MIRA
INFORM REPORT
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Report Date : |
03.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
AROSOL CHEMICALS PRIVATE LIMITED |
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Registered Office : |
4 / 1346/2, Gali No. 1, Jwala Nagar, Saharanpur – 247001, Uttar
Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
06.04.1987 |
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Com. Reg. No.: |
008667 |
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CIN No.: [Company
Identification No.] |
U24112UP1987PTC008667 |
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IEC No.: |
MRTA00454G |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTA00454G |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturers And Exporters Of Vaterinary Products Herbal Feed
Supplements, Immune Boosters, Medicines. |
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. |
Small |
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Maximum Credit Limit : |
USD 10296 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company having mediocre track. Profit margin is
low. Financial position is moderate. Payments are reported as slow but
correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
4 / 1346/2, Gali No. 1, Jwala Nagar, Saharanpur – 247001, Uttar
Pradesh |
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Factory 1 : |
B – 4, Industrial Estate, Delhi Road, Saharanpur – 247001, Uttar
Pradesh |
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Tel. No.: |
91-132-2765447 / 448 |
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Fax No.: |
91-132-2764065 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Krishan Lal Arora |
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Designation : |
Director |
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Address : |
H No. 1346 /2, Gali No. 1, Jawala Nagar, Saharanpur, Uttar Pradesh –
247001 |
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Date of Birth/Age : |
11.06.1953 |
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Date of Appointment : |
10.01.1996 |
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Name : |
Mrs. Neeru Arora |
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Designation : |
Director |
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Name : |
Mr. Anshul Arora |
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Designation : |
Director |
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Address : |
H No. 1346 /2, Gali No. 1, Jawala Nagar, Saharanpur, Uttar Pradesh –
247001 |
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Date of Birth/Age : |
24.03.1980 |
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Date of Appointment : |
02.09.2003 |
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Name : |
Mr. Anuj Arora |
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Designation : |
Director |
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Name : |
Mr. Raj Kumar Arora |
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Designation : |
Director |
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Address : |
Gali No. 1, Jawala Nagar, Saharanpur, Uttar Pradesh – 247001 |
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Date of Birth/Age : |
07.06.1960 |
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Date of Appointment : |
06.04.1987 |
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Name : |
Shalini Arora |
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Designation : |
Director |
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Address : |
H No. 1346 /2, Gali No. 1, Jawala Nagar, Saharanpur, Uttar Pradesh –
247001 |
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Date of Birth/Age : |
15.07.1957 |
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Date of Appointment : |
06.04.1987 |
KEY EXECUTIVES
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Name : |
Mr. B. Singh |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Neeru Arora |
8540 |
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Mr. Shalini Arora |
9180 |
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Mr. Sweety Arora |
1790 |
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Mr. Shilpa Arora |
1080 |
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Mr. Anshul Arora |
410 |
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Mr. Dinanath Talwar |
410 |
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Mrs. Lajwanti Arora |
410 |
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Ms. Sushama Mahendru |
400 |
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Mr. Rajan Chawal |
400 |
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Mrs Sachi Chawal |
200 |
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Mr. Jitendra Kumar |
400 |
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Mr. Manish Arora |
310 |
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Mr. Madan Lal Arora |
70 |
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Mr. Kishan Lal Arora |
80 |
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Mr. Mahendra Nath Gupta |
20 |
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Mr. Vipul Arora |
20 |
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Mr. Prince kumar |
200 |
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Mr. Anuj Arora |
50 |
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Mr. Jagdish Arora |
10 |
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Mr. Sanjay Kumar |
10 |
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Mr. Ashok Kumar |
10 |
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Equity Share
Breakup |
Percentage
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Director or Relatives of Director |
95.62 |
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Others |
4.38 |
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Total |
100
% |
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BUSINESS DETAILS
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Line of Business : |
Manufacturers And Exporters Of Veterinary Products Herbal Feed
Supplements, Immune Boosters, Medicines. |
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GENERAL
INFORMATION
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Bankers : |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
K.G. Agarwal P Gopal and Company Chartered Accountant |
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Address : |
Behat Road, Saharanpur – 247001, Uttar Pradesh |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs.100/- Each |
Rs.2.500 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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24000 |
Equity Shares |
Rs.100/- Each |
Rs.2.400
millions |
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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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2.400 |
2.200 |
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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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0.174 |
0.178 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.574 |
2.378 |
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LOAN FUNDS |
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1] Secured Loans |
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9.168 |
6.041 |
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2] Unsecured Loans |
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2.302 |
2.594 |
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TOTAL BORROWING |
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11.470 |
8.635 |
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DEFERRED TAX LIABILITIES |
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0.076 |
0.037 |
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TOTAL |
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14.120 |
11.050 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.901 |
3.184 |
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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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2.324 |
2.226 |
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Sundry Debtors |
