MIRA
INFORM REPORT
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Report Date : |
27.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHREE BAIDYANATH AYURVED BHAWAN PRIVATE LIMITED |
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Registered Office : |
1 Gupta Lane, Kolkata – 700 006, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
22.05.1947 |
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Com. Reg. No.: |
21-15374 |
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CIN No.: [Company
Identification No.] |
U24233WB1947PTC015374 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
NGPS00859F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Ayurvedic, Dant Manjan Lal and Hair Oil. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 2551104 |
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Status : |
Excellent |
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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 company having fine track.
Available information indicates high financial responsibility of the company.
Trade relations are fair. General financial position is good. Fundamentals
are strong and healthy. Payments are reported as usually correct and as per
commitments. The company can be considered good for any normal business dealings. It can be regarded as a promising business partner in a medium to long
– run. |
LOCATIONS
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Registered Office : |
1 Gupta Lane, Kolkata – 700 006, West Bengal , India |
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Tel. No.: |
91-33-22592625 |
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Fax No.: |
91-33-22695705 |
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E-Mail : |
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Website : |
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Corporate Office : |
Great Nag Road, Nagpur, Maharashtra India |
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Factory: |
Plot No. C 46, C -47 J – 58to J - 61 Industrial Area Surajpur ,
Greater Noida, Gaziabad, India |
DIRECTORS
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Name : |
Mr. R A Sharma |
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Designation : |
Chairman Managing Director |
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Name : |
Mr. S K Sharma |
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Designation : |
Joint Managing Director |
KEY EXECUTIVES
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Name : |
Mr. G L Agrawal |
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Designation : |
Company Secretary |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Ayurvedic, Dant Manjan Lal and Hair Oil. |
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Products : |
· Ayurvedic Medicines · Hair Oil · Dant Manjan Lal |
GENERAL
INFORMATION
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Suppliers: |
· Alintosh Pharma Limited · Keshvanand Chemical Private Limited · Alvin Caramel Colours (India) Private Limited · Kidiag Packaging Products · Ameet Polyfilms Private Limited · Liberson Industries Private Limited · Ami Pyroflex Private Limited · Navdruga Engineering And Casting Works · Amitava Industries · Pal Metals · Aniltosh Pharmaceuticals Limited · Pearls Polymers Limited · Associated Capsules Private Limited · Pharmaceuticals Coating Private Limited · Associated Corrugated Packs · Pitambara Polymers Industries Private Limited · Ayurvedant Private Limited · Raksum Tin Printers Private Limited · Beautiful Plastics · Satyom Industries · Bhavani Sales Corporation · Shakti Press Limited · Classic Bottle Caps Private Limited · Dutco Plastic Industries · Coronet Plastics · Sharda Seal Works · Sheetal Bottle Glass · Sheetal Glass Containers Private Limited · Elmac Agro Ind. Private Limited · Shiv Shakti Press Private Limited · Garware Engineering Limited · Shiv Shakti Trading · Goodcare Pharma Private Limited · Shri Sharma Ayurvedic Mandir · Gujarta Glass Limited · Siddayu Ayu. Research Foundation Private Limited · Gyani Packwell · The Supreme Industries · Jayanti Industries · Venkatesh Food Ind. · Kadambari Printers · Vista Invertb Sugar Limited · Kamakhaya Vyapar Private Limited |
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Bankers : |
· Punjab National Bank · Bank of Maharashtra · HDFC Bank · ICICI Bank · Bank of India |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Lodha and Company Chartered Accountants |
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Address : |
14, Government Place, East, Kolkata – 700 069, West Bengal , India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs. 10/- each |
Rs.3.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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3.000 |
3.000 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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634.776 |
572.359 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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637.776 |
575.359 |
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LOAN FUNDS |
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1] Secured Loans |
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205.571 |
202.484 |
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2] Unsecured Loans |
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51.176 |
81.435 |
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TOTAL BORROWING |
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256.747 |
283.919 |
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DEFERRED TAX LIABILITIES |
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13.700 |
9.759 |
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TOTAL |
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908.223 |
869.037 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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160.145 |
157.489 |
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Capital work-in-progress |
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15.344 |
13.425 |
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INVESTMENT |
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9.256 |
