MIRA
INFORM REPORT
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Report Date : |
05.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SOHAN HEALTHCARE PRIVATE LIMITED |
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Registered Office : |
Balaji Market, Main Road, Pusad, Yavatmal – 445 204, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Tentative) |
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Date of Incorporation : |
13.09.2005 |
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Com. Reg. No.: |
55 - 156017 |
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CIN No.: [Company
Identification No.] |
U85110MH2005PTC156017 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNES16498G |
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PAN No.: [Permanent
Account No.] |
AAJCS5792H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Met Formin Hydrocloride Product and Active
Pharmaceutical Bulk Drugs. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 55490 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 3 years old company having moderate track. Company’s
Profitability is under severe pressure having good amount of accumulated losses.
Trade relations are fair. Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Sohan |
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Designation : |
Managing Director |
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Contact No.: |
91-9850411431 |
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Date : |
01.08.2008 |
LOCATIONS
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Registered Office : |
Balaji Market, Main Road, Pusad, Yavatmal – 445 204, Maharashtra |
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E-Mail : |
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Website : |
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Admin Office : |
602, South Wing, Sacreed World, Wanowarie, Pune – 411 040, Maharashtra,
India |
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Tel. No.: |
91-20-40089631 |
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Mobile No.: |
91-9850411431 |
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Fax No.: |
91-20-26806911 |
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Area |
500 Sq. ft |
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Location : |
Rented |
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Factory : |
D – 30, MIDC, Kurkumbh, Tal. Daund, Dist. Pune – 413 802, Maharashtra,
India |
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Tel. No.: |
91-2117-202033 |
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Fax No.: |
91-2117-235333 |
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Area : |
25000 Sq. mtr. |
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Location : |
Leased |
DIRECTORS
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Name : |
Mr. Sohan Dilip Chakkarwal |
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Designation : |
Director |
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Address : |
Vishwanagar, Nanded – 431 602 |
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Date of Birth/Age : |
25 Years |
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Qualification : |
B. Instrumention M. S. Management |
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Name : |
Mrs. Deepali Dilip Chakkarwal |
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Designation : |
Director |
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Address : |
Vishwanagar, Nanded – 431 602 |
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Date of Birth/Age : |
45 Years |
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Qualification : |
SSC |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 20.06.2006
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Names of Shareholders |
No. of Shares |
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Mr. Sohan Dilip Chakkarwar |
5500 |
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Mrs. Deepali Dilip Chakkarwar |
9000 |
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Mr. Dilip Balaji Chakkarwar |
27222 |
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Mr. Rohan Dilip Chakkarwar |
8500 |
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Ms. Arti Rohan Chakkarwar |
2000 |
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Ms. Samrudhi Dilip Chakkarwar |
6500 |
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Mr. Murlidhar Rambhau Chakkarwar |
1000 |
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Mr. Uddhavrao Marutirao Dubbewar |
1500 |
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Mr. Shyam U. Dubbewar |
1750 |
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Total |
62972 |
LIST OF ALLOTTEES
As on 26.04.2007
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Names of Shareholders |
No. of Shares |
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Mr. Sohan Dilip Chakkarwar |
2000 |
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Mrs. Deepali Dilip Chakkarwar |
4000 |
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Mr. Dilip Balaji Chakkarwar |
19028 |
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Mr. Rohan Dilip Chakkarwar |
3000 |
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Mrs. Arti Rohan Chakkarwar |
2000 |
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Mr. Ram Narayan Soni |
6000 |
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Total |
36028 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Met Formin Hydrocloride Product and Active
Pharmaceutical Bulk Drugs. |
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Exports : |
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Products : |
v Metformin
Hydrocloride v Finish Product |
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Countries : |
v Srilanka v Middle East
Countries v Singapore v African
Countries |
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Imports : |
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Products : |
v DCDA v Raw Materials |
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Countries : |
v China |
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Terms : |
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Selling : |
L/C, Credit ( 30 – 60 days) |
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Purchasing : |
L/C, Cash and Credit ( 30 – 60 – 90 days) |
