MIRA
INFORM REPORT
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Report Date : |
15.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
NANDLAL BANKATLAL PRIVATE LIMITED |
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Registered Office : |
15B, Pruthvi, Industrial Complex, 15/2, Ringnwala, Nani Daman (U.T)
Daman and Diu-396210 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
29.06.1993 |
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Com. Reg. No.: |
56-1384 |
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CIN No.: [Company
Identification No.] |
U24232DD1993PTC001384 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader for Pharmaceutical Products |
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 84000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a family owned company engaged in the business
as traders in pharmaceutical bulk drugs/raw materials. It is also an exporter
and importer of these items. The Company’s performance has been satisfactory.
Directors are resourceful businessmen. Trade relations are reported as fair.
Payments are usually correct and as per commitments.
The Company can be considered normal for business dealings
at usual terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Ms. Leena Madam |
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Designation : |
Accounts Head |
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Date : |
14.11.2008 |
LOCATIONS
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Registered Office : |
15B, Pruthvi, Industrial Complex, 15/2, Ringnwala, Nani Daman (U.T)
Daman and Diu-396210, India |
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Tel. No.: |
91-22-56372845/22042744 |
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Mobile No.: |
91-9820222312 |
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Fax No.: |
91-22-56372846 |
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E-Mail : |
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Website : |
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Area : |
313 sq. ft (Owned) |
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Corporate Office : |
103, Prospect Chambers, 317/321 DR D N Road, Fort, Mumbai-400001,
Maharashtra, India |
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Tel. No.: |
91-22-66372845 |
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Fax No.: |
91-22-66372846 |
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Mobile |
91-9820222312 |
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E-Mail : |
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Area : |
Approximately 350 sq.ft (Rented) |
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Warehouse : |
Manish Compound, Building No. 3/7, First Floor, Thane
Road, Anjar Phata, Bhiwandi, District Thane, Maharashtra, India |
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Tel. No.: |
91-22-91372393 |
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Overseas Office: |
Delta Corporation Pte Limited 111, North Bridge Road, 27-01/02 Peninsula Plaza,
Singapore – 179098 |
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Tel. No.: |
65599150 |
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Fax No.: |
63893988 |
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E-Mail : |
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DIRECTORS
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Name : |
Mr. Akhil B. Tody |
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Designation : |
Managing Director |
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Address : |
403, Rajmala Apartment, 87B, Jagmohandas Road Nepean Sea Road,
Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
10.07.1959 |
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Qualification : |
L.L.B. |
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Date of Appointment : |
29.06.1993 |
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Name : |
Mrs. Deepika A. Tody |
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Designation : |
Whole-time-Director |
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Address : |
403, Rajmala Apartment, 87B, Jagmohandas Road Nepean Sea
Road, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
10.11.1965 |
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Qualification : |
B.com. |
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Date of Appointment : |
18.07.2002 |
KEY EXECUTIVES
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Name : |
Ms. Leena Madam |
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Designation : |
Accounts Head |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 29.09.2007
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Names of Shareholders |
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No. of Shares |
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Akhil Tody |
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59950 |
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Deepika Tody |
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138750 |
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Sneha Tody |
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650 |
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Srioshti Tody |
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650 |
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D R Patel Investment Private Limited |
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15000 |
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Sharma Capital and Finance Private Limited |
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15000 |
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Tora Marketing Private Limited |
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15000 |
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Total |
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245000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
|
Category |
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Percentage |
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Bodies corporate (not mentioned above) |
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18.37 |
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Directors or relatives of directors |
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81.63 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader for Pharmaceutical Products |
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Products : |
List of Other Products
v Veterinary Medicine v Bulk Drugs v Antibiotics v Vitamins v Antimalarials v Antibacterials v Anti TB Drugs v Macrolides v Steroids v Acetonitrile v Alprazolam v Chloromphenicol Palmitate v Cyproheptadine v Domperidon v Fluconazole v Glipizide v Ketakonazole v Ketamin HCL v Lansoprazole Pallets v Loperamide |
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Exports : |
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Countries : |
Greece and Nepal |
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Imports : |
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Countries : |
·
China ·
Hong Kong ·
Thailand ·
Singapore ·
Aginomoto ·
Korea ·
Brazil |
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Terms : |
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Selling : |
L/C, Credit ( 90 Days) |
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Purchasing : |
L/C, Credit ( 90 Days) |
GENERAL
INFORMATION
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Suppliers : |
Ř
Dr. Reddy’s Lab Ř Cognis Ř Roche Ř Boeringer Ř Takeda Ř UV Labs Ř Lonza USA Ř Nicholas Ř BASF Ř Longmarch Ř
Duphar |
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Customers : |
Ř
Retailers Ř
End Users |
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No. of Employees : |
10 |
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Bankers : |
v
Corporation Bank , Abdul Rehman Street Branch, Mumbai - 400 003, Maharashtra,
India v ICICI Bank Limited, 215, Free Press House, Free Press Journal Marg, Nariman Point, Mumbai – 400021 |
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Facilities : |
CC Rs. 10.000 Millions, Rs. 0.500 Million (From ICICI Bank) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Udani Mehta and Company Chartered Accountant |
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Address : |
Omkaram, 37/1966, Gandhi Nagar, Sevice Road, Bandra (East),
Mumbai-400051, Maharashtra, India |
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Associates/Subsidiaries : |
·
Exone Pharma 6633/5 Road No. 6, GIDC, Sachin, Surat, Gujarat, India E-mail : exone@todyindia.com Line of Business :- Trader of Pharmaceutical Bulk Drugs.
