MIRA
INFORM REPORT
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Report Date : |
11.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
G AMPHRAY LABORATORIES |
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Registered Office : |
Sambhowa
Chambers, 4th Floor, Sir P. M. Road, Mumbai – 400001, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
1966 |
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Legal Form : |
Sole Proprietory
Concern |
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Line of Business : |
Manufacturer and
Exporter of Drugs and Formulations such as Paracetamol Tablets, Cotrimoxazole
Tablets, Metronidazole Tablets, etc., Drug Intermediates and Packing
Materials for Pharmaceuticals. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 80000 |
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Status : |
Good |
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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 of Mr. Ramu S. Deora, an eminent businessman
and brother of Mr. Murli Deora (Ex-member of parliament). Deora family is
influential and well connected with high level bureaucrats in the country.
They have a strong rapport with foreign pharmaceutical companies in India.
Their trade relations are fair. Payments are usually correct and as per
commitments. It can be
considered good for any normal business dealings at usual trade terms and
conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Rajiv Deora |
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Designation : |
Chief Executive Officer |
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Date : |
11.04.2008 |
LOCATIONS
|
Registered
Office : |
Sambava
Chambers, 4th Floor, Sir P.M. Road, Mumbai - 400 001, India |
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Tel. No.: |
91-22-2266 1034/
22663316/ 66317748/ 49/ 56317750/ 40828100 |
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Mobile No.: |
91-98200 84212/ 9820911009 |
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Fax No.: |
91-22-2202 4657/
2282 8181/ 66317747 |
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E-Mail : |
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Website : |
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Area : |
2000 sq. ft. |
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Location : |
Owned, Commercial |
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Warehouse : |
43/2, Narpoli,
Amina Compound, Near Dhamankar Naka, Bhiwandi - 421 302, District Thane,
Maharashtra |
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Area : |
28000 sq. ft. |
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Location : |
Owned |
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Factory : |
10-2, MIDC
Industrial Area, Ambernath – 421 501, District Thane |
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Tel. No.: |
91-251-268219 /
12 / 2682711 |
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Area : |
20000 sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Ramu S. Deora |
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Designation : |
Proprietor |
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Date of
Birth/Age : |
68 Years |
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Other
Directorship : |
Chairman of Chemexcil, Ex-President Federation of India, Export
Organisations, Commodity Board, etc. |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of Drugs and Formulations such as Paracetamol Tablets, Cotrimoxazole
Tablets, Metronidazole Tablets, etc., Drug Intermediates and Packing
Materials for Pharmaceuticals. |
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Products : |
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Brand Names : |
G. Amphray |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Contract (30
days), Cash and L/C |
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Purchasing : |
Contract (30
days), Cash and L/C |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
100 |
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Bankers : |
Overseas Branch, World Trade Centre, Cuffe Parade, Mumbai – 400005, Maharashtra, India
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Facilities : |
The concern
enjoys credit limit of Rs.200.000 millions and Bank Loans Rs.20.000 millions
from its bankers. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M. L. Bhuwania
and Company Chartered
Accountants |
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Address : |
480, Kalbadevi
Road, Mumbai – 400 002, Maharashtra, India |
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Associates/Subsidiaries : |
Manufacture Fine Chemicals and Formulations Annual Turnover Rs.145.00 millions (approximate) |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.200.000
millions |
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Borrowed : |
- |
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Total : |
Rs.200.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
800.000 |
750.000 |
750.000 |
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ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2001 |
31.03.2000 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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193.966 |
248.675 |
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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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0.000 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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193.966 |
248.675 |
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LOAN FUNDS |
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1] Secured Loans |
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27.247 |
5.940 |
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2] Unsecured Loans |
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1.620 |
1.620 |
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TOTAL BORROWING |
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28.867 |
7.560 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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222.833 |
256.235 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.635 |
4.789 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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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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98.264 |
43.812 |
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Sundry Debtors |
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72.137 |
29.363 |
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Cash & Bank Balances |
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30.232 |
176.630 |
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Other Current Assets |
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14.488 |
6.189 |
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Loans & Advances |
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6.076 |
6.657 |
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Total
Current Assets |
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221.197 |
262.651 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.999 |
11.205 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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2.999 |
11.205 |
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Net Current Assets |
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218.198 |
251.446 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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222.833 |
256.235 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2001 |
31.03.2000 |
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Sales Turnover [including other income] |
|
245.804 |
164.804 |
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Total Income |
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245.804 |
164.804 |
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Profit/(Loss) Before Tax |
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47.744 |
40.841 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
|
47.744 |
40.841 |
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Total Expenditure |
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199.012 |
102.171 |
KEY RATIOS
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PARTICULARS |
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31.03.2001 |
31.03.2000 |
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PAT / Total
Income |
(%) |
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19.42 |
24.78 |
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Net Profit Margin (PBT/Sales) |
(%) |
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19.42 |
24.78 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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21.14 |
15.27 |
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Return on Investment (ROI) (PBT/Networth) |
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0.24 |
0.16 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.16 |
0.07 |
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Current Ratio (Current Asset/Current Liability) |
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73.75 |
23.44 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY:
Subject was
established in 1966 by setting up a modest multipurpose bulk pharmaceuticals
factory at Bhiwandi near Mumbai. In
1979, it set up Unit No. 2, a speciality plant to manufacture Paracetamol at
Ambernath near Mumbai. In 1982, Unit
No. 3, a Tablet manufacturing facility was set up at Ambernath. In 1984, it set up Unit No. 4, a
multipurpose plant at Ambernath to manufacture various bulk pharmaceuticals.
Subject is the
first concern from India to have started warehousing facility and office in
Hamburg, Germany.