7.891 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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650.933 |
662.245 |
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Sundry Debtors |
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304.404 |
299.753 |
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Cash & Bank Balances |
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77.756 |
48.495 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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261.572 |
201.417 |
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Total
Current Assets |
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1294.665 |
1211.910 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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406.912 |
397.125 |
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Provisions |
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164.275 |
124.553 |
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Total
Current Liabilities |
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571.187 |
521.678 |
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Net Current Assets |
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723.478 |
690.232 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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908.223 |
869.037 |
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PROFIT & LOSS
ACCOUNT
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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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2047.400 |
1861.500 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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2047.400 |
1861.500 |
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Profit/(Loss) Before Tax |
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108.300 |
108.500 |
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Provision for Taxation |
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43.800 |
34.800 |
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Profit/(Loss) After Tax |
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64.500 |
73.700 |
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Export Value |
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859.100 |
554.700 |
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Expenditures : |
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Financial Charges |
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23.900 |
28.700 |
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Depreciation & Amortization |
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25.100 |
25.100 |
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Other Expenditure |
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1841.100 |
1645.400 |
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Total Expenditure |
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1890.100 |
1699.200 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total
Income |
(%) |
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3.15 |
3.95 |
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Net Profit Margin (PBT/Sales) |
(%) |
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5.28 |
5.83 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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7.36 |
7.80 |
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Return on Investment (ROI) (PBT/Networth) |
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0.17 |
0.19 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.30 |
1.40 |
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Current Ratio (Current Asset/Current Liability) |
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2.26 |
2.32 |
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:
The company is popularly known as Baidyanath, is the acknowledged leader
of Ayurvedic know-how. Established in
1917, the Company has played a pioneering role in re-establishing
ancient knowledge with modern research and manufacturing techniques.
Subject was founded in 1917 by Late Pt.
Ram Dayal Joshi. Its registered office is in Kolkata. To encourage and
boost research in Ayurveda, Baidyanath established Pt. Ram Dayal Joshi Memorial
Ayurvedic Research Institute at Patna in 1971. Baidyanath awards two lakh of
rupees every year for the best research paper or book on Ayurveda.
Fusion of ancient knowledge with modern
scientific revelation
Besides being the manufacturer of the largest range of Ayurvedic
Products in the world, Baidyanath's achievements
and strengths include :
· Manufacturer of over 700 Ayurvedic Products
· 10 manufacturing Centres
· Number of employees -1,600
· Continuously updated centralised R and D facilities
· Over 3,500 exclusive showrooms manned by qualified medical practitioners
· Over 10,000 distributors
· Exports to several countries
· Running Ayurvedic Hospitals
· Publishing a monthly magazine--"Sachitra Ayurved"
· 5 free clinics serving over 300 patients each day
· Institution of awards for significant research on Ayurveda
· Running two leading schools in two States of India
Single Herb Products
SHATAVARI (Asparagus
racemosus) –
A general tonic to increase lactation and also to soothe the nerves.
ASHWAGANDHA (Withania
Somnifera)-
A general vitalizer, used as a nervine tonic and anti-stress and
enhanced body immunity.
HARITAKI (Terminalia
chebula)
Mild laxative, rejuvenator and beneficial for promoting healthy and
lustrous skin.
GUGGULU (Commiphora mukul)
Used in Ayurveda for arthritis, inflammatory joint pains, obesity and
helps normalising cholesterol.
BHUMI AMLA (Phyllanthus
niruri) –
This well studied plant is primarily effective on liver and spleen and
also in relieving inflammation throughout the body. It is used as a diuretic
and improves digestion.
Multi-Herb Products
CHYAWANPRASH
A
rejuvenator tonic containing Amla fruit and herbs. It enhances body metabolism
and immunity and considered to be one of the most health promoting product of
Ayurveda.
SURAKTA
A
herbal blood purifier. It is useful in improving bowel function and promoting
assimilation of nutrients into the body tissues which in turn adds a natural
glow to the skin.
