MIRA
INFORM REPORT
|
Report Date : |
11.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
OZONE PHARMACEUTICALS LIMITED |
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Registered Office : |
Ozone House, 1 LSC, Block A-3, Janak Puri, New Delhi – 110058 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
13.03.1991 |
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Com. Reg. No.: |
55-43461 |
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CIN No.: [Company
Identification No.] |
U99999DL1991PLC043461 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELO01846F |
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PAN No.: [Permanent
Account No.] |
AAAC00056H |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
Manufacturer and Exporter of Healthcare Related Products, Pharmaceutical and Ayurvedics
Products. |
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 840000 |
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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. Directors are reported as experienced and respectable businessmen. Trade
relations are reported as 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. |
LOCATIONS
|
Registered Office / Corporate Office : |
Ozone House, 1 LSC, Block A-3, Janak Puri, New Delhi – 110058, India |
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Tel. No.: |
91-11-25572371 to 76 / 25528962 / 25502653 / 45540000 |
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Fax No.: |
91-11-25501985 / 25502773 / 25508311 / 25501985 |
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E-Mail : |
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Website : |
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Factory 1 : |
34, Katha Badi 173205, Himachal Pradesh, India |
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Tel. No.: |
91-1795-246854, 246855 |
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Fax No.: |
91-1795-246129 |
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Factory 2 : |
EPIP, Amingaon, Guwahati 781031, Assam |
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Tel. No.: |
91-361-2682769 |
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Fax No.: |
91-361-2682559 |
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Factory 3 : |
Ozone
Pharmaceuticals Limited (Analytical Lab) |
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Tel. No.: |
91-1276-267137 / 267792 |
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Fax No.: |
91-1276-268037 |
DIRECTORS
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Name : |
Mr. Sudershan Verma |
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Designation : |
Director |
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Address : |
121, Sector 33-A, Chandigarh |
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Date of Birth/Age : |
09.09.1934 |
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Qualification : |
Graduate |
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Date of Appointment : |
09.03.1994 |
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Name : |
Mr. Sushant Chander Sehgal |
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Designation : |
Director |
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Address : |
C-445, Sushant Lok, Gurgaon, Haryana, India |
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Date of Birth/Age : |
30.04.1952 |
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Qualification : |
B. Sc. |
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Date of Appointment : |
21.06.1996 |
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Name : |
Mrs. Pushpalata Sehgal |
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Designation : |
Director |
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Address : |
C-445, Sushant Lok, Gurgaon, Haryana, India |
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Qualification : |
Graduate |
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Date of Birth/Age : |
10.09.1930 |
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Date of Appointment : |
18.11.1996 |
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Name : |
Mr. Suraj Bhan Gupta |
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Designation : |
Director |
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Address : |
A-1/287, Janak Gupta, New Delhi – 110058, India |
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Qualification : |
LLB |
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Date of Birth/Age : |
09.11.1934 |
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Date of Appointment : |
20.10.1997 |
KEY EXECUTIVES
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Name : |
Mr. Kamal Verma |
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Designation : |
Company Secretary |
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Address : |
B-246, Harinagar, New Delhi – 110064, India |
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Qualification : |
ACA, ACS |
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Date of Birth/Age : |
28.06.1978 |
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Date of Appointment : |
15.01.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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P. L. Sehgal |
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189791 |
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S. C. Sehgal |
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2048710 |
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Sudershan Verma |
|
72805 |
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Deepak Varma |
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7500 |
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M. N. Verma |
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20570 |
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Sushila Mehta |
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13172 |
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Manju Bensal |
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10000 |
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Shruti Sehgal |
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3100 |
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Karan Sehgal |
|
3223 |
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Anupam Verma |
|
41213 |
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Sadhana Mehta |
