MIRA
INFORM REPORT
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Report Date : |
09.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
HIMEDIA
LABORATORIES PRIVATE LIMITED |
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Registered Office : |
23, Vadhani
Industrial Estate, L. B. S. Marg, Ghatkopar, Mumbai - 400 086, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
08.09.1982 |
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Com. Reg. No.: |
11-28194 |
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CIN No.: [Company
Identification No.] |
U85195MH1982PTC028194 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMH08140G |
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PAN No.: [Permanent
Account No.] |
AAACH3784P |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturer of products for Microbiology, Parasitology, Immunology,
Serology and Virology. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 600432 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established and reputed company having satisfactory track records.
Directors are reported as experienced and respectable businessmen. Their trade
relations are fair. Business is active. Payments are usually correct and as
per commitments. The company can be considered normal for
business dealings at usual trade terms and conditions. We spoke to Ms.
Sumati in the front office, who confirmed that the subject does not have an
in-house R and D / Design Centre. |
LOCATIONS
|
Registered
Office/ Head Office/ Quality Control and Purchase : |
23, Vadhani
Industrial Estate, L. B. S. Marg, Ghatkopar, Mumbai- 400 086, Maharashtra,
India |
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Tel. No.: |
91-22-2500 0970 / 2500 3747 / 2500 1607 / 2500 0653 / 4095 1919
(100 lines), 4017 9797 / 25000885 |
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Fax No.: |
91-22-2500 5764 / 2500 2468 / 2500 2286 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Commercial Office including Marketing and Administration : |
A-406, Bhaveshwar
Plaza, LBS Marg, Mumbai - 400 086, Maharashtra, India |
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Tel. No.: |
91-22-2500 3747 /
0970 / 0278 / 1273 |
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Fax No.: |
91-22-2500 5764 /
2465 / 2286 / 40951920 / 21 |
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E-Mail : |
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Website: |
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Location : |
Owned |
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Factory : |
Plot No. W-239
(B), MIDC Industrial Area, Phase II, Dombivali (East), District Thane,
Maharashtra |
DIRECTORS
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Name : |
Mr. Gangadhar M.
Warke |
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Designation : |
Managing Director
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Address : |
A-15, Megh
Malhar, Gawand Path, Naupada, Thane - 400 062, Maharashtra, India |
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Date of
Birth/Age : |
16.09.1941 |
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Qualification
: |
M.Sc., Ph.D |
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Date of
Appointment : |
08.09.1992 |
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Name : |
Mr. Vishnu M.
Warke |
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Designation : |
Whole Time
Director |
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Address : |
A – 9, Trupti
Apartments, Mahatma Phule Road, Mulund, Mumbai – 400081, Maharashtra, India |
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Date of
Birth/Age : |
03.07.1945 |
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Qualification
: |
B.Sc., L.L.B. |
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Date of
Appointment : |
08.09.1982 |
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Name : |
Mr. Anil T. Warke |
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Designation : |
Director |
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Address : |
Mathura Anadghan
Cooperative Housing Society, Sant Namdeo Path, Dombivali – East, Thane – 421201,
Maharashtra, India |
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Date of
Birth/Age : |
30.07.1960 |
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Date of
Appointment : |
01.05.1998 |
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Name : |
Mr. Dinker G.
Chaudhari |
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Designation : |
Director |
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Address : |
4, Sai Nagar Apartments,
Next to Uttam Society, Chembur, Mumbai- 400 071, Maharashtra, India |
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Date of
Birth/Age : |
01.04.1939 |
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Date of
Appointment : |
03.01.2002 |
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Name : |
Mr. Laxman S.
Bhole |
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Designation : |
Director |
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Address : |
K – 22, Ganaji Raj
Cooperative Housing Society Limited, Mithanagar Road, Mulund [East], Mumbai-
400 081, Maharashtra, India |
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Date of
Birth/Age : |
01.06.1942 |
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Date of
Appointment : |
03.01.2002 |
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Name : |
Mr. Vishal G.
Warke |
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Designation : |
Director |
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Address : |
131, 13th
Floor, ‘Prim Rose’ Gladys, Alvarex Road Village, Majiwada, Thane – 400607,
Maharashtra, India |
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Date of
Birth/Age : |
29.04.1973 |
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Date of
Appointment : |
01.08.2004 |
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Name : |
Mr. Pravin
Tryambak Warke |
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Designation : |
Whole Time
Director |
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Address : |
Mathura Anadghan
Cooperative Housing Society, Sant Namdeo Path, Dombivali – East, Thane –
421201, Maharashtra, India |
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Date of
Birth/Age : |
15.07.1965 |
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Date of
Appointment : |
01.08.2005 |
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Other
Partnership : |
Agencia Ladiagnos
16, Vadhani
Industrial Estate, L. B. S. Marg, Mumbai – 400086, Maharashtra, India |
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Name : |
Ms. Priti Vishal
Warke |
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Designation : |
Director |
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Address : |
A-15, Megh Malhar,
Gawand Path, Naupada, Thane - 400 062, Maharashtra, India |
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Date of
Birth/Age : |
11.12.1976 |
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Date of
Appointment : |
01.08.2005 |
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Name : |
Ms. Rahul
Gangadhar Warke |
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Designation : |
Director |
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Address : |
134, Primrose, Pokharan
Road No. 2, Thane [West], Thane 400607, Maharashtra, India |
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Date of
Birth/Age : |
19.09.1974 |
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Date of
Appointment : |
01.04.2006 |
KEY EXECUTIVES
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Name : |
V. N. Deodhar and
Company |
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Designation : |
Company Secretary
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Address : |
Mumbai- 400 007,
Maharashtra, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Vishnu M.
