MIRA
INFORM REPORT
|
Report Date : |
13.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
UNIMARK REMEDIES LIMITED |
|
|
|
|
Registered Office : |
19, Crystal, 1st Floor, Juhu Road, Santacurz (West), Mumbai-400054,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
01.12.1993 |
|
|
|
|
Com. Reg. No.: |
11-75373 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U23200MH1993PLC075373 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMU03720G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACU0589R |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturer of Bulk
Drugs. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 5700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established and reputed company having satisfactory track. Directors are
reported as experienced, respectable and having satisfactory means of their own.
Their trade relations are reported as fair. Payments are usually correct and
as per commitments. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
19, Crystal, 1st Floor, Juhu Road, Santacurz (West),
Mumbai-400054, Maharashtra, India |
|
Tel. No.: |
91-22-26464769 /
26040361 |
|
Fax No.: |
91-22-26463772 /
26007917 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
41/42/42A/43,
G.I.D.C. Industrial Estate, 1st Phase, Vapi – 396 195, Gujarat,
India |
|
Tel. No.: |
91-260-2420639/ 40 |
|
Fax No.: |
91-260-2420161/ 2424390 |
|
|
|
|
Factory : |
300/337/338,
Kerala Nalsarovar Road, Village Kerala, Taluka Bavla, Ahmedabad – 380 220,
Gujarat, India |
|
Tel. No.: |
91-2714-268484/ 5/ 6 |
|
Fax No.: |
91-2714-268381/ 3 |
|
|
|
|
Godown : |
Near Marwell
Engineering Works, Koparkhairne, Vashi, Navi Mumbai – 400 705, Maharashtra |
|
Tel. No.: |
91-22-27687728 |
DIRECTORS
|
Name : |
Mr.
Jayant M. Parekh |
|
Designation : |
Chairman (Professional) |
|
Address : |
Concord Apartments, 12th Floor,
Bullock Road, Bandstand, Bandra [West], Mumbai – 400050, Maharashtra, India |
|
Date of Birth
: |
06.09.1930 |
|
Qualification
: |
B.Com.
A.C.A. |
|
Experience : |
Chartered
Accountant with over 44 years of experience in the pharmaceutical industry.
Professional experience of 38 years with the Franco Indian Pharmaceuticals |
|
Date of
Appointment : |
17.07.1995 |
|
Functional Responsibilities : |
Involved
in policy matters of the company |
|
|
|
|
Name : |
Mr.
Sandip Jayant Parekh |
|
Designation : |
Technical Director |
|
Address
|
Concord Apartments, 12th Floor,
Bullock Road, Bandstand, Bandra [West], Mumbai – 400050, Maharashtra, India |
|
Date
of Birth : |
24.01.1968 |
|
Qualification
: |
M.
Sc.( Org. Chem. ) from IIT, Mumbai |
|
Experience : |
Masters
in Organic Chemistry from IIT, Mumbai. 18 years of experience in
manufacturing and R&D in the pharmaceutical industry |
|
Date of
Appointment |
01.12.1993 |
|
Functional Responsibilities : |
Responsible
for all the Technical (including R & D) and Human Resources Management of
the Production facilities |
|
|
|
|
Name : |
Mr.
Mehul Jayant Parekh |
|
Designation : |
Executive Director |
|
Address
|
Concord Apartments, 12th Floor,
Bullock Road, Bandstand, Bandra [West], Mumbai – 400050, Maharashtra, India |
|
Date
of Birth : |
26.11.1958 |
|
Qualification
: |
B.Com |
|
Date of
Appointment : |
06.03.1995 |
|
Experience : |
25 years
of experience in the pharmaceutical industry. Responsible for providing
strategic direction to the company and implementation of corporate objectives |
|
Functional Responsibilities : |
CEO of
the Company. Responsibilities in formulating and implementation of Corporate
objectives and direction for the Company |
|
|
|
|
Name : |
Mr.
Jayant V. Parekh |
|
Designation : |
Director |
|
Address
|
Concord Apartments, 12th Floor, Bullock
Road, Bandstand, Bandra (West), Mumbai – 400 050 |
|
Date of
Appointment |
17.07.1995 |
|
|
|
|
Name : |
Mr.
Yogesh N. Parekh |
|
Designation : |
Finance Director |
|
Address
|
C-36, Gujarat Society, 2nd Floor, Vile
Parle (East), Mumbai – 400 057 |
|
Date
of Birth : |
03.03.1959 |
|
Qualification
: |
B.
