MIRA
INFORM REPORT
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Report Date : |
19.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
CHROMATOPAK ANALYTICAL INSTRUMENTATION (INDIA) PRIVATE LIMITED |
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Registered Office : |
4 Panchratna Apartment 29-B, Goregaon (West), Mumbai – 400 062, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
25.06.1993 |
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Com. Reg. No.: |
11-72583 |
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CIN No.: [Company
Identification No.] |
U33100MH1993PTC072583 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC05584F / MUMC08160F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To manufacture and deal in analytical instrument and spares and accessories
for analytical and scientific instruments. |
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 14708 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established company having satisfactory track.
Trade relations are fair. Financial position is good. Payments are usually
correct and as per commitments. The company is doing well. Its customer base is strong. It can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
4 Panchratna Apartment 29-B,
Goregaon (West), Mumbai – 400 062, Maharashtra |
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Tel. No.: |
91-22-28755447 / 28770181 / 0380 |
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Fax No.: |
91-22-28734877 |
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E-Mail : |
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Website : |
http://www.chromatopak.com |
DIRECTORS
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Name : |
Mr. Ashok Kabra |
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Designation : |
Director |
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Address : |
7 C 301 Alika Nagar, Lokhandwalal Complex, Kandivali (East), Mumbai –
400 101, Maharashtra |
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Date of Birth/Age : |
01.06.1951 |
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Date of Appointment : |
25.06.1993 |
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Name : |
Mr. Remacio Fernandes |
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Designation : |
Director |
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Address : |
A 5 Lubin Apartment Tank Road, Marve Road, Malad West, Mumbai – 400
064, Maharashtra |
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Date of Birth/Age : |
11.10.1953 |
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Date of Appointment : |
25.06.1993 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Ashok Kabra |
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2000 |
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Mr. Ramacio Fernandes |
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2000 |
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Mrs. Swati Khadilkar |
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750 |
Equity Shares Breakup (Percentage of Total Equity):
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Sr No. |
Category |
Percentage |
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1 |
Directors or relative of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
To manufacture and deal in analytical instrument and spares and
accessories for analytical and scientific instruments. |
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Products : |
· LC/ LC – MS Column · GC / GC – MS Column · Sample Handling Accessories · Gas handling Accessories · Reference Standards · GC / HPLC Supplies |
GENERAL
INFORMATION
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Customers : |
· Aarti Industries Limited · Alchemie Organics Limited · Aryan Pesticides Limited · Avon Organics Limited · BS Enterprises · C Abhaykumar And Company · Chemtron Science Lab · Choksi Laboratories Limited · Esteem Industries · Nepal Lever Limited · Natco Pharma Limited · Hilab Equipment Private Limited · Navin Fluorine · USV Limited · V K Enterprises · Vadilal Gases Limited · Zuari Industries Limited · Plant Lipids Limited · P I Industries · Okasa Pharma Limited · M S Technologies |
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Bankers : |
M/s Fiat Sundaram Auto Finance Limited Address: No. 21, Patullos Road, Chennai –
600 002 |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Arunkumar Shah Chartered Accountants |
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Address : |
B -154, Diamond Twins, Poisar, S V Road Kandivali (West), Mumbai – 400
067, Maharashtra |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity shares |
Rs. 100/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4750 |
Equity shares |
Rs. 100/-
each |
Rs. 0.475
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.475 |
0.475 |
0.375 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3.202 |
1.993 |
1.654 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.677 |
2.468 |
2.029 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.159 |
0.412 |
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2] Unsecured Loans |
1.190 |
1.190 |
1.190 |
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TOTAL BORROWING |
1.190 |
1.349 |
1.602 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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PROFIT AND LOSS ACCOUNT |
6.681 |
2.007 |
2.050 |
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TOTAL |
11.548 |
5.824 |
5.681 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.503 |
2.847 |
2.475 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.290
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4.906 |
1.695 |
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Sundry Debtors |
25.920
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20.531 |
14.032 |
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Cash & Bank Balances |
12.767
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2.783 |
5.518 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.515
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1.170 |
1.453 |
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Total
Current Assets |
40.492
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29.390 |
22.698 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
22.181
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20.864 |
17.157 |
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Provisions |
9.269
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5.552 |
1.979 |
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Advances |
0.000
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0.000 |
0.359 |
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Total
Current Liabilities |
31.450
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26.416 |
19.495 |
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Net Current Assets |
9.042
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2.974 |
3.203 |
