MIRA
INFORM REPORT
|
Report Date : |
17.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PRADIPKUMAR PHARMA PRIVATE LIMITED |
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|
|
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Formerly Known As : |
PRADIPKUMAR AND COMPANY (PHARMA) PRIVATE LIMITED |
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Registered Office : |
Shreeji Bhuwan, 2nd
Floor, Mangaldas Road, Lohar Chawl, Mumbai – 400002, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
26.08.1991 |
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Com. Reg. No.: |
11-63069 |
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CIN No.: [Company
Identification No.] |
U99999MH1991PTC063069 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP10049E |
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Legal Form : |
Private Limited Liability Company |
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|
Line of Business : |
Manufacturers, Importers,
Exporters and Traders of Pharmaceuticals, Tonics, Medicinal Drugs,
Diagnostics, Antibiotics, Antiseptic, Homeopathic, Biochemic, Health Care
Preparations, etc. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 88888 |
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|
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a family owned
company engaged in the business as manufacturers, importers, traders /
dealers in drugs and pharmaceuticals. Directors are well experienced in marketing
and they are resourceful too. The company’s business is
progressing well. Trade relations are fair. Payments are usually correct and
as per commitments. The company operates from the main and very prominent
market for drugs and pharmaceuticals. The company can be considered normal for business dealings at usual trade terms and conditions. Mr. Pradipkumar Shah, (Managing Director) parted business details. They bought 1400 sq. ft. Office at Arun Chambers in Turdeo, Mumbai where they intend to shift in August, 2008. |
INFORMATION PARTED
BY
|
Name : |
Mr. Pradipkumar Shah |
|
Designation : |
Managing Director |
|
Date : |
17.04.2008 |
LOCATIONS
|
Registered Office : |
Shreeji Bhuwan, 2nd Floor,
Mangaldas Road, Lohar Chawl, Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-22082069/22081770/22085118/22085119/
22332345/ (Resi) 387 2936 |
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Fax No.: |
91-22-22085113 |
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E-Mail : |
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Website : |
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Factory : |
Gala No. 5/6, Manish Compound, Rehnal Village, Anjur Phata, Thane Road, Bhiwandi – 421308, Maharashtra, India |
DIRECTORS
|
Name : |
Mr. Pradipkumar R. Shah |
|
Designation : |
Director |
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Address : |
102, Anuj Apartments, 96, Gowalia
Tank Road, August Kranti Marg, Mumbai – 400 026, Maharashtra |
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Date of Birth/Age : |
05.04.1947 |
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Date of Appointment : |
26.08.1991 |
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Name : |
Mr. Ramanlal P. Shah |
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Designation : |
Director |
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Address : |
Mumbai – 400 007, Maharashtra |
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Date of Appointment : |
31.08.1995 |
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|
|
|
Name : |
Mr. Dinesh R. Shah |
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Designation : |
Whole-Time Director |
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Address : |
Songadh Apartmentrs, 4th
Floor, 48, Jughes Road, Mumbai – 400 007, Maharashtra |
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Date of Birth/Age : |
22.08.1959 |
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Date of Appointment : |
01.04.1995 |
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|
|
|
Name : |
Mr. Umesh R. Shah |
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Designation : |
Whole Time Director |
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Address : |
Songadh Apartmentrs, 4th
Floor, 48, Jughes Road, Mumbai – 400 007, Maharashtra |
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Date of Birth/Age : |
25.06.1957 |
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Date of Appointment : |
01.04.1995 |
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|
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Name : |
Mr. Dhiren R. Shah |
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Designation : |
Director |
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Address : |
Ravindra Kutir, 1st
Floor, French Road, Mumbai – 400 007, Maharashtra |
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Date of Birth/Age : |
27.10.1955 |
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Date of Appointment : |
