MIRA
INFORM REPORT
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Report Date : |
26.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAMARTH LIFE SCIENCES PRIVATE LIMITED |
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Registered Office : |
19, Prem Kunj, 1st Floor, Behind Arora Cinema, Matunga, Mumbai
– 400016, Maharashtra |
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Country : |
India |
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Financials (as on) : |
-- |
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Date of Incorporation : |
29.01.1997 |
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Com. Reg. No.: |
105511 |
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CIN No.: [Company
Identification No.] |
U65990MH1997PTC105511 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS43715A |
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PAN No.: [Permanent
Account No.] |
AABCS4014L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Pharmaceuticals |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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Comments : |
Mr. K K Parmar of the company declined business and financial details
on the several approaches. The Company appears to be irregular in preparing and maintaining books
of accounts. Caption office premises belongs to the group companies. The Company’s estimated annual turnover can be Rs. 20/25 millions. However, in absence of financial and business details. it would be
advisable to deal with the company on safe and secured trade terms and
conditions, initially. |
INFORMATION
DECLINED BY
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Name : |
Mr. K K Parmar |
LOCATIONS
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Registered Office : |
19, Prem Kunj, 1st Floor, Behind Arora Cinema, Matunga,
Mumbai – 400016, Maharashtra, India. |
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E-Mail : |
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Website : |
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Area : |
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Location : |
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Factory : |
Ram Mandir Road, Opp. Movie Star Theatre, Goregaon (West), Mumbai 4,
Maharashtra, India. |
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Tel. No.: |
91-22-26763735 / 26763634 / 26763703 |
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Fax No.: |
91-22-5695 9185 |
DIRECTORS
Not Available
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pharmaceuticals |
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Products : |
v Cardiovascular
Drugs v Antibacterials v Other
Specialities v Bulk Drugs v Infertility v Sclerosants v Mucolytic –
Agent v Oncology v Diagnostic
Products |
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Brand Names : |
v Adrenor v Mucomix v Kenadion v Distinon v Uro tone |
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Exports : |
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Countries : |
v South America v U.K. v South
East Asian countries and many African states. |
GENERAL
INFORMATION
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Bankers : |
Not Available |
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Auditors : |
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Name : |
Not Available |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2,50,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 2.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,38,200 |
Equity Shares |
Rs. 10/- Each |
Rs. 1.382
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
No financials are available from primary and secondary Sources. Mr. K K
Parmar (k.parmar@yahoo.co.in )
declined business and financial details.
The Company appears to be poor in corporate governce.
LOCAL AGENCY
FURTHER INFORMATION
Profile
They at Samrath are evolving into a true life science company aiming at exponential growth through expansion in new therapeutic area and exploring new molecules.
Samarth is a market driven; technology based company with a strong R & D base and is aiming at creating a niche market for products which are mostly import substitutes and life saving Critical Care specialties.
Samarth Pharma commenced operations in 1963 from humble beginnings and has today developed into a multi dimensional, multi location pharmaceutical conglomerate. With the strength of 350 motivated and well trained professionals, Samarth is blazing new trails in the successful marketing of life saving molecules to leading doctors in India. The flagship brands ADRENOR, MUCOMIX, KENADION, DISTINON, UROTONE have gained wide credibility and acceptance among the medical fraternity and have become brand leaders in their respective segments. Exports are also thriving and the products find place on the shelves of markets in South America, U.K, South East Asian countries and many African states.
The products are manufactured under GMP facilities with raw materials imported from the best sources in the world. Samarth employs cutting edge technology for manufacturing and marketing its products. Armed with GMP and ISO 9001:2000 certification, Samarth is now looking beyond the horizon and planning forays into the developed western markets.
As part of the expansion plans, they intend setting up a backward integration plant for bulk drugs as well as a new state of the art WHO GMP formulation unit for the production of latest cancer drugs and hormones.
Spanning a period of more than three decades, they have contributed in evolving the Indian Pharmaceutical Industry from its very modest beginnings to its present US $ 6 billion turnover and shall continue to strive to produce quality drugs at reasonable prices.
They constantly challenge ourselves to be a step ahead in terms of quality and personalized service.
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 :
The 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.
The 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. 40.18 |
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UK Pound |
1 |
Rs. 79.25 |
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Euro |
1 |
Rs. 62.90 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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