Com, F.C.A |
|
Date of
Appointment: |
17.07.1995 |
|
Experience : |
Chartered
Accountant with over 25 years of experience in Financial accounting, Taxation
and Logistics |
|
Functional Responsibilities : |
Looks
after complete Financial Leagal and Logistic Management |
|
|
|
|
Name : |
Mr.
Pramod D. Shedde |
|
Designation : |
Director |
|
Address
|
B/11, Ocean Gold, Twin Tower Lane, Prabhadevi,
Mumbai – 400 025 |
|
Date of
Appointment : |
01.02.2001 |
|
Date
of Ceasing : |
07.11.2001 |
|
|
|
|
Name : |
Mr.
Abhijit Sen |
|
Designation : |
Director |
|
Address
|
6, Gurusadan Road, Kolkata – 700 009, West Bengal
|
|
Date of
Appointment : |
07.09.2000 |
|
Date
of Ceasing : |
07.11.2001 |
|
|
|
|
Name : |
Mr. Vijay Indravadan Dave |
|
Designation : |
Director |
|
Address
|
7/27, Binakunj, behind Aurora Cinema, Matunga,
Mumbai – 400019, Maharashtra, India |
|
Date of Birth
: |
14.10.1957 |
|
Date of
Appointment : |
20.08.2004 |
|
|
|
|
Name : |
Mr. Harmander Palsingh Chawla |
|
Designation : |
Director |
|
Address
|
1022, Sector 44B, Chandigarh – 160047 |
|
Date of Birth
: |
14.04.1940 |
|
Qualification: |
40 years in Synthetics drugs. |
|
Date of
Appointment : |
04.03.2005 |
|
Functional Responsibilities : |
Responsible
for Innovations of API Products by
use of Chiral technology |
KEY EXECUTIVES
|
Name : |
Mr. Sunil G Nair |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 28.03.2006
|
Names of Shareholders |
|
No. of Shares |
|
Hitesh Parikh |
|
229412 |
|
Priti Parikh |
|
200000 |
|
Ashok Palvia |
|
125000 |
|
Paresh Kadakia |
|
125000 |
|
Ketan Sukhadia |
|
175000 |
|
Anuj Sukhadia |
|
175000 |
|
Jigna Sukhadia |
|
150000 |
|
Chaya Sukhadia |
|
150000 |
|
Pooja Sukhadia |
|
50000 |
|
Aesha Sukhadia |
|
50000 |
|
Niranhan Gupta |
|
100000 |
|
Jayesh Gandhi |
|
100000 |
|
Amul Vora |
|
75000 |
|
Nilay Vora |
|
75000 |
|
Shahid
Rangoonwala |
|
75000 |
|
Roopa Rangoonwala
|
|
75000 |
|
Amrita Advisors
Private Limited |
|
100000 |
|
Total |
|
2029412 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Bulk Drugs. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Countries : |
Europe and Asian
countries |
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Countries : |
China and Europe |
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Purchasing : |
L/C, D/A or D/P |
GENERAL
INFORMATION
|
No. of Employees : |
600 |
|
|
|
|
Bankers : |
·
Bank of
Maharashtra, S. V. Road, Khar Branch, Mumbai – 400 052, Maharashtra ·
Bank of Baroda,
Santacruz (West) Branch, Mumbai - 400
054 ·
Canara Bank,
Tamarind Lane, 8/10, Calicot House, Mumbai
- 400 023 ·
Citi Bank
·
State Bank
of Indore ·
The Hong
Kong and Shanghai Banking Corporation Limited ·
Export
Import Bank of India, Centre on Building, Floor 21, World Trade Centre
Complex, Cuffe Parade, Mumbai – 400005, Maharashtra, India |
|
|
|
|
Banking
Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name : |
Rege and Thakker Chartered
Accountants |
|
Address : |
5B, Fairy Manor, 13,
Rustom Sidhwa Marg, Fort, Mumbai – 400 001, Maharashtra, India |
|
Tel. No.: |
91-22-22658613 |
|
Mobile No.: |
91-22-22632884 |
|
Fax No.: |
|
|
|
|
|
Associates/Subsidiaries : |
·
Unimark Remedies Hong
Kong Limited ·
Eastern Remedies |
CAPITAL STRUCTURE
As on 27.10.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35000000 |
Equity Shares |
Rs. 10/- each |
Rs. 350.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|||
|
10000000 |
Equity shares |
Rs. 10/- each |
Rs. 100.000
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 |
100.000 |
100.000 |
79.706 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1044.400 |
762.386 |
511.144 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1144.400 |
862.386 |
590.850 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1440.200 |
1080.188 |
1076.414 |
|
|
2] Unsecured Loans |
25.400 |
1.950 |
