MIRA
INFORM REPORT
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Report Date : |
27.06.2007 |
IDENTIFICATION DETAILS
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Name : |
CENTRAL DRUG HOUSE PRIVATE LIMITED |
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Registered Office : |
7/28, Vardaan House, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
06.03.1985 |
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Com. Reg. No.: |
020363 |
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CIN No.: [Company
Identification No.] |
U74899DL1985PTC020363 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Chemicals and Chemical Products |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD60000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track
records. Company’s profitability is under severe pressure. It has some accumulated
losses. Payments are reported as slow but correct. The company can be considered normal for small business dealings at
usual trade terms and conditions, with slight caution initially. |
LOCATIONS
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Registered Office : |
7/28, Vardaan House, |
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Tel. No.: |
91-11-23280932/ 23272889/ 23272319/ 23268971 / 41655801 |
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Fax No.: |
91-11-23280932 / 26567540 |
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E-Mail : |
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Website: |
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Branches : |
174, |
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Tel. No.: |
91-22-22057323/ 22035835 |
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Fax No.: |
91-22-22004934 |
DIRECTORS
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Name : |
Mr. Shankar Lal Aggarwal |
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Designation : |
Director |
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Address : |
7/28, Vardaan House, |
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Date of Birth/Age : |
08.07.1955 |
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Date of Appointment : |
16.03.1985 |
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Name : |
Mr. Sunil Kumar Aggarwal |
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Designation : |
Director |
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Address : |
7/28, Vardaan House, |
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Date of Appointment : |
16.03.1985 |
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Name : |
Mrs. Omwati Aggarwal |
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Designation : |
Director |
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Address : |
7/28, Vardaan House, |
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Date of Birth/Age : |
28.07.1943 |
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Date of Appointment : |
16.03.1985 |
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Name : |
Mr. Jai Kishan Aggarwal |
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Designation : |
Director |
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Address : |
7/28, Vardaan House, |
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Date of Birth/Age : |
14.01.1936 |
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Date of Appointment : |
01.08.1996 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Anil Kumar Jain |
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4320 |
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Anita Jain |
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760 |
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Ashok Jain |
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1000 |
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Hukum Chand Jain |
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500 |
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Jai Kishan Aggarwal |
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6760 |
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Manju Jain |
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1000 |
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Meena Jain |
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760 |
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Omwati Aggarwal |
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8980 |
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Baby Priya Aggarwal |
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5050 |
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Baby Radhika Aggarwal |
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2350 |
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Rajesh Jain |
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3710 |
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Master Sachin Aggarwal |
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5080 |
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Salochana Devi |
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2750 |
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Master Sandeep Aggarwal |
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2450 |
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Sanjay Jain |
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1010 |
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Master Sourabh Aggarwal |
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4330 |
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Shankar Lal Aggarwal |
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26520 |
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Baby Shikha Aggarwal |
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2900 |
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Shivani Aggarwal |
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11590 |
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Sudhir Aggarwal |
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590 |
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Sunita Jain |
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760 |
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Veena Aggarwal |
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15580 |
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Shankar Lal Aggarwal (HUF) |
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4660 |
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Sunil Kumar Aggarwal |
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31270 |
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Sunil Kumar Aggarwal (HUF) |
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5320 |
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Total |
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150000 |
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Category |
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Percentage of
Holding |
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Director or relatives of Directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Chemicals and Chemicals Products |
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Products : |
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GENERAL INFORMATION
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Bankers : |
v
Bank of v
ICICI Bank |
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Banking
Relations : |
Satisfactory |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs. 100/- each |
Rs. 15.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs. 100/- each |
Rs. 15.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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15.000 |
15.000 |
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2] Share Application Money |
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3.434 |
2.434 |
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3] Reserves & Surplus |
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0.000 |
