MIRA
INFORM REPORT
|
Report Date : |
05.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MEDICLONE BIOTECH PRIVATE LIMITED |
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Registered Office : |
S1, 1st Main Road, DCIT Colony, Mylapore, Chennai-600004,
Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
24.02.1995 |
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Com. Reg. No.: |
18-302999 |
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CIN No.: [Company
Identification No.] |
U01409TN1995PTC030299 |
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IEC No.: |
0495007391 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEM02121A |
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PAN No.: [Permanent
Account No.] |
AAACM5301R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Supplier of Wide range of Diagnostic and Therapeutic
Products. |
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 330000 |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track. Company’s
profitability is under severe pressure. General financial position is weak.
However, no complaints have been heard. The company can be considered for small to mediocre business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Tharmmarajhan M.V. |
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Designation : |
Commercial Manager |
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Contact No.: |
91-9840189896 |
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Date : |
03.12.2008 |
LOCATIONS
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Registered Office : |
S1, 1st Main Road, DCIT Colony, Mylapore, Chennai-600004,
Tamilnadu, India |
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Corporate Office : |
Block – B, Millennium House, M.K. Srinivasan Nagar Main Road,
Perungudi, Chennai-600096, Tamilnadu, India |
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Tel. No.: |
91-44-24963845 |
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Mobile No.: |
91-9840189896 |
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Fax No.: |
91-44-24963846 |
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E-Mail : |
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Area : |
owned |
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Factory : |
No. 29, Biopavillon, Velichai Village, Kolathur Post, Chennai-600048,
Tamilnadu, India |
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Mobile No.: |
91-9940665423 |
DIRECTORS
|
Name : |
Mr. Jose Gill |
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Designation : |
Director |
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Address : |
25, Door No. 7, Parsn Sun And Sand, 4th Seawart Road,
Valmiki Nagar, Thiruvanmiyur, Chennai-600041, Tamilnadu, India |
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Date of Birth/Age : |
25.02.1970 |
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Date of Appointment : |
31.10.2000 |
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Name : |
Mr. Vinayak Vaikunth Bhat |
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Designation : |
Director |
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Address : |
81, Jkournalist Colony, Thiruvalluvar Nagar, Thiruvanmiyur,
Chennai-600041, Tamilnadu, India |
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Date of Birth/Age : |
23.09.1964 |
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Date of Appointment : |
31.10.2000 |
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Name : |
Mr. A Mathiyalagan |
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Designation : |
Managing Director |
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Address : |
H-71/ G3, Mullal Apartments, Thiruvalluvar Nagar, Thiruvanmiyur,
Chennai-600041, Tamilnadu, India |
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Date of Birth/Age : |
05.09.1859 |
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Date of Appointment : |
24.02.1995 |
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Name : |
Mrs. Meera Govindarajan |
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Designation : |
Director |
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Address : |
119, St. Eltra’s Avenue, P. S
Swasamy Saral, Mylapore, Chennai-600095, Tamilnadu, India |
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Date of Birth/Age : |
21.08.1932 |
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Date of Appointment : |
24.02.1995 |
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Date of Ceasing: |
31.08.2000 |
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Name : |
Mr. S. K Nathan |
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Designation : |
Director |
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Address : |
13, West Road, C.I.T. Nagar, Chennai-600605, Tamilnadu, India |
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Date of Appointment : |
15.07.1996 |
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Date of Ceasing: |
31.08.2000 |
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Name : |
Mr. Y Dandapani |
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Designation : |
Director |
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Address : |
3, Parsn Villa, 56, Luz Church Road, Mylapore, Chennai-600004,
Tamilnadu, India |
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Date of Appointment : |
15.07.1996 |
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Date of Ceasing: |
31.08.2000 |
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Name : |
Mrs. Anjali Karande |
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Designation : |
Director |
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Address : |
51, I Main Raod, C.I.T Colony, Mylapore, Chennai-600004, Tamilnadu,
India |
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Date of Appointment : |
15.07.1996 |
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Date of Ceasing: |
31.08.2000 |
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Name : |
Mrs. Pushpalatha |
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Designation : |
Director |
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Address : |
H-71/ G-3, Mullai Apartments, Thiruvalluar Nagar, Thiruvanmiyu,
Chennai-600041, Tamilnadu, India |
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Date of Birth/Age : |
21.07.1968 |
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Date of Appointment : |
31.08.2000 |
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Name : |
Mr. K Palaniappan |
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Designation : |
Director |
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Address : |
6, Rajachar Street, T Nagar, Chennai-600041, Tamilnadu, India |
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Date of Birth/Age : |
26.03.1942 |
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Date of Appointment : |
31.10.2000 |
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Name : |
Mr. Pramod Ranjan |
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Designation : |
Director |
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Address : |
Flat : 1B, Rangaprasad Apratments, 9, Binny Road, Poes Garden,
Chennai-600086, Tamilnadu, India |
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Date of Birth/Age : |
02.04.1967 |
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Date of Appointment : |
16.05.2003 |
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Name : |
Mr. R Srinivasan |
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Designation : |
Director |
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Address : |
A-A 67, 2nd Street, 3rd Main Road, Anna Nagar,
Chennai-600040, Tamilnadu, India |
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Date of Birth/Age : |
01.06.1959 |
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Date of Appointment : |
16.05.2003 |
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Name : |
Mr. Muthukaruppan |
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Designation : |
Director |
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Address : |
2nd Floor, 3rd Lane, Naidu Street, Kotturpuram,
Chennai-600085, Tamilnadu, India |
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Date of Birth/Age : |
25.03.1965 |
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Date of Appointment : |
16.05.2003 |
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Name : |
