MIRA
INFORM REPORT
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Report Date : |
02.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
BROTHERS PHARMAMACH INDIA PRIVATE LIMITED |
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Formerly Known As : |
AMBICA INDUSTRIAL
CORPORATION |
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Registered Office : |
Plot No. 2 Phase II, GIDC Estate Vatva Ahmedabad – 382 445, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
14.05.2006 |
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Com. Reg. No.: |
48198 |
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CIN No.: [Company
Identification No.] |
U24231GJ2006PTC048198 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMB03526F |
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PAN No.: [Permanent
Account No.] |
AACCB8964D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Labelling Machines. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 400 |
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Status : |
New company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 2 years old company and yet to establish itself. The
company had incurred a loss as per its first financials. Scale of activity is
limited. Payments are reported as slow and delayed. The company can be considered for any business dealings on safe and
secured trade terms and conditions, initially. |
LOCATIONS
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Registered Office / Factory : |
Plot No. 2 Phase II, GIDC Estate Vatva Ahmedabad – 382 445, Gujarat,
India |
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Tel. No.: |
91-79-25890435 / 25831346 / 25893253 |
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Mobile No.: |
91-9825300326 / 9825006052 |
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Fax No.: |
91-79-25835885 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Jayantilal R Mevada |
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Designation : |
Director |
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Name : |
Mr. Mahesh Kumar H Mevada |
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Designation : |
Director |
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Name : |
Mr. Haresh I Mevada |
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Designation : |
Director |
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Name : |
Mr. Nirav J Mevada |
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Designation : |
Director |
SHAREHOLDING
PATTERN
Equity Shares Breakup (Percentage of Total Equity): (as on 31.03.2007):-
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Sr No. |
Category |
Percentage |
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1 |
Directors or relative of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Labelling Machines. |
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Products : |
· Labelling Machine · Sticker Labelling Machine · Wet Glue Labelling Machine · Self Adhesive Labelling Machine Pharmaceutical Machinery · Filling Machine · Capping Machine · Packaging Machinery |
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Exports : |
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Countries : |
Bangladesh, Nepal, Syria, Singapore, China, Indonesia, Philippines,
Jordan and many African Countries. |
GENERAL
INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
----- |
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Auditors : |
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Name : |
Mahendra Shah and Associates Chartered Accountants |
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Address : |
E Block 3rd Floor Capital Commercial Centre, Ashram Road,
Ahmedabad - 380 009, Gujarat, 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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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.100 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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1.755 |
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Sundry Debtors |
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0.025 |
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Cash & Bank Balances |
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1.454 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.040 |
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Total
Current Assets |
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3.274 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.307 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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3.307 |
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Net Current Assets |
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[0.033] |
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MISCELLANEOUS EXPENSES |
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0.026 |
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PROFIT & LOSS |
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0.107 |
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TOTAL |
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0.100 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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Debt Equity Ratio (Total Liability/Networth) |
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33.07 |
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Current Ratio (Current Asset/Current Liability) |
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0.99 |
LOCAL AGENCY
FURTHER INFORMATION
History
The Brothers
Pharmamach Group was founded in early 1966 by their Chief Executive Officer Mr.
Jayantilal R. Mevada, who also heads the office of the Chairman at the company
(formerly known as Ambica Industrial Corporation), the pioneer manufacturer of
indigenous pharmaceutical machinery in India.
Subject is a manufacturer
and exporter of Labelling
Machines. The range of Labelling
Machines manufactured by them are acknowledged as the best ones by the Indian
Pharmaceutical, Pesticides, Foods, Beverages, Cosmetics, Chemicals and
Packaging Companies in India and the companies abroad as well.
Organizational Strategy
Since 1966 they have
been known to a wide range of national and international markets as a reputed
customary Labelling Machine manufacturer and exporter. Their machines are
exported to many Asian countries like Bangladesh, Nepal, Syria, Singapore,
China, Indonesia, Philippines, Jordan and to many African countries. Hundreds
of Labelling Machines of different types and a number of Complete Injectable
Powder Filling lines supplied by them are successfully used in India and abroad
by small scale to very large scale national and multinational companies of
repute.
Products
The company is well
known for Labelling Machines. The range of Labelling Machines manufactured by
the company are acknowledged as the best ones by the Indian Pharmaceutical,
Pesticides, Foods, Beverages, Cosmetics, Chemicals and Packaging Companies and
the companies abroad as well.
Their product range
comprises of the following:
·
Labelling Machine
·
Sticker Labelling Machine
·
Wet Glue Labelling Machine
·
Self-adhesive Labelling Machine Pharmaceutical
Machinery
·
Filling Machine
·
Capping Machine
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Packaging Machinery, etc.
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 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.39.93 |
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UK Pound |
1 |
Rs.79.34 |
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Euro |
1 |
Rs.62.55 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
---- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
---- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
1 |
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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 |
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 |
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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13 |
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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