MIRA
INFORM REPORT
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Report Date : |
16.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
ADVANCED ENZYME TECHNOLOGIES LIMITED (W.E.F. 08.08.2005) |
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Formerly Known As : |
ADVANCED BIOCHEMICALS LIMITED |
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Registered Office : |
A Wing, Sun Magnetica, 5th Floor, Accolade Galaxy, LIC
Services Road, Louiewadi, Thane – 400 604, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
15.03.1989 |
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Com. Reg. No.: |
11-51018 |
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CIN No.: [Company
Identification No.] |
L24200MH1989PLC051018 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEA05159A |
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PAN No.: [Permanent
Account No.] |
AABCA4555E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturers and Producers of Industrial Enzymes. |
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 1100000 |
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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. Available
information indicates satisfactory financial responsibility of the company. Trade
relations are fair. Business is active. Payments are reported as usually
correct and as per commitments. The company can be considered good for normal
business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
A Wing, Sun Magnetica, 5th Floor, Accolade Galaxy, LIC
Services Road, Louiewadi, Thane – 400 604, Maharashtra, India |
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Tel. No.: |
91-22-25838350-54/ 0188 |
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Fax No.: |
91-22-25835159 |
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E-Mail : |
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Website : |
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Branches : |
Specialty Enzymes & Biochemicals 13591 Yorba Ave, Chino CA 91710, USA |
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Tel. No.: |
+1-909-613-1660 |
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Fax No.: |
+1-909-613-1663 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Chandrakant Laxminarayan Rathi |
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Designation : |
Managing Director |
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Address : |
Row House No. 18, Eternity, Teen Hath Naka, Thane (West) – 400 601,
Maharashtra, India |
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Date of Birth/Age : |
12.06.1954 |
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Date of Appointment : |
23.03.1992 |
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Name : |
Mr. Govind Chintaman Core |
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Designation : |
Director |
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Address : |
A-3, Dream Presidency, Near Purshottam High School, Nashik – 422 101,
Maharashtra, India |
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Date of Birth/Age : |
05.05.1950 |
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Date of Appointment : |
07.06.2006 |
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Name : |
Mr. Ramesh Thakorlal Mehta |
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Designation : |
Director |
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Address : |
C/ 2, Sea Face Park, 50, Bhulabhai Desai Road, Mumbai – 400 026,
Maharashtra, India |
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Date of Birth/Age : |
02.10.1932 |
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Date of Appointment : |
05.03.1993 |
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Name : |
Mr. Mukund Madhusudan Kabra |
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Designation : |
Director |
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Address : |
33, Sheetal Housing Society, Takli Road, Nashik – 422 011,
Maharashtra, India |
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Date of Birth/Age : |
09.07.1972 |
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Date of Appointment : |
04.09.1999 |
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Name : |
Mrs. Savita Chandrakant Rathi |
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Designation : |
Director |
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Address : |
Row House No. 18, Eternity, Teen Hath Naka, Thane (West) – 400 601,
Maharashtra, India |
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Date of Birth/Age : |
26.02.1961 |
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Date of Appointment : |
12.01.2003 |
KEY EXECUTIVES
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Name : |
Mr. Beni Prasad Rauka |
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Designation : |
Company Secretary |
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Address : |
Lotus, 703, Vasant Valley, Near Dindoshi Bus Depot, Malad (East),
Mumbai – 400 097, Maharashtra, India |
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Date of Birth/Age : |
01.04.1964 |
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Date of Appointment : |
02.09.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Category |
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Percentage of
Holding |
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Foreign Holdings (Foreign Institutional Investor(s), Foreign
Companies, Foreign Financial Institution, Non Resident Indian, or Overseas
Corpoprate Bodies or Others) |
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58.27 |
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Bodies Corporate |
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30.70 |
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Directors or Relatives of Directors |
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5.00 |
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Other Top Fifty (50) shareholders |
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3.70 |
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Others |
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2.63 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Producers of Industrial Enzymes. |
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Products : |
Industrial Enzymes |
GENERAL
INFORMATION
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Bankers : |
* Citi Bank NA Citigroup Centre, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India |
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Facilities : |
Secured Loan (Rs.
in millions)
Term loans are secured by hypothecation of plant and machinery,
movable assets including spares etc. and other specific assets acquired there
against and guaranteed by the Managing Director. Working capital facilities secured by first charge on stock and book
debts and second charge on all plant and machinery and guaranteed by the
Managing Director. Hire Purchase Finance are secured by hypothecation of specific assets
acquired there against Term loan repayable within one year Rs. 16.825 millions. Unsecured Loan (Rs.
