MIRA INFORM
REPORT
|
Report
Date : |
23.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
ARISTO
PHARMACEUTICALS PRIVATE LIMITED |
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|
|
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Registered
Office : |
Mercantile
Chambers, 3rd Floor, 12, J N Heredia Marg, Ballard Estate, Mumbai
- 400 001, |
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Country
: |
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Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
08.11.1971 |
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Com.
Reg. No.: |
11-15425 |
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CIN
No.: [Company
Identification No.] |
U24239MH1971PTC015425 |
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TAN
No.: (Tax
Deduction & Collection Account No.) |
MUMA01273G/MUMA22661C |
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PAN
No.: (Permanent
Account No.) |
AAACA4495N |
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Legal
Form : |
Private Limited Liability Company |
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Line
of Business : |
Manufacturers
and Marketers of Pharmaceutical, Medicinal Chemicals and Botanical Products. |
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
22000000 |
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Status
: |
Good |
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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 businessmen. Their trade relations are fair. Financial position is good. Payments are correct and as per
commitments. The company can be considered good for normal business
dealings. It can be regarded as a promising business partner in a
medium to long-run. |
LOCATIONS
|
Registered
Office : |
Mercantile
Chambers, 3rd Floor, 12, J N Heredia Marg, Ballard Estate, Mumbai
- 400 001, |
|
Tel.
No.: |
91-22-22617909/749/22671436/
22619582 |
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Fax
No.: |
91-22-22615604 |
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E-Mail
: |
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Corporate
Office : |
23-A,
Shah Industrial Estate, Off Tel. No. Fax No. E Mail |
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Tel.
No.: |
91-22-26739999/ 26730002 upto 05 |
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Fax
No.: |
91-22-26734792 |
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E-Mail
: |
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Factory
1 : |
q
Plot No. 208, New Industrial Area No. 2, Mandideep – 462 046, Raisen,
Madhya Pradesh Tel No. 91-7480-233180/233178 q
Survey No. 371, Kunbar Falia, Village Dabhel, Nani Daman – 396 210,
Daman, Tel. No. 91-260-2257990/2253676 Fax No. 91-260-2257956 E Mail : aristdn@quest4india.com
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Distribution
Depots : |
Located
at :- Bangalore,
Kolkata, Chennai, Cuttack, Chandigarh, Delhi, Guwahati, Hyderabad, Indore,
Jaipur, Kochi, Lucknow, Mumbai, Patna, Pune, Ranchi and Raipur |
DIRECTORS
|
Name : |
Mr. Umesh Sharma |
|
Designation
: |
Managing Director |
|
Address
: |
15/203, Embassy Shastri Nagar, Co-operative
Housing Society, Off. |
|
Date
of Birth : |
15.11.1952 |
|
Date
of Appointment : |
12.02.1979 |
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|
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|
Name : |
Mr. Devinder Rai |
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Designation
: |
Whole time Director |
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Address
: |
203, Embassy Shastri Nagar, Co-operative Housing
Society, Off. |
|
Date
of Birth : |
22.03.1963 |
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Date
of Appointment : |
17.04.1997 |
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|
|
|
Name : |
Mr. Ranjit Sharma |
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Designation
: |
Whole time Director |
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Address
: |
15/203, Embassy Shastri Nagar, Co-operative
Housing Society, Off. |
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Date
of Birth : |
26.01.1969 |
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Qualification
: |
01.09.2005 |
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|
|
|
Name : |
Mr. Randhir Kumar Bachan |
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Designation
: |
Whole time Director |
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Address
: |
501, Solitare Apartments, |
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Date
of Birth : |
19.11.1971 |
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Qualification
: |
01.09.2005 |
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|
Name : |
Mr. Samprada Singh |
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Designation
: |
Director |
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|
Name : |
Mr. Rameshwar Sharma |
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Designation
: |
Director |
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|
Name : |
Mr. Kunjbihari A Talpade |
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Designation
: |
Director |
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|
Name : |
Mr. Virendra Sharma |
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Designation
: |
Director |
|
Address
: |
703, A-22, Bakers, Shastri Nagar, Andheri (West),
Mumbai-400053, |
|
Date
of Birth : |
18.01.1969 |
|
Date
of Appointment : |
03.10.2006 |
KEY EXECUTIVES
|
Name : |
Mr. Subodh Prasad |
|
Designation
: |
Company Secretary |
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Address
: |
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MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Mr.