Mrs. Monisha Rajan |
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Designation : |
Director |
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Address : |
Flat 1 B Ranga Prasad Apartment, 9, Binny Road, Poe Garden,
Chennai-600086, Tamilnadu, India |
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Date of Birth/Age : |
22.11.1972 |
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Date of Appointment : |
01.04.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Shares |
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Pushpalatha |
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50000 |
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Vinayak Vaikunth Bhat |
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40000 |
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Jose Gill |
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20000 |
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K Palaniappan |
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20000 |
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Pramod Ranjan |
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75000 |
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Monisha Rajan |
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100000 |
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Total |
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305000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2006
|
Category |
|
Percentage |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of Wide range of Diagnostic and Therapeutic
Products. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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Customers : |
Retailers, OEM’s and Others |
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No. of Employees : |
135 (Office 5, Factory 130) |
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Bankers : |
Bank of Maharashtra, 349, Kapaleeshwarar Nagar, Neelankarai,
Chennai-600041, Tamilnadu, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Brahmayya and Company Chartered Accountant |
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Address : |
No. 48, Masilamani Road, Balaji Nagar, Royapettah, Chennai-600014,
Tamilnadu, India |
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Tel. No.: |
91-44-28131128 |
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Mobile No.: |
91-44-28131158 |
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Fax No.: |
CAPITAL STRUCTURE
As on 30.09.2006
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
425000 |
Equity Shares |
Rs. 10/-
each |
Rs. 4.250
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
4.250 |
4.250 |
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2] Share Application Money |
|
64.127 |
35.580 |
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3] Reserves & Surplus |
|
2.090 |
2.090 |
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4] (Accumulated Losses) |
|
[4.122] |
[0.364] |
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NETWORTH |
|
66.345 |
41.556 |
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LOAN FUNDS |
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1] Secured Loans |
|
0.607 |
0.693 |
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2] Unsecured Loans |
|
3.609 |
5.384 |
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TOTAL BORROWING |
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4.216 |
6.077 |
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DEFERRED TAX LIABILITIES |
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0.855 |
0.399 |
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TOTAL |
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71.416 |
48.032 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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11.824 |
10.100 |
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Capital work-in-progress |
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35.856 |
26.326 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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0.000 |
0.000 |
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Other Current Assets |
|
10.107 |
7.951 |
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Loans & Advances |
|
19.516 |
8.860 |
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Total
Current Assets |
|
29.623 |
16.811 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.854 |
5.277 |
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Provisions |
|
0.320 |
0.293 |
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Total
Current Liabilities |
|
6.174 |
5.570 |
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Net Current Assets |
|
23.449 |
11.241 |
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MISCELLANEOUS EXPENSES |
|
0.287 |
0.365 |
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TOTAL |
|
71.416 |
48.032 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
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Sales Turnover |
|
|
13.591 |
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Other Income |
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|
0.000 |
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Total Income |
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|
13.591 |
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Profit/(Loss) Before Tax |
|
|
[3.758] |
|
Provision for Taxation |
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|
0.000 |
|
Profit/(Loss) After Tax |
|
|
[3.758] |
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Expenditures : |
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Total Expenditure |
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|
17.349 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
[27.65] |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
|
[27.65] |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
[11.11] |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
|
[0.06] |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
0.16 |
0.28 |
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Current Ratio (Current Asset/Current Liability) |
|
|
4.79 |
3.02 |
LOCAL AGENCY
FURTHER INFORMATION
|
Additional Requirement
of Indiamart for Trust-Seal |
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VAT / TIN : 33440924405 |
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IEC Code : 0495007391 |
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PAN / TAN : AAACM5301R |
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Bank Name : Bank of Maharashtra |
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Bank Address : 349, Kapaleeshwarar Nagar, Neelankarai, Chennai-600041,
Tamilnadu, India |
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Bank A/c. No.: 60003057966 |
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Account Since : 13 Years |
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In case of any affiliations / memberships / certifications : |
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Name : Association of Diagnostic Manufacturer of India / ISO 9001
:2000 |
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Type : Association Member / QMS |
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Expiry Date : August 11 |
AS PER WEBSITE:
Profile:
Subject is a renowned name in diagnostic
industry which is engaged in manufacturing and supplying a wide range of
diagnostic and therapeutic products. MEDICLONE is now an ISO 9001:2000 certified company. The
facility in Chennai, spread across an area of 10 acres, is upgraded to WHO GMP norms with total automation.
They have also initiated process for getting CE Certification.
The in house R & D is working on theropeutic anti Rabies & Anti Snake
Venom Serum. They also provide various kinds of educational and training
services in the feild of Biotechnology.
Established in Chennai, in the
year 1995, the company started as
a maiden biotech venture by first generation entrepreneurs. With an experience
of more than one decade they are constantly moving ahead in this industry. The
consistent approach makes them strive to achieve the aim and vision of
pioneering the supply of quality range.
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.49.79 |
|
UK Pound |
1 |
Rs.73.38 |
|
Euro |
1 |
Rs.63.08 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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 |
|