MIRA
INFORM REPORT
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Report Date : |
14.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ALKALOIDS CORPORATION |
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Registered Office : |
8, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1967 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALA00242E |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers and Exporters of Phytochemicals, Herbal extracts and Nutraceuticals. |
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. Partners are reported as
experienced and respectable businessmen.
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 : |
8, |
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Tel. No.: |
91-33-22435841 / 22485464 / 22481263 |
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Fax No.: |
91-33-22488449 |
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E-Mail : |
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Website : |
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Area : |
1000 Sq. fts. |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. R K Karnani |
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Designation : |
Partner |
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Name : |
Mr. M L Karnani |
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Designation : |
Partner |
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Name : |
Mr. S L Karnani |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Phytochemicals, Herbal extracts and
Nutraceuticals. |
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Products : |
Phytochemicals
Standardized Herbal Extracts
They
are shortly introducing:
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Exports : |
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Products : |
v
Phytochemicals v
Herbal Extracts v
Nutraceuticals |
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Countries : |
Europe, |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C, Credit |
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Purchasing : |
L/C, Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers and End Users |
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No. of Employees : |
12 |
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Bankers : |
Citi Bank N A Kolkata, West |
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Facilities : |
The concern enjoys some facilities from its banker. |
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Satisfactory |
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Banking
Relations : |
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Associates/Subsidiaries : |
Alkaloids Private Limited Kolkata, West |
CAPITAL STRUCTURE
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Capital Investment : |
(Estimated) |
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Owned : |
Rs. 5.000 |
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Borrowed : |
- |
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Total : |
Rs. 5.000 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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400.000 |
LOCAL AGENCY FURTHER INFORMATION
Website details attached:
Profile
Subject is a family
concern. They started their activity at
They have always laid strong emphasis on quality, delivery schedule and proper customer feedback. Use of modern equipments under strict hygienic conditions encompasses each and every phase of processing.
Continual investment in Production and Quality Control facilities enables us to offer high quality products within the stipulated time frame.
Their company has
developed wide contacts and has established strong relationship with raw
material suppliers. They are guaranteed of regular supply of Good Quality raw
materials. They have also encouraged farmers to take up cultivation of
medicinal plants to counter over-exploitation and depletion of certain plant
species
The company has undergone phenomenal growth during the last few years. This has resulted in the Government of India awarding us "EXPORT HOUSE" status.
Following countries have reposed confidence in their products:
Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, China,
Croatia, Czech Republic, Denmark, Egypt, France, Germany, Hong Kong, Indonesia,
Japan, Korea, Malaysia, Mexico, Nepal, Portugal, Singapore, Slovak Republic,
South Africa, Spain, Sri Lanka, Switzerland, Taiwan, The Netherlands, Turkey,
U.K., U.S.A, Venezuela... and the number is growing
Manufacturing
Subject has been in the
Phytochemicals manufacturing business ever since its inception. They are one of
the leading manufacturers of Phytochemicals in
Manufacturing activity is carried out strictly as per WHO cGMP guidelines and several conventional and modern techniques are used for the isolation and purification of Phytochemicals. Many of their products are distributed by leading Analytical Reagent companies.
The rich experience of their people in the field of Natural Products and their innovative approach has been their strength.
They also take up bulk production of newly discovered molecules for their
valued customers on an exclusive basis.
They lay special emphasis on:
v Using dedicated equipment to avoid cross-contamination
v Validation of equipment & critical processing steps.
v Training of personnel
v Self-Inspection
Herbal Extracts and
Nutraceuticals
Their Herbal Extracts
manufacturing facility houses a Falling Film Evaporator (FFE) and Spray Dryer
apart from the normal machinery required for extraction of Crude Drugs.
Extraction is carried out with adequate care and strictly as per the
requirement of a particular product. Extracts are concentrated at low
temperatures, ensuring that the active ingredients retain their character and
undesired artifacts are not formed.
Drying of Extracts is carried out in Spray/Vacuum Dryers under hygienic
conditions.
In order to meet the growing demand for Nutraceuticals in developed countries,
they have set up a state of the art Nutraceuticals manufacturing facility
recently.
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. 40.84 |
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1 |
Rs. 80.47 |
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Euro |
1 |
Rs. 54.32 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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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 |
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 |
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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50 |
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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