MIRA INFORM REPORT
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Report Date : |
10.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
NUTRON PHARMACEUTICALS PRIVATE LIMITED |
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Registered
Office : |
57/61, Kika Street, Vyas Bhuvan, 1st Floor, Gulalwadi,
Mumbai – 400004, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2006 |
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Date of
Incorporation : |
12.10.1990 |
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Com. Reg. No.: |
11-58515 |
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CIN No.: [Company
Identification No.] |
U24230MH1990PTC058515 |
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IEC No.: |
0391157892 |
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TAN No.: [Tax Deduction
& Collection Account No.] |
MUMN09475E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Importing and trading of Chemicals, Organic and Inorganic Dyes,
Intermediates and Solvents. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit
Limit : |
USD 150000 |
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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 satisfactory
track. Directors are 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 any normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered
Office : |
57/61, Kika Street, Vyas Bhuvan, 1st Floor, Gulalwadi,
Mumbai – 400004, Maharashtra, India |
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Tel. No.: |
91-22-66313427 |
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Fax No.: |
91-22-23445274 |
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E-Mail : |
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Area : |
250 sq. ft. |
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Location : |
(Owned) |
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Warehouse : |
Purna Village, Bhiwandi, District Thane, Maharashtra |
DIRECTORS
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Name : |
Mr. Popatlal H. Shah |
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Designation : |
Director |
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Address : |
9th Khetwadi Lane, 10, Pavapuri
Apartment, 5th Floor, Mumbai – 400 004, Maharashtra, India |
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Date of
Birth/Age : |
65 Years |
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Qualification : |
S.S.C. |
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Experience : |
40 Years |
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Date of
Appointment : |
12.10.1990 |
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Name : |
Mr. Ramesh H. Shah |
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Designation : |
Director |
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Address : |
9th Khetwadi Lane, 10, Pavapuri
Apartment, 5th Floor, Mumbai – 400 004, Maharashtra, India |
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Date of
Birth/Age : |
54 Years |
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Qualification : |
B. E. CIVIL |
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Experience : |
20 Years |
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Name : |
Mr. Manish B. Shah |
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Designation : |
Director |
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Address : |
29, Yojana Building, Girgaon Co-operative
Housing Society, S. V. Road, Mumbai – 400 004, Maharashtra, India |
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Date of
Birth/Age : |
34 Years |
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Qualification : |
B. E. (Chemical) |
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Experience : |
13 Years |
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Name : |
Mr. Jayesh P. Shah |
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Designation : |
Director |
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Address : |
9th Khetwadi Lane, 10, Pavapuri
Apartment, 5th Floor, Mumbai – 400 004, Maharashtra, India |
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Date of
Birth/Age : |
33 Years |
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Qualification : |
B. E. (Chemical) |
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Experience : |
13 Years |
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Name : |
Mr. Dinesh P. Shah |
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Designation : |
Director |
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Address : |
9th Khetwadi Lane, 10, Pavapuri
Apartment, 5th Floor, Mumbai – 400 004, Maharashtra, India |
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Date of
Birth/Age : |
31 Years |
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Qualification : |
B. COM |
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Experience : |
5 Years |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Family Members |
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4830 |
BUSINESS DETAILS
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Line of Business
: |
Importing and trading of Chemicals, Organic and Inorganic Dyes,
Intermediates and Solvents. |
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Agencies Held : |
BASF – Germany Rhodia – France |
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Imports from : |
China, Germany, France, Japan, Switzerland, USA and Europe [Dyes,
Organic and Inorganic Chemicals] |
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Terms : |
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Selling : |
L/C, Cash and Credit (60 days) |
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Purchasing : |
L/C and Credit (90 days) |
GENERAL
INFORMATION
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Customers : |
Retailers and End Users |
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No. of Employees
: |
14 |
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Bankers : |
Vijaya Bank Gamdevi Branch Citi Bank Fort, Mumbai, Maharashtra The Sangli Bank Limited Fort, Mumbai, Maharashtra ICICI Bank Nariman Point, Mumbai - 400 021, Maharashtra |
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Facilities : |
Credit Limit : Rs. 30.000 millions |
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Banking
Relations : |
Good |
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Auditors : |
V. C. Shah & Company Chartered Accountants, 12/13, Sahid Bhagat Singh Road, Rajgir Chambers, 3rd Floor,
Opposite Old Custom House, Fort, Mumbai – 400001, Maharashtra |
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Tel. No.: |
91-22-22634021 |
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-Fax No.: |