1.750 |
|
|
TOTAL BORROWING |
1465.600 |
1082.138 |
1078.164 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
210.201 |
162.501 |
|
|
Deferred Credit |
0.000 |
23.218 |
23.218 |
|
|
|
|
|
|
|
|
TOTAL |
2610.000 |
2177.943 |
1854.733 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1431.300 |
1305.693 |
1102.504 |
|
|
Capital work-in-progress |
290.300 |
142.328 |
59.853 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.400 |
0.352 |
0.346 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
679.000
|
613.066 |
575.970 |
|
|
Sundry Debtors |
1085.200
|
734.154 |
387.851 |
|
|
Cash & Bank Balances |
63.100
|
51.933 |
25.321 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
106.400
|
60.845 |
45.995 |
|
Total
Current Assets |
1933.700
|
1459.998 |
1035.137 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
1043.400
|
696.750 |
344.490 |
|
|
Provisions |
8.400
|
37.721 |
4.661 |
|
Total
Current Liabilities |
1051.800
|
734.471
|
349.151 |
|
|
Net Current Assets |
881.900
|
725.527 |
685.986 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
6.100 |
4.043 |
6.044 |
|
|
|
|
|
|
|
|
TOTAL |
2610.000 |
2177.943 |
1854.733 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
|
|
|
|
|
|
Sales Turnover |
4641.000 |
3307.500 |
2263.400 |
|
|
Other Income |
0.100 |
1.400 |
0.000 |
|
|
Total Income |
4641.100 |
3308.900 |
2263.400 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
396.000 |
358.200 |
197.200 |
|
|
Provision for Taxation |
114.000 |
107.000 |
55.000 |
|
|
Profit/(Loss) After Tax |
282.000 |
251.200 |
142.200 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Miscellaneous Expenses |
43.000 |
47.700 |
36.300 |
|
|
Manufacturing Expenses |
56.900 |
50.800 |
40.000 |
|
|
Administrative Expenses |
208.800 |
179.200 |
133.400 |
|
|
Raw Material Consumed |
2998.500 |
1950.000 |
1362.500 |
|
|
Excise Duty |
434.700 |
235.400 |
209.200 |
|
|
Employee Costs |
143.600 |
112.700 |
83.800 |
|
|
Increase/(Decrease) in Finished Goods |
[49.600] |
[26.500] |
[74.900] |
|
|
Interest and Financial Charges |
147.100 |
118.700 |
108.100 |
|
|
Power & Fuel |
177.600 |
159.000 |
113.200 |
|
|
Depreciation & Amortization |
84.500 |
70.700 |
54.600 |
|
Total Expenditure |
4245.100 |
2950.700 |
2066.200 |
|
KEY RATIOS
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Debt- Equity Shares |
1.28 |
1.52 |
2.06 |
|
Long Term Debt-Equity Shares |
0.55 |
0.87 |
1.30 |
|
Current Ratio |
0.98 |
1.04 |
1.16 |
|
TURNOVER RATIOS |
|
|
|
|
Fixed Assets |
2.83 |
2.36 |
2.02 |
|
Inventory |
7.18 |
5.56 |
4.26 |
|
Debtors |
5.10 |
5.90 |
5.48 |
|
Interest Cover Ratio |
3.69 |
4.02 |
2.82 |
|
Operating Profit Margin (%) |
13.52 |
16.56 |
15.90 |
|
Profit Before Interest and Tax Margin (%) |
11.70 |
14.42 |
13.49 |
|
Cash Profit Margin (%) |
7.90 |
9.73 |
8.69 |
|
Adjusted Net Profit Margin (%) |
6.08 |
7.59 |
6.28 |
|
Return on Capital Employed (%) |
23.78 |
26.13 |
19.28 |
|
Return on Net Worth (%) |
28.10 |
34.57 |
27.36 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY:
Entrepreneurship started in 1984
Marketing being its inherent strength, the Company ventured
as exclusive Marketing Agent for Pfizer, BASF, UB Petro Products. Core
competence in marketing and related success led to access to more than 75% of
Indian Pharma market in value terms.
Current investment in fixed assetts exceed USD $ 40 million.
COVERAGE:
After consolidating and sustaining its growth in the unregulated market,
strategic plans have been put into action for opportunities in the regulated
markets after the expiry of their patent. Present market coverage encompasses
more than 65 countries with appreciable market share in few major countries.
In many Latin American countries, the company is already registered as approved
Generic Supplier along with few international major API suppliers.