Warke |
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6687 |
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Mr. Tryambak M.
Warke |
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75 |
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Mr. Gangadhar M.
Warke |
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6687 |
|
Promino Health
Products Private Limited |
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15 |
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Mrs. Jyoti Anil
Warke |
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150 |
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Mr. Anil T. Warke |
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440 |
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Mr. Gangadhar M.
Warke – Karta of G. M. Warke HUF |
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15 |
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Mr. Rahul G.
Warke |
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15 |
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Mr. Saroj G.
Warke |
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15 |
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Mr. Vishal G.
Warke |
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15 |
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Ms. Swati V.
Warke |
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15 |
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Mr. Rajas V.
Warke – thro Warke M. Vishnu |
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30 |
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Mr. Vishnu M.
Warke – Karta of V. M. Warke HUF |
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15 |
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Mr. Pravin T.
Warke |
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20 |
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Mr. Ramesh T.
Warke |
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10 |
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Mr. D. S.
Narkhede Jointly with Mrs. S. D. Narkhede and Mrs. Smitha Kolhe |
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3 |
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Mr. G. B. Mahajan
Jointly with Mrs. Asha D. Patil |
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3 |
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Mr. Anil T. Warke
with Mrs. Jyoti A. Warke |
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1620 |
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Mr. Ramesh T. Warke
jointly with Mrs. Sushma R. Warke |
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2190 |
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Mr. Pravin T.
Warke jointly with Mrs. Sangeeta P. Warke |
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2190 |
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Mr. Pravin T.
Warke – Karta of P. T. Warke [HUF] |
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10 |
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Mrs. Sulochana S.
Mahajan |
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10 |
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Mr. Ramesh T. Warke
– Karta of R. T. Warke [HUF] |
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10 |
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Mr. Anil T. Warke
– Karta of A. T. Warke [HUF] |
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10 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of products for Microbiology, Parasitology,
Immunology, Serology and Virology. |
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Products : |
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Exports : |
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Countries : |
Australia, South
East, Middle East, Europe and USA. |
GENERAL
INFORMATION
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No. of Employees : |
300 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
A. B. Jog and
Company Chartered
Accountants |
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Address : |
604-B, Manisha
Apartments, Church Road, Marol, Andheri (East), Mumbai- 400 059, Maharashtra,
India |
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Tel. No.: |
91-22-56625210 |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs.100/-each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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182250 |
Equity Shares |
Rs.100/-each |
Rs.18.225 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
18.225 |
2.025 |
2.025 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
131.883 |
122.258 |
103.094 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
150.108 |
124.283 |
105.119 |
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LOAN FUNDS |
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1] Secured Loans |
125.118 |
130.595 |
130.337 |
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2] Unsecured Loans |
117.067 |
97.165 |
76.715 |
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TOTAL BORROWING |
242.185 |
227.760 |
207.052 |
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DEFERRED TAX LIABILITIES |
11.802 |
15.011 |
10.588 |
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TOTAL |
404.095 |
367.054 |
322.759 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
186.521 |
182.243 |
136.837 |
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Capital work-in-progress |
4.729 |
5.232 |
35.848 |
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INVESTMENT |
0.003 |
0.002 |
0.002 |
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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 |
169.699
|
158.156
|
165.572
|
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Sundry Debtors |
120.378
|
109.602
|
63.074
|
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Cash & Bank Balances |
41.334
|
35.338
|
23.244
|
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Other Current Assets |
19.477
|
7.714
|
3.649
|
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Loans & Advances |
13.688
|
9.586
|
10.353
|
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Total
Current Assets |
364.576
|
320.396 |
265.892 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
136.506
|
127.978
|
113.602 |
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Provisions |
15.410
|
12.841
|
2.218
|
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Total
Current Liabilities |
151.916
|
140.819 |
115.82 |
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Net Current Assets |
212.660
|
179.577 |
150.072 |
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MISCELLANEOUS EXPENSES |
0.182 |
0.000 |
0.000 |
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TOTAL |
404.095 |
367.054 |
322.759 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
607.617 |
536.249 |
352.958 |
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Profit/(Loss) Before Tax |
56.629 |
42.710 |
26.793 |
|
Provision for Taxation |
0.000 |
0.000 |
9.177 |
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Profit/(Loss) After Tax |
56.629 |
42.710 |
17.616 |
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Export Value
|
N.A. |
199.714 |
133.886 |
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Import Value
|
N.A. |
63.069 |
53.180 |
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Total Expenditure |
550.988 |
493.539 |
326.164 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
9.32
|
7.96
|
4.19
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Net Profit Margin (PBT/Sales) |
(%) |
9.32
|
7.96
|
6.38
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Return on Total Assets (PBT/Total Assets} |
(%) |
10.27
|
8.50
|
6.11
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Return on Investment (ROI) (PBT/Networth) |
|
0.38
|
0.34
|
0.25
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Debt Equity Ratio (Total Liability/Networth) |
|
2.63
|
2.96
|
4.17
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Current Ratio (Current Asset/Current Liability) |
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2.40
|
2.27
|
2.10
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LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets
- Building
- Residential Flats
- Tenet’s
- Motor Car
- Scooter
- Fax Machine
- Computers
- Furniture and Fixtures
- Office Equipments
- Refrigerators
AS PER WEBSITE
History
The Company is OEM
suppliers to some world’s renounced brands and has state-of-the-art products at
an affordable price serving the cause of microbiology worldwide.
