mail : |
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Website : |
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Area : |
2000sq.mts |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. M. Panchal |
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Designation : |
Proprietor |
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Date of Birth/Age : |
50 Years |
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Qualification : |
B.E. Mech |
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Experience : |
23 Years |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Pharmaceutical Machinery and Spares,
Punches and Dies |
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Products : |
©
Accura Press – 4 ©
Accura Press – 2 ©
Accura B4 Type ©
Accura D4 Type ©
Accura Mini press ©
Accura Dust Extractor Machine ©
Accura Communiting Mill ©
Accura Multimill ©
Accura Coloolid Mill ©
Accura Sifter Machine ©
Accura Coating Machine ©
Accura Granulator Machine ©
Accura Punches and Dies |
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Exports : |
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Products : |
All Products |
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Countries : |
Asian Countries, |
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Terms : |
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Selling : |
L/C, Against Delivery |
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Purchasing : |
Cash, Credit (90 days) |
GENERAL INFORMATION
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Customers : |
©
End Users © ADVANCE
REMIDES © AGROSYNTH © © AKUMS DRUGS © ALEMBIC © ALKEM © B.P.R.L © BAYER CROPSCIENCE
© BENTLEY &
REMINGTON © BIOCHEM © BLUE CROSS LAB
© CACHET © CADILA © CANDICO (I) © CARBORUNDUM © © DABUR © DABUR ( © DR. REDDY`S
LAB © EMBIOTIC LAB © EMCURE © ENCORE
HEALTHCARE © FOURRTS (I)
LAB © GALPHA LAB © GERMAN
REMEDIES © GLAXO SMITHKLIME
© GLENMARK © GLOBAL CALCIUM
© HEALING CROSS © HELIOS PHARMA © HETERO DRUGS © © INDCHEMIE © INDOCO REMIDES
© IND-SWIFT © J. B.
CHEMICALS © JCPL © KARNATAKA
ANTIBIOTICS © LEXICON ( © LEXUS INDIA © MICRO LABS © MOREPEN © NATCO PHARMA © NICHOLAS
PIRAMAL © PANACEA BIOTEC
© PASYCHOTROPICS
© PHARMANOVA-MALAWI
© RANBAXY © REMIDEX PHARMA
© RPG LIFE
SCIENCES © SADM PHARMA © SARVOTHAM CARE
© STRIDES
ARCOLAB © SUN PHARMA © ZANDU PHARMA © TORRENT © UNICHEM © USV LIMITED © VAPI CARE
PHARMA © VIVEK PHARMA. © WINDLASS
BIOTECH © WYETH © APEX INC © BACTOLAC INC © INVAGEN INC © FORMUREX INC © SENKON PHARMA |
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No. of Employees : |
100 |
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Bankers : |
Bank of Vatva Branch Kalupur Co-Operative Bank Vatva Branch |
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Banking Relations
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Satisfactory |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 millions |
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Borrowed : |
- |
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Total : |
Rs.5.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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40.000 |
25.000 |
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Expected Sales (2007-08) : Rs.60.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References:
©
Stride Arcolab,
©
IPCA Lab, Ratlam
©
Wock Hart, Mumbai
Website Details Attached
Company Details:
They are a leading and trusted manufacturer of Pharmaceutical
Machineries, Spares, Punches and Dies for last 18 years. They are very much
strong in Tabletting Machines including their spares. They have a team of
highly skilled top professionals, technicians, and engineers to provide best
quality services and optimum satisfaction to their valued clients. The
Engineering Division will develop comprehensive solutions for customer-focused
or market-driven needs. To accomplish its goals, the Engineering Division added
several industry leading professionals to its staff, and made significant
investments in new equipment and technology.
They achieved
their market leadership and global success by offering creative and
unconventional solutions to complex and challenging projects. They have a
proven track record of meeting and exceeding customer’s expectations, and of
consistently delivering comprehensive solutions that demand experience,
expertise and added value. They are particularly proud of their
long-established reputation as an international level manufacturer. Their
reputation emanating from the success of their company founders in creating a
corporate culture dedicated the principles of continuous improvement. Such
dedication created a product development and service organization that is able
to rapidly respond to the ever-changing technical requirements of their
customers. It also created a well engineered, equipped, and maintained
manufacturing facility capable of sustaining a high level of productive
efficiency while allowing extremely flexible production scheduling.
Fluidpack consistently demonstrates its ability to deliver on time
quality products and technical support.
Management Info
Their company's founder Mr. M. M.Panchal and other Core Management team
believes that The Company is a team, not a simple collection of individuals.
The success of the team takes precedence over the success of the individual.
The company requires individuals, regardless of role, to interact with one
another cooperatively and objectively in consideration of team goals. Teamwork
is emphasized and valued.
Their philosophy maintains that they understand and believe that every
completed project must serve the client's needs, be efficient in concept and
design, and be value oriented. Their staff approaches each assignment in a
professional and business-like manner, while maintaining a personal commitment
to the client and their objectives. Attention is given throughout the project
for effective communication and rapport to insure that their work is based on
an accurate understanding of the client's objectives
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.33 |
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1 |
Rs.82.63 |
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Euro |
1 |
Rs.55.65 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
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48 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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