in millions)
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M M Nissim and Company Chartered Accountants |
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Address : |
Barodawala Mansion, B Wing, 3rd Floor, 81, Dr. Annie Besent
Road, Worli, Mumbai – 400 018, Maharashtra, India |
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Subsidiaries : |
* Advanced
Bio-Nutraceuticals Limited * Advanced
Bio-Agro Tech Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15, 000, 000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,365,600 |
Equity Shares |
Rs. 10/- each |
Rs. 103.656 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
103.656 |
51.828 |
51.828 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
171.633 |
172.143 |
146.162 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
275.289 |
223.971 |
197.990 |
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LOAN FUNDS |
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1] Secured Loans |
263.020 |
136.190 |
56.772 |
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2] Unsecured Loans |
72.159 |
57.536 |
49.873 |
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TOTAL BORROWING |
335.179 |
193.726 |
106.645 |
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DEFERRED TAX LIABILITIES |
55.536 |
48.987 |
48.294 |
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TOTAL |
666.004 |
466.684 |
352.929 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
359.218 |
291.109 |
240.165 |
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Capital work-in-progress |
92.985 |
30.853 |
2.206 |
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INVESTMENT |
4.909 |
4.620 |
1.047 |
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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 |
169.053
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110.967 |
104.530 |
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Sundry Debtors |
92.502
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84.920 |
54.726 |
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Cash & Bank Balances |
3.408
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3.811 |
6.305 |
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Other Current Assets |
0.000
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0.000 |
0.190 |
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Loans & Advances |
46.400
|
21.423 |
17.746 |
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Total
Current Assets |
311.363
|
221.121 |
183.497 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
99.473
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63.902 |
58.901 |
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Provisions |
3.022
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17.153 |
16.018 |
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Total
Current Liabilities |
102.495
|
81.055 |
74.919 |
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Net Current Assets |
208.868
|
140.066 |
108.578 |
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MISCELLANEOUS EXPENSES |
0.024 |
0.036 |
0.933 |
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TOTAL |
666.004 |
466.684 |
352.929 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
611.956 |
500.485 |
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Other Income |
6.339 |
3.175 |
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Total Income |
618.295 |
503.660 |
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Profit/(Loss) Before Tax |
85.367 |
54.195 |
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Provision for Taxation |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
85.367 |
54.195 |
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Earnings in Foreign Currency : |
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Export Earnings |
NA |
115.473 |
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Commission Earnings |
NA |
0.000 |
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Other Earnings |
NA |
0.000 |
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Total Earnings |
NA |
115.473 |
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Imports : |
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Raw Materials |
NA |
74.002 |
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Stores & Spares |
NA |
5.621 |
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Capital Goods |
NA |
5.709 |
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Others |
NA |
0.000 |
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Total Imports |
NA |
85.332 |
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Expenditures : |
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Cost of Goods Sold |
0.000 |
0.000 |
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Manufacturing Expenses |
0.000 |
0.000 |
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Administrative Expenses |
0.000 |
0.000 |
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Raw Material Consumed |
268.467 |
214.421 |
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Purchases made for re-sale |
0.000 |
0.000 |
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Consumption of stores and spares parts |
22.309 |
18.171 |
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Increase/(Decrease) in Finished Goods |
(34.592) |
6.886 |
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Salaries, Wages, Bonus, etc. |
43.800 |
36.620 |
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Managerial Remuneration |
7.067 |
7.239 |
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Payment to Auditors |
0.143 |
0.175 |
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Interest |
14.859 |
8.027 |
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Insurance Expenses |
2.313 |
1.509 |
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Power & Fuel |
51.004 |
33.702 |
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Depreciation & Amortization |
27.434 |
22.046 |
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Other Expenditure |
130.121 |
100.668 |
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Total Expenditure |
276.741 |
449.464 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
13.80
|
10.76 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
13.80
|
10.76 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
11.10
|
9.89 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.24 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.79
|
2.44 |
2.16 |
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Current Ratio (Current Asset/Current Liability) |
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3.03
|
2.72 |
2.44 |
LOCAL AGENCY
FURTHER INFORMATION
Subject was formerly known as Advanced Biochemicals Limited. It has been
changed to Advanced Enzyme Technologies Limited w .e. f. 08.08.2005.
The Registered Office of the company has been shifted from 106,
Dhanlaxmi Industrial Estate, L B S Marg, Thane (West) – 400 601, Maharashtra,
India, to the present address w e. f. 03.10.2006.