GENERAL
INFORMATION
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Suppliers : |
v Balaji Sourcing
Private Limited v Deepak
Fertilizers and Petrochemicals Private Limited v Glaxo Smith Kine
Pharmaceuticals Private Limited v Mitsu Chem
Private Limited v Aakar Scientific
Instruments Private Limited v Aarju Stone
Traders v Airpack Filters
and Systems Private Limited v Ambika Vijay
Works v Ana Laboratories v Chemixil v Chinwalas
Private Limited v Cintex
Industrial Corporation v Consolidated
Hoisters Private Limited v Devi
Construction v Dhupar Brothers v Everest Blowers v FCO Hi Tech
Private Limited v Ganraj Foods v GMM Pfaudler
Limited v Huphen
Electromech Private Limited v India Mart Inter
Mesh Limited v Industrial Transport
Organisation v International
Drug and Chemical and Company v ION Exchange
Service Limited v Kala Genset
Private Limited v Kothari Pharma v Mandar
Enterprises v Marias
Healthcare v Mayur Chem v M. Ravikumar v Nana Jagade v Neelam Metals v New India
Industrial Service v Nilgiri
Industrial Stoneware Company Limited v Niranjan kitad v Paharpoor
Cooling Tower v Pan Card
Collection v Penguine
Electricals v Perfect
Consultants v Pionee Furniture v Rajendra
Mechanical Industries Limited v Rohi Padalia v Saffro Media
Private Limited v Ahazeen Poonawala v Shriji Hardware v Swastik N
Enterprises v S S Lubricants v S P Traders v Sansui
Electrical Private Limited v Swastic
Engineering and Valves Manufacturing v Swastik
Engineers v Vinayak Agencies v V S Krishnaswami v Technologic
Engineers |
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Customers : |
v Wholesalers v Retailers v End Users v Centurion
Laboratories v Danmed
Pharmaceuticals Private Limited v Dipali
Enterprises Private Limited v Impact Labs
Private Limited v Indu Drugs v Manohar Pharma v M/s. Chimak
Healthcare v M/s. Solan Drugs
Private Limited v Plethico Pharmaceuticals
Limited v Poly Drug
Laboratories Private Limited v Shruti Bulk
Drugs Private Limited v Swiss Garnier
Life Sciences v Vaishali
Pharmachem v V S
International Private Limited |
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No. of Employees : |
Total : 54 (Office: 04, Factory : 50) |
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Bankers : |
v Punjab National
Bank Nanded Branch, Old Mondha, Nanded – 431 601, Maharashtra, India v State Bank of
India |
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Facilities : |
Secured Loans (Rs. In millions)
Unsecured Loans (Rs. In millions)
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Auditors : |
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Name : |
Mr. Malpani and Company Chartered Accountants |
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Sister Concerns : |
v M/s. Balaji
Agency Address: Pusad Tel
No.: 91-246450 v Shrinivas Cattle
Feeds Private Limited Address:
Nanded Tel
No.: 91-2277096 v Shiva Parvati
Poultry Feeds Private Limited Address: Hingoli Tel No.: 91-248011/
2207251 v Sohan
Construction Company Address: Nanded Tel No.: 91-226961/ 250941 v Balaji
Fertilizer Private Limited Adderess: Nanded Tel
No.: 91-2285270 v Devgiri
Fertilizer Private Limited Address: Aurangabad Tel No.: 91-2341942 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity shares |
Rs. 100/- each |
Rs. 20.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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120000 |
Equity shares |
Rs. 100/- each |
Rs. 12.000 millions |
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Name |
Amount |
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Mrs. Aarti Rohan Chakkarwar |
Rs. 0.400
million |
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Mrs. Deepali Dilip Chakkarwar |
Rs. 1.400
millions |
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Mr. Sohan Dilip Chakkarwar |
Rs. 0.850
million |
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Mr. Dilip B. Chakkarwar |
Rs. 4.525
millions |
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Mr. Murlidhar Rambhau Chakkarwar |
Rs. 0.100
million |
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Mr. Rohan D. Chakkarwar |
Rs. 1.150
millions |
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Ms. Samrudhi D. Chakkarwar |
Rs. 0.650
million |
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Mr. Shyam U. Dubbewar |
Rs. 0.175
million |
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Mr. Uddhavrao M. Dubbewar |
Rs. 0.150
million |
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Mr. Ram Narayan Soni |
Rs. 0.600
million |
|
Induja Traders Private Limited |
Rs. 0.480
million |
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Pet Plastics Limited |
Rs. 1.060
millions |
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Alpha Garphier India |
Rs. 0.460
million |
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Total |
Rs. 12.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 (Tentative) |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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12.000 |
10.100 |
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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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8.000 |
0.000 |
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4] (Accumulated Losses) |
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(8.902) |
(0.190) |
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NETWORTH |
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11.098 |
9.910 |
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LOAN FUNDS |
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1] Secured Loans |
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45.599 |
27.391 |
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2] Unsecured Loans |
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7.377 |
3.900 |
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TOTAL BORROWING |
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52.976 |
31.291 |
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DEFERRED TAX LIABILITIES |
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0.003 |
0.003 |
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TOTAL |
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64.077 |
41.204 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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40.964 |
0.052 |