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12.320 |
8.077 |
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Cash & Bank Balances |
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0.083 |
0.265 |
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Other Current Assets |
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0.475 |
0.162 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
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15.202 |
10.730 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.400 |
2.708 |
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Provisions |
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0.583 |
0.156 |
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Total
Current Liabilities |
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5.983 |
2.864 |
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Net Current Assets |
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9.219 |
7.866 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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14.120 |
11.050 |
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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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58.993 |
35.898 |
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Total Income |
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58.993 |
35.898 |
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Profit/(Loss) Before Tax |
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0.119 |
0.092 |
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Provision for Taxation |
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0.039 |
0.017 |
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Profit/(Loss) After Tax |
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0.080 |
0.075 |
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Export Value |
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56.870 |
34.610 |
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Total Expenditure |
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56.870 |
34.610 |
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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0.13 |
0.20 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.20 |
0.25 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.59 |
0.66 |
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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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6.78 |
4.83 |
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Current Ratio (Current Asset/Current Liability) |
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2.54 |
3.74 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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Name of the company |
AROSOL CHEMICALS PRIVATE LIMITED |
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Presented By |
State Bank of
India, Court Road, Main Branch, Saharanpur |
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1) Date and description of instrument creating the change |
1. D.P. Note Delivery
Letter General Agreement Ancillary Agreement No. 1 and Ancillary Agreement
no. 3 all Dated 29.01.1996 and Registered on 27.03.1996 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.500 Millions |
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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 |
As per the
agreement dated 29.01.1996 State Bank of
India, Court Road, Main Branch, Saharanpur i) Supplemental general
agreement for the grant of small industrial advances and hypothecation of
goods, book debts and other assets dated 09.09.2004. ii) Agreement for
the grant odf small industrial advances regarding hypothecation of goods,
book debts, movable and other assets (Ancillary Agreement No. 3) dated
09.09.2004 Modified on 22.03.2004 to enhance
charge up to Rs.4.800 millions and provide the additional security of plant
and machinery and to collaterally secure by way of equitable mortgage by
deposit of title deeds and last modification registered on 30.01.2004 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The bank has
granted adhoc export packing credit limit of Rs. 1.000 millions and the total
amount of working capital facilities has been enhanced from Rs.4.800 Millions
To Rs.5.800 Millions. Therefore the total amount of charged secured against
hypothecation of goods, stocks, book debts etc., as mentioned in column
number (3) above and modified as per details abovementioned, has now bee
enhanced from Rs. 4.800 millions To.5.800 millions to secured the following
credit facilities granted by bank to the company |
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5) Name and Address and description of the person entitled to the charge. |
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6) Date and brief description of instrument modifying the charge |
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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. |
The Securities
for the enhanced credit facilities aggregating to Rs.5.800 millions shall now
also include hypothecation of all present and future goods, book debts,
movable and other assets of the borrower including documents of title to
goods and other assets such as outstanding monies investments and right and
all machinery belonging to or in the possession or under the control of the
borrower, wherever lying stored of kept and whether in possession of under the
control of the bank of any third party whether in India or elsewhere through
out the world including all such goods as may be in course of shipment,
transit or delivery. Other terms and
conditions remained the same. |
Web Details Attached
Introduction:
They the pioneer manufacturing Group of Quality Veterinary Products. They
facture's: - Herbal Feed Supplements, Growth Promoters, disease resistants,
Immune boosters, Medicines, Enzymes Blends, Prebiotics, Probiotics:
Lactobacillus, Dry Active Yeast and Feed Additives of vitamins and trace
minerals, which are essential for the growth and productivity of livestock,
poultry, pets and Aqua.
They located in the prime Industrial Area on Saharanpur - Delhi National
Highway in Western Uttar Pradesh bordering Uttaranchal state called as land of
natural herbs near the Himalayan belt of terai that is plentifully rich in
botanical herbs of biological significance and they are easily available to
them. They engaged in the production of veterinary products for more than a
decade. The quality of their products has been applauded and accepted in
foreign countries, because of their therapeutic significance. They
exporting products Worldwide and have
wonderful feedback from all the countries
Their acturing system
is internationally standardized according to the guidelines of G.M.P and they
have also been categorized as an "ISO 9001:2000 Company".
HISTORY
The Company
belongs to ' ARORA GROUP' of Enterprises having multifarious activities
incorporated in 1980. where Arosol Chemicals P Ltd. incorporated in 1987 and
the start of Veterinary Business was in 1991. The leading activity however is
the manufacture of herbal products for veterinary purposes, which comprises of
Livestock, Poultry and Aquatic animals & Pets.
Usage of Arosol's
products in welfare of every Animal existing on Earth. We aim the welfare of
all people associated with us. Their
product Users, Veterinarians, Nutritionists, Farmers, Product sellers,
distributors and all other associated with them must be very happy and feel
pleasure to be associated with us. They wish everyone including farmers must
generate good profits using their products.
AROSOL -Ranked No. 1 Manufacturer of Herbal Veterinary Products in National and
International market for their :-
Product Quality
They
follow the best standardize quality norms to ensure the best quality
product which is produced. Their
quality is their reputation, their
Business, their Carrier and Progress.
Product Stability:
They trust in stable business policies for
smooth and life long business relationship. The market they enter, they are
always stable in that market. They
never make any temporary deals. Their
policies are very fair with all people deal with them.
