MIRA INFORM REPORT

 

 

Report Date :

26.12.2008

 

IDENTIFICATION DETAILS

 

Name :

WILSON LABORATORIES

 

 

Registered Office :

251, New Ashirwad Industrial Estate, Ram Mandir Road, Goregaon (West), Mumbai – 400 104, Maharashtra.

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008 (Estimated)

 

 

Year  of Establishment :

2004

 

 

Legal Form :

Partnership Concern With An Unlimited Liability Of The Partners.

 

 

Line of Business :

Trader and Importer of Bulk Drugs and Chemicals.

 

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established and reputed concern having satisfactory track. Trade relations are fair. Business is active. No complaints have been heard.

 

The concern can be considered good for normal business dealings.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Yatin L. Shah

Designation :

Partner

Contact No.:

91-9820187523

Date :

24.12.2008

 

 

LOCATIONS

 

Registered Office :

251, New Ashirwad Industrial Estate, Ram Mandir Road, Goregaon (West), Mumbai – 400 104, Maharashtra, India.

Tel. No.:

91-22-22061308

Mobile No.:

91-9820187523   (Mr. Yatin)

Fax No.:

91-22-22067071

E-Mail :

csshahcwc@vsnl.net

chempure@bom2.vsnl.net.in

Area :

300 sq.ft.

Location :

Owned

 

 

Branches :

Mangaldas Building No. 1, 3rd Floor, Room No. 62, Princess Street, Mumbai – 400 002

Tel. No.:

91-22-22068883

 

 

PARTNERS

 

Name :

Mr. Samir P. Shah

Designation :

Partner

Date of Birth/Age :

45 years

Qualification :

Chemical Engineer

 

 

Name :

Mr. Yatin L. Shah

Designation :

Partner

Date of Birth/Age :

51 years

Qualification :

1st year Science

 

 

Name :

Mr. Chandrakant Shah

Designation :

Partner

Date of Birth/Age :

55 years

Qualification :

Civil Engineering

 

 

Name :

Mr. Pravin Shah

Designation :

Partner

Date of Birth/Age :

61 years

Qualification :

BSC

 

BUSINESS DETAILS

 

Line of Business :

Trader and Importer of Bulk Drugs and Chemicals.

 

 

Exports :

 

Countries :

ุ       Europe

 

 

Terms :

 

Selling :

Credit

 

 

Purchasing :

L/C

 

 

GENERAL INFORMATION

 

Customers :

v      Pharmaceutical Companies

 

 

No. of Employees :

25

 

 

Bankers :

ุ       Bank Of India, Girgaon

ุ       Axis Bank, Malad

 

 

 

Banking Relations :

-

 

 

Auditors :

 

Name :

Vora Dhokia and Associates

Chartered Accountant

 

 

Associates/Subsidiaries :

Name :

Chemicals Unlimited

Activity :

Import of Lab Chemicals

 

 

Name :

Chempure

Address :

B-28, New Ashirwadinds

Activity :

Import of Bulk and Semi Bulk Items

 

 

CAPITAL STRUCTURE

 

Not Available

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2008

Sales Turnover

 

 

10.000

 

Particulars

 

 

 

31.03.2008

Sales Turnover (Group )

 

 

300.000

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

TRADE REFERENCES

 

ุ       Maruzen Chemicals Company Limited – Japan

ุ       Bitop GmbH – Germany

ุ       Commercial Alcohols Inc – Canada

ุ       Chemi Plus Corporation – Japan

ุ       Himedia laboratories Private Limited, Gathkopar, Tel. No.:- 91-22-25001607

ุ       Lupin Limited, Pune, Tel. No.:- 91-22-66749180

ุ       Thermo Fishers Limited

 

Some of the major customers of the concern include:

Hindustan Ciba Geigy Limited

Aarey Road, P.B. No. 90002, Goregaon (East), Mumbai – 400 063, Maharashtra

 

Hindustan Lever Limited

Purchase Department – Research Centre

Chakala, Andheri (East), Mumbai – 400 099, Maharashtra

 

Hindustan Lever Limited

Research Centre, 64, Main Road, White Field Post,  Bangalore – 560 066, Karnataka

 

Astra Zeneca India Private Limited

277-T, Chowdaiah Road, Malleshwaram,  Bangalore – 560 003, Karnataka

 

Syngene International Private Limited

20th K.M. Hosur Road, Hebbagodi,Bangalore – 561 229, Karnataka

 

Department of Atomic Energy

 Plot No. 1207, Veer Savarkar Marg, Cadell Road, EC TV Compound, Opposite Siddhi Vinayak Mandir, Prabhadevi, Mumbai – 400 028, Maharashtra

 

Department of Atomic Energy

 Directorate of Purchase Unit

 Madras Regional Purchase Unit, VI Floor, Shastri Bhavan, 26, Haddows Road, Chennai – 600 006, Tamilnadu

 

Unichem Laboratories Limited

Prabhat Estate, S. V. Road, Jogeshwari (West), Mumbai – 400 102, Maharashtra

 

Hi-Media Laboratories Limited

23, Vadhani Industrial Estate, Ghatkopar (West), Mumbai – 400 086, Maharashtra

 

Sun Pharma Advance Research Centre

Aceme Plaza, Opposite Sangam Cinema, Andheri – Kurla Road, Andheri (East), Mumbai – 400 059, Maharashtra

 

 

 

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.48.99

UK Pound

1

Rs.72.49

Euro

1

Rs.68.44

 

 

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

NO

--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

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions