MIRA INFORM REPORT
|
Report
Date : |
03.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
MICRO
ORGO-CHEM |
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Registered
Office : |
Shed NO.C-1-B-57, LIC Sector, GIDC, Vapi – 396 195, Gujarat |
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Country
: |
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Financials
(as on) : |
31.03.2007 |
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Date
of Incorporation : |
1992 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
MUMM15571D |
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PAN
No.: [Permanent
Account No.] |
AAAFM1877H |
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Legal
Form : |
Partnership concern with an unlimited liability of the partners |
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Line
of Business : |
Manufacture and sale of Bulk Drugs such as Erythromycin
Stearate, Erythromycin Estolate, Danazol, and Pyrazinamide |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum
Credit Limit : |
USD 30000 |
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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 and reputed concern having
satisfactory track. Partners are reported as experienced and respectable
businessmen. Trade relations are reported as fair. Business is active.
Payments are usually correct and as per commitments. The concern can be considered normal for business dealings
at usual trade terms and conditions |
LOCATIONS
|
Registered
Office/ Factory : |
Shed No.C-1-B-57, LIC Sector, GIDC, Vapi – 396 195, |
|
Tel.
No.: |
91-260-2420440 / 2422074 / 5543792 |
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Fax
No.: |
91-2638-2422074 |
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E-Mail
: |
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Area : |
8000 sq.ft. |
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Location : |
Owned |
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Administrative Office: |
28, Lohar Chawl, Mahim (W), Mumbai – 400 016, |
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Tel.
No.: |
91-22-2445 1832 /2445 7618 |
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Fax
No.: |
91-22-2445 7618 |
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Area: |
3000 sq. fts. |
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Location : |
Owned |
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Branches
: |
66-70, |
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Tel.
No.: |
91-22-22050465 / 66379291 / 22000039 / 2017830
/ 22050465 |
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Fax
No.: |
91-22-22064524 |
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E-Mail: |
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Area: |
700 sq. fts. |
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Location : |
Owned |
PARTNERS
|
Name : |
Mr. Vijay Jain |
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Designation
: |
Partner |
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Name : |
Mr. Ashok Jain |
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Designation
: |
Partner |
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Mobile
No.: |
91-9820051832 |
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Name : |
Mr. Vinod Jain |
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Designation
: |
Partner |
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Name : |
Mr. Vinod O. Ranka |
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Designation
: |
Partner |
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Name : |
Mr. R. M. Parmar |
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Designation
: |
Partner |
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Name : |
Mr. N. J. Ranka |
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Designation
: |
Partner |
BUSINESS DETAILS
|
Line
of Business : |
Manufacture and sale of Bulk Drugs such as
Erythromycin Stearate, Erythromycin Estolate, Danazol, and Pyrazinamide |
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Products
: |
Ø
Tablets Ø
Capsules Ø
Ointments and Creams Ø
Liquid and Syrups Ø Powders |
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Exports
to : |
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Imports
from : |
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Terms
: |
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Selling: |
L/C / Credit (60 days) |
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Purchasing : |
L/C, D/P |
GENERAL INFORMATION
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Suppliers
: |
Upjohn of |
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Customers
: |
State Governments, Muncipal Corporations,
Ministry of Health, Government of |
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No. of
Employees : |
25 |
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Bankers
: |
Ø
Bank of GIDC Branch, Vapi – 396 195, Ø Union Bank of Princess Street Branch, Mumbai |
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Facilities : |
C / C -
Rs. 30.000 from Bank of |
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Banking Relations : |
Satisfactory |
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Auditors
: |
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Name : |
Nikhil
Gandhi and Company Secretary Chartered
Accountants |
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Address : |
Mumbai, |
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Associates/Subsidiaries
: |
Ø
Micron Pharmaceuticals Line of Business: Pharmaceuticals Formulations Ø
Rank Organics Chemical Private Limited Line of Business: Manufacturing of Bulk Drugs,
their Intermediates and Custom Synthesis Products. |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs. 7.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 7.500 Millions |
FINANCIAL
DATA
[all
figures are in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales
Turnover |
Around 80.000 |
Around 60.000 – 70.000
|
42.000 |
Expected
Sales (2008) : Around Rs. 100.000 Millions
LOCAL AGENCY FURTHER
INFORMATION
Areas of manufacturing
operations are :
Ø
Tablets and Capsules
Ø
Liquids Orals and Syrups
Ø
Powder, Ointments and Logen etc.
Ø
Anti Cancer Drugs
Ø
Water Purification Tablets
As Per Web Details:
Profile:
Subject is one of the leading manufacturers
of Pharmaceutical Bulk Drugs since 1992 with multi-dimensional business
activities. They have been exporting the Active Pharmaceutical Ingredients to a
number of countries across the globe. Since its inception, the company has seen
tremendous growth and has taken rapid strides forward in its business
operations. Right from the start, the company positioned as a premier
manufacturer of the active pharmaceuticals ingredients & intermediates.
A well-known house of pharmaceutical division, the company
is widely involved in active pharmaceutical ingredients.
Subject has been setting new standards
through a dedicated team of professionals who are applying systematic efforts
in achieving the status of a becoming one of the leading Indian manufacturer of
Pharmaceutical Bulk Drugs Company operating on a global scale. Competing with
the best in this industry, Subject’s core strength lies
in the technical caliber of its people and a modern infrastructure comprising
of latest facilities for drug testing and packaging.