|
4223 |
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Chanderksh |
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2500 |
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Swatantra Aggarwal |
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2500 |
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B. S. Kalra |
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3000 |
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Madan Kakkaar |
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2500 |
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M. L. Verma |
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2500 |
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O. M. Yunuse Kunju |
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2500 |
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Paramjit Kaur |
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2500 |
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Veena Minocha |
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2500 |
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Veerendra Singh |
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2500 |
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Md. Israel |
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2500 |
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Radhey Shyam Gupta |
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2500 |
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Sudha Rani Gupta |
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2500 |
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Shakri Srivastava |
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2500 |
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Pramod Kr. Srivastava |
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2500 |
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Rajesh Prabhakar Singh |
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2500 |
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Neeta Aggarwal |
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2500 |
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Aditya Manglik |
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2500 |
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Mohammad Shafi |
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4000 |
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Vijay Aggarwal |
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2500 |
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Ashesh Nagayach |
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2500 |
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Urmila Devi |
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2500 |
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Sonia Bhandari |
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2500 |
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Romi Kapoor |
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2500 |
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Shrda Purohit |
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2500 |
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B. L. Kantroo |
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2500 |
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Sudesh Gupta |
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2500 |
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Geeta Sehgal |
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197106 |
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Amit Sehgal |
|
5707 |
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Vijay Sehgal |
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15000 |
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Directors of relatives of directors |
|
96.00 |
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Other top fifty shareholders |
|
4.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Healthcare
Related Products, Pharmaceutical and Ayurvedics Products |
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Products : |
Medicines |
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Exports : |
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Countries : |
West Indies, Africa, South East Asia, united Emirates, Malaysia,
Myanmar, Bangladesh, Maldives, Mauritius, Kenya, Nigeria, Ghana, Canada,
United Kingdom, Hungary, Poland, Viet Nam and Sri Lanka |
GENERAL INFORMATION
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No. of Employees : |
100 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M. M. Bhasin and Company Chartered Accountants |
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Address : |
501, Ratan Jyoti Building, 18, Rajendra Place, New Delhi- 110008,
India |
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Memberships : |
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Associates/Subsidiaries : |
Ozone UK Limited 139 Kingston Road, Wimbledon,
London SW 19 1LT |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2722999 |
Equity Shares |
Rs. 10/- each |
Rs. 27.230
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
27.230 |
26.991 |
26.991 |
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2] Share Application Money |
0.000 |
1.235 |
0.000 |
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3] Reserves & Surplus |
183.117 |
149.908 |
120.125 |
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4] Accumulated Losses |
0.000 |
0.000 |
0.000 |
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NETWORTH |
210.347 |
178.134 |
147.116 |
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LOAN FUNDS |
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1] Secured Loans |
115.498 |
119.157 |
61.303 |
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2] Unsecured Loans |
22.322 |
19.839 |
19.787 |
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TOTAL BORROWING |
137.820 |
138.996 |
81.090 |
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DEFERRED TAX LIABILITIES |
3.106 |
2.446 |
5.676 |
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TOTAL |
351.273 |
319.576 |
233.882 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
114.091 |
97.299 |
67.592 |
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Capital work-in-progress |
9.995 |
10.891 |
9.861 |
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INVESTMENT |
11.721 |
