MIRA
INFORM REPORT
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Report Date : |
25.06.2007 |
IDENTIFICATION DETAILS
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Name : |
FINE CARE BIOSYSTEMS |
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Registered Office : |
228 / 1 / 4, Dantali Industrial Owner Association, Gota Vadsar Road,
Dantali, Gandhinagar 382721, Gujarat |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2000 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMF00381D |
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PAN No.: [Permanent
Account No.] |
AABFF3176F |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the partners. |
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Line of Business : |
Manufacturer and Exporter of Micropipettes and Accessories |
RATING & COMMENTS
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MIRAs 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 40000 |
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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 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 : |
228 / 1 / 4, Dantali Industrial Estate, Gota Vadsar Road, Dantali, Gandhinagar
382721, Gujarat |
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Tel. No.: |
91-2764-286641 / 286834 / 5 / 6 |
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Mobile No.: |
91-9376119388 / 9377365056 91-9377368056 (Mr. Parixit Soni) 91-9825051140 (Mr. Tejas Shah) |
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Fax No.: |
91-2764-286643 |
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E-Mail : |
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Website : |
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Area : |
Constructed Area 10000sq.fts |
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Location : |
Owned |
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PARTNERS
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Name : |
Mr. Tejas Shah |
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Designation : |
Partner |
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Date of Birth/Age : |
30 Years |
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Qualification : |
Graduate |
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Experience : |
10 Years |
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Name : |
Mr. Chirag Shah |
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Designation : |
Partner |
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Date of Birth/Age : |
45 Years |
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Qualification : |
Graduate |
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Experience : |
15 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Micropipettes and Accessories |
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Products : |
Digital Micropipettes, Lab Micropipettes,
Clinical Micropipettes, Research Micropipettes, Fix Volume Digital Micro
Pipettes, Variable Volume Digital Micropipettes And Autoclavable
Micropipettes. |
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Brand Names : |
ACCUMAX |
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Exports : |
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Products : |
All Products |
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Countries : |
All countries mainly |
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Terms : |
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Selling : |
Cash, Advance Payments |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers, Distributors |
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No. of Employees : |
120 |
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Bankers : |
Citi Bank State Bank of |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Fine Care Corporation 3 Floor, Sun House, Behind Old High Court, Line of Business: Same activity |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.10.000 millions |
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Borrowed : |
- |
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Total : |
Rs.10.000 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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38.000 |
60.000 |
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Expected Sales (2007-08) : Rs.90.000 millions
LOCAL AGENCY FURTHER INFORMATION
Company Details:
Subject is a part of the Fine Care Group of companies. Fine
Care Bio systems operates in international market while Fine Care Corporation
takes care of Indian market.
Subject is Located at Ahmedabad, the Capital city of the most industrialized
Indian State- Gujarat, they realized the need for the high quality product for
liquid handling in the laboratory and dedicated themselves to research and
development for two years before launching the pipettes.
Subject manufactures high quality micropipettes and accessories for use in
Clinical, Research and Industrial Laboratories under the brand name
"ACCUMAX". With in a short time, ACCUMAX has become a well know brand
name in liquid handling industry.
As part of its marketing strategy subject also offers Calibration &
training services for easy maintenance through its network of distributors.
They are determined to come out with more of such high quality yet affordable
laboratory devices in the near future.
Products:
Single Channel
Cover ranges
from 0.1 ΅l to 5000 ΅l.
Individual Calibration report.
Calibration as per the standard of EN ISO 8655.
Beautifully color coded for easy volume identification.
Multi Channel
Leak free
sealing
One hand tip ejection
Easy removable & fully autoclavable manifold
Cover ranges from 0.5 ΅l to 300 ΅l in 8 Channel & 12 Channel.
Beautifully color coded for easy volume identification.
Each pipette has its individual Sr. No. and a Calibration Report
enclosed as
pre-dispatch quality check.
Calibration as per the standards of EN ISO 8655.
Jr. Pipette
Minimum size
with maximum accuracy.
Calibration through EN ISO 8655
Two stop plunger
Fully Autoclavable
Beautifully color coded for easy volume identification.
Low price
Stand
4 Pipette
Acrylic stand
6 Pipette Acrylic stand
OEM Offer
Accumax micropipettes are ergonomically
designed and manufactured from high performance materials to offer resilience
required from pipettes subjected to regular usage for accurate and precise
liquid dispensing. Their dedication, continuous development and improvement
gives you more innovative products with quality performance. Along with their
service support you would find them as your ideal OEM partner. Subject will
strive to deliver complete satisfaction as per your needs at all times
- They can
supply any of their products in your brand name.
- They can
develop products as per your specifications.
·
They solicit OEM offers all over world including
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 Intl
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 companys 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.40.71 |
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1 |
Rs.81.24 |
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Euro |
1 |
Rs.54.63 |
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 |
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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45 |
This score serves as a reference to assess SCs 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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