MIRA
INFORM REPORT
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Report Date : |
21.09.2007 |
IDENTIFICATION DETAILS
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Name : |
INVISION MEDI SCIENCES |
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Registered Office : |
251, 2nd Floor, Bhagyalakshmi Complex, 2nd
Cross, 3rd Main,
Chamrajpet, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2004 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Traders of Medicines. |
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 8000 |
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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. Proprietor is reported as experienced and respectable businessman.
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
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Registered Office : |
251, 2nd Floor, Bhagyalakshmi Complex, 2nd
Cross, 3rd Main,
Chamrajpet, |
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Tel. No.: |
91-80-4162-3504 / 505 |
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Fax No.: |
91-80-41623505 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Sales Office : |
273/1, M.S. Complex, |
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Tel. No.: |
91-80-2228 7797 / 2238 9225 |
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Corporate Office : |
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Tel. No.: |
91-80-2287 2264 / 2221 6171 / 2228 7797 |
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Fax No.: |
91-80-2238 0826 |
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E-Mail : |
SOLE PROPRIETOR
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Name : |
Mr. Mukesh Jain |
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Designation : |
Proprietor |
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Date of Birth/Age : |
33 Years |
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Qualification : |
Graduate |
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Experience : |
8 Years |
BUSINESS DETAILS
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Line of Business : |
Trader of Medicines |
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Products : |
· Antacid, Anti-Flatulant and Anti-Ulcerant · Anti Inflammatory, Analgesic and Anti Spasmodic · Anti-Allergics / Anti-Asthmatics · Vitamins, Minerals, Proteins and Other Nutritional supplements |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash, Credit (30 – 90 Days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers |
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No. of Employees : |
20 |
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Bankers : |
·
Punjab
National Bank
Address: Chikpet ·
ICICI
Address: ·
Syndicate Bank
Address: BWSSB Branch |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Kankariya Chartered Accountants |
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Address : |
Chikpet, |
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Associates/Subsidiaries : |
·
Minova Life Science Private Limited
Address:
Activity: Marketing of Medicines ·
Intra Labs India Private Limited
Address: Chennai
Activity: Marketing of Medicines |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 millions |
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Borrowed : |
--- |
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Total : |
Rs.2.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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33.000 |
18.700 |
Expected Sales (2007-08) : Rs. 80.000 millions
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCE:
·
Shreem Pharmaceuticals
·
Vinayak Medical Agencies
·
Raja Medical Agencies,
·
Goods Pharmaceuticals, Chennai
WEBSITES DETAILS:
"Healthy and happy lives for one and all is the fundamental theme for which Subject stands for."
Subject has chosen the path of providing truly world class quality products at affordable prices to contribute significantly towards this theme.
At Invision Medi Sciences the focus is to follow the path of excellence by creating world class facilities in terms of infrastructure, systems and people of various disciplines to comply by the international standards.
Subject is moving ahead, confident of creating new formulations and to make significant differences in lives of people.
Corporate
To Create healthy, happy and more meaningful lives by providing world class healthcare solutions for everyone.
Philosophy
· Achieving Customer Satisfaction is fundamental to their business
· To provide products and services of the highest quality
· Practice dignity and equity in relationship and provide opportunities for their people to realize their full potential
· Ensure profitable and constant growth
· Foster mutually beneficial relations with all their business partners
· Manage their operations with high concern for safety and environment
· Be a responsible corporate citizen
Dedicated Team
Excellent teamwork and good rapport forms the backbone of Subject dedicated team. Their people go extra miles to deliver brilliant healthcare solutions. They are continuously motivated to excel.
At Subject their people are the most important assets. Through constant upgrading of knowledge, skills and the emphasis on creative contribution, their employees are able to excel in every aspect of their work and realize their own potential and dream.
Quality:
At Subject, they are deeply committed to excellence and quality. Their team is committed and works hard to deliver the best for the cause of life. The only way they can make their commitment of healthier and happier world come true is by providing better and even better quality of products.
Production facilities are hygienic and in controlled environment. All the equipments are periodically inspected for consistency of quality from batch to batch. The quality control laboratories are equipped with latest infrastructure for ensuring world class quality of medicines.
Products
Subject offers wide range of products from its state – of – art- plant including Tablets, Capsules, Injections, and Syrups and Ointments etc. The range is so much comprehensive that they are like a single source for wide range of products available in the market.
Special emphasis is given for adhering to deliver schedules and inventory control by adhering to minimum ordering level scheme and first-in / first – out methodology. All these steps ultimately help their stockist / distributors in avoiding overstocking and utilizing their investments optimally.
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Products List |
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09 |
Vitamins, Minerals, Proteins and Other Nutritional supplements |
Customer as their partners
Subject believes in building long lasting and mutually beneficial relationship with their customers which they believe to be their partners in growth. They fully understand that customer satisfaction drives success.
They understand customer’s needs, expectations and the problems they face. Leveraging this knowledge with world class technology, Subject produces healthcare solutions to fulfill their common goal
Creating value for the customer requires continually evaluating what the customer needs. The customer is basically focus for their existence
Subject is emerging as a powerful entity in the pharmaceuticals business. They at Subject believe that they have many more challenges to face and many more ambitious goals to achieve.
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.39.91 |
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1 |
Rs.79.88 |
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Euro |
1 |
Rs.55.88 |
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 |
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 |
NO |
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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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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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