MIRA
INFORM REPORT
|
Report Date : |
29.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
D D PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
G -1/583, RIICO Industrial Area , Sitapura , Tonk Road, Jaipur – 302
022, Rajasthan |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
12.08.1994 |
|
|
|
|
Com. Reg. No.: |
17-008661 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24232RJ1994PTC008661 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
JPRD02336F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACD4394D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Bulk Drugs and Pharmaceuticals Products. |
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 30000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established and reputed company having
satisfactory track. The company has been successful in wiping off all its previous
losses during the year 2006-2007. Trade relations are fair. Business is
active. Payments are reported as usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office/ Factory : |
G -1/583, RIICO Industrial Area , Sitapura , Tonk Road, Jaipur – 302
022, Rajasthan, India |
|
Tel. No.: |
91-141-2771147 / 2771146 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Prakash Kumar Choudhary |
|
Designation : |
Director |
|
Address : |
C -204 Nagar Residency, Guru Nanak Path , Malviya Nagar, Jaipur – 302
017, Rajasthan, India |
|
Date of Birth/Age : |
15.03.1944 |
|
Date of Appointment : |
12.08.1994 |
|
Email: |
|
|
|
|
|
Name : |
Mr. Lalita Choudhary |
|
Designation : |
Director |
|
Address : |
C -204 Nagar Residency, Guru Nanak Path , Malviya Nagar, Jaipur – 302
017, Rajasthan, India |
|
Date of Birth/Age : |
04.07.1951 |
|
Date of Appointment : |
12.08.1994 |
|
Email: |
|
|
|
|
|
Name : |
Mr. Amit kumar Choudhary |
|
Designation : |
Director |
|
Address : |
C -204 Nagar Residency, Guru Nanak Path , Malviya Nagar, Jaipur – 302
017, Rajasthan, India |
|
Date of Birth/Age : |
26.12.1973 |
|
Date of Appointment : |
22.06.2001 |
|
Email: |
KEY EXECUTIVES
|
Name : |
Mr. Prashant Sipani |
|
Designation : |
Company Secretary |
|
Address : |
7 Kalyan Colony, Malviya Nagar, Jaipur – 301 017, Rajasthan, India |
|
Tel No.: |
91-141-2722614 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders (as on 31.03.2007) |
|
No. of Shares |
|
Mr. Prakash Kumar Choudhary |
|
58285 |
|
Mrs. Lalita Chodhary |
|
35740 |
|
Mr. Amit Kumar Choudhary |
|
27675 |
|
Mrs. Alka Choudhary |
|
100 |
|
S J Fiscals Services Limited |
|
5000 |
|
Matocab Finance Private Limited |
|
20000 |
|
S A Trafin Private Limited |
|
10000 |
|
Mr. Barkha Agarwal |
|
15000 |
|
Long View Finvest Private Limited |
|
5000 |
|
Trimudra Credit Private Limited |
|
5000 |
|
Adhunik Fiscal Services Private Limited |
|
6000 |
|
Light Shipping And Transport Private Limited |
|
7500 |
|
Set Square Vinimay Private Limited |
|
7500 |
|
Silverson Tracom Private Limited |
|
6000 |
|
Breeze Barter Private Limited |
|
10000 |
|
Gateway Commodities Private Limited |
|
10000 |
|
Megdoot Vyapaar Private Limited |
|
7500 |
|
Shiv Shakti Barter Private Limited |
|
10000 |
|
Rishikesh Commercial Company Private Limited |
|
10000 |
|
Green Mark Securities Private Limited |
|
4000 |
|
|
Total
|
260300 |
Equity Shares Breakup (Percentage of Total Equity): (as on 31.03.2007):-
|
Sr No. |
Category |
Percentage |
|
1 |
Bodies Corporate |
22.00 |
|
2 |
Directors or relative of directors |
71.00 |
|
3 |
Others top fifty (50) shareholders |
7.00 |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Bulk Drugs and Pharmaceuticals Products. |
|
|
|
|
Products : |
Allopathic Tablets |
GENERAL
INFORMATION
|
Financial Institutions: |
Rajasthan Financial Corporation Udyog Bhawan,
Jaipur, Rajasthan, India |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
M/s R K Dhandia and Company Chartered Accountants |
|
Address : |
22 Moti Doongri Circle, Jaipur – 302 004, Rajasthan, India |
|
Tel. No.: |
91-141-2608822 |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
260300 |
Equity shares |
Rs. 10/-
each |
Rs. 2.603
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
2.603 |
1.718 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
4.895 |
1.866 |
|
|
4] (Accumulated Losses) |
|
0.000 |
[1.836] |
|
|
NETWORTH |
|
7.498 |
1.748 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
28.407 |
21.587 |
|
|
TOTAL BORROWING |
|
28.407 |
21.587 |
|
|
DEFERRED TAX LIABILITIES |
|
0.996 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
36.901 |
23.335 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
18.643 |
5.022 |
|
|
Capital work-in-progress |
|
0.000 |
3.901 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
12.879 |
8.516 |
|
|
Sundry Debtors |
|
2.766 |
1.264 |
|
|
Cash & Bank Balances |
|
2.040 |
4.703 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
1.946 |
0.588 |
|
Total
Current Assets |
|
19.631 |
15.071 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
0.171 |
0.109 |
|
|
Provisions |
|
1.202 |
0.550 |
|
Total
Current Liabilities |
|
1.373 |
0.659 |
|
|
Net Current Assets |
|
18.258 |
14.412 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
36.901 |
23.335 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
49.881 |
38.486 |
30.179 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income |
49.881 |
38.486 |
30.179 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
4.231 |
0.266 |
[0.080] |
|
|
Provision for Taxation |
2.020 |
0.673 |
0.000 |
|
|
Profit/(Loss) After Tax |
2.211 |
[0.407] |
[0.080] |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Depreciation & Amortization |
0.501 |
0.322 |
0.292 |
|
Total Expenditure |
0.501 |
0.322 |
0.292 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
4.43
|
[1.06] |
[0.27] |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.48
|
0.69 |
[0.27] |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.05
|
0.06 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.56
|
0.15 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.97
|
12.72 |
NA |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
14.29
|
22.86 |
NA |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
|
Name of the
company |
DD PHARMACEUTICALS PRIVATE LIMITED |
|
Presented By |
Mr. Prakash
Choudhari , Director |
|
1) Date and
description of instrument creating the change |
Letter of hypothecation
of tangible movable property to secure loans and subsidy , dated 20.11.1995 Equitable
mortgage by way of deposit of title deed letter dated 20.11.1995 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 2.000 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 |
Equitable
mortgage of companies land, building, structure, fixed plant and machinery and
ii) all existing and future plant and machinery, fittings, electrical
installation on more specifically mentioned in the agreement. All situated at
I-583 RIICO Industrial Area Sitapur, Jaipur. Interest @20% p.a
if no refinance Interest @ 18% if
refinance Margin 450% |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Repayment in 8 years in quarterly
installments. The first installments
to start on 01.05.1997 |
|
5) Name and
Address and description of the person entitled to the charge. |
Rajasthan Financial Corporation Udyog Bhawan, Jaipur, Rajasthan, India |
|
6) Date and brief description of instrument
modifying the charge |
NA |
|
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. |
NA |
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.40.14 |
|
UK Pound |
1 |
Rs.79.66 |
|
Euro |
1 |
Rs.62.92 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|