01.04.1995 |
KEY EXECUTIVES
|
Name : |
Mr. R. N. Shah |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mr. Pradipkumar R. Shah |
|
7040 |
|
Mr. Pradipkumar R. Shah (HUF) |
|
6600 |
|
Mr. Pradipkumar R. Shah |
|
10480 |
|
Mrs. Pravina P. Shah |
|
4400 |
|
Ramanlal Shah (HUF) |
|
6380 |
|
Mr. Dinesh R. Shah |
|
6600 |
|
Mrs. Nipa D. Shah |
|
10700 |
|
Mr. Dhiren R. Shah |
|
4400 |
|
Mrs. Tejal D. Shah |
|
4400 |
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Mr. Umesh R. Shah |
|
4400 |
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Mrs. Priti V. Shah |
|
8500 |
|
Umesh R. Shah (HUF) |
|
4400 |
|
Mr. Deep U. Shah |
|
8500 |
|
Mr. Umesh R. Shah |
|
4400 |
|
Dhiren R. Shah (HUF) |
|
4400 |
|
Dinesh R. Shah (HUF) |
|
4400 |
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|
|
|
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Total |
|
100000 |
(As on 31.03.2007)
|
Category |
|
Percentage |
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|
|
|
|
Directors or relatives of
directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Importers,
Exporters and Traders of Pharmaceuticals, Tonics, Medicinal Drugs,
Diagnostics, Antibiotics, Antiseptic, Homeopathic, Biochemic, Health Care
Preparations, etc. |
|
|
|
|
Products : |
· Phenelephrine · Sulphamethoxazole · Metronidazole · Ofloxacin USP 24 · Tetracpy Cycline HCL · Norfloxacin USP 24 ·
Atropine Methyl Nitrate, German · Atropine Sulphate IP/BP/USP, German ·
Atropine
Sulphate IP/BP/USP, German ·
Tropine Sulphate
IP/BP/USP, German ·
Atropine Sulphate IP/BP/USP, China ·
Atropine Sulphate IP/BP/USP, China ·
Azithromycin, India ·
Benzocain IP, China
·
Calcium D.
Pantothenate BP, China |
GENERAL
INFORMATION
|
No. of Employees : |
25 |
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|
|
|
Bankers : |
·
Bank of India Bullion Exchange Branch, Mumbai
– 400 002, Maharashtra, India |
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|
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Facilities : |
Rs.1.500 million |
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|
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
B. B. Lakdawala and Company Chartered Accountants |
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Address : |
SHELTON, 10th N. S.
Road, JVPD Scheme, Mumbai – 400 049, Maharashtra, India |
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Tel. No.: |
91-22-26201767 |
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Associates/Subsidiaries : |
Pradipkumar and Company Shreeji Bhuwan, 2nd Floor, Mangaldas Road,
Lohar Chawl, Mumbai – 400002,
Maharashtra, India (Manufacturers, importers, exporters and traders of
pharmaceuticals) Capital
(31.03.2000) – Rs.5.772 millions Sales (31.03.2000) – Rs.37.756 millions |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
12.222 |
14.528 |
12.645 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
22.222 |
24.528 |
22.645 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
13.826 |
11.497 |
10.673 |
|
|
2] Unsecured Loans |
52.839 |
36.374 |
20.833 |
|
|
TOTAL BORROWING |
66.665 |
47.871 |
31.506 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.022 |
|
|
|
|
|
|
|
|
TOTAL |
88.887 |
72.399 |
54.172 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.109 |
2.469 |
1.772 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.064 |
0.007 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
33.083
|
23.819 |
19.970
|
|
|
Sundry Debtors |
78.613
|
59.519 |
39.954
|
|
|
Cash & Bank Balances |
4.439
|
6.870 |
4.953
|
|
|
Other Current Assets |
0.836
|
0.206 |
3.442
|
|
|
Loans & Advances |
0.747
|
4.230 |
4.261
|
|
Total
Current Assets |
117.718
|
94.644 |
72.580 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
31.004
|
24.038 |
17.255
|
|
|
Provisions |
0.000
|
0.683 |
2.924
|
|
Total
Current Liabilities |
31.004
|
24.721 |
20.179 |
|
|
Net Current Assets |
86.714
|
69.923 |
52.401
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
88.887 |
72.399 |
54.172 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
243.616 |
171.853 |
120.178 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income |
243.616 |
171.852 |
120.178 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
5.474 |
3.187 |
0.606 |
|
|
Provision for Taxation |
0.000 |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
5.474 |
3.187 |
0.606 |
|
|
|
|
|
|
|
|
Export Value |
66.089 |
26.851 |
NA |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Interests |
6.714 |
3.663 |
0.000 |
|
|
Depreciation |
0.686 |
0.458 |
0.000 |
|
|
Other Expenditure |
230.742 |
164.544 |
119.572 |
|
Total Expenditure |
238.142 |
168.665 |
119.572 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
2.25
|
1.85 |
0.50
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.25
|
1.85 |
0.50
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.57
|
3.28 |
0.82
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.13 |
0.03
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.39