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MISCELLANEOUS EXPENSES |
0.003 |
0.003 |
0.003 |
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TOTAL |
11.548 |
5.824 |
5.681 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
115.732 |
93.947 |
73.880 |
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Other Income |
0.000 |
0.000 |
2.706 |
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Increase / Decrease in Stocks |
0.000 |
0.000 |
0.015 |
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Total Income |
115.732 |
93.947 |
76.601 |
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Profit/(Loss) Before Tax |
12.086 |
3.393 |
2.455 |
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Provision for Taxation |
0.000 |
0.000 |
0.821 |
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Profit/(Loss) After Tax |
12.086 |
3.393 |
1.634 |
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Expenditures : |
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Raw Material Consumed |
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48.272 |
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Director Expenses |
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14.364 |
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Sales Tax |
103.646 |
90.554 |
4.916 |
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Personnel And Director Remuneration |
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2.209 |
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Administrative, Selling And Other Expenses |
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3.622 |
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Interest And Bank Charges |
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0.399 |
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Depreciation |
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0.362 |
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Total Expenditure |
103.646 |
90.554 |
74.144 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
10.44
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3.61 |
2.13 |
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Net Profit Margin (PBT/Sales) |
(%) |
10.44
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3.61 |
3.32 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
28.11
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10.52 |
9.75 |
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Return on Investment (ROI) (PBT/Networth) |
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3.28
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1.37 |
1.20 |
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Debt Equity Ratio (Total Liability/Networth) |
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8.87
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11.25 |
10.39 |
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Current Ratio (Current Asset/Current Liability) |
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1.28
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1.11 |
1.16 |
LOCAL AGENCY
FURTHER INFORMATION
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Name of the
company |
M/.S CHROMATOPAK ANALYTICAL
INSTRUMENTATION INDIA PRIVATE LIMITED |
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Presented
By |
M/s Fiat
Sundaram Auto Finance Limited, No.21, Patullos Road, Chennai – 600 002 |
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1) Date and
description of instrument creating the change |
Loan agreement dated
20.11.2002 Cont. No. IM – 1814 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 0.370 million
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3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
On the security
of No. 2002 Model Fiat Palio Car, bearing E .No. 0053545, Ch.no. 8045032 as
mentioned in the Ist schedule of the enclosed copy of the loan agreement. |
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4) Gist of the terms
and conditions and extent and operation of the charge. |
The total loan amount of Rs. 0.423 million
is repayable in 36 equal monthly installments of Rs. 0.011 millions each./
the 1st hiremoney fails due on 20.11.2002 |
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5) Name and
Address and description of the person entitled to the charge. |
M/s Fiat Sundaram Auto Finance Limited No.
21, Patullos Road, Chennai – 600 002 |
FIXED ASSTES:
· Machinery
· Furniture And Fixture
· Office Premises
· Vehicle
· Computers
· Office Equipment
WEBSITE DETAILS:
HISTORY
Established on New Year’s
Day 1982, subject enjoys a preeminent position among chromatographers
throughout India, as the one-stop shopping for chromatographic consumables.
From their humble beginnings, during which they took a lead in the manufacture
of packed columns for GC, they have over the years enlarged their product
offerings to cater to a very demanding and challenging industry. The GC Packed
Column still remains at the very core of their manufacturing activity but they
now have a whole range of chromatography products. They manufacture and
distribute an extensive line of columns, consumables and accessories for HPLC,
GC, IC, SPE etc. They are associated with reputed names in the industry through
international distributor agreements. It is from companies such as these that
they out-source genuine, quality products which they then distribute all over
India through their distribution network. Take a look at their Product listing
for details.
Chromatographers are the hub around which Chromatopak revolves. They understand
and appreciate the needs of the separation scientists. They believe that they
have the technical expertise, the experience and the will to provide solutions
to even the most demanding chromatographer. They realize the investments that
go into a Q.C and R and D Laboratory and how important it is for the
chromatographer to run his applications on the GC and HPLC timely, effectively
and efficiently. They hope to be the partner in progress while they support
every sale that they make.
It is and will be
their endeavor to proactively work so that they continue to win the trust.
PRODUCTS
·
LC/ LC – MS
Column
·
GC / GC – MS
Column
·
Sample Handling
Accessories
·
Gas handling
Accessories
·
Reference
Standards
·
GC / HPLC
Supplies
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
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Indian Rupees |
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US Dollar |
1 |
Rs.39.39 |
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UK Pound |
1 |
Rs.81.49 |
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Euro |
1 |
Rs.58.49 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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54 |
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 |
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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 |
|
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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