TRIKATU
A
herbal tribalance to improve digestion, stimulate appetite, relieve colic
abdominal pains and alleviate chronic cough.
KABZ-HAR
Herbal laxative. Senna leaf contained in this health food supplement acts
as a safe and very effective laxative.
MAHANARAYAN OIL (200 ml.) –
A multi herb massage oil used in
rheumatic pain, paralysis, gout, locked jaw, trisnus etc.
CHANDANBALA LAXADI OIL (200 ml.)-
Made with pure Sandalwood oil and cooling herbs to balance pitta. It
cools the body.
MAHABHRINGRAJ OIL (200 ml.)-
A refreshing hair oil, used for centuries to add lustre and prevent
premature hair loss. Bhringraj (Eclipta alba) contains a large amount of resin
and alkaloid principal eclipting.
PUNARNAVADI OIL (200 ml.)-
This unique herbal oil contains Punarnava (Boerhaavia difusa) for
balancing kapha. Purnarnavadi oil is very useful for rheumatic and gouty
painful joints. Also indicated in oedema due to kidney problems.
SHRI GOPAL OIL (60 ml.)-
An invigorating massage oil for individuals of all constitutions in all
seasons with kesar as one of the ingredients. It enhances energy, strength and
stamina.
Asava-Aristas are liquid preparations containing self-generated alcohol.
Thus they contain water soluble as well as alcohol soluble substances of the
medicinal plants.
ASHOKARISTA –
Useful in leucorrhoea, lack of iron, menorrhagia and other female
complications. Good uterine tonic.
ASHWAGANDHARISTA-
Used in nervous debility and certain mental affections, like loss of
memory, epilepsy and mania. Nervine tonic.
PUNARNAVARISTA-
Useful for oedema, abdominal disorders and liver complaints. Diuretic.
SARASWATARISTA-
Useful in convulsion, nervous debility, stammering and loss of memory.
ABHAYARISTA-
Useful in piles, anaemia, colitis etc.
ARJUNARISTA-
Useful in heart diseases and respiratory disorders. A good cardiac
tonic.
KUMARI ASAVA-
Useful in anaemia, enlargement of liver and spleen. Normalises
metabolism of the body.
DASHMOOLARISTA-
Useful in cough, nervous diseases, anaemia, jaundice and acts as a good
pre-natal tonic. Useful after child birth.
LOHASAVA-
Useful in anaemia, jaundice, liver affections, cardiac lesions etc.
Increases haemoglobin.
VASARISTA-
Useful in cough, bronchitis, asthma, phthisis and other chest
affections.
BALARISTA-
Indicated in hemiplegia, rheumatic pains and other vatrogas.
TRIFALA CHURNA –
Alterative, astringent, mild laxative and aperient.
AMLAKI RASAYAN –
Astringent, alterative, aperient, stomachic refrigerent and rejuvenator.
SITOPLADI CHURNA –
Useful in cough, phthisis, excessive thirst, respiratory complaints and
burning sensation of extremeties.
· VATA TEA is calming and relaxing.
· PITTA TEA is cooling and refreshing.
· KAPHA TEA is invigorating.
· CALMING TEA is nature’s own recipe to calm and relax the mind and body.
· ANTI-OBESITY TEA is specially formulated to hold balance and regulate fat in the body and lowers cholesterol level.
Baidyanath manufactures over 700 classical Ayurvedic products in the
following categories
· Bhasmas and Pishti
· Kupipakwa Rasayan
· Rasrasayan
· Lauh Mandoor
· Bati or Golian (pills)
· Parpati
· Guggulu
· Churna (powders)
· Avleh Modak and Pak
· Perfumed Hair Oils
· Medicinal Oils
· Ghritas
· Asava and Arishtas
· Pravahi Kwath
· Kshar
· Ark
· Patent and Proprietray Medicines
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.97 |
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UK Pound |
1 |
Rs.79.53 |
|
Euro |
1 |
Rs.63.09 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
9 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
8 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
9 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
9 |
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--LEVERAGE |
1~10 |
9 |
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--RESERVES |
1~10 |
8 |
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--CREDIT LINES |
1~10 |
8 |
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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 |
|
73 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|