|
2.96 |
2.28
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.80
|
3.83 |
3.60
|
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Corporate
identity number (CIN) Foreign company registration number |
U99999MH1991PTC063069 |
|
Name of the
Company |
PRADIPKUMAR PHARMA PRIVATE LIMITED |
|
Address |
Shreeji Bhuwan, 2nd Floor,
Mangaldas Road, Lohar Chawl, Mumbai – 400002, Maharashtra, India |
|
This form is for
|
Modification of Charge |
|
Type of Charge |
Movable Property
(not being pledge) |
|
Particulars of
the charge holder |
Bank of India Bullion Exchange Branch, 185
Sheikh Memon Street, Kalbadevi Road, Mumbai – 400002, Maharashtra, India |
|
Nature or
description of the instrument(s) creating or modifying the charge |
Supplemental
Deeds of Hypothecation |
|
Date of the
instrument creating or modifying the charge |
20.03.2007 |
|
Amount secured
by the charge |
Rs.45.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge
|
Rate of
Interests: Interests at the
rate of 6.25% OBR Minimum 18.25% p.a. Terms of
Repayments: On Demand Margin: As per BOI
Guidelines From Time to Time Extent and
operation of the charge: As per BOI
Guidelines From Time to Time |
|
Short
particulars of the property charged (including location of the property) |
All Type of
Drugs and Pharmaceuticals, Chemicals etc. |
|
Particular of
the present modification |
Charge enhanced
from Rs.27.500 Millions to Rs.45.000 Millions |
|
Name of the company |
PRADIPKUMAR PHARMA PRIVATE LIMITED |
|
Presented By |
Bank of India Bullion Exchange Branch, Mumbai
- 400002 |
|
1) Date and description of instrument creating the change |
Deed of
Hypothecation of tangible movable property dated 21.02.1995 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.500
Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All tangible
movable assets of the company including in particular all types of drugs and
pharmaceuticals, chemicals etc. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interests at the
rate of 6.25% OBR Min.18.25% p.a. |
|
5) Name and Address and description of the person entitled to the charge. |
Bank of India Bullion Exchange Branch, Mumbai
– 400002, India |
|
6) Date and brief description of instrument modifying the charge |
Supplemental
deed of Hypothecation dated 26.03.2003 |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Original charge
created on 21.02.1995 for Rs.1.500 Millions Supplemental
deed of hypothecation dated 11.11.1995 charge enhanced from Rs.1.500
Millions and Rs.4.500 Millions Supplemental
deeds of hypothecation dated 27.07.2001 charge enhanced from Rs.4.500
Millions to Rs.12.500 Millions Now this present
modification dated 26.03.2003 charge enhanced from Rs.12.500 Millions to
Rs.18.000 Millions |
Trade Reference:
- Keugov Labs Limited
- Crex Pharma Private Limited
- Continental Trade Corporation
- Akin Laboratories Private Limited
- Inventta Chemicals Private Limited
- Siris Aqua Limited
Fixed assets:
·
Furniture And Fixtures,
·
Motor Car (Zen),
·
Maruti 1000,
·
Xerox Machine,
·
Opal Astra,
·
Maruti Esteem,
·
Epabx System,
·
Fax Machine,
·
Refrigerator,
·
Air Conditioner
·
Computers.
Profile:
Subject was established in the
year 1958 and is one of the senior and most experienced and reputed
organisations in the Pharma Industry all over India.
Known for its excellent service and time bound delivery schedule has earned
the group company small to biggest clients all over India and the honesty and
excellent financial management has earned the company its reputation,
distribution and marketing for many large bulk manufacturing companies of
India and overseas.
The group companies have been
ranked an AAA by its banker and have met all its financial commitments in
India and abroad all in time. The company is involved in Import, Export,
Distribution and Manufacturing of Bulk Drugs.
They have business Associates in prime cities in India to take care of the
customers. The customer’s base is from a smallest client in the smallest city
at the Indo Nepal Border "Raxaul" to all the large city of India.
The company was keeping the clients informed on every product by monthly market report 5000 copies, which was being circulated all over India for years together. And now with the changing time here is the sight where with better Scientific approach to keep all the customer informed on the rates of most of their items with unique feature of the graphical presentation of the rate trends and the numeric rates foe few items. The inquiry of each clients for any items not appearing in the list also will be replied as early as possible.
The company is being managed by
the most experienced directors directly interacting with the clients as every
good client is equally important for the company.
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.39.96 |
|
UK Pound |
1 |
Rs.78.66 |
|
Euro |
1 |
Rs.63.31 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
41 |
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 |
|