MIRA
INFORM REPORT
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Report Date : |
16.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
SEVANTILAL AND KANTILAL COMPANY |
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Registered Office : |
Gala No.6 (A), Building No.13, Shree Arihant Complex, Kopar Village,
Bhiwandi, Thane |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1932 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Distributor of pharmaceutical formulations |
RATING &
COMMENTS
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MIRA’s 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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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 concern having satisfactory track. Trade
relations are fair. 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 : |
Gala No.6 (A), Building No.13, Shree Arihant Complex, Kopar Village,
Bhiwandi, Thane, India |
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Tel. No.: |
91-9525-22271930 |
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Mobile No.: |
91-9821127808 |
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Fax No.: |
91-9525-22271932 |
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E-Mail : |
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Website : |
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Area : |
8000 sq. ft. |
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Location : |
Rented |
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Head Office : |
7, Mangaldas Road, Dawa Bazar, Princess Street. |
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Tel. No.: |
91-22010810 |
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Location : |
Owned |
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Corporate Office : |
3-A, Shiv Sagar Estate, Dr. Annie Besant Road, Worli, Mumbai – 400018,
India |
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Location : |
Owned |
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PARTNERS
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Name : |
Mr. J. P. Shah |
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Designation : |
Partner |
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Date of Birth/Age : |
80 years |
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Qualification : |
Post – Graduate (BA-LLB) |
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Name : |
Mr. Sameer Shah |
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Designation : |
Partner |
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Date of Birth/Age : |
41 years |
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Qualification : |
Grad |
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Name : |
Mr. Mahesh Shah |
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Designation : |
Partner |
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Date of Birth/Age : |
58 years |
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Qualification : |
Graduate |
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BUSINESS DETAILS
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Line of Business : |
Distributor of pharmaceutical formulations |
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Agencies Held : |
·
Vluecross Laboratories ·
East India Pharmaceuticals ·
BMS |
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Terms : |
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Selling : |
Cash and Credit (15-30 days) |
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Purchasing : |
Cash and Credit (15-30 days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
40 |
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Bankers : |
Union Bank of India, Princess Street Branch |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S. I. Moghal Chartered Accountants |
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Address : |
Nariman Point, Mumbai |
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Associates/Subsidiaries : |
·
Anuh Pharma Limited ·
Eskay Fine Chemicals. ·
Skant Healthcare Limited ·
Sevak Pharma Private Limited ·
Abbott Laboratories (India) Private Limited ·
Fulford (India) Limited ·
East India Pharmaceuticals Works Limited ·
Duchem – Abbott Laboratories (India) Private Limited ·
Blue Cross Laboratories |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
Not Available |
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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150.000 |
135.000 |
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Expected Sales (2007-08) : Around 10% than previous year
LOCAL AGENCY
FURTHER INFORMATION
Website
details:
Sevantilal and Kantilal Group (SK Group) inaugurated its new
central warehousing depot for Bristol Myers Squibb (BMS) India. SK Group has been
appointed by BMS India as their distributors for the concern pharma products in
India. The recent move came with an inauguration of the central warehousing
depot at SK Group's Bhiwandi premises.
SK Group will now function as BMS India's central warehousing agent as well as
a distributor for Maharashtra for all its current and future products. The
initial investment put in this venture is around Rs.100 lakes. At present, this
partnership will look at distribution of two of BMS's products that are currently
being imported and marketed in the country. They aim to increase the product
list to seven in 2006. The deal between two concerns came into existence in
July 2004 after BMS's visit to S K Group's Bhiwandi premises, which houses
their various warehousing depots. In addition to acting as an all India
distributors, SK Group will also offer BMS (India) services of a stockist, APIs
and formulation contact manufacturers.
"Their credibility in the market is built on the basis
of right kind of qualitative services and integrity that they bestow upon their
clients. Their goodwill is generated when company's like BMS approach their
clients and get their recommendation for their services," said Bipin Shah,
Managing Director of SK Group.
Current scenario in India is quite enthusiastic because
increasing number of MNC's are willing to make investments in distribution and
warehousing. It is a known fact that in case MNCs invest in their own unit for
warehousing and undertake distribution activities themselves, costs would be
very high. On the contrary, if they outsource this job to a companies like SK
Group, which has years of experience and expertise in this area, they would
stand to benefit, as they would still gain huge benefits from the same
activity.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.28 |
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UK Pound |
1 |
Rs.80.87 |
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Euro |
1 |
Rs.57.68 |
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 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
YES |
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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 |
NO |
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TOTAL |
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46 |
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. |
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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