MIRA
INFORM REPORT
|
Report Date : |
04.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
UNITED BIOTECH PRIVATE LIMITED |
|
|
|
|
Registered Office : |
E –142 Saket, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
31.01.1997 |
|
|
|
|
Com. Reg. No.: |
55-84814 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24239DL1997PTC084814 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELU02630F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACU1839L |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business : |
Importer,
Distributor & Trader of Medicines & Live Saving Drugs. |
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 150000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established company having satisfactory track records. Directors are reported
as experienced, respectable and resourceful businessmen. Their trade
relations are fair. 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 : |
E-142, Saket - 110017, |
|
Tel. No.: |
91-11-26855082 |
|
Mobile No.: |
91-11-26855082 |
|
Fax No.: |
|
|
Location : |
Commercial |
|
|
|
|
Corporate Office : |
Plot – F, C-Block,
B-1 Mohan Co-operative Industrial Estate, |
|
Tel. No.: |
91-11-26977441/
26977443/ 26977440/ 26955069/ 26940762/ 2677440 |
|
Fax No.: |
91-11-26977444 |
|
Location : |
Industrial |
DIRECTORS
|
Name : |
Mr. Rajiv Kumar |
|
Designation : |
Managing Director |
|
Address : |
E-142, Saket; 110017, |
|
Date of Birth/Age : |
09.04.1963 |
|
Date of Appointment : |
31.01.1997 |
|
|
|
|
Name : |
Ms. Kavita |
|
Designation : |
Whole Time Director |
|
Address : |
E-142, Saket; 110017, |
|
Date of Birth/Age : |
11.10.1970 |
|
Date of Appointment : |
01.08.2002 |
|
|
|
|
Name : |
Mr. Kailash Devi |
|
Designation : |
Director |
|
Address : |
E-142, Saket; 110017, |
|
Date of Birth/Age : |
05.01.1937 |
|
Date of Appointment : |
01.05.2002 |
KEY EXECUTIVES
|
Name : |
P.S &
Associates |
|
Designation : |
Company Secretary |
|
Address : |
130, 1st
Floor, Masjid Moth, South Extention Part – II, |
|
Mobile No. : |
91-9810264956 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
|
No. of Shares |
|
Rajiv Kumar |
|
10 |
|
Kailash Devi |
|
10 |
|
Kavita |
|
10 |
Equity Share Break up:
|
Category |
Percentage |
|
Bodies Corporate |
52.68 % |
|
Directors or relative of Directors |
47.32 % |
|
Total : |
100.00 % |
BUSINESS DETAILS
|
Line of Business : |
Importer,
Distributor & Trader of Medicines & Live Saving Drugs. |
|
|
|
|
Products : |
SOL-U-PRED Mucosys 20% Noralian Aminess-N Umanalbumin 20% Immunorho 300 Isiven V.L. Amphotin Pipralin Taxin Clavox U-Fixim Forzid Cefor Biocalcin Biolac Netmicin NEW RANGE Aprotec Azom Bioglandin Dobutam Follitec Gavir Menotec Milron Noxaparin Otide Streptonase Tecoplan T-pressin |
|
|
|
|
Imports : |
|
|
Product : |
Live saving drugs
and other medicines |
|
Countries : |
|
GENERAL INFORMATION
|
No. of Employees : |
About 200 |
|
|
|
|
Bankers : |
Oriental Bank of
Commerce, Hauz Khas Branch, Standard
Chartered Bank ICICI Bank
Limited |
|
|
|
|
Facilities : |
Cash Credit
facilities with Oriental Bank of Commerce and it is secured by hypothecation
of Stock & Debtors. |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
AVN and Associates Chartered Accountant |
|
Address : |
108/1, Lane No:5, Krishna Nagar, Safdarjung Enclave, |
|
Tel. No.: |
91-11-26101930/26101931 |
|
|
|
|
Group Companies
: |
Subham Udyog
Private Limited Legal Status : Private
Limited Liability Company Date of
Incorporation : 30.11.1981 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
453633 |
Equity Sahres |
Rs.100/-
each |
Rs.45.363
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 |
45.363 |
19.157 |
19.157 |
|
|
2] Share Application Money |
0.000 |
1.635 |
1.635 |
|
|
3] Reserves & Surplus |
75.020 |
20.198 |
3.829 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
120.383 |
40.990 |
24.621 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
39.638 |
16.838 |
1.318 |
|
|
2] Unsecured Loans |
0.000 |
4.571 |
4.871 |
|
|
TOTAL BORROWING |
39.638 |
21.409 |
6.189 |
|
|
DEFERRED TAX LIABILITIES |
1.344 |
1.618 |
0.736 |
|
|
|
|
|
|
|
|
TOTAL |
161.365 |
64.017 |
31.546 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
118.715 |
30.557 |
7.382 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
56.154 |
28.323 |
14.651 |
|
|
Sundry Debtors |
42.362 |
19.755 |
16.976 |
|
|
Cash & Bank Balances |
6.843 |
15.293 |
25.494 |
|
|
Other Current Assets |
23.928 |
0.000 |
0.000 |
|
|
Loans & Advances |
3.764 |
12.711 |
8.889 |
|
Total
Current Assets |
133.051 |
76.082 |
66.010 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
60.412 |
42.622 |
41.885 |
|
|
Provisions |
29.989 |
-- |
0.000 |
|
Total
Current Liabilities |
90.401 |
42.622 |
41.885 |
|
|
Net Current Assets |
42.650 |
33.460 |
24.125 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.039 |
|
|
|
|
|
|
|
|
TOTAL |
161.365 |
64.017 |
31.546 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
302.517 |
174.863 |
133.154 |
|
|
Other Income |
0.767 |
1.098 |
|
|
|
Total Income |
303.284 |
175.961 |
133.154 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
84.538 |
25.653 |
6.006 |
|
|
Provision for Taxation |
29.716 |
9.284 |
2.346 |
|
|
Profit/(Loss) After Tax |
54.822 |
16.369 |
3.660 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
Total Imports |
NA |
NA |
9.308 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Financial Charges |
1.276 |
1.042 |
|
|
|
Amortization |
0.000 |
0.039 |
|
|
|
Depreciation |
4.992 |
2.472 |
|
|
|
Other Expenditure |
240.309 |
160.428 |
|
|
