MIRA
INFORM REPORT
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Report Date : |
25.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SCHWITZ BIOTECH |
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Registered Office : |
405, Himalaya Complex, Subhash Chowk, Near A-One School, Gurukul Road,
Ahmedabad – 380 052, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1998 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Pharmaceuticals like Tablets, Injections,
Ayurvedic Drugs Etc. |
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 10000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject claims as manufacturers but factory address denied No payment
are available. The concern can be considered for small to mediocre business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Rakesh Bhattacharya |
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Designation : |
Proprietor |
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Contact No.: |
91-9825374233 |
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Date : |
20.08.2008 |
LOCATIONS
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Registered Office : |
405, Himalaya Complex, Subhash Chowk, Near A-One School, Gurukul Road,
Ahmedabad – 380 052, Gujarat, India |
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Tel. No.: |
91-79-27493057 |
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Mobile No.: |
91-9825374233 |
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Fax No.: |
91-79-27497416 |
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E-Mail : |
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Website : |
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Area : |
1250 Sq. ft. |
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Location : |
Owned |
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Factory : |
N U 4-B-603, Gandhidham (Kutch), Gujarat Province – 370 201, India |
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Tel. No. : |
91-2836-236418 |
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Fax No. : |
91-2836-230973 |
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Marketing Office
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Eagle Hawk International Company Limited |
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Contact Person : |
Mr. Micheal Zhu |
PROPRIETOR
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Name : |
Mr. Rakesh Bhattacharya |
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Designation : |
Proprietor |
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Date of Birth/Age : |
39 Years |
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Qualification : |
B.Com ICWA Marketing Management |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Pharmaceuticals like Tablets, Injections,
Ayurvedic Drugs Etc. |
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Products : |
v
Vitamins, Minerals and Nutritional and Appetite
Stimulants - RIVA v
Analgesic, Antipyretic, Anti–Allergic, Anticold and
Cough - ALTECH, LARA, SNEZE, DECUF,
EXAM, EXPEL, 3 – DEEP CREAM v
Quinolones, Antibiotics and Cephalosporins - SWITCIP–500, SWITCIP–TZ, FOLON–200, FOLON–TZ,BLEE-500,
ROXITZ–150/Kid, CAZINO–250/500, SCHYMOX–250/500, SYMOCLOX, SYMOCLOX–D,
SYMOCLAV-625/Dry Syrup, BIODROX–Kid/250/500, LEXEF–250/500, SIMM–100/200,
BIOXIM 200/100/Dry Syrup, OMYCIN–250/500, CEFFPAR–250/500/1000, SPINX – 200,
AXE-250/500 v
Non–Steroid, Anti-Inflammatory and Muscle Relaxants - SCHIFEN, DIPART, STEP - 10, STEP - D,
NEST, FULL STOP, BASE +, T IZ – 2/4 v
Antacids, Antiulcerants and Laxatives - OMESIZ, OMESIZ - D, PAUL - 40, CRAFT +,
PAUL - D, LANCER - X, REO - DSR, STOCID Gel, BIOCAIN Gel, BIOLAXX Gel,
SWIBEND Tabs/Susp’n, SUZAN, NAUCET v
Haemostats and Capillary Wall Stabilizers - HAMLET 250/500 v
Sedatives and Tranquilizers v
Anti-Malarial and Anti–Tuberculosis Solutions v
Anti-Diarrhoeals and Anti-Spasmodics v
Ayurvedic Proprietary Medicaments v
Life Saving Injectables and I.V. Fluids v
Food Supplements and Nutritional Therapy |
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Exports : |
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Countries : |
v West Africa v Philippines |
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Terms : |
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Selling : |
Credit ( 60 – 90 days) |
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Purchasing : |
Credit ( 60 – 90 days) |
GENERAL
INFORMATION
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No. of Employees : |
Total : 77 ( Office : 7, Marketing Sealed Staff : 70) |
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Bankers : |
v HDFC Bank Gandidham Branch, Ahmedabad |
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Facilities : |
CC and OD |
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Banking Relations
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Unknown |
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Auditors : |
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Name : |
Kiran and Associates Chartered Accountants |
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Address : |
Ahmedabad |
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Tel. No.: |
91-2836-222627 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 2.000 millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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25.000 |
Expected Sales (2008-09): Rs. 50.000 millions
LOCAL AGENCY FURTHER
INFORMATION
Trade References
v Care well Healthcare – Ahmedabad
Mr. Urvish Patel
As Per Website Details
Introduction
New improvements in the pharmaceutical formulations segment have been instrumental in India's huge success as a worldwide exporter. Owing to this, the domestic pharmaceutical industry has been growing at record levels and has expanded into a number of fields. With an experience spanning almost a decade in the healthcare industry, Subject offers a wide range of formulations to meet the needs of the ailing humanity. Headquartered at Ahmedabad, they are a name to reckon with in the pharma horizon across India, West Africa and Philippines. They are a leading manufacturer, exporter, marketing agent and supplier of a range of formulations including food supplements, life saving injectables, ayurvedic drug delivery systems and much more. Pioneering the efforts in providing medications for both chronic and acute medical conditions has truly led us to live up to the corporate tag line "Spread the Fragrance of Life".
In the 21" Century, Life brings New Challenges. It is hectic, strongly adaptive, endorsing Darwin’s Theory of Evolution, increasing threshold in endurance, achievements, tireless working, exploring new horizons. Old records are surpassed. New avenues, greater heights are scaled. Homo sapiens have faced squarely all the challenges from the Natural phenomenon to man made hazards, from external hosts to internal parasites. To make life more meaningful, worthy and full of pleasure is the philosophy. They contribute so as to Spread Infectious Smile to the Mankind. This being the destiny, all the destiny, all the actions are towards this Goal.
The Concern is engaged in Manufacturing Quality Formulations, with Latest Pharma machineries, State of the Art Technologies and Know how and Efficient and well Qualified Production and Quality Control Staffs, following Standard Operating Process, as framed under the provisions of the Food and Drugs Control Administration, Government of India, and has also been awarded with GMP Certification (Good Manufacturing Practice) under the Schedule "M" of the Current Drug Act. The factory has also been awarded with ISO 9001: 2000 Benchmark Certification, complying with the requirements of the Standards.
Nurturing individual initiatives and motivating team work, regular training and quality awareness Programmes has won us recognition and a sense of a sound family feeling among the associates and business partners. These efforts aggregate to ensure that, the products manufactured confirm to the demands of the Stringent Quality Control tests applied during the different stages of Production.
Values
Subject aim to become a global healthcare organization, driven by qualified
people and advanced research and technology. The intention is to contribute to
better healthcare through innovation. Since its inception in 1998, the concern
has remained based on the following values:-
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Foster an environment of creativity and openness
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Achieve excellence in the products and services
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Deliver the commitments
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Determine to achieve business objectives and thus,
accelerate the growth process.
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 concern 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 concern’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. 80.31 |
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Euro |
1 |
Rs. 64.16 |
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 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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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37 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, they have no basis upon which to
recommend credit dealings |
No Rating |
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