The key driver of its growth is the implementation of niche
higher margin low value APIs with scope of improved potential across the globe.
The company covers more than 70% of the Formulation
companies in India demonstrating its wide Customer Base Coverage.
GLOBAL LEADERSHIP:
Today the company enjoys Global Leadership for products like
Nalidixic Acid, Nimesulide, Albendazole, Cefaclor, Cefixime, Lisinopril and
Intermediates like 7-ANCA and 7-ACCA.
Trade References:
Ø
BASF, Germany
Ø
Dupont, Germany
Ø
Wacker, Germany
Ø
Pfizer India Limited
Ø
Wockhardt Limited
Ø
Ranbaxy Laboratories Limited
Ø
Lyka Labs Limited
Form 8:
|
Corporate identity
number of the company |
U23200MH1993PLC075373 |
|
Name of the
company |
UNIMARK REMEDIES
LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
19, Crystal, 1st Floor, Juhu Road, Santacruz
(West), Mumbai – 400 054,
Maharashtra, INDIA |
|
This form is for |
Modification of
charge |
|
Type of charge |
Hypothecation |
|
Particular of
charge holder |
Export Import
Bank of India Centre on Building,
Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai – 400005,
Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of
hypothecation executed by Unimark Remedies Limited in favour of Export Import
Bank of India |
|
Date of instrument
Creating the charge |
17.05.2004 |
|
Amount secured by
the charge |
Rs. 2.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
As per schedule
Ii of the deed of hypothecation dated 17.05.2004 |
|
Description of
the property charged |
Furniture and
Fixture, Plant and Machinery, Stock in trade, Book debts and Vehicles |
|
Charge
identification number of the charge to be modified |
90164479 |
|
Date of
instrument modifying |
14.06.2006 |
|
Particulars of
the present modification |
The security
created under the deed of hypothecation
dated 17.05.2004 in favour of Export Import Bank of India for the
dollar loan of USD 2 millions over the borrowers moveable assets briefly
descried in schedule III to the principal deed and also in schedule II B to
the supplemental deed of hypothecation dated 14.06.2006 shall stand modified so as to be now available for the dollar loan upto
the enhanced limit of USD 6.45 million dated 14.06.2006 service fee, costs
charges and expenses and all other monies payable by the borrower to Exim
Bank under the supplemental dollar loan agreement. The charge
created by the supplemental deed of hypothecation shall operate as a
continuing by way of pari passu first charge over the borrower movable fixed
assets and pari passu first charge
over the borrower current assets for the due repayment by the charged created
under the principal deed as modified by the supplemental deed of
hypothecation in favour of Exim bank shall rank in the order or priority set
out in schedule III to the supplemental deed of hypothecation. Save as so
modified all the terms, conditions, covenants undertakings and indemnities
contained in the principal deed and applicable to the enhanced dollar loan
and the principal deed as remain in full force and effect until the enhanced
dollar loan of USD 6.45 million interest and all other monies payable under
the supplemental dollar loan agreement shall have been paid to Exim Bank in
full and the principal deed shall be read and construed in all respects
accordingly. |
AS PER WEBSITE
Culture
- To create and
sustain value with a deeply embedded corporate culture of Commitment, Core
Value, Integrity and Continuous search for excellence.
- To be sought
after as best employer and well respected by the business community and by
their competitors.
Overview
Subject is a Research Driven
Pharmaceutical Company primarily engaged in the manufacturing of APIs and
Advanced Intermediates. Since 1995 company has developed vast skills in the
areas of Process R and D, Process Chemistry Skills, Handling Complex Chemical
Reactions and expertise in marketing of APIs and Specialty Intermediates in India
and Globally.
In a challenging economic environment Subject has emerged as a leading
manufacturer of Active Pharmaceutical Ingredients (APIs) and Specialty
Intermediates in India with estimated Sales Turnover of approx. US $ 90
Million.
Subject was incepted in 1984 as the exclusive Marketing Agent for Pfizer, BASF,
UB Petro Products. Subject’s
core competence in marketing and logistics facilitated inroads
to successfully access more than 75% of the domestic pharma market in value
terms of its range of products.
In 1996, subject entered the API manufacturing Activity as part of backward
integration with an emphasis on cost effective process and economics of scale.
Subject has successfully grown this business to US $ 90 Million. Subject
has today strategically positioned itself as a non competing supplier to Global
players such as Ranbaxy, West-ward Pharm, Pfizer (USA), GSK (UK), Apotex,
Watson (USA), Shinpoong (Korea), CKD (Korea), Canada and other Pharma majors.
