MIRA
INFORM REPORT
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Report Date : |
01.09.2007 |
IDENTIFICATION DETAILS
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Name : |
OPHTECHNICS UNLIMITED |
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Registered Office : |
2209 Phase IV. |
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Country : |
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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, distributors and traders of optical and medical devices suitable for
eyes and others. |
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 28000 |
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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 and reputed 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 : |
2209 Phase IV. |
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Tel. No.: |
91-124-4053491/92/93/94 |
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Mobile No.: |
91-9811145567 |
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Fax No.: |
91-124-4053495 |
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E-Mail : |
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Website : |
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Area : |
Owned – 300 sq.
mtrs |
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Factory 1 : |
Village Patheri,
Bilaspur, Tawru Distt. Gurgaon |
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Area : |
1400 Sq. mtrs |
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Factory 2 :- Area : |
66000 sq. mtr |
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Branches : Area : |
550 sq. fts. |
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Location : |
Leased |
SOLE PROPRIETOR
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Name : |
Mrs. Manisha
Dange |
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Designation : |
Proprietor |
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Date of Birth/Age : |
36 years |
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Qualification : |
M.B.A |
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Experience : |
7 years |
KEY EXECUTIVES
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Name : |
Mr. Ashish Dange |
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Designation : |
Chief Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, exporters,
distributors and traders of optical and medical devices suitable for eyes and
others. |
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Exports : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit
(30 days) |
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Purchasing : |
Cash, Credit (30
days) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
44 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M.A.M. Associates, Chartered Accountants |
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Membership : |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 7.200 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 7.200 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
32.000 |
40.000 |
35.000 |
Expected Sales (2007-08) : Rs. 38.000 Millions to 40.000 Millions
LOCAL AGENCY FURTHER INFORMATION
Subject exports
ophtechnics products and imports devices.
The concern is in
trade terms with :
- Albomed GmbH
- Awantpur - France
As per
website
Ophtechnics Unlimited is a young and
progressive company engaged in manufacturing and exporting of products used in
Ophthalmic Surgery. The promoters of the company have acquired more than 15
years of experience in manufacturing and marketing of ophthalmic products like
Intraocular Lenses (IOL), Surgical Blades, Surgical Instruments and
pharmaceutical products like Viscoelastic, Miotic, Trypan Blue etc.
The Quality Policy of Ophtechnics
has Total Customer Satisfaction
at its core. The Quality Management Systems of the company are in compliance
with international standards and the company is certified for ISO 9001:2000 Quality Certification.
Additionally, the company has secured CE
marking for all its products from DNV,
During a short span of existence,
Ophtechnics products, have met wide spread approval amongst customers,
worldwide. The company is the preferred sub-contract manufacturer for many
respected brands from the
Excellent and consistent product
quality, on time delivery schedules and attractive pricing – these are key
attributes of our sales policy. In addition, the company provides a host of
value added services to its clients – including but not limited to custom
product design, packaging and printing.
Ophtechnics is committed to
providing its customers with world-class products and services, at extremely
competitive and affordable Indian prices.
Product Line:
Intraocular
Lenses (PMMA)
- Single piece and Multipiece
- Anterior Chamber and Posterior Chamber
- Varied design and styles
- Equiconvex optics made from Clinical Quality UV
Absorbent PMMA
- +8.0 to +30.0 D in increments of + 0.5
- Higher and Lower powers available on request
- CE Marked
- Private Labeling Available
Intraocular
Lenses (Acrylic Hydrophilic)
- Single piece Acrylic Hydrophilic
- Varied design and styles
- Square-edge optics made from Clinical Quality UV
Absorbent HEMA
- +8.0 to +30.0 D in increments of + 0.5
- Higher and Lower powers available on request
- CE Marked
- Private Labeling Available
Micro Surgical
Knives
- Keratome (Slit Blade) 2.6mm, 2.8mm, 3.0mm, 3.2mm
- Clear Cornea Blade 2.6mm, 2.8mm, 3.0mm, 3.2mm
- Crescent Blade
- Lance Tip (Stab Blade) 15o, 22.5o, 30o, 45o
- Extension Keratome (Blunt Tip) 4.5mm, 5.0mm, 5.1mm,
5.5mm
- MVR Blades 19G
All blades EO
Sterile
CE Marked
Surgical Instruments
- Cataract Sets
- DCR/Lachrimal Surgery Set
- Glaucoma/Squint Surgery Set
- Cornea Transplant Set
- Enucleation Set
- Clamps/Forceps
- Scissors
- Needle holders
- Cannula
- Rotators/Phaco Choppers/Pre Choppers
- Folders/Inserters
- Manual Phaco/Nucleus Dividers
- Speculum
- Scleral Depressors/Retractors etc.
Surgical Sponges
- Cellulose Cataract Spears
- PVA Cataract Spears
- PVA LASIK Spears
- PVA Drains
- PVA Corneal Shields
- PVA Instrument Wipe
All Sponge Products EO Sterile
Endocapsular Tension Ring (ECTR)
- Single piece PMMA
- Highly Flexible
- Clinical Quality UV Absorbent PMMA
- 12-10mm & 13-11mm Size
- CE Marked
Viscoelastic HPMC -
OccuGel
2 % Hydroxypropyl Methyl Cellulose
OccuGel Regular - Viscosity 4500 cps
OccuGel Plus – High viscosity 30000 cps
Available in pack of 2ml Pre-filled Syringe or 5ml Vial
Pack includes 23G Visco injection cannula
Trypan Blue - OptiBlu
Trypan Blue Ophthalmic Solution
0.6 or 0.8 mg/ml for Capsular Staining during cataract surgery
2.0 mg/ml for Membrane Staining during Posterior Segment Surgery
Available in pack of 1ml vial or 2ml Pre-filled Syringe
Miotic Carbachol - OptiChol
0.01% Carbachol Ophthalmic Solution
Instant miosis
Available in pack of 1ml vial
Profile:
Business Type:
Manufacturer, Exporter
Capital in Dollars:
USD 500000
Export Percentage:
70%
Primary Competitive
Advantages:
·
High
and Consistent Product Quality
·
Product
Certification (ISO 9001 and CE)
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Rich
Industry Experience, impeccable QC abilities
·
Export
Oriented Business
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Private
Labeling for Industry Leaders
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Quick
turnaround times, attractive Pricing
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. 40.96 |
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1 |
Rs. 82.55 |
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Euro |
1 |
Rs. 55.96 |
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 |
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 |
-- |
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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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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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