0.873 |
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4] (Accumulated Losses) |
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(2.864) |
0.000 |
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NETWORTH |
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15.570 |
18.307 |
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LOAN FUNDS |
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1] Secured Loans |
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25.674 |
21.070 |
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2] Unsecured Loans |
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5.111 |
0.000 |
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TOTAL BORROWING |
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30.785 |
21.070 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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46.355 |
39.377 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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30.285 |
2.601 |
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Capital work-in-progress |
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0.000 |
25.645 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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13.478 |
5.958 |
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Sundry Debtors |
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6.435 |
4.366 |
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Cash & Bank Balances |
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0.332 |
3.384 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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3.617 |
1.264 |
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Total
Current Assets |
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23.862 |
14.972 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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7.700 |
4.821 |
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Provisions |
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0.179 |
0.429 |
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Total
Current Liabilities |
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7.879 |
5.250 |
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Net Current Assets |
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15.983 |
9.722 |
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MISCELLANEOUS EXPENSES |
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0.087 |
1.409 |
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TOTAL |
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46.355 |
39.377 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales |
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21.065 |
9.482 |
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Other Income |
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1.799 |
1.306 |
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Total Income |
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22.864 |
10.788 |
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Profit/(Loss) Before Tax |
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(3.605) |
0.518 |
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Provision for Taxation |
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0.069 |
0.190 |
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Profit/(Loss) After Tax |
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(3.674) |
0.328 |
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Total Expenditure |
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26.469 |
10.270 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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(16.07) |
3.04 |
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Net Profit Margin (PBT/Sales) |
(%) |
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(17.11) |
5.46 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(6.66) |
2.95 |
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Return on Investment (ROI) (PBT/Networth) |
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0.00 |
0.03 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.48 |
1.44 |
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Current Ratio (Current Asset/Current Liability) |
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3.03 |
2.85 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the company |
CENTRAL DRUG HOUSE PRIVATE LIMITED |
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Presented By |
Sundaram Finance
Limited, No. 21, |
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1) Date and description of instrument creating the change |
Loan Agreement dated 17.10.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Finance
Amount Rs. 0.170 Million Interest Rs. 0.026 Million Total Repayable Amount Rs. 0.196
Million |
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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 |
On the security
of no. 1. 2005 Model Mahindra 3 Wheeler – E. No.: A5J95816- Ch.no.:53J60161 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rs. 0.196 Million
is repayable vin 23 monthly installments Rate Of Interest
16.99% 1st
Instalments falls due on 17.10.2005 |
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5) Name and Address and description of the person entitled to the charge. |
Ms. Sundaram
Finance Limited, No. 21, |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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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. |
N.A. |
Profile
Founded in 1981, Subject is specializes in the manufacture of a wide array of premier
chemical products that has found a world wide acceptance for the purity and
quality of its products. Such is their expertise that over the years not only
have they expanded their unit to incorporate the specific needs of their
consumers but have also established a well equipped R&D wing where only the
best and finest materials are used.
Products
They are one of the leading laboratory reagents manufacturers and laboratory
reagents wholesalers. Their product line encompasses over 2000 products and covers
a wide range that includes:
- Laboratory
Reagents
- Bio Chemicals
- Research
Chemicals
- Analytical
Reagents
- HLPC Solvents
- Solvents
- Chemical
Reagents
- Dehydrated
Culture Media
Infrastructure
The company is managed by highly qualified and skilled personnel having years
of experience in conducting the day to day business. They also have a well
equipped and dedicated unit for the manufacture of all the products that
confirm to international GMP standards. Their unit is equipped with a
Hydrogenation facility for high pressure reactions and it also has a separate
facility to take care of poisonous reactions to make the environment
eco-friendly.
Quality
Aim for total customer satisfaction - has been their motto over the years and
they pride theirselves at offering you the very best. All their products are
thoroughly checked and tested at their Quality Control Lab and R & D wing
to ensure their purity, accuracy and sensitivity. Not only this, they also take
utmost care to ensure that the packaging confirms to the International
Standards and helps in preserving the products for a long period.
Clients
Over the years they have been successful to have established their hold not
only in South Asian countries like:
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.40.95 |
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1 |
Rs.81.80 |
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Euro |
1 |
Rs.55.09 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
NO |
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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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32 |
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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