%2014-Feb-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
14.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
TULIP GROUP ( QUALPRO DIAGNOSTICS) |
|
|
|
|
Registered Office : |
Gitanjali , Tulip Block, Dr. Antonio Do Rego Bagh, Alto Santacruz, Bambolim
Complex, Post Office, Goa – 403 202 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
2000 |
|
|
|
|
Legal Form : |
Partnership concern with an Unlimited Liability of the Partners. |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Vitro Diagnostic Reagents and Kits. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 80000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established and reputed concern having
satisfactory track. Trade relations are fair. Business is active. Payments
are reported as usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. Subject does not have its own R and D / Design centre, as confirmed. |
INFORMATION PARTED
BY
|
Name : |
Mr. Ganesh |
|
Designation : |
Accountant |
|
|
|
|
Name : |
Mr.Sriram |
|
Designation : |
Partner |
LOCATIONS
|
Registered Office / Corporate Office : |
Gitanjali , Tulip Block, Dr. Antonio Do Rego Bagh, Alto Santacruz,
Bambolim Complex, Post Office, Goa – 403 202, India |
|
Tel. No.: |
91-832-2458546-51 |
|
Fax No.: |
91-832-2458544 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000 sq.fts (approximately) |
|
Location : |
Owned |
|
|
|
|
Factory : |
Tulip Diagnostics Private Limited Microxpress Orchid Biomedical Systems Qualpro Diagnostics Coral Clinical Systems Zephyr
Biomedicals Goa Area:10000 Sq.fts (approximately) Location: Leased |
|
|
|
|
Branches: |
Mumbai Branch: 307 / 308, 3rd Floor, ‘B’ Wing, Everest Chambers, Andheri – Kurla Road, Marol Naka, Andheri (East), Mumbai – 400 059, Maharashtra, India Tel No: 91-22-28595138 / 28594379 / 28598636 / 28598637 Pune Branch: Tulip Diagnostics
Private Limited Delhi Branch: Chennai Branch: Kolkata Branch: Kerala Branch: Karnataka Branch: Secunderabad Branch: Lucknow Branch: Bhopal Branch: |
PARTNERS
|
Name : |
Mr. N Sriram |
|
Designation : |
Partner |
|
Date of Birth/Age : |
47 years |
|
Qualification : |
Post Graduate |
|
Experience : |
20 years |
|
|
|
|
Name : |
Mr. D G Tripathi |
|
Designation : |
Partner |
|
Date of Birth/Age : |
45 years |
|
Qualification : |
MBA |
|
Experience : |
20 years |
|
|
|
|
Name : |
Dr. Naik |
|
Designation : |
Partner |
|
Date of Birth/Age : |
58 years |
|
Qualification : |
Post graduate |
|
Experience : |
25 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Vitro Diagnostic Reagents and Kits. |
|
|
|
|
Exports : |
|
|
Products : |
All Products |
|
Countries : |
Africa, Germany |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
USA, European Country, South Africa |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash, Credit (30 Days), Advance |
|
|
|
|
Purchasing : |
L/C, Cash, Credit (30 Days) |
GENERAL
INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
Around 200 |
|
|
|
|
Bankers : |
Saraswat Co-operative Bank Address: Panji Branch |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Associates/Subsidiaries : |
· Tulip Diagnostics Private Limited · Micro Express 307 / 308, 3rd Floor, ‘B’ Wing, Everest Chambers, Andheri – Kurla Road, Marol Naka, Andheri (East), Mumbai – 400 059, Maharashtra, India · Orchid Biomedical Systems Activity: Manufacturer, Exporter, Importer of Diagnostick Kits · Coral Clinical Systems Activity: Manufacturer , Exporter, Importer of Diagnostick Kits · Zephyr Biomedicals Activity: Manufacturer, Exporter, Importer of Diagnostick Kits |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 20.000 millions (estimated) |
|
Borrowed : |
---- |
|
Total : |
Rs. 20.000 millions (estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2007 |
|
Sales Turnover (approximately) |
|
|
200.000 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
· WHO
· UNISES
WEBSITE DETAILS:
Manufactures one step membrane and Elisa based tests and kits for Fertility,
Infectious diseases and Parasitology. The company has approximately 12000
sq.fts of manufacturing area.
Product:
· Fertility Range
· Infectious Disease Range
Since its inception in 1988. Tulip Group of Companies comprising of eight
independent diagnostic companies, has emerged as a leading manufacturer and
marketer of in vitro diagnostic reagents and kits, nationally and
internationally.
Well known for its innovative approach, the companies are owned, managed
and run by highly involved professionals and has continuously set new trends
through product development and improvements.
The group companies are headquartered in the scenic state
of Goa, India.
The Tulip Group of Companies comprise of the following independent companies
Tulip Diagnostics
Private Limited
------ Microxpress
· Orchid Biomedical Systems
· Zephyr Biomedicals
· Tulip Marketing Private Limited
· Lilac Medicare Private Limited
While Tulip Diagnostics Private Limited, focuses on assay systems for
Immunohaematology, Hematology, Rheumatology, Infectious Diseases and
Hemostasis, its Division Microxpress focuses on Essential Microbiology,
Mycobacteriology, Dehydrated Culture Media, bases and supplements.
Orchid Biomedical Systems focuses on rapid membrane based
immunodiagnostic platforms for Fertility, Infectious Diseases and Parasitology.
Qualpro and Zephyr Biomedicals focus on Virology and Emerging Infectious
Diseases and other markers.
Coral Clinical Systems focuses on Clinical and Analytical Reagents. Its
division BioSHIELDS deals with high technology disinfectants for industrial,
medical and domestic use.
Sharp segmental focus through well-differentiated and dedicated
research, production and sales teams ensures a flush new product pipeline and a
wide user base for the group's products; both nationally and internationally.
CMT REPORT
(Corruption, Money Laundering and 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.39.65 |
|
UK Pound |
1 |
Rs.77.84 |
|
Euro |
1 |
Rs.57.78 |
SCORE and 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 and 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 and 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 |
|