MIRA
INFORM REPORT
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Report Date : |
24.07.2007 |
IDENTIFICATION DETAILS
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Name : |
RIDHAM MEDICARE |
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Registered Office : |
310, Shikhar Complex, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1995 |
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Legal Form : |
Sole Proprietorship Concern |
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Line of Business : |
Manufacturers and Exporters of Pharmaceutical Formulations. |
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 10000 |
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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 : |
310, Shikhar Complex, |
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Tel. No.: |
91 – 79 – 30181026 |
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Mobile No.: |
91 - 9824099601 |
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Fax No.: |
91 – 79 – 30124026 |
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E-Mail : |
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Website : |
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Area : |
400 Sq. fts. |
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Location : |
Owned |
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Factory : |
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Area : |
1800 Sq. fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Akash Vora |
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Designation : |
Proprietor |
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Date of Birth/Age : |
34 years |
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Qualification : |
Graduate |
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Experience : |
15 years |
KEY EXECUTIVES
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Name : |
Mr. Abhigya Shah |
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Designation : |
Purchase Manager |
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Mobile No.: |
91 - 9824716790 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Pharmaceutical Formulations. |
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Products : |
v Rim-AS (Syp. 100
ml.) v Enzo (Syp. 200
ml.) v R-Gel (Susp. 170
ml.) v Amrim
(Syp. 100 ml.) v Levorim-500
(Tablets) v Rabiole-20
(Tablets) v Recharger Energy
Powder (210/105 gm.) v Rabiole-D
(Tablets) v Roxrim-A
(Tablets) v R-Min Plus
(Tablets) v Lycorim Plus
(Capsules) v R-Dox (Tablets) v Nimorim
(Tablets) v Nimorim-S
(Tablets) v Nimorim Plus
(Tablets) v Rimcin-500
(Tablets) v Celbac-S (Inj.
1.5 gm.) v Cefque-S (Inj. 1
gm.) v R-Clav (Tablets) v R-Clav (Dry Syp.
30 ml.) v Cefurex-500
(Tablets) v Rimcef- 100/200
(Tablets) v Rimcef Dry Syp.
(30 ml.) v Ridflox
(Tablets) v Ridflox-TZ
(Tablets) v Ridflox-OZ
(Tablets) v Omri-D (Cap.) v Omeol-20 (Cap.) v Gatrim-400
(Tablets) v RimZol-D
(Tablets) v Zine-D (Tablets) Acerim (Tablets) v Acerim Plus
(Tablets) v Acerim-S
(Tablets) v Levozin
(Tablets) v Rimatin-10
(Tablets) v Ayu-Plus
(Tablets) v Gliri-M2
(Tablets) v Rimtron
(Tablets) v Reofer (Syp. 200
ml.) v Mefdin (Tablets) v Rimbon-500
(Tablets) v Alfarim-C
(Tablets) v Vomino (Tablets) v Oxi-R (Cap.) v Rimforce
(Tablets) v Serim-D
(Tablets) v Pro-R (Protein
Powder Granules 200 gm.) |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit (30 days - 45
days) |
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Purchasing : |
L/C, Cash |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
10 – 12 |
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Bankers : |
ICICI Bank Driving Road Branch |
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Banking
Relations : |
Satisfactory |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 millions |
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Borrowed : |
- |
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Total : |
Rs. 2.500 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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6.000 |
5.000 |
Expected Sales (2007-08): Rs. 10.000 millions
LOCAL AGENCY FURTHER INFORMATION
Website details attached:
Hygiene is the primary and the strongest pillar on which the sky
scrappers of the pharmaceutical sector firmly stand. Subject
is one of the progressive manufacturers, exporters and suppliers
of high grade pharmaceutical formulations. The
company offers a gamut of tablets, capsules, syrups, etc. for various ailments such as Rim-AS
syp., Enzo syp. 200 ml. R-Gel susp. 170 ml., Recharger energy powder 210/105
gm., Levorim-500 tablets, Rabiole-20 tablets, Rabiole-D tablets, Roxrim-A tablets,
R-Min Plus tablets, etc.
They are professionally managed by a group of highly qualified and experienced
professionals having expertise in their respective domains. Their company is
the complete amalgam of advance machines, research facilities, well trained
workforce and a capacious warehouse that provide us an exact equation to
manufacture excellent solutions for the masses.
They follow stringent quality control measures at every level of their
manufacturing process to ensure flawless production. All their products are
manufactured as per the standards laid down in WHO-GMP, Schedule-M and other
internationally accepted quality standards. Their mission is to know the
buyers' requirements and deliver them an array of excellent solutions that
always exceeds their expectations. The impeccable quality and client oriented
approaches have helped the company to earn a dignified reputation in both the
domestic and international market.
Quality Assurance
Subject strictly adheres to world class quality management
system that ensures the production of superior products, high on every
parameter of health and hygiene. Their quality management system comprises of
several inspection procedures and quality tests to ascertain that not even a
shadow of impurity mars their drugs. The manufacturing process of the company
is as per standards laid down in WHO-GMP, Schedule-M and other international
quality standards, providing final stamps of reliability to their products.
Health and Hygiene
Every product at Subjects is manufactured under a clean and
hygienic environment. The production is carried out by employing the latest
machines under strict supervision of well trained staff, facilitating the production
of quality assured products. Every product is packaged in air tight packaging
that not only protects the goods from any sort of contamination or damage but
also enhances the worth of the product.
Excellent Manpower
They are promoted by a group of professionals having deep
understanding of the discipline and a strong commitment towards quality &
innovation. All the departments are headed by competent and technically skilled
professionals who work round-the-clock to innovate the latest formulations for
mass consumption.
Infrastructure
They know that for surviving in today's cut-throat scenario,
a robust infrastructure remains a pre-requisite. Thanks to their ultra modern
setup that strengthens us in fulfilling all their business objectives. They are
empowered with the latest standardized machines and competent professionals at
every level of their process to execute each task efficiently and smoothly.
The following are the main features of their infrastructure:
- A sound
infrastructure armored with advance and innovative technology
- Right
combination of personnel, machines - the total operating system
- Meeting the
exacting requirements of the customers and standards of the industry
- Upgradation
of machinery with the latest techniques
- Team of
experts to monitor the manufacturing process
- Regular
investment to promote knowledge in the area of technical development,
research and production.
Primary Competitive Advantages
v Impeccable quality
v
Reasonable prices
v
Timely delivery
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. 40.34 |
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1 |
Rs. 83.08 |
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Euro |
1 |
Rs. 55.80 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
5 |
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--LEVERAGE |
1~10 |
5 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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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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45 |
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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