BUSINESS:
Subject is engaged
in manufacturing and exporting of drugs and formulations such as paracetamol
tablets, cotrimoxazole tablets, metronidazole tablets, etc., drug intermediates
and packing materials for pharmaceuticals.
Pharmaceutical
products INCLUDE:
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Anti Viral Drugs |
Acyclovir,
Ganciclovir, Lamivudine, Zuduvidine |
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Osteophorosis |
Alendronate
Sodium, Lamotrigine |
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Diuretic |
Allopurinol |
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Anxiety |
Alprazolam |
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Cardiovascular |
Amilopine,
Diltiazem, Dobutamine, Doxizocin, Enalapril, Lisinopril, Losartan Potassium,
Methyl Dopa, Ramipril, Sodium Valporate, Tramadol, Trimetazidine |
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Anti-Allergy |
Astimizole,
Ceterizine, Dextromethorphan, Loratindine |
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Anti-Bacterial |
Azithromycin,
Cefaclor, Clarithromycin, Roxithromycin |
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Laxative |
Biscodyl |
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Anti-Inflammatory |
Celecoxib,
Refocoxib |
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Anti-Emetic |
Cinneraxine,
Domperidone, Ondansetron |
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Opthalmic |
Dipivefrine |
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Steroid |
Finasteride |
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Anti-Depressant |
Fluxoxitine,
Paroxetine, Seritraline |
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Anti-Cholesterol |
Fluvastatin,
Lovastatin, Simvastatin |
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Anti-Aids |
Indianavir |
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Anti-Agina |
Iperiflavone |
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Anti-Fungal |
Fluconazole,
Itraconazole, Ketoconazole, Miconazole, Terbinafine |
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Analgesic |
Nebumetone |
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Psychotic |
Olanzapine |
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Vetenary |
Oxyclozadine |
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Anti-Ulcer |
Lanspprozole
8.5%, Omerprazole 8.5%, Penteprazole, Rabiiprazole |
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Anti-Psychotic |
Risperidone |
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Anti-Asthmatic |
Salbutamol |
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Potency |
Sildanafil
Citrate |
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Anti-Migraine |
Sumatriptan |
MEMBERSHIPS
- Basic Chemicals,
Pharmaceuticals and Cosmetics Export Promotion Council
- Bulk Drug
Manufacturers Association
- Dyestuffs
Manufacturers’ Association of India
- Federation of Indian
Chamber of Commerce & Industry
In the
year 1966, Ramu S. Deora, a gifted and hardworking man set out to establish
subject with a lofty aim to spread the light of hope and dispel the darkness of
disease by contributing to the indigenous development of "Bulk Drug"
and "Drug Intermediates" vital for the well-being of humanity at home
and the world over.
"Amphray"
(affectionately known by its clients) ventured into the export market at a time
when Indian Made Products elicited little response from International buyers.
By undaunted perseverance and utmost confidence in the quality of its products,
"Amphray" slowly but surely established its name in the International
market.
Subject
has become a force to reckon with in the world of the Pharmaceutical Industry,
equipped with sophisticated plant and machinery and utilizing the latest
processing techniques. Their product range has expanded and they are currently
dealing in over 100 products that are used in different industries from Food
Additives and Colours to Laxatives and Chemicals for Cosmetic Industry. They
are also providing many vital life saving drugs such as Anti Ulcers, Anti
Hypertensive, Anti Diabetic, Anti Aids, Anti TB etc.
Subject was established in 1966 by setting up a
modest multipurpose Bulk Drugs Pharmaceutical Factory at Bhiwandi near Mumbai.
In 1979 the Second Unit was started at Ambernath to manufacture Pharmaceutical
bulk Drugs and the Third Unit to manufacture Paracetamol Bulk Drugs and
Formulations started in 1982 at Ambernath.
They have Drug Master File No. 5910 of FDA, United
States of America for Acetaminophen USP (to be renewed). Similarly for
Paracetamol BP from the Netherlands DMF No. 1028, New Zealand DMF No. TT60-243-13-1,
Taiwan DMF No. 020868. Certificate of Suitability, Registration No. CEP-96-56
for the European Community, Besides this, they are also applying for DMF in
Italy. Their Plant is approved by the FDA for Good Manufacturing Practices
(GMP) in line with WHO Guidelines.
They are buying several raw materials for their
finished Bulk Drug Unit;
All these products conform to BP / USP / FCC
specifications as may be required by the customers and can be offered in
different particle sizes and bulk density as per customer's requirements. They
are also specialized in Paracetamol Tablets, Cotrimoxazole Tablets or any other
tablets as per customer's requirements.
Mr. RAMU S. DEORA, who is the Chairman of this Unit
is an acknowledged Leader on the Export Front and has had several
responsibilities entrusted to him by the business community and Government of
India. Mr. Ramu S. Deora was the President of FIEO (FEDERATION OF INDIAN EXPORT
ORGANISATIONS) in the past from 1987-91 and now from 1996-98 and the Chairman
of CHEMEXCIL (Basic Chemicals, Pharmaceuticals & Cosmetics Export Promotion
Council) in 1987-91 and now from 1996 onwards again till 2000. He was the
Trustee of MUMBAI PORT TRUST, Director of ECGC (Export Credit Guarantee
Corporation of India Ltd.) and Chairman of AISC (All India Shipper's Council)
India, Member of the Committee of FICCI (Federation of Indian Chambers of
Commerce and Industry) and Member of Board of Trade - Ministry of Commerce etc.
After Office Hours at Residence
Res. Tel:
91-22-23631080 / 23631081
Fax: 91-22-23677772
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.95 |
|
UK Pound |
1 |
Rs.78.91 |
|
Euro |
1 |
Rs.63.24 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
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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 |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 |
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