Mahendra Prasad B. Sharma |
13020 |
|
Mr. Umesh
B. Sharma |
680 |
|
Mrs.
Renukadevi U. Sharma |
4160 |
|
Mrs.
Satuladevi M. Sharma |
2990 |
|
Mr.
Ranjit M. Sharma |
1340 |
|
Mr.
Rajeev M. Sharma |
1370 |
|
Mr. Rahul
U. Sharma |
1160 |
|
Mrs.
Umadevi D. Bhatti |
250 |
|
Mr.
Aradhya Rai |
1495 |
|
Mr.
Achintya Rai |
1495 |
All the shares are held by directors or their relaives.
BUSINESS DETAILS
|
Line
of Business : |
Manufacturers
and Marketers of Pharmaceutical, Medicinal Chemicals and Botanical Products. |
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Products
: |
v Broad Spectrum Antibiotic v Aristozyme Liquid Dosestine Enzyme v Flexen v Analsesic and Antipyretic Generic
Names of Three Principal Products of the company are :
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Brand
Names : |
"Alsartan", "Alsartan AM",
"Alsartan-H", "Ambrodil", "Ambrodil Plus", Ambrodil-S", "Aristocillin",
"Aristogyl", "Aristogyl Plus", "Aristogyl – F",
"Aristomox", "Arostpneurol", "Aristoprotone",
"Aristozyme", Bacigyl", "Betaspore",
"Cefekit", "Cefadrox", "Citizol", "Coxina
– 3", "Coxina – 4", "Coxinex", "Fadine",
"Flexofen", "Flexon", "Forcef",
"Glubose", "Glycigon", Glycigon-M",
"Halocef", "Lenteclin", "Mefloc",
"Megapen", "Megapen Neonatal", "Meloset",
"Mikacin", "Mini-Citizol", "Monocef",
"Monocef-O", "Nimodol", "Ofler", "Omnicef",
"Ornida", "Ostebon", "Pantop",
"Promisec", "Protone", "Qucin",
"Ramlo", "Rofib", "Roxem", "Scarab",
"Semi-Glycigon", "Softeron", "Softeron-Z",
"Sparquin", "Spasmo-Flexon", "Stresnil",
"Tabrol", "Tabrol D. S.", "Tabrol S. S.",
"Tobacin", "Tobacin-D", Tromax" and
"Visco". |
PRODUCTION STATUS
|
Particulars |
Unit
|
|
|
Installed Capacity |
|
Antibiotics/Analgesics |
Kg |
|
|
4408 |
|
Digestive
Enzymes and Others |
Kg |
|
|
1067 |
|
Anti-diabetic |
Kg |
|
|
3657 |
|
Cardiovascular |
Kg |
|
|
224 |
GENERAL INFORMATION
|
No. of
Employees : |
215 |
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Bankers
: |
State
Bank of |
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Banking Relations : |
Satisfactory |
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Auditors
: |
K B Lal
Agrawal & Company Chartered Accountants |
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Address
: |
Shri Ram Bhavan, 1st Floor, |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
25000 |
Equity
Shares |
Rs.100/- |
Rs. 2.500 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
24970 |
Equity
Shares |
Rs.100/- |
Rs. 2.497 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 |
2.497 |
2.497 |
2.497 |
|
|
2]
Reserves & Surplus |
5714.839 |
4515.838 |
3853.429 |
|
NETWORTH
|
5717.336 |
4518.335 |
3855.926 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
174.677 |
232.750 |
181.710 |
|
|
2]
Unsecured Loans |
49.193 |
53.240 |
68.470 |
|
TOTAL
BORROWING
|
223.870 |
285.990 |
250.180 |
|
|
|
|
|
|
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TOTAL
|
5941.206 |
4804.325 |
4106.106 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block]
|
305.887 |
216.560 |
207.970 |
|
Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
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Inventories
|
846.623 |
849.577 |
693.895 |
|
|
Sundry Debtors
|
325.651 |
129.764 |
451.108 |
|
|
Cash & Bank Balances
|
4571.462 |
3652.548 |
2942.776 |
|
|
Loans & Advances
|
2109.453 |
1622.513 |
1288.639 |
Total Current Assets
|
7853.189 |
6254.402 |
5376.418 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
Current Liabilities
|
177.810 |
124.442 |
1478.282 |
|
Provisions
|
2040.060 |
1542.195 |
0.000 |
|
Total Current Liabilities
|
2217.870
|
1666.637 |
1478.282
|
|
Net
Current Assets
|
5635.319 |
4587.765 |
3898.136 |
|
|
|
|
|
|
|
TOTAL
|
5941.206 |
4804.325 |
4106.106 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 (Estimated) |
31.03.2005 |
31.03.2004 |
Sales Turnover [including other income]
|
5500.000 |
4435.161 |
4398.729 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
NA |
968.409 |
1090.254 |
Provision for Taxation
|
NA |
306.000 |
