MIRA
INFORM REPORT
|
Report Date : |
03.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
BIO- GEN EXTRACTS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
#20/21, 9th Mile, Tumkur Road, WIDJA post, Chikkabidaarkallu, Bangalore -
560073,
Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Date of Incorporation : |
11.07.2000 |
|
|
|
|
Com. Reg. No.: |
08-27440 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74999KA2000PTC027440 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRB04064E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCB4205E |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Herbal Extracts and Pharmaceuticals
Formulations |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USd 50000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well - established and reputed company having
satisfactory track. Trade relations are fair. Business is active. No
complaints have been heard from market sources. The company can be considered good for normal business dealings. |
LOCATIONS
|
Registered Office : |
#20/21, 9th Mile, Tumkur Road, WIDJA post, Chikkabidaarkallu, Bangalore -
560073,
Karnataka |
|
Tel. No.: |
91-80-41177962 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administrative Office : |
351/6, 14th Cross, Sunkadakatte, Magadi Main Road,
Bangalore – 560 091, India |
|
Tel. No.: |
91-80-23483591 / 3592 |
|
Fax No.: |
91-80-23483087 |
|
E-Mail : |
|
|
|
|
|
Factory : |
#167/168, 10th Main, III Phase, Peenya Industrial Area,
Bangalore 560 058 |
|
Tel. No.: |
91-80-41177962 |
|
Fax No.: |
91-80-41177961 |
DIRECTORS
|
Name : |
Mrs. Rukmini Reddy |
|
Designation : |
Director |
|
Address : |
No. 1628, 3rd Floor, 4th Cross, 22nd
Main 4th Block Jayanagar, Bangalore – 560 011 |
|
Date of Birth/Age : |
20.07.1973 |
|
Date of Appointment : |
08.04.2002 |
|
|
|
|
Name : |
Mr. Saif M Mekhri |
|
Designation : |
Director |
|
Address : |
No. 82, 2nd Main Banashnakari 3rd Stage, 2nd
Phase 6th Block , Bangalore – 560 085, Karnataka |
|
Date of Birth/Age : |
12.05.1978 |
|
Date of Appointment : |
11.07.2000 |
|
|
|
|
Name : |
Mr. P Jayashnakar |
|
Designation : |
Director |
|
Address : |
No. 203 5th Main Chikkanna Gardens Chamrajpet Bangalore –
560 015, Karnataka |
|
Date of Birth/Age : |
27.11.1976 |
|
Date of Appointment : |
11.07.2000 |
|
|
|
|
Name : |
Mr. Piyush Mohta |
|
Designation : |
Director |
|
Address : |
No. 38 Anugarha 1st Cross Central Excise Layout Bangalore – 560 040, Karnataka |
|
Date of Birth/Age : |
17.01.1978 |
|
Date of Appointment : |
11.07.2000 |
|
|
|
|
Name : |
Mr. Annam Rukmini Kumar Reddy |
|
Designation : |
Director |
|
Address : |
No. 1536, 39th Cross 4th T Block, Jayanagar,
Bangalore – 560 041, Karnataka, India |
|
Date of Birth/Age : |
10.02.1971 |
|
Date of Appointment : |
08.04.2002 |
|
|
|
|
Name : |
Mr. Jai Shankar Raghava Chandra |
|
Designation : |
Director |
|
Address : |
No. 203 Chikkanna Gardens 5th Main Road, Chamarajpet,
Bangalore – 560 018, Karnataka, India |
|
Date of Birth/Age : |
27.11.1976 |
|
Date of Appointment : |
11.07.2000 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
|
No. of Shares |
|
Mrs. Rukimini Reddy |
|
5000 |
|
Mr. Saif M Mekhri |
|
5000 |
|
Mr. P Jayashankar |
|
5000 |
|
Mr. Piyush Mohta |
|
5000 |
List of Allotees
|
Names of Allotees (As on 29.03.2008) |
|
No. of Shares |
|
Mr. Saif M Mekhri |
|
500 |
|
Mr. R Jai Shankar |
|
500 |
|
Mr. A Rukmini Kumar |
|
500 |
|
Mr. Piyush Mohta |
|
500 |
|
|
Total
|
2000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Herbal Extracts and Pharmaceuticals Formulations
|
|
|
|
|
Products : |
Therapeutic Enzymes · Bromelain · Hemocoagulase (Batroxobin) [Coagulating enzymatic fraction of venom of · Bothrops Jararaca or Bothrops Atrox] · Haemocoagulase Enzyme Stock Solution (25 NIH U/ml) · Haemocoagulase Enzyme Stock Solution (1 NIH U/ml) · Haemocoagulase Lyophilized Powder (Bulk) (1 KU/150mg Active Pharmaceutical Ingredients ·
Ritodrine Hydrochloride BP/USP (EDMF available
in CTD Format) ·
Pyrimethamine IP/BP/USP Nutraceuticals / Natural Extracts ·
Glucosamine
HCl ·
Glucosamine
Sulphate Sodium ·
Glucosamine
Sulphate Potassium ·
Methyl
Sulphonyl Methane ·
Chondroitin
Sulphate ·
Soy
Isoflavones 40% ·
Lutein ·
Lycopene ·
L-Glutathione(Reduced) ·
Boswellia