Pricing
They have the clear system of our
products pricing. They just charge the minimum prices on their production cost
with the buyers. They trust on offering the lowest prices with high volumes of
business. They are sure for the prices
and aims the satisfaction of consumer for their worth buying of their product.
Consumers must feel high benefits and low expenditure after using their products
Technical Support
They provide all type of technical support
for the marketing and product registration to all buyers and users of their
products. All kind of documentation related to Product Dossiers, Technical
files related manufacturing process and their testing, Product presentations and
their clinical studies for marketing. Their team of technical people is always
ready to provide all kind of support for marketing of their products.
Existence in Market
They have an existence in almost all parts
of the World and they are growing every year with more and more of new
customer, importers, dealers and sellers of their products.
Product Development
They have a regular process of product
development to support their customers
and to serve farmers and users with better way with more advanced products.
Their R&D team is aggressive to take care of product development as their
prime work and conduct sufficient Product trials in various farms to launch the
product.
They are the Fastest Growing Company in
Veterinary Sector and Targets to be the No. 1 Company for Animal Health
Products. With high emphasis on quality and purity, we manufacture a
comprehensive range of animal health, growth and productivity products.
OPERATIONAL DIVISIONS
- Research and
product development
- Production
- Quality
control/quality assurance
- Marketing/exports
- Finance
- Human
resource
- Purchase
ORGANISATIONAL STRUCTURE
- Managing
Director
- Chief
Executive Officer
- Director
International Business
- Director
Marketing
- Marketing Manager:
Country and State wise Managers with marketing subordinates.
- Purchase
Managers and their Subordinates
- Human
Resource Manager
- Finance
Manager & Subordinates
- Production
Manager, Supervisors, Sub-supervisors & Labor
- Logistics
Manager and Supervisors
- Printing,
designing and advertisement section
PRODUCTION
Company has the good infrastructure in terms of Land, building, Machinery, Man
powder & other operational infrastructure for producing its products. The
factory is situated in the Heart of the Saharanpur City at the most developing
Road called Saharanpur-Delhi National Highway. The factory is equipped with
quality and standardized machinery for its Powder, Liquid, Tablets, Ointments,
Capsules, Aerosol Divisions. The qualified technical staff is imposed to check
and control the process of production at each step. Separate rooms and Halls
are constructed for each division keeping the correct dimensions in mind to
produce quality and well processed products. Adequate labors are available to
handle the production process who are well trained and complies with the
Hygiene norms stated as per the GMP & ISO norms.
MARKETING
The Company has an effective marketing network in the country. It has been
patronized by a number of worthy customers in almost all the states of the
country.
The products are
being marketed in most parts of Asia, several European, America & African
Countries as well. The products are being field Tested in various World Famous
Institutes, Schools & Universities for Cattle, Swine and Poultry. Other
various laboratories have conducted biological trials on the animals. The
products have been found effective and up to the mark with efficacious results.
We have the well qualified and well known distributors in each country who have
good relations with all wholesalers, Veterinarians, consultants & Farmers.
They are trained to provide the proper feed back to our customers to prove them
the utility of the products.
FINANCE
Finance is controlled by the Finance Head who has 5 subordinates to maintain
the accounts at the companies Head Office in Saharanpur. All of them are given
the separate responsibilities to manage the operations through the Head Office.
Other several Accountants and employees are deputed at various regional offices
to manage the sales and other accounts and provide the final reporting to the
Head Office. The finance division of the company if strong enough to handle any
kind of situation to run the organization. Company have very good reputation
among suppliers and in market where they can generate any quantities of goods
or services any time from the market.
PURCHASE
Searate purchase managers are deputed to purchase the goods at the best prices
and with considering all the factors including raw material quality, supply
schedule, payment conditions & credibility of the suppliers. These factors
are very important for Arosol to make the further commitment to their
customers.
HERBAL PRODUCTS
ARE BETTER THAN CHEMICAL CURE. HOW ????????
- Creates long term immunity on regular usage · No withdrawal period
before slaughter
- Easily Available and cost effective being natural source
- No Toxicity caused in Meat
- No chemical residue in mean and produce better taste of meat
- Do Not show any teratogenic effect during pregnancy
- Environment friendly in nature
- Higher Stability
- Do not show any drug resistance activity against etiology
- Growth Promoters and Metabolic Modifiers
- Best Preventive Therapy if used as Feed Additive for regular
consumption
- Best remedies for disease at acute stages
- Best Supportive therapy in chronic stage, if used with other
treatments
- Help Regulate metabolism naturally
- No adverse effect in Hormonal secretion
- Herbs used as prebiotics · Herbal Therapies focus on the root
causes , more than the symptoms of degenerative diseases
- No adverse/side effect in body
- Show complimentary effect with substances present inside the body.
- Dosage inside the body are self adjustable
- No Hyper-sensitivity reaction
- Easy to utilize by the body cells
- No bad odor & easy to Feed animals (same nature as Feed
Ingredients)
-
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.39.32 |
|
UK Pound |
1 |
Rs.82.08 |
|
Euro |
1 |
Rs.56.96 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
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|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
TOTAL |
|
37 |
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 |
|
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. |
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 |
|