0.182 |
0.181 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
92.398
|
104.175
|
76.190 |
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Sundry Debtors |
77.808
|
66.883
|
31.707 |
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Cash & Bank Balances |
2.766
|
1.934
|
22.879 |
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Loans & Advances |
86.398
|
50.298
|
52.373 |
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Total
Current Assets |
259.370
|
223.290
|
183.149 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Current Liabilities |
55.349
|
53.148
|
68.720 |
|
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Provisions |
0.000
|
0.000
|
2.136 |
|
Total
Current Liabilities |
55.349
|
53.148
|
70.856 |
|
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Net Current Assets |
204.021
|
170.142
|
112.293 |
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MISCELLANEOUS EXPENSES |
11.445 |
41.062 |
43.955 |
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TOTAL |
351.273 |
319.576 |
233.882 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
677.058 |
584.731 |
455.967 |
|
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Other Income |
0.000 |
0.000 |
1.295 |
|
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Total Income |
677.058 |
584.731 |
457.262 |
|
|
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|
|
|
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Profit/(Loss) Before Tax |
42.187 |
37.134 |
34.059 |
|
|
Provision for Taxation |
7.126 |
6.396 |
3.379 |
|
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Profit/(Loss) After Tax |
35.061 |
30.738 |
30.680 |
|
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Expenditures : |
|
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|
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Raw Material Consumed |
114.879 |
134.663 |
145.549 |
|
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Purchases made for re-sale |
0.000 |
0.000 |
16.332 |
|
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Consumption of stores and spares parts |
3.550 |
3.399 |
1.877 |
|
|
Increase/(Decrease) in Finished Goods |
17.415 |
[14.134] |
33.571 |
|
|
Salaries, Wages, Bonus, etc. |
34.542 |
24.814 |
19.051 |
|
|
Managerial Remuneration |
1.206 |
0.911 |
0.750 |
|
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Payment to Auditors |
0.585 |
0.502 |
0.268 |
|
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Interest |
9.217 |
11.236 |
9.243 |
|
|
Insurance Expenses |
0.471 |
0.397 |
0.336 |
|
|
Power & Fuel |
3.103 |
3.082 |
2.635 |
|
|
Depreciation & Amortization |
16.623 |
13.509 |
9.072 |
|
|
Other Expenditure |
433.280 |
369.218 |
184.522 |
|
Total Expenditure |
634.871 |
547.597 |
423.206 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
5.18 |
5.26
|
6.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.23 |
6.35
|
7.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.30 |
11.58
|
13.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.21
|
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.92 |
1.08
|
1.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.69 |
4.20
|
2.58 |
LOCAL AGENCY
FURTHER INFORMATION
FIXED ASSETS
- Land
- Building
- Generator
- Machinery
- Computer
- Office
Equipments
- Computer
- Furniture
- Electrical
Installations
- Air
Conditioner
- Motor
Vehicles
Bankers Charges
Report as per Registry
|
Name of the company |
OZONE PHARMACEUTICALS LIMITED |
|
1) Date and description of instrument creating the change |
Goods security
agreement dated 22.01.2003 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Total facilities
of Rs. 15.000 Millions |
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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 |
First exclusive
charge on Plant and Machinery of the company at Baddi, Himachal Pradesh, First Paripassu
charge on all present and future stock and book debts of the company. Pari
Passu charge with North Eastern Development Finance Corporation Limited |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Repayable on
demand Cash Credit at
14.50 % p.a. Other interest
rates as per RBI mandated rates specified from time to time. |
|
5) Name and Address and description of the person entitled to the charge. |
Citi Bank NA, Jeevan Vihar Building, 3, Sansad Marg, New Delhi –
110001, India |
|
6) Date and brief description of instrument modifying the charge |
Deed of
Modification dated 23.05.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Fund based
facility enhanced form Rs. 15.000 Millions to Rs. 30.000 millions. Other
terms and conditions remain same. |
|
Corporate
identity number of the company |
U99999DL1991PLC043461 |
|
Name of the
company |
OZONE PHARMACEUTICALS LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
B-43, Shankar Garden, Najar Garh Road, Delhi, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
ICICI Bank
Limited Landmark Race
Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India |
|
Nature of
instrument creating charge |
Master Facility
agreement and deed of hypothecation |
|
Date of
instrument Creating the charge |
29.05.2006 |
|
Amount secured by
the charge |
Rs. 20.000
Millions |
|
Description of
the property charged indicating whether it is a charged on |
|
|
Particulars of
the property charged |
Mortgage by
deposit of title deeds in favour of the bank as security on : Office No. 401, 4th
Floor, Omega, Powai, Mumbai New Factory and
Building at Naroli |
AS PER WEBSITE
A subject gets its name from
"OZONE", a form of oxygen, which is spread all over the atmosphere,
with its maximum concentration in the stratosphere, which is the upper part of
atmosphere, approximately 20 kilometers from the earth. The ‘Ozone’ layer is
extremely crucial to their planet-Earth as it absorbs harmful ultraviolet rays
from the sun and keeps them away from the earth, and thus providing
"protection" to the earth from the biologically dangerous effects of
ultraviolet solar radiation.
Their company's name OZONE is
synonymous of "Protection", ie. Ozone protects humanity from various
ailments. The company was incorporated in 1991 with a keen desire and
aspiration to serve humanity through the finest quality medicaments. They have
put up two ultramodern and most-advanced manufacturing units in Himachal
Pradesh (Baddi) and Assam (Guwahati) using the State of the "Art"
technology in production, quality control and packaging.
