MIRA
INFORM REPORT
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Report Date : |
18.09.2007 |
IDENTIFICATION DETAILS
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Name : |
SWISS GARNIER LIFE SCIENCES |
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Registered Office : |
No. 68A, Vembulil, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2004 (Production Started during the Year 2006) |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PTLS15939A |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers and Job Work of Pharmaceutical Formulations i.e. P2P
basis for the pharmaceutical companies in |
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 : |
-- |
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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 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
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Registered Office : |
No. 68A, Vembulil, |
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Tel. No.: |
91-44-22312896/ 22329837/ 22312892 |
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Mobile No.: |
91-9318909207 |
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Fax No.: |
91-44-22327930 |
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E-Mail : |
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Website : |
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Area : |
2000 sq. ft. |
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Location : |
Rented |
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Factory 1 : |
No. 21-23, Industrial Area, Mehalpur District, UNA, Himachal Pradesh –
174 315, |
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Tel. No.: |
91-1975-232078/ 230850 |
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Fax No.: |
91-1975-230928 |
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E-Mail : |
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Area : |
50000 sq. ft. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. M. S. Thenvendran |
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Designation : |
Partner |
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Address : |
Alandur, Chennai – 600 016, |
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Date of Birth/Age : |
48 Years |
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Qualification : |
M. Tech. |
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Experience : |
20 Years |
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Name : |
Mrs. T. Rathanamali |
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Designation : |
Partner |
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Address : |
Alandur, Chennai – 600 016, |
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Date of Birth/Age : |
45 Years |
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Qualification : |
M. S. C. |
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Experience : |
10 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Job Work of Pharmaceutical Formulations i.e. P2P
basis for the pharmaceutical companies in |
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Products : |
©
Tablets ©
Sachets ©
Capsules |
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Terms : |
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Selling : |
Credit upto 30 days basis |
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Purchasing : |
Credit upto 30 days basis |
GENERAL INFORMATION
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Customers : |
Job Work of Pharmaceuticals Formulations (P2P Basis) |
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No. of Employees : |
Around 275 (In Office – 20 and In Factory – 250) |
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Bankers : |
State Bank of Chennai – 600 032, |
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Facilities : |
Overdraft Facility : Rs. 20.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Ramkumar Chartered Accountants |
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Address : |
S-1, H-88, |
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Mobile No.: |
91-9444025089 |
CAPITAL STRUCTURE
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Capital Investment : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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600.000 |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
©
Fourrts India Limited
©
Orchid Pharmaceuticals Limited, Chennai
©
Wockhard Limited
©
Organ India Limited
©
Lupin
©
Euglow Pharma
©
Eltanin Health Care
Observation Point :
Name of Board : Not Sighted
Land Mark : Near to the Guindy Railway Station
Office Appearance
: Well Furnished
Total No. of Floors : Three Floors
The Corporate Office is yet to be changed
after 6 months from the present address. The company is looking for better
place for the Corporate Office in
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.40.59 |
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1 |
Rs.80.74 |
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Euro |
1 |
Rs.56.15 |
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 |
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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