MIRA
INFORM REPORT
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Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SWISS GARNIER LIFE SCIENCES |
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Registered Office : |
No. 68 A, Vembuli, Amman Koil Street, Alandur, Chennai – 600 016, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
2004 (Production Started during the Year 2006) |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PTLS15939A |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers and Job Work of Pharmaceutical Formulations i.e. P2P
basis for the pharmaceutical companies in India mostly Tablets, Sachets,
Capsules. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 250000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established and reputed concern having satisfactory track. Partners are reported
as experienced and respectable businessmen. Trade relations
are fair. Business is active. Payments are
usually correct and as per commitments. The concern can be considered normal
for business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Alex John |
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Designation : |
Senior Accountants |
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Contact No.: |
91-9884262082 |
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Date : |
22.08.2008 |
LOCATIONS
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Registered Office : |
No. 68 A, Vembuli, Amman Koil Street, Alandur, Chennai – 600 016,
Tamilnadu, India |
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Tel. No.: |
91-44-22312896/ 22329837/ 22312892 |
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Mobile No.: |
91-9318909207 / 9884075967 |
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Fax No.: |
91-44-22327930 |
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E-Mail : |
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Website : |
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Area : |
2000 sq. ft. |
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Location : |
Rented |
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Factory : |
No. 21-23, Industrial Area, Mehalpur District, UNA, Himachal Pradesh –
174 315, India |
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Tel. No.: |
91-1975-232078/ 230850 |
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Fax No.: |
91-1975-230928 |
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E-Mail : |
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Area : |
60000 sq. ft. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. M. S. Thenvendran |
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Designation : |
Partner |
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Address : |
Alandur, Chennai – 600 016, Tamilnadu, India |
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Date of Birth/Age : |
48 Years |
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Qualification : |
B. Tech. |
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Experience : |
20 Years |
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Name : |
Mrs. T. Rathanamali |
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Designation : |
Partner |
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Address : |
Alandur, Chennai – 600 016, Tamilnadu, India |
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Date of Birth/Age : |
43 Years |
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Qualification : |
M. S. C., B.ed |
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Experience : |
10 Years |
KEY EXECUTIVES
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Name : |
Mr. Alex John |
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Designation : |
Senior Accountants |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Job Work of Pharmaceutical Formulations i.e. P2P
basis for the pharmaceutical companies in India mostly Tablets, Sachets,
Capsules. |
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Products : |
© Tablets © Sachets © Capsules |
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Export : |
Subject want to start Exports |
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Import : |
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Products : |
Chemicals, Raw Materials for own use
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Countries : |
Europe, Far East |
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Terms : |
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Selling : |
Cash, Credit (90 days) |
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Purchasing : |
L/C, Advance Payment, Cash, Credit (90 days) |
GENERAL
INFORMATION
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Suppliers : |
· Biocon, Bangalore · Associated Capsules, Mumbai, Chennai |
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Customers : |
· Wholesalers, · Job Work of Pharmaceuticals Formulations (P2P Basis) Major Customers · Orchid Group, Chennai · Lupin Labs, Mumbai |
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No. of Employees : |
240 (20 in Office and 220 in Factory) |
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Bankers : |
· State Bank of India, Address 1: Guindy Industrial Estate Branch, Guindy, Chennai – 600 032, Tamilnadu, India · State Bank of Patiala Address 1 : White Houses, Chennai - 600 014, Tamil
Nadu, India Address 2 : Mahekpur, Himachal Pradesh, India |
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Facilities : |
·
Overdraft Facility : Rs. 20.000 millions (State
Bank of India ) · Cash Credit Rs. 120.000 millions (State Bank of Patiala) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name 1 : |
Mr. Ramkumar Chartered Accountants |
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Address : |
S-1, H-88, First Sea Ward Road, Valmiki Nagar, Thiruvanimyur, Chennai
– 600 041, Tamilnadu, India |
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Mobile No.: |
91-9444025089 |
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Name 2 : |
Vora and Associates Chartered Accountants |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 50.000 millions (Estimated) |
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Borrowed : |
---- |
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Total : |
Rs. 50.000 millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 (Estimated) |
31.03.2007 |
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Sales Turnover |
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700.000 |
600.000 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
©
Fourrts India Limited
©
Orchid Pharmaceuticals Limited, Chennai
©
Wockhard Limited
©
Organ India Limited
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Lupin India
©
Euglow Pharma
©
Eltanin Health Care
Observation POINT:
Name of Board : Not Sighted
Land Mark : Near to the Guindy Railway Station
Office Appearance
: Well Furnished
Total No. of Floors : Three Floors
NOTES:-
The Corporate Office is yet to be changed
after 6 months from the present address. The company is looking for better
place for the Corporate Office in Chennai City.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.58 |
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UK Pound |
1 |
Rs.81.43 |
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Euro |
1 |
Rs.64.52 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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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, we have no basis upon which to
recommend credit dealings |
No Rating |
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