Serrata 65% Pharmaceutical Intermediates / Chemicals ·
Phloroglucinol Dihydrate ·
Phloroglucinol Anhydrous ·
Trimethyl Phloroglucinol |
GENERAL
INFORMATION
|
Bankers : |
· ICICI Bank · Canara Bank, III Block, Rajaji Nagar, Bangalore – 560 010, Karnataka |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Banking
Relations : |
------ |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Auditors : |
|
||||||||||||||||||||
|
Name : |
P K Rungta and Company Chartered Accountants |
||||||||||||||||||||
|
Address : |
D – 1, Jyothi Complex, 134/1, Infantry Road, Bangalore – 560 001,
Karnataka |
||||||||||||||||||||
|
Tel No.: |
91-80-22863074 / 22864890 |
||||||||||||||||||||
|
Fax No.: |
91-80-22866929 |
||||||||||||||||||||
|
E-Mail: |
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2008:-
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000 |
Equity Shares |
Rs. 100/- Each |
Rs. 2.000 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000 |
Equity Shares |
Rs. 100/- Each |
Rs. 2.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.000 |
1.200 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7.826 |
3.368 |
1.527 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9.826 |
4.568 |
2.527 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6.777 |
0.988 |
0.996 |
|
|
2] Unsecured Loans |
6.845 |
2.238 |
0.055 |
|
|
TOTAL BORROWING |
13.622 |
3.226 |
1.051 |
|
|
DEFERRED TAX LIABILITIES |
0.075 |
0.046 |
0.052 |
|
|
|
|
|
|
|
|
TOTAL |
23.523 |
7.840 |
3.630 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.953 |
0.997 |
1.060 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.003 |
0.003 |
0.003 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.583
|
2.062 |
1.630 |
|
|
Sundry Debtors |
32.491
|
14.005 |
2.672 |
|
|
Cash & Bank Balances |
2.068
|
1.123 |
0.357 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.876
|
0.357 |
0.382 |
|
Total
Current Assets |
41.018
|
17.547 |
5.041 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
20.175
|
10.336 |
2.445 |
|
|
Provisions |
0.276
|
0.371 |
0.029 |
|
Total
Current Liabilities |
20.451
|
10.707 |
2.474 |
|
|
Net Current Assets |
20.567
|
6.840 |
2.567 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
23.523 |
7.840 |
3.630 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2008 |
|
|
Sales Turnover |
|
|
110.730 |
|
|
Other Income |
|
|
0.000 |
|
|
Total Income |
|
|
110.730 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
6.855 |
|
|
Provision for Taxation |
|
|
0.000 |
|
|
Profit/(Loss) After Tax |
|
|
6.855 |
|
|
|
|
|
|
|
|
Export Value |
|
|
USD 205931 EUR 6300 |
|
|
|
|
|
|
|
|
Import Value |
|
|
35.790 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Depreciation & Amortization |
|
|
0.304 |
|
|
Other Expenditure |
|
|
103.571 |
|
Total Expenditure |
|
|
103.875 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
6.19
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.19
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.59
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.69
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.47
|
3.05 |
1.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.01
|
1.64 |
2.04 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed assets:-
· Furniture and Fixtures
· Machinery and Equipments
· Computers
· Motor Vehicles
· Office Equipment
FORM 8:-
|
Name of the company |
BIO- GEN EXTRACTS PRIVATE LIMITED |
|
Presented By |
Canara Bank |
|
1) Date and description of instrument creating the change |
26.06.2003 Hypothecation
agreement for packing Credit Advances |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.400
millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All stocks viz.,
Methanol, Ethyl Acetene, etc stored at the godowns and yards and premises in
Peenya or other places valued at Rs. 0.535 million |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 8%
including penal interest for 90 days |
|
5) Name and Address and description of the person entitled to the charge. |
Canara Bank, III
Block, Rajaji Nagar, Bangalore – 560 010, Karnataka |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.52 |
|
UK Pound |
1 |
Rs.75.08 |
|
Euro |
1 |
Rs.63.72 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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 |
|