Total Expenditure |
246.577 |
163.981 |
127.148 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
18.08
|
9.30
|
2.75 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
27.94
|
14.67
|
4.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
33.58
|
24.06
|
8.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.70
|
0.63
|
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.08
|
1.56
|
1.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.79
|
1.58 |
LOCAL AGENCY FURTHER INFORMATION
Subject has a number of collaboration and Strategic alliance with
research based multinational companies of
|
Name of the
company |
UNITED BIOTECH
PRIVATE LIMITED |
|
Presented By |
Oriental Bank of
Commerce, Hauz Khas |
|
1) Date and
description of instrument creating the change |
13.05.2002 Agreement of Hypothecation of Assets and Modified on
03.12.2002 registered on 31.12.2002 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs.4.500 Millions |
|
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 |
Hypothecation of
Stocks of raw material, stock-in-process and finished goods and Receivables |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
3.5%p.a above PLR
with a minimum of 15% monthly rests. Penal interest @2%p.a in case of default |
|
5) Name and Address
and description of the person entitled to the charge. |
Oriental of
Commerce, Hauz Khas |
|
6) Date and brief description of instrument
modifying the charge |
04.07.2005
Supplemental Agreement to Secure Credit/ Loan Facilities |
|
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. |
Debtors:40%
|
GROUP PROFILE :
Name of the
Company : Subham Udyog
Private Limited
Legal Status : Private Limited Liability Company
Date of
Incorporation : 30th November, 1981
As Per Web Site:
COMPANY
PROFILE
After two
decades of marketing and industry experiences in various sectors, a
revolutionary movement called "UNITED BIOTECH" was finally
born out of the United Group of Companies in 1997. Armed with a well defined
goal to bring in world's best available therapies at an affordable price and to
serve millions of the Ailing Indians through them.
Since its
inception the company has been spearheaded by a group of Pharma Professionals
who have more than two decades of marketing experience in multinational pharma
companies behind them and have a revolutionary zeal to excel, firmly committed
to bring in only the best products and only those that surpasses their strict
internal quality assessments.
Their
products can be guaranteed for highest possible safety, quality and efficacy
due to its strict adherence to secure high quality raw material source,
reliable and efficacious processes, high quality standards conforming to W.H.O.
and European union Good Manufacturing Practices and Good Automated
Manufacturing Practices where repeatability, traceability as well as accurate
batch and event reporting are key functions in the process.
MANUFACTURING
The Company has its own manufacturing in a new state of art WHO-cGMP
compliant plant at Baddi, Himachal Pradesh having separate blocks for
Betalactam / Non-Betalactam / Cephalosporins / Oncology / Hormones for
manufacturing of Dry powder injectables, Liquid Injectables in vials and
ampoules, Tablets, Capsules, Ointments, Syrups, Eye and Ear drops.
SALIENT FEATURES:
- WHO - cGMP
compliant facility.
- Exclusive
separate blocks for Oncology / Hormones / Betalactam / Cephalosporins and
Non-betalactam.
- HVAC and all
equipments meet international standards.
- Well equipped
QC/QA laboratory.
- Computerised
documentation procedures.
- Large
capacity and high speed machinery.
- Capable of
manufacturing and testing extensive range of products.
- Lyophilization
facility currently under construction.
Plant: Bagbania,
QUALITY CONTROL
- Specialising
in production of high quality injectibles through advance technology.
- Highest
possible quality standards meeting the specifications of US and European
Pharmacopoeias.
- United
Biotech's proprietary manufacturing process are developed by in-house
R&D scientists and technologists.
- Each product
developed by them goes through rigorous Quality Control &
Manufacturing procedures starting with R&D and Pilot scale production.
- All products
manufactured in state-of-the-art production facilities fully compliant to
US FDA / WHO & EEC standards and located in various countries.
- Raw material
sourced from US FDA and EEC approved sources only.
- Product and
control procedures carried out according to international WHO GMP, GAMP,
GLP and GCP standards.
- High quality
of their products based on :
- Secure raw material source.
- Reliable and efficacious processes
- State of the art production facilities.
- State of the art testing equipments.
INTERNATIONAL
COLLABORATION
United
Biotech currently has technical and marketing tie ups with some of the
Multinational and Transnational companies located in various countries. To name
them :
• Esseti Farmaceutici SpA -
• Sirton SpA -
•
• Laboratorios Eron S.A. -
• Fada Pharma S.A. -
• Kedrion SpA -
And while
they manufacture a number of products in the Cephalosporins and Anti-Infective
range through this Licensing and Technical agreements with the above mentioned
foreign principals who periodically audit their manufacturing facilities for
strict adherence to European and W.H.O. Good Manufacturing Practices.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.54 |
|
|
1 |
Rs.80.21 |
|
Euro |
1 |
Rs.54.51 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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 |
|