Every effort is taken to ensure that all the products
manufactured at Subject are of the highest quality
standards. Each product is manufactured under strict supervision at every stage
of its production ensuring that the very best product leaves the factory. Apart
from the high quality of its footwear components, the company also sees to the
timely delivery of all the consignments to all its clients globally. The
company's dedication to ensuring complete customer satisfaction has earned them
the golden opinion of their clients all over the world.
The company is known for :
Ø Core technical competence
Ø Quick supplies
Ø Competitive Pricing
Ø Adaptivity to non-standard
requirements of customers
Micron Group of Companies
Ø
Micron Pharmaceuticals
Pharmaceuticals Formulations
Ø
Micro Orgo Chem
Manufacturer of Bulk Drugs & Intermediates
Ø
Rank Organics Chemical Pvt. Ltd.
Manufacturing of the Bulk Drug
Manufacturing
Subject is one of the leading manufacturers
of Pharmaceutical Bulk Drugs since 1992 with multi-dimensional business
activities. They have been exporting the Active Pharmaceutical Ingredients to a
number of countries across the globe. A well-known house of pharmaceutical
division, the company is widely involved in active pharmaceutical ingredients
and intermediates.
All the API’s are manufactured at its independent state-of-the-art
manufacturing facility located at VAPI GIDC (Gujarat), which is 160 km. from
the commercial capital of
Highest priority is given to quality control and an adequate
precaution is taken to ensure the international standards of all the Active
Pharmaceutical Ingredients manufactured at Subject.
Thorough quality tests takes place to provide the best of the bulk drugs to the
customers spread all over the globe. The company comprises of well educated
professionals for different development sections such as the production,
research and development and marketing. The company since the time of its
inception has been constantly striving to provide technological superiority,
high quality products at best competitive prices.
Manufacturing Facility
is designed to carry out following :
|
Unit Operations |
Unit Processes |
|
Ø Liquid / Liquid Separation Ø Solid / Liquid Separation Ø Drying Ø Heating up to 140° C. Ø Cooling up to 5° C. Ø Shifting / Milling / Blending |
Ø Condensation Ø Grignard Reaction Ø Oxidation Ø Reduction Ø Halogenation Ø Chloro-Sulfonation Ø Multi-step Synthesis Ø Diazotisation Ø Phase -Transfer Catalysis |
Products
Ø
Active Pharmaceutical Ingredients
|
Products |
Specification |
Category |
Cas Number |
Dmf / Ctd Status |
|
Artesunate |
IHS |
Antimalarials |
88495-63-0 |
TP |
|
Artemether |
IHS |
Antimalarials |
71963-77-4 |
TP |
|
Arteether |
IHS |
Antimalarials |
7577-54-6 |
TP |
|
Aceclofenac |
BP/USP |
Non-Opoid Analgesics |
89796-99-6 |
TP |
|
Buprenorphine Hcl |
BP/USP |
Opioid Analgesics |
53152-21-9 |
EDMF |
|
Cefixime |
BP/USP/ EP |
Cephalosorins |
79350-37-1 |
TP |
|
Dihydro Artemisinin |
IHS |
Antimalarials |
81496-82-4 |
TP |
|
Danazol |
USP (Micronised) |
Hormones |
17230-88-5 |
EDMF |
|
Erythromycin Stearate |
BP/USP |
Macrolides |
643-22-1 |
TP |
|
Erythromycin Base |
BP/USP |
Macrolides |
114-07-8 |
TP |
|
Roxithromycin |
BP/EP |
Macrolides |
80214-83-1 |
DMF |
|
Succinylcholine Chloride /
Suxamethonium Cholride |
BP/USP |
Surgical Anesthetics |
6101-15-1 |
EDMF |
|
Sildenafil Citrate / Sildenafil
Base |
IHS |
Uterine Stimulants |
171599-83-0 |
TP |
|
Sodium Stearyl Fumarate |
USP / NF |
Excipients |
4070-80-8 |
DMF |
Under Development
|
Product |
Specification |
Category |
Cas Number |
Dmf / Ctd Status |
|
Fenofibrate |
IHS |
Hypolipidaemic Agent |
49562-28-9 |
- |
|
Gemcitabine Hcl |
IHS |
Carcino-Chemotherapeutic Drugs |
122111-03-9 |
- |
|
Lumefantrine |
IHS |
Antimalarials |
|
- |
Products covered by valid patents in any country are not
offered or supplied in those countries. The patent position in the country
concerned should be verified by the customer.
Exports:
Subject is one of the leading manufacturers
of Pharmaceutical Bulk Drugs since 1992 with multi-dimensional business
activities. They have been exporting the Active Pharmaceutical Ingredients to a
number of countries across the globe. Since its inception, the company has seen
tremendous growth and has taken rapid strides forward in its business
operations. Right from the start, the company positioned as a premier manufacturer
of the active pharmaceuticals ingredients & intermediates.
The products being manufactured by the company are in great
demand in the international markets like
Subject while thrives to reach to its new
world - wide customers with more and more ingredients, it continues to
concentrate more on quality of its products.
Apart from high quality of its footwear components, the
company also sees to the timely delivery of all the consignments to all its
clients globally. The company's dedication to ensuring complete customer
satisfaction has earned them the golden opinion of their clients all over the
world.
CMT
REPORT [Corruption,
Money laundering & Terrorism]
The Public Notice information has been collected from
various sources including but not limited to: The Courts,
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. 39.73 |
|
|
1 |
Rs. 81.37 |
|
Euro |
1 |
Rs. 56.63 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT
LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT
POINTS |
|
|
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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 |
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/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 |