Subject is manufacturing high quality
medicines in a pollution free environment. The Infrastructure and the
production facilities meet international standards of quality production as per
the guidelines of "GOOD MANUFACTURING PRACTICES" laid down by WHO.
The entire manufacturing process is untouched by human hands and is on TOTAL
AUTOMATION with stringent dehumidifying controls to ensure ideal
bio-availability and stability of the products. They can confidently claim that
the quality of their products is equivalent to the best in the industry and the
same is endorsed through their proud possession of WHO-GMP CERTIFICATE and WQC
award - an international award for quality commitment.
Ozone
Landmarks
2006
·
Ozone Pharmaceuticals touched a turnover of Rs. 570
Millions.
·
Ozone Specialties becomes operational nationally
2005
·
Launch of generic division (for dispensing doctors).
·
“Pride of India” award won by the Ozone M.D.
2004
·
Launch of Ozone Specialties (OS) – A venture of Cardiac and
Diabetic segment.
·
Launch of Institutional business (for hospital sales).
·
Launch of Ozone Mission (Ozone CSR initiative for the
upliftment of the poor and the needy).
2003
·
Introduction of Ozone International and 4thD Magazine.
·
OPL achieved an annual turnover of Rs. 330 Millions
(2002-03).
·
OPL becomes No. 1 in terms of rate of growth amongst the top
100 companies as per the market research agency ORG-IMS.
·
2002-03 started with a field force of 279 and ended with a
field strength of 450 approximately in OPL itself.
·
TRANOSTAT launched in June’02 became the No. 1 brand of
Tranexamic Acid in June’03.
·
OPL received “World Quality Commitment (WQC) International Star
Award, Paris – 2003 becoming one of the two Indian companies selected for the
award.
2002
·
Achieved an annual turnover of Rs. 500 Millions as a group
(OPL – Rs. 250 Millions plus OA – Rs. 250 Millions).
·
OPL introduces potential molecules in the form of its brands
– TRANOSTAT and OSIL.
2001
·
OPL becomes nationally operating company covering all the
states.
·
Ozone Pharma (OP) started as a separate company.
1997
·
Achieved double figure for the first time – a turnover of
Rs. 100 Millions.
·
Two units commissioned at Baddi (HP) and Amingaon (Assam)
for meeting added/increased demand of products.
1995
·
Touched annual turnover of Rs. 50 Millions.
·
Initiation of second manufacturing unit of Bahadurgarh.
1993
·
Inception of the company – Ozone Pharmaceuticals Limited
·
Operations started in Northern India and Nepal with only one
manufacturing unit at Bahadurgarh
The
Group comprises four other strategic business units:
Ozone Ayurvedics manufacturing a wide range
of health, wellness and skincare brands including the well-known NOMARKS Cream
Ozone Pharmaceuticals Limited
manufacturing and marketing allopathic medicines that conform to WHO GMP
standards
Ozone UK Limited, the overseas
marketing arm for Ozone Ayurvedics
Ozone Mission, an organisation working
for the betterment of the lives of the underprivileged across more than a
hundred villages.
These strategic business units and
their combined experience give the Group a cumulative knowledge base spanning
homoeopathy, Ayurvedic and herbal products in both the domestic as well as
overseas markets.
The Group believes in the strength and
importance of customer relationships and has established extensive relationship
marketing programmes
Ayurveda is a Key
Strength
A key advantage offered by the
Laboratory lies in its core competence in respect of evolving standards for and
testing of Ayurvedic products.
Since there are no existing standards,
they are able to leverage their practical exposure to large scale manufacturing
and set globally acceptable standards on behalf of their customers.
In addition to testing Ayurvedic
products, they also help manufacturers to develop new formulations and
products, and adopt best practices in manufacturing.
Why was the Ozone
Analytical Testing Lab Established?
Ozone Pharmaceuticals Limited has two
fully-automated WHO-approved manufacturing facilities each having extensive lab
infrastructure. The Analytical Testing Laboratory acts as an extended auditing
arm.