91-22-22662667 |
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E-Mail : |
vcshahco@vsnl.com |
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Associates : |
Hindustan Speciality Chemicals 57/61, Kika Street, Vyas Bhuvan, 1st Floor, Gulalwadi, Mumbai – 400004, Maharashtra, India Tel. No. 91-22-66313427 Fax No. 91-22-23445274 E-mail : nutron@vsnl.com / jayhind@mtnl.net.in Importers and traders of organic and
inorganic, dyes, intermediates and solvents. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs. 100/- each |
Rs. 2.500
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
483 |
Equity Shares |
Rs. 100/- each |
Rs. 0.483
million |
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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0.483 |
0.483 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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41.170 |
21.618 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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41.653 |
22.101 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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31.539 |
18.115 |
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TOTAL BORROWING |
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31.539 |
18.115 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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73.192 |
40.216 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.239 |
0.141 |
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Capital work-in-progress |
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0.000 |
0.000 |
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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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24.798 |
17.178 |
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Sundry Debtors |
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54.598 |
26.165 |
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Cash & Bank Balances |
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3.336 |
2.930 |
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Other Current Assets |
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6.144 |
6.682 |
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Loans & Advances |
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9.845 |
6.580 |
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Total
Current Assets |
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98.721 |
59.535 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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18.368 |
12.060 |
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Provisions |
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7.400 |
7.400 |
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Total
Current Liabilities |
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25.768 |
19.460 |
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Net Current Assets |
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72.953 |
40.075 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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73.192 |
40.216 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover
[including other income] |
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182.538 |
125.399 |
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Profit/(Loss) Before Tax |
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19.550 |
11.661 |
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Provision for Taxation |
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0.000 |
4.400 |
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Profit/(Loss) After Tax |
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19.550 |
7.261 |
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Import Value |
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156.064 |
104.938 |
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Total Expenditure |
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14.541 |
11.391 |
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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10.71 |
5.79 |
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Net Profit Margin (PBT/Sales) |
(%) |
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10.71 |
9.29 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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19.75 |
19.54 |
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Return on Investment (ROI) (PBT/Networth) |
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0.46 |
0.52 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.37 |
1.70 |
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Current Ratio (Current Asset/Current Liability) |
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3.83 |
3.05 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
Subject was incorporated on 12th October, 1990 at Mumbai in
Maharashtra having Company Registration Number 58515.
Subject was originally established in the year 1989, as a sole
proprietory concern and later on, it was converted into a private limited
liability company.
Subject is in trade terms with the following:
v
Sun Pharmaceuticals Limited
v
Dr. Reddy’s Laboratories, Hyderabad
v
Cadila Healthcare Limited
v
Ranbaxy Laboratories Limited
v
BASF, Germany
v
Hurls, Germany
v
Priti Intermediates
v
Avik Pharmaceuticals
v
Amine Industries
v
Hickson & Dackjee Limited
v
Supreme Industries Limited
v
Cosmo Polymers
Generic Name of Principal Product/Service of the company is:
Ø Drugs
We visited the office of the company where following observations were
carried on:
v
Name Board could be sighted and the visibility of the Name Board is
high.
v
The company's office is easy to locate.
v
Items such as Telephone, Fax Machine and Computers could be seen at the
company’s office.
The company’s fixed assets of important value include computer, EPABX,
pager, mobile phone, fax machine, etc.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.44.27 |
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UK Pound |
1 |
Rs.85.54 |
|
Euro |
1 |
Rs.58.23 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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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 |
NO |
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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 |
|
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
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 |
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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 |
|
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 |
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