MIRA
INFORM REPORT
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Report Date : |
16.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
SOLOMON BIOPHARMA AND RESEARCH |
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Registered Office : |
513-514, 5th Floor, Jaina Tower-I, Janakpuri District Center, Jankpuri, New Delhi-110 058 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2002 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers, Exporters and Importers of Herbal Medicines and Herbal Products. |
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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Maximum Credit Limit : |
USD 260000 |
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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 proprietory concern engaged in the business as Manufacturer, Exporter and Importer of herbal medicines and herbal products. Proprietor is well experienced and a resourceful businessman. The concern’s business is progressing satisfactorily. Trade relations are reported as 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 : |
513-514, 5th Floor, Jaina Tower-I, Janakpuri District Center, Jankpuri, New Delhi-110 058 |
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Tel. No.: |
91-11-25572408/ 41588665/ 41588971/ 66406559 |
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Mobile No.: |
91-9868051291/ 91-9999887454 |
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Fax No.: |
91-11-25572408 |
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E-Mail : |
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Website : |
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Area : |
1600 sq. ft. |
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Location : |
Owned |
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Factory : |
Plot No. 1414, MIE Bahadurgarh Industrial Area, Bahadurgarh, Haryana |
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Area : |
15000 sq. ft. |
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Location : |
Owned |
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Group Companies: |
v Solomon Technologies Solomon Technologies Limited, 513, 513C, 514, Jaina Tower-1, District Centre, Janak Puri, New Delhi-110058 Tel : 91-11-25572408/ 41588971/ 66406559/ 41588665 Fax : 91-11-25572408 E-mail : info@solomontechnologies.org. / Website : www.solomontechnolories.org. |
SOLE PROPRIETOR
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Name : |
Mr. Rajendra Kumar |
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Designation : |
Proprietor |
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Address : |
279/ C/ B, Vipin Garden, Najafgarh Road, New Delhi, India |
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Date of Birth/Age : |
40 years |
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Qualification : |
Post Graduate B Pharma with M.B.A. |
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Experience : |
23 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Exporters and Importers of Herbal Medicines and Herbal Products. |
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Products : |
v Be Virgin Care v Be Virgin Breast Care v Bhras Tab : A Brain Tonic (Anti Ageing formula, retention of memory) v Hep-1 Syrup : Correct Hepatitis Disorders (Ideal choice in Toxima in Pregnancy) v Hep-1 Tab v Hex-1 Tab v Hex-Syrup : (Whopping Cough, Tonsillitis and other respiratory allergic Conditions) v Co-Hex Tab : (for Asthma, Whopping Cough, Cough) v Dibonil : (Anti Diabetic-Controls Blood Sugar Level) v Evenol : (Infertility, Menorrhagia, Dysmenorrhoea, Ologo-menorrhoes, Leucorrhoea) |
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Brand Name: |
Solomon |
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Exports : |
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Products : |
Herbal Medicines and Herbal Products |
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Imports : |
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Products : |
Herbal Products |
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Countries : |
Korea and Philippines |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
v Developers Den Labs J. V. ( a Korean Joint Venture Company) v Deepin Pharmaceuticals v Shane Pharmaceuticals v Novell Pharma |
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No. of Employees : |
46 |
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Bankers : |
v Canara Bank, Safdarjung Development Area, IIT Gate, New Delhi v State Bank of
India, Janakpuri, New Delhi, India |
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Facilities : |
Cash Credit – Rs. 10.000 Millions from State Bank of India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Virender Kapur and Associates Chartered Accountants |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 120.000 Millions |
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Borrowed : |
- |
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Total : |
Rs. 120.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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65.000 |
45.000 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
Subject was established in the year 2002 at New Delhi in India as a sole proprietary concern.
BUSINESS
Subject is engaged in the business as Manufacturers and Exporters of Herbal Medicines and Herbal Products.
Subject is an authorised distributor for Bio-Pharma products and imports herbal products from Korea, Philippines. Subject further claims that subject has already tied up with a Philippines based company Ecarma Limited for its world renowned brand of “NARRA” for the treatment of HIV.
Website Details
Attached:
Subject is a luxury heritage spa resort located in the heart of The City of Temples, Amritsar. Operated personally by one of Amritsar oldest families with three generations of experience in the hotel industry, Solomon is a good reason in itself to visit the city. Houses in possibly the oldest building remaining in Amritsar which, in the 19th and early 20th centuries was used as a guest house by visiting officials from the UK and other countries. History at Solomon is brought alive for their guests travelling from all over the globe.
The beautiful colonial style architecture, large lawns and ancient trees create
a peaceful and idyllic respite from the bustle of daily life and are the
perfect base for any visit to Amritsar, be it for work, pleasure or relaxation.
The Spa Pavilion is a perfect pamper zone for the tired traveler, worn
businessman and the spa enthusiast. Between massages visit the Golden Temple,
Durgiana Temple, Jallianwala Bagh or the India Pakistan border at Wagah or
sample the delights of Amritsar’s famous foods with a choice of organic
products.
Profile:
Subject is a company based on true values of Bhagwan Dhanvantri the Lord of Ayurveda. Ayurveda defined in two basic categories i.e. Ayur and Ved. Ayur the natural herb from nature and Ved mean studies. Ayurveda believes to fight the cause of the ailment rather than the symptoms of it. Thus defined the whole studies into three basic categories. VAT, PITH. AND KUFF, Ayurveda believes that all whatever ailment a human body has is caused by the imbalance of these three basics. Vat as they define the Air. Pith as they define the acids, Cuff as they define the Resha or cough.
Subject has been working since years on the research and development of the basics of Ayurvedic and herbal medicinal studies. As they believe nature has provided all the remedies in itself and cured every ailment with the nature in its vicinity. A path relating to millions of years tradition has been practiced in India under the Vedic themes of Ayurveda. They the people at Subject dedicate and pledge for caring the mankind.
The product formulation and its production line up have been controlled in lieu of the context of Modernized manufacturing standards and under GMP Norms. The formulation as researched and developed took years to concrete the basic needs and curing in the uses of ailments.
They the people at Solomon believe that real extracts and ethical processing can even cure the dreadful diseases, which the modern world believes still not curable.
Subject has been developed by the promoters who dedicated their whole life in the promotion of Ayurveda. Considering the present uses and adverse effects of different chemical therapies which has reduced the potentialities of a human. Everyday they come across several new highly efficient chemically produced medicines but forget the severe adversities caused by it.
Subject with its team of most dedicated and efficient doctors have understood the basic needs of the present day life and produced the things accordingly.
All the formulation and products are so designed to give the best efficacy and more resistible life. The product range matches the Eco-friendly and Human friendly so as to give the inner power to fight the Disease.
Subject has planned a Research based manufacturing unit dedicated for the service of human Race. The promoters of the Subject believe its growth and achievements through its R&D and world class manufacturing standards. The company has put more emphasis on the products purely based on the research and thousand of years epic formulation.
Subject has launched its different ranges of product lines in Ethical , O.T.C and Classical under the brands of SOLOMON.
Subject has its vision and commitment for the sincere growth and development of Ayurveda.
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 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. 39.35 |
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UK Pound |
1 |
Rs. 80.52 |
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Euro |
1 |
Rs. 57.56 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
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 |
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45 |
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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