MIRA
INFORM REPORT
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Report Date : |
24.09.2007 |
IDENTIFICATION DETAILS
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Name : |
YASH RASAYAN AND CHEMICALS |
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Registered Office : |
Plot no.417/3 Phase – 11, GIDC Estate, Panoli, District Bharuch - 329 001, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1996 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BRDY00061F |
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Legal Form : |
Partnership concern with an Unlimited Liability of the partners. |
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Line of Business : |
Manufacturer and Exporter of Pharmaceutical Intermediates. |
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
tracks. 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 bu8siness dealings at usual
trade terms and conditions. |
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LOCATIONS
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Registered Office : |
Plot no.417/3 Phase – 11, GIDC Estate, Panoli, District Bharuch – 329
001, |
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Tel. No.: |
91-2646-272165 / 645388 |
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Fax No.: |
91-2646-272214 |
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E-Mail : |
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Website : |
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Area : |
5000 sq.mtrs |
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Location : |
Leased |
PARTNERS
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Name : |
Mr. Jagdish B Patel |
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Designation : |
Partner |
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Date of Birth/Age : |
35 Years |
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Qualification : |
Post Graduate |
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Name : |
Mr. Haresh B Patel |
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Designation : |
Partner |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Pharmaceutical Intermediates. |
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Products: |
·
Speciality Chemicals ·
API Intermediates |
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Exports : |
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Products : |
All Products |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C, Credit (60-90 Days), D/A |
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Purchasing : |
L/C, Cash |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
28 |
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Bankers : |
Oriental Bank of Commerce Address: Ankleshwar Branch |
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Facilities : |
C/C – Rs.7.500 millions) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Somani and Company Chartered Accountants |
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Address : |
Bharuch – 329 001, |
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Associates/Subsidiaries : |
Aum Industries Address: Bharuch – 329 001, Activity: Manufacturer and Exporter of Pharmaceutical Intermediates. |
CAPITAL STRUCTURE
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Capital Investment : |
NA |
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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48.000 |
45.000 |
Expected Sales (2007-08): Rs. 60.000 millions
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES:
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Wockhardt Limited, Mumbai
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Matrix, Andhra Pradesh
WEBSITES DETAILS:
Subject has been established in the 1997 for manufacturing
of Parma Intermediates at plot No. 417 / 3 GIDC, Panoli, District Bharuch,
Subject has been promoted by a group of
technocrats. The promotes are technically qualified and having rich experience
in the filed with a sound financial backgrounds.
The Company is professionally managed with
assistance of executive set up consisting of qualified personnel At all
functional levels.
Subject has excellence combination of
manufacturing, quality control, management expertise and its growth strategy is
fueled and backed motivated personnel who undergo regular – in – house training
to ensure a combine industry.
Subject has establishes another successive
unit in 2002 as M/s. AUM Industries,
Strengths:
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Known for its quality
consciousness and retained the customers through
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Subject is equipped with
state of art quality testing equipment like gas, spectro photo meter and are
backed by a dedicated and experienced and technical personnel of quality
control and quality assurance maintain strict quality control accordance with
required standards.
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To ensure the products
meet the highest international standards control measures and procedure, are in
place
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Discharging the social
responsibilities to the fullest extent especially of environment
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Has got satisfied
customers base of well reputed pharma industries.
Objective
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To be a preferred partner
for innovator companies
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The focus is to leverage
on skills in process development, analytical
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Customized chemical
services providing services in synthesis, contract and supply of key
intermediates
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Providing a complete
range of chemicals services that are necessary to innovation to the market
speedily and more efficiently
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Their expertise ensures
that the best quality is delivered on time.
At Yash Rasayan and chemicals, they aim to be
a chemistry solutions provide molecule Drug Development needs. They give each
project individual attention project presents its own challenges and
opportunities. They maintain confidentiality, solve difficult problems and are
equipped to handle most aspect development and Manufacturing.
They offer Contract Research and Development
services during early stages of D Contract Manufacturing for project that have
advanced further into development being considered for commercial
manufacturing.
Their customers are reputed global
pharmaceuticals companies engage in discovery, Development and
Commercialization of New Molecular Entities.
Products:
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Speciality Chemicals
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API Intermediates
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.39.87 |
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1 |
Rs.80.11 |
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Euro |
1 |
Rs.56.19 |
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 |
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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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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