Subject brand is
available in over 70 countries around the world and in a way Hi Media feel
proud to be able to hold the price line in check when other leading brands
acknowledge this fact by offering their products at subject prices. Subject
brand is available in over 70 countries around the world and in a way subject
feel proud to be able to hold the price line in check when other leading brands
acknowledge this fact by offering their products at subject prices.
Subject brand is
available in over 70 countries around the world and in a way subject feel proud
to be able to hold the price line in check when other leading brands
acknowledge this fact by offering their products at subject prices.
PALKHED –
DINDORI – NEW PROJECT:
The operations at
the plant at Palkhed – Dindori are progressing as planned. Balancing equipment has been put in
place. The company has completed the
construction of the section of the building, housing the Research and
Development functions during the year.
Equipment for this purpose is in place.
This will ensure timely testing of the raw materials and finished
products and help the company to meet tight delivery schedules.
The construction of the factory has been completed.
All machinery and equipment are in place. Teething problems are being
successfully attended to and the directors are confident that the plant will
significantly contribute to the turnover and profitability of the company. The plant has been designed and built to
comply with latest G.M.P. norms laid down for related Pharmaceutical
Sector. It is expected to achieve full
capacity utilization in the ensuing year.
Introduction
Established in the year 1976 as Hindustan
Dehydrated Media, the company started its operations to provide ready to use
Culture Media to Scientists, Researchers and Small companies, who used to
prepare their own Media from purchased ingredients. Over the years, under the
banner of subject the Company is counted amongst the world's few companies
possessing the high-tech know-how for manufacturing Microbiological Culture
Media. Culture Media technology has been closely guarded by a handful companies
world-wide. Subject developed its own technology for manufacture of the Culture
Media and succeeded in introducing over 2000 of them over the years. subject
products are used in almost all parts of the world and compete favourably with
other products of international repute.
The efforts of the company have been duly
rewarded and recognized. subject has earned a series of National awards over
the past 10 years, and continues to do so.
Activities
- Manufacture
and supply of Culture Media, Sensitivity Discs and allied products.
- Supply of Plastic Wares, such as
Disposable Petri Dishes, Sterile Swabs etc., which are required by the
users of company products.
- Provide to customers complete technical
information, including application methodology on company products.
Fields of
subject product applications and company's customers :
- Academic Fields:
Research Institutes and Education Institutes including Veterinary and
Medical Colleges.
- Public Health
Care: Water supply, Waste water disposal, Pollution control, Hospitals and
Clinical Laboratories.
- Industries :
- Pharmaceutical
and Cosmetics
- Vaccine,
Toxin and Antibiotics
- Food and
Dairy Products
- Agriculture
such as Biofertilizers and
- Hotels,
Catering and Flight Kitchens Biopesticides
Products
- Dehydrated Culture Media Bases
& Supplements
- Culture Media Bases
- Cell Culture Media
- Bacteriological Differentiation
Aids
- Ant microbial Susceptibility
Systems
- Ready Prepared Culture Media
- Laboratory Chemicals &
Biochemical’s
- Laboratory Aids
News
16 Feb 2007
HiMedia wins "Rajiv Gandhi National Quality Awards" for year
2006.
HiMedia is proud at winning
the coveted "Rajiv Gandhi National Quality Awards" for the year 2006
in recognition of its World Class Quality Management system and Culture.
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.39.55 |
|
UK Pound |
1 |
Rs.76.85 |
|
Euro |
1 |
Rs.57.27 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 |
|