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Capital work-in-progress |
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0.000 |
35.316 |
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INVESTMENT |
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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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11.054 |
0.000 |
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Sundry Debtors |
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3.326 |
0.000 |
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Cash & Bank Balances |
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1.159 |
0.434 |
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Other Current Assets |
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8.389 |
3.515 |
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Loans & Advances |
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0.138 |
0.000 |
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Total
Current Assets |
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24.066 |
3.949 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.130 |
(1.655) |
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Provisions |
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0.289 |
0.033 |
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Total
Current Liabilities |
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1.419 |
(1.621) |
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Net Current Assets |
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22.647 |
5.570 |
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MISCELLANEOUS EXPENSES |
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0.465 |
0.267 |
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TOTAL |
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64.077 |
41.204 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Sales Turnover |
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18.709 |
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Other Income |
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0.283 |
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Total Income |
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18.992 |
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Profit/(Loss) Before Tax |
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(8.711) |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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(8.711) |
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Expenditures : |
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Purchases made for re-sale |
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11.037 |
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Direct Expenses |
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5.508 |
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Operating Expenses |
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2.006 |
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Interest |
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4.090 |
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Depreciation & Amortization |
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5.061 |
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Other Expenditure |
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0.001 |
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Total Expenditure |
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27.703 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
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(45.87) |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
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(46.56) |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(45.87) |
-- |
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Return on Investment (ROI) (PBT/Networth) |
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0.78 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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0.12 |
(0.16) |
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Current Ratio (Current Asset/Current Liability) |
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16.96 |
(2.44) |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
Vidhi Bulk Drugs
v
Ningxia Minmetals Science Industry and Trade Company Limited
No. 338, Zhenqyyun, South Street, Yinchuan Ningxia - China
v
Poly Drug Lab Private Limited
A – 201/202, Navbharat Estate, Jakaria Bunder Road, Seweri (West),
Mumbai – 400 078, Maharashtra, India
Mr. Puneet
Tel No.: 91-22-24106001
v
Franco India Pharmaceutical Limited
76- 680, V. Jagtap marg, Mumbai – 400 011, Maharashtra, India
Mr. Nelson
Mobile No.: 91-9819158528
v Pelltech
Healthcare Private Limited
202, Sonmar Apartments, Dharuwal Compound, Above Axis Bank, S V Road,
Malad (West), Mumbai – 400 064, Maharashtra, India
Mr. jayesh Rawal
Tel No.: 91-22-65164880
v Hildos – Mumbai
v Viddhi Bul Drugs – Gurgaon
v Madras Pharmaceuticals Company – Chennai
Trust Seal Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
Soham Healthcare Private Limited |
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Address |
D – 30, MIDC, Kurkumbh, Tal. Daund, Dist. Pune – 413 802, Maharashtra,
India |
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Mobile No |
91-9850411431 |
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Fax No |
91-20-26806911 |
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Electricity Bill |
173619038740 |
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Statutory Approvals |
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Legal Status of Firm |
Private Limited Company |
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Income Tax Registration |
AAJCS5792H |
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Central Sales Tax Registration |
413801/ C10229 dt. 23.02.2006 |
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State Sales Tax Registration |
413801/ V10039 dt. 23.02.2006 |
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Service Tax Registration |
P 111/ GTA – 707/ STC/ 06 |
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VAT / TIN Registration |
27600515173 |
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Excise Registration |
AAJCSS792HXM001 |
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Import Export Code |