NET WORTH:
As of 31/03/2006 the Net worth of the company is US $ 20 Million
Milestones:
1983 Underwriting
production – Pfizer, BASF, Wockhardt.
1995 Commenced
manufacturing operation in Vapi (Multipurpose).
1998 Commenced
manufacturing operation in Ahmedabad (Cephalosporins).
2000 70%
Domestic pharma market coverage.
2004 Plants
compliant to international Audit Entry into regulated markets.
2005 Tied-up
with leading Generic Companies in USA, EU and Canada .
Commenced Contract Services Business.
2006 Vapi Plant US
FDA Approved.
Environmental
Policy:
Company takes all measures for Environmental Protection and complies
with the rules and regulations of Gujrat Pollution Control Board.
Modern E.T.P. with Liquid and Solid Bioaerators and Incinerators have
been installed in line with their Environmental Policy
Subject has emerged as a reliable manufacturer of API’s in focussed
category of products.
1)
Cephalosporins beta lactams
a) Cefaclor
b) Cefixime
c) Cefprozil
d) Cefuroxime Axetil
e) Cefadroxyl
2)
Penicillin’s beta lactams
a)
Ampicillin Trihydrate
b)
Amoxicillin Trihydrate
c) Cloxacillin Trihydrate
d) Dicloxacillin
e)
Flucloxacillin
f) Amipicillin Anhydrous
3)
Ace Inhibitors
a) Lisinopril
b) Benazepril
c) Ramipril
4)
Anti Asthamatic
a) Montelukast
5)
Penem beta lactams
a) Imipenem
b) Meropenem
c) Ertapenem
The Penem beta lactams are the latest development and marks the
entry of URL in the Sterile API market segment. These products are used
against gram negative bacteria which have become resistant to the SSP’s and
Cephalosporins.
URL expects these Penem beta lactams to have a promising future in
the International Markets.
Manufacturing Sites:
Ahmedabad
URL’s manufacturing site at Bavla near Ahmedabad is dedicated for
Cephalosporins (Intermediates and API’s). Having built up total reaction
volume capacity of around 160 M³, this site has recently been upgraded and
approved by US FDA.
Vapi
This manufacturing site was the first factory which marked the foray of URL in
the API manufacturing business. Having been continuously upgraded over
the years, this plant is now approved by US FDA for the products of Lisinopril,
Albendazole and Meloxicam.
R and D
Subject’s R and D center at
Bavla is fully equipped for both lab synthesis as well as scale up. The R
and D setup is manned with 85
scientists. 22 scientists are Ph.D’s comprising of synthetic as well as
analytical development. The key objective is to develop a product involving
complex and difficult chemistries where several other companies dread and
tread. The methodology is to inculcate a scientific culture where the
aspirations of the scientists are met. The growth in terms of work satisfaction
and knowledge is an ongoing phenomenon.
The research center is complete with Analytical Development, Synthesis,
Information Center, IPR Cell and DQA
Subject’s synthetic capabilities are well versed to handle the following
reactions apart from the routine chemistries
- Hydrogenations
- Ozonization
- Oxidations
- Halogenations
- Organometallics-N-Butyl
Lithium Base Reactions and Grignard Reactions
- The focus of
RandD center is on the following:
- Development
of non-infringing processes for the off – patent or soon to become off –
patent APIs.
- Emphasis on
green chemistry and developing catalytic processes with high atom economy.
- Chemical /
Biochemical transformations involving complex and difficult chemistries.
- Developing
processes for contract manufacture or custom synthesis of NCEs and
intermediates.
RandD Division is segregated into two sections viz.
- Cephalosporins
- Non –
Cephalosporins
There is an ongoing programme, which encourages scientific interaction in
the scientific community within the organization and with outside experts from
academia and industry.
In order to meet the regulatory requirements, the company has setup an
impurity profiling section with all the analytical support.
ANALYTICAL INFRASTRUCTURE:
- · HPLC – 18
Nos.
- · Preparatory
HPLC – 1 No.
- · HPTLC – 1
No.
- · GLC – 1 No.
- · GLC with
head space analyzer – 1 No.
- · F.T. / IR –
1 No.
- · UV – 1 No.
- · NMR – 300
MHz
- · LC/MS/MS –
QTOF
All laboratory work and technology transfer activities are exhaustively
documented along with cGLP/ICH requirements in order to offer a seamless
integration of developmental activities at various scales.
CMT REPORT
(Corruption, Money Laundering and 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.42.40 |
|
UK Pound |
1 |
Rs.80.54 |
|
Euro |
1 |
Rs.62.96 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
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 |
|