The Lab has access to a large pool of
accumulated knowledge, backed by manufacturing expertise and practical
experience, which is ready to share with its customers
In addition to technical knowledge, the
Lab can also tap the Group's hands-on experience in marketing patented products
across the world, and share the same with customers
Ozone
News Archive
THE OZONE GROUP LAUNCHES PROTEIN
SEQUENCER IN INDIA- A BREAKTHROUGH TECHNOLOGY IN PROTEIN SCIENCE
Description:
The Ozone Group, an established player
in the Pharmaceutical & Consumer Healthcare space, has launched India's
first Protein Sequencer, a breakthrough technology in protein science leading
to advances in drug development, in October 2007. The protein sequencer is
developed under the Ozone Research Frontier in the US, the R&D division of
the Ozone group.
As presence or absence of proteins in
the human body is the reason for disease occurrence, the study of protein
structure and function through the protein sequencer can lead to the
development of drugs and treatments for numerous disorders.
A protein sequencer is an instrument
that is used to determine the sequence of amino acids in a protein. It works by
tagging and removing one amino acid at a time, which is analyzed and
identified. This is repetitively done for the whole protein, until the whole
sequence is established.
The worldwide market for Protein Sequencer is around US$ 20 billion and the
Indian market is about Rs. 500-700 Millions.
New Launches from Ozone Pharmaceuticals
Limited
Description:
1. As a part of its portfolio, Ozone
Pharmaceuticals Limited will be introducing two brand extensions Dyrect P
and Clavcare Dry Syrup. By slightly altering the composition of the
existing brand Dyrect, OPL will now be introducing its brand extension called
Dyrect P. Each TPAP coated tablet of Dyrect P contains Paracetamol 500 mg,
Diclofenac Potassium 50 mg, and Serratiopeptidase 10 mg.
·
Dyrect P shall now be positioned in the
following indications: Surgery Post operative Pain and Hematoma, Gynecology
Episiotomy, PID, Caesarean cases, Orthopedics Surgery and Trauma, Dentistry 3rd
Molar Extraction, Dental Surgery.
·
Clavcare Dry Syrup is being introduced as a brand
extension to Clavcare especially for the paediatric fraternity. Each 5 ml of the
reconstituted suspension of Clavcare Dry Syrup contains Amoxycillin Trihydrate
equivalent to Amoxycillin 200 mg , Potassium Clavulanate eq. to Clavulanic acid
28.5 mg and Lactic Acid bacillus Spores 30 million. Clavcare shall now be
positioned in the indications Upper Respiratory Tract Infections, Lower
Respiratory Tract Infections, Urinary Tract Infections, Skin and soft tissue
infections.
Clavcare Dry Syrup is a broad spectrum antibiotic, a combination of
Amoxicillin, Clavulanic acid and Lactic acid bacilli spores. It provides a dual
support to the patients by giving coverage against infections and also by
simultaneously providing compliance due to 30 million lactic acid bacilli
spores, which takes care of antibiotic associated diarrhea.
2. Ozone Pharmaceuticals Limited is
also expanding its Gynae portfolio with the launch of two nutritional
supplements OZORED & OZOWITE. These supplements are meant for
the two important phases of womanhood i.e. pregnancy & lactation.
3. Ozone Specialities is further
strengthening its portfolio by introducing Cynocal M Forte. It is an ideal
complete formulation of Methylcobalamin, antioxidant and appropriate vitamins.
Ozone Pharmaceuticals Limited Records
Impressive Growth
Description:
In 2006-07, the turnover of Ozone
Pharmaceuticals Limited was Rs. 560 Millions, which reflected a growth of 18%
over the previous year. For 2007-08, the company is aiming at a Rs. 750
Millions target - a further growth of 35%
The company is working aggressively on expanding its pharma business. Its
overall pharma dealings, comprising the operations of Ozone Pharmaceuticals
Limited and its marketing divisions, Ozone Specialties and Ozone Generics &
Institutions, are expected to touch the Rs. 1000 Millions mark during the
current fiscal.
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 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
67 |
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/normal. |
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 |
|