0307018571 dt. 04.06.2007 |
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Name of Bank |
Punjab National Bank |
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Current Account Number |
0386008707006896 |
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Account Since |
2 Years |
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Emp PF Reg. Number |
MH/ Pun/ 124083 |
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Credibility Factors |
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India Mart Client Since |
March 2008 |
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Year of Establishment |
13.09.2005 |
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Trade Affiliations |
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SSI Registration |
270251200295 part II |
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Export Promotion Council |
PXL/SSM/11/RD/SHPL/ 5128 |
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Standards and Certifications |
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Environment Management Systems |
BO/Ropune/PCI7/EIC No1693071 |
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Safety Certificates |
R/ CC578 |
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Other Certificates |
Cas 1115-70-4 |
Form 8
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This form is for |
Modification of charge |
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Charge identification No. |
10009886 |
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Corporation identity number (CIN) or foreign company registrations number of the company |
U85110MH2005PTC156017 |
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Name of the company |
SOHAN HEALTHCARE PRIVATE LIMITED |
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Address |
Dist. Yavatmal – 445 204, Maharashtra, India |
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Type of Charges |
v Hypothecation v Others |
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Particular of the charge holder |
Name : Punjab National Bank Address: Nanded Branch, Old Mondha City: Nanded State: Maharashtra Country: IN Pin code: 431 601 e-mail ID: sohanhealthcare@gmail.com |
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Amount Secure by the charge |
Rs. 34.000 millions |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
Term Loan Rs. 0.203 million: Margin 25% Interest BPLR + 0.50 As applicable to new project minus 1.25% i.e.@ 10.00% subject to change as per la circular issued from time to time, repayment in 22 quarterly installment of Rs. 0.922 million each starting after 18 months from date of first disbursement or 6 months from commencement of commercial production. Cash credit: margin 25% of stocks, 40% of Book debts, Interest BPLR – 1.25% i.e. @9.50% Subject to change as per LA circular issued from time to time. |
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Description of the property charged |
v Plant and Machinery v Stock in trade v Book debts v Others |
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Short particulars of the Property charged |
Hypothecation of plant and machinery, Electrical, other Misc. Assets. Hypothecation of stocks of raw materials, SIP and finished goods such as Dicy and Iamide, Dimethylamine Hydrocloride, Xelyne, Methonol, activated carbon, Hyflosuper cells and Metformin Hydrochloride, Packing Material and Entire Book debts of company. |
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Brief description of the instrument modifying the charge under section 135 |
Letter of deposit of Title Deed for 3 different properties. |
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Date of latest modification prior to the present modification |
21.07.2006 |
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Particulars of the present modification |
Letter of deposit of Title Deed deposited in the bank on 21.05.2006 for the total loan amount of Rs. 0.502 million for Plot No. 7, Motinagar, Pusad, Plot No. 9, D-30, Kurkumbh. |
As Per Website Details
Introduction
Subject is an API [Active
Pharmaceutical Ingredients] manufacturing plant set up in Kurkhumbh in 2006.
Kurkhumbh, an upcoming dynamic manufacturing suburb, is located 70 kms from the
vibrant city of Pune in Maharashtra. The 30,000 sq ft built up plant spans over
20,000 sq mts of land and is in compliance with state-of-the-art facilities and
high, world-class manufacturing standards.
The primary focus, based on extensive market research, is on
manufacturing anti-diabetic medication. Estimated to be one of the fastest
growing therapeutic segments, they at subject currently
manufacture Metformin Hydrocholoride. The dedicated team is currently working
on lining up a battery of other medication that they will soon be able to
manufacture.
Subject has serviced the Indian market, upholding significant values of
supremacy complimented with authenticity. Be it edible oil, fertilizers,
agricultural machinery treading or road construction; the work towards creating
a better future has been applauded and valued. It is this relentless
perseverance for taking the products and services to new heights, that led us
to.
Facilities
The facility is built in compliance with CGMP
and USFDA standards, coupled with the best process equipment and utilities. The
facilities include DM plant, AHU system and pollution control equipments; which
outline the values of providing a safe and healthy environment.
The Instrument,
Chemical and Microbiological laboratories are well armed with sophisticated and
fully functional equipment that allows us to incorporate in-house testing
facility. This maintains a check at every possible stage, which allows us to
live up to the endeavour of excellent quality, delivered under state-of-art
conditions.
The Plant layout, machinery, lab equipment
and utility has been designed keeping in mind further expansion. Making it easy
to upgrade the capacity and widen the product range, without bending the
regular commitments.
Fixed Assets
v Computer
v Furniture and Fixtures
v Factory Building
v Lab Equipments
v Machinery
v Plant and Machinery
v Land
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 :
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 42.28 |
|
UK Pound |
1 |
Rs. 82.79 |
|
Euro |
1 |
Rs. 65.69 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|