·
Transwin International Limited |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.000 Millions |
|
100000 |
Preference Shares |
Rs. 10/- each |
Rs. 1.000 Million |
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Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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245000 |
Equity Shares |
Rs.10/- each |
Rs. 2.450
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.450 |
2.450 |
2.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
14.406 |
11.499 |
6.367 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
16.856 |
13.949 |
8.367 |
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LOAN FUNDS |
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1] Secured Loans |
5.916 |
4.356 |
6.119 |
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2] Unsecured Loans |
5.881 |
0.361 |
3.064 |
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TOTAL BORROWING |
11.797 |
4.717 |
9.183 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
28.653 |
18.666 |
17.550 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.992 |
1.078 |
1.025 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
1.360 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
28.528
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24.783 |
14.364 |
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Sundry Debtors |
67.611
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33.046 |
19.108 |
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Cash & Bank Balances |
4.247
|
3.522 |
4.044 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
1.475
|
2.090 |
0.933 |
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Total
Current Assets |
101.861
|
63.441 |
38.449 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
71.725
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44.928 |
22.684 |
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Provisions |
2.475
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0.925 |
0.600 |
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Total
Current Liabilities |
74.200
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45.853 |
23.284 |
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Net Current Assets |
27.661
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17.588 |
15.165 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
28.653 |
18.666 |
17.550 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2005 |
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Sales Turnover |
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118.026 |
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Other Income |
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0.000 |
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Total Income |
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118.026 |
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Profit/(Loss) Before Tax |
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0.738 |
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Provision for Taxation |
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0.250 |
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Profit/(Loss) After Tax |
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0.488 |
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Earnings in Foreign Currency : |
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Export Earnings |
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1.054 |
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Imports : |
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66.341 |
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Import Value |
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Total Expenditure |
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115.949 |
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KEY RATIOS
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PARTICULARS |
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31.03.2005 |
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PAT / Total Income |
(%) |
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0.41 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.63 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.87 |
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Return on Investment (ROI) (PBT/Networth) |
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0.09 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.88 |
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Current Ratio (Current Asset/Current Liability) |
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1.65 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
·
Bajaj Health Care Limited
·
Kalgov Lapse Limited
Fixed Assets:
v Commercial Premises
v Holiday Home time Share
v Office Equipments
v Furniture and Fixture
v Computer System
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U24232DD1993PTC001384 |
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Name of the
company |
NANDLAL BANKATLAL PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
15B, Pruthvi, Industrial Complex, 15/2, Ringnwala, Nani Daman (U.T)
Daman and Diu-396210, India |
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Type of charge |
Others |
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Particular of
charge holder |
3i Infotech
Trusteeship Services Limited 3rd to
6th Floor, International Infotech Park, Tower No. 5, Vashi Railway
Station Complex, Vashi, Navi Mumabi-400703, Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation |
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Date of
instrument Creating the charge |
08.10.2007 |
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Amount secured by
the charge |
Rs. 19.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest The rate of
interest shall be 3.00% per annum below the sum of I-BAR and the Cash Credit
Risk Premium Prevailing on each day, Plus Applicable interest tax. I-BAR as on date
is at 15.75% p.a, Cash Credit premia is 0.50% p.a. and the applicable
interest rate is 13.25% p.a Terms of
Repayment Maximum tenor of
each tranche: 180 or Upto validity period of facili, whichever is earlier Minimum tenor of
each tranche 15 days Margin Inventory :
Uniform margin of 25% against all components of inventory Cover period 90
days Margin 40% Extent and
Operation of the charge Exclusive charge
on the whole of the Hypothecator’s stocks of raw materials, goods-in-process,
semi-finished and finished goods, consumable stores and spares and such other
movables, including book debts, bills, whether documentary or clean,
outstanding monies, receivables both present and future |
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Short particulars
of the property charged |
The whole of the
Hypothecator’s stocks of raw materials, goods-in process, semi-finished and
finished goods, consumable stores and spares ad such as movables, including
book debts, bills, whether documentary or clean, outstanding monies,
receivables both present and future. |
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 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.49.46 |
|
UK Pound |
1 |
Rs.73.17 |
|
Euro |
1 |
Rs.62.96 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|