340.000 |
Profit/(Loss) After Tax
|
NA |
662.409 |
750.254 |
|
|
|
|
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Export Value
|
NA |
NA |
22.809 |
|
|
|
|
|
Import Value
|
NA |
NA |
48.163 |
|
|
|
|
|
Total Expenditure
|
NA |
346.675 |
3308.475 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
NA
|
14.93
|
17.05 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
NA
|
21.83
|
24.78 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
NA
|
14.96
|
19.52 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
NA
|
0.21
|
0.29 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
0.43
|
0.43 |
1.45 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
3.54
|
3.75 |
3.63 |
LOCAL AGENCY FURTHER
INFORMATION
Form 8 Particular for creation or
modification of charges
|
Name
of the company |
ARISTO PHARMACEUTICALS PRIVATE LIMITED |
|
Presented By |
State Bank of |
|
1) Date
and description of instrument creating the change |
General agreement for the grant fo term advances to small
scale industries and hypothecation and movable book debts other assets dated
04.03.1993. Ancillary agreement A dated 04.03.1993 Ancillary agreement B dated 04.03.1993 Guarantee agreement dated 04.03.1993 All agreements creates a single charge |
|
2) Amount
secured by the charge/amount owing on the securities of charge |
Rs.10.000 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 |
All present and future goods, book debts, movable and
other assets including of title to goods such as outstanding moneys, receivables,
claims, contracts, engagements securities, investments and rights and assets
and present and future machinery. Property at Plot No.208, at Industrial Area, Mandideep,
District Raisen measuring * |
|
4) Gist
of the terms and conditions and extent and operation of the charge. |
Rate of interest : 1.75% above SBAR minimum 19.75% p.a. Repayment : Monthly installment of Rs.0.250 millions and 1st
installments will be paid on 01.10.1993 * approximately 56566.802 Sq. mts. and the property at
Plot No.E-6, in Chikalthana Industrial Area, at |
|
5) Name
and Address and description of the person entitled to the charge. |
State Bank of |
|
6)
Date and brief description of
instrument modifying the charge |
Not Applicable |
|
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. |
Not Applicable |
Website Details :
History :
Subject started its operations in 1971 with a manufacturing
plant at
Subject has a field force of 1200
of which 900 are frontline covering about 1,50,000 doctors in the country
Subject has 17 company owned
distribution depots serving 2000 stockists & a reach of over 60,000 chemists.
MARKET RANKING
Subject is ranked No. 1 in it’s
covered market with a market share of 7.16%
ORG-MARG Data August 2002
Subject is ranked as the No.1 company in
OTSIRA-GENETICA
A business division of subject is reckoned as one of the
most successful new marketing division in
the country with US $ 9 million turnover in 4th year of operation.
ORG-MARG Data August 2002
TOP BRANDS
Subject has 7 brands in the coveted Top 200 brands of the
Indian pharma market
Monocef
(Ceftriaxone)
Mikacin (Amikacin)
Megapen (Ampicillin & Cloxacillin)
Flexon (Ibuprofen & Paracetamol)
Cefadrox (Cefadroxil)
Aristozyme ( A Digestive enzyme)
BRAND LEADERSHIP
7 Brands of
ARISTO are ranked No.1
5 are ranked No.2
4 are No. 3
7 more are at No. 4 position
& 7 are ranked between No. 5 and No. 10
A total of 30 brands marketed are top performers at the market place
The company’s fixed assets of important value includes
Mandideep Unit, Daman Unit, Head office and Branches, Godown Premises, Flat,
Building, Furniture and Fixtures, Office Equipments, Factory Equipments,
Computers and Vehicles.
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.40.71 |
|
|
1 |
Rs.81.24 |
|
Euro |
1 |
Rs.54.63 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT
LINES |
1~10 |
8 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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
|
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 |