MIRA
INFORM REPORT
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Report Date : |
15.10.2007 |
IDENTIFICATION DETAILS
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Name : |
UNITED LIFE CARE PRIVATE LIMITED |
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Registered Office : |
A/2, G. P. Park Society, Opposite Gandhi Kutir, Udhna, Magdalla Road,
Surat – 395001, Gujarat |
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Country : |
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Date of Incorporation : |
21.02.2007 |
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Com. Reg. No.: |
50053 |
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CIN No.: [Company
Identification No.] |
U24232GJ2007PTC050053 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of Pharmaceutical Formulations. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet to establish itself. Company’s first financials are
awaited. Company has done some initial
business. No further details or
payment could be made available. The company can be considered for small to mediocre business dealings
with slight caution initially. |
LOCATIONS
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Registered Office : |
A/2, G. P. Park Society, Opposite Gandhi Kutir, Udhna, Magdalla Road,
Surat – 395001, Gujarat, India |
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Tel. No.: |
91-261-2234003 |
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Mobile No.: |
91-9377737707 |
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Fax No.: |
91-261-2234003 |
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E-Mail : |
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Website : |
http://united.tradeindia.com |
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Area : |
1000 sq. ft. |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. S. K. Javeri |
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Designation : |
Director |
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Date of Birth/Age : |
56 years |
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Qualification : |
Double Graduate |
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Name : |
Mr. R. M. Kapadia |
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Designation : |
Director |
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Date of Birth/Age : |
42 years |
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Qualification : |
Graduate |
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Name : |
Mr. Y. G. Gandhi |
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Designation : |
Director |
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Date of Birth/Age : |
43 years |
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Qualification : |
Graduate |
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Name : |
Dr. J. O. Shah |
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Designation : |
Director |
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Date of Birth/Age : |
54 years |
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Qualification : |
M.B.B.S |
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Name : |
Dr. Anita Shah |
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Designation : |
Director |
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Date of Birth/Age : |
48 years |
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Qualification : |
M.D.D.G.O. |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Pharmaceutical Formulations. |
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Products : |
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Exports : |
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Products : |
Allopathic/ Anti-allergic and Anti-cold Medicines,
Antibiotics, Antimalarial Medicines, Nutritional Products, Anti-emetic and
other formulations and Pain – Killers |
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Countries : |
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Terms : |
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Selling : |
Cash or Credit [30 days] |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
12 |
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
D. Barjiwala & Company Chartered Accountants |
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Address : |
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Associates : |
United Sales Enterprises Line of Business : Pharmaceutical Marketing, Consulting and
Distribution |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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February 2007 to
September 2007 |
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Sales Turnover |
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2.500 |
Expected Sales (2007-08) : Rs. 6.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade Reference :
Ř
Winpharma,
Ř
Pradhim Medice, Pune
Website Details :
Profile
Superior quality, reasonable
prices and quick relief are the hallmarks of every pharmaceutical company. These
features are the trademark of the company. The prominent manufacturer, exporter
and supplier is a one stop shop to source excellent medical products such as
pharmaceutical formulations, allopathic/ anti-allergic and anti-cold medicines,
antibiotics, antimalarial medicines, nutritional products, etc. Every product
is manufactured in a hygienic and healthy environment as per internationally
accepted norms and procedures, thus leaving no room for consumer grievances.
Their strict commitment towards quality and client satisfaction has helped them
to earn a substantial market base within a very short time period. The company
is committed towards achieving the highest quality standards, understanding the
customers' needs, changing market scenario and delivering the products
accordingly. They are committed to deliver the best, thus leaving no room for
client grievances.
Products
Subject is a renowned manufacturer, exporter and
supplier of high quality pharmaceutical formulations such as:
Allopathic/
Anti-allergic and Anti-cold Medicines
Antibiotics
Antimalarial
Medicines
Nutritional
Products
Anti-emetic and
other formulations.
Quality Assurance
They know the
importance of quality in today's business world. Thus, an effective Quality
Management System is maintained that ensures smooth and efficient production
from every stage. They have a team of medicos and scientists who perform
stringent quality checking of the products. The products are manufactured in
accordance with the standardized norms and practices in a healthy and hygienic
environment. They also have a well equipped laboratory to conduct various tests
on our products. The final products are packed in world class packaging that
ensures undamaged and uncontaminated delivery of the medicinal formulations.
Timely Delivery
Subject owns a huge
storage facility and a wide distribution network of dealers that facilitates in
smooth and efficient flow of products to the market. Their ability to feed bulk
orders in tight deadlines provides them an additional edge over other players
engaged in the similar arena.
Why they?
Right combination
of personnel, machines--the total operating system
Production unit
installed with the latest modern technology and facilities
Upgradation of
machinery with the latest techniques
Team of experts to
monitor the entire manufacturing process
Competitive
prices--the best price offered in the market
Enhancement of
products both in quality and innovation
Regular investment
to promote knowledge in the area of technical development, research and
production
Adherence to the
industrial norms and international quality standards.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.33 |
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1 |
Rs.79.74 |
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Euro |
1 |
Rs.55.74 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
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 |
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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17 |
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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