FORM 8
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This form is for |
Modification of charge |
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Whether charge is modified in favour of asset reconstruction company (ARC) of assignee |
No |
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Charge Identification (ID) number of the charge to be modified |
90146880 |
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Corporation identity number (CIN) or foreign company registrations number of the company |
L24200MH1989PLC051018 |
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Name of the company |
ADVANCED ENZYME TECHNOLOGIES LIMITED |
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Address |
A Wing, Sun Magnetica, 5th
Floor, Accolade Galaxy, LIC Services Road, Louiewadi, Thane – 400 604, Maharashtra, India |
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Type of Charges |
Book Debts, Movable Property, Floating charge |
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Whether consortium finance is involved |
No |
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Whether joint charge involved |
No |
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Number of charge holder(s) |
1 |
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Particular of the charge holder |
Citi Bank NA Citigroup Centre, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India |
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Nature or description of the instrument creating or modifying the charge |
Deed of modification |
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Date of the instrument creating charge |
20.11.2007 |
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Whether charge created or modified outside India |
No |
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Amount Secure by the charge |
Rs. 75.000 millions |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: Interest to be charge at such rate/s as may be determined by the bank from time to time Terms of repayment: on demand Margin: margin may be stipulated by the bank from time to time Extent and operation of the charge: the stock and book debts hypothecated to the bank more particularly described in coloumn no 14 as and by way of first pari passu charge and second pari passu charge as security for the repayment of the loan together with all interest, liquidated damages, premia on repayment or on redemption, costs, charges and other expenses payable by the borrower to the bank. |
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Short particulars of the Property charged |
Hypothecation of first pari passu charge on the current assets and second pari passu charge on present and future movable fixed assets and immovable property including land and building located at Nashik, Indore, Shahpur and R and D labs at Thane and new corporate premises at Thane |
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Whether any of the property or interest therein under reference is not registered in the name of the company |
No |
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Date of latest modification prior to the present modification |
22.06.2005 |
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Particulars of the present modification |
The bank has now increased the credit facilities from Rs. 50.000 millions to Rs. 75.000 millions. All other terms and conditions shall remain the same. |
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Name of the company
|
ADVANCED ENZYME
TECHNOLOGIES LIMITED |
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Presented By |
Mr. C L Rathi |
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1) Date and description of instrument creating the change |
Goods security agreement dated 22.06.2005 executed by Advanced Biochemicals Limited (be matter referred to as “the Company) in favour of Citi Bank NA hereinafter referred to as “the Lender”. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Total Working Capital facilities of Rs. 50.000 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 pari passu charge on current assets and fixed assets of the company including stocks, book debts and plant office equipments, furniture and fixtures, computers, air conditioners, etc. lying at office premise(s), any of the factory location or at any other location as per the terms of the goods security agreement. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
In consideration of the lender having agreed to lend advanced to the company the said credit facilities under agreement the company convenants inter ali as follows. 1] The company do repay the facility as mentioned in (2) above and pay interest and all other monies in the manner set out in the said agreement between the company and the lender and to comply with the terms and conditions of the said agreement 2] The charge on the current assets and fixed assets (including stock, book debts, plant and machinery) hypothecated to the lender will rank first pari passu to the charges created to be created in favour of Union Bank of India for their working capital facilities. The above assets will be under charge as per interest, liquidated, damages, premia on repayment or on redemption costs, charges, and other expenses payable by the company to the lender in respect therof. Margin: 28% on stocks and 37% on receivables. 3] The company to keep the said assets in marketable and good conditions and also insured as provided therein. 4] Power of entry, power to take charge and or possession of seize, recover, receive, appoint and sell, contract, dispatch for realization or otherwise dispose of or deal with the all or any part of the said goods, etc. as provided therein. |
|
) Name and Address and description of the person entitled to the charge. |
Citi Bank NA Citigroup Centre, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
N A |
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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. |
N A |
Fixed Assets:
n Land
n Buildings
n Plant and Machinery
n Furniture and Fixtures
n Office Equipments
n Computer
n Vehicles
Contingent Liabilities not provided for:
n Disputed Sales Tax liability of Rs. 0.048 million (Rs. 5.268 millions)
n Disputed Excise Duty liability of Rs. Nil (Rs. 0.291 million)
n Disputed Income Tax liability Rs. 0.033 million (Rs. 0.033 million)
n Bills discounted Rs. 7.541 millions (Rs. 3.939 millions)
n Mumbai Port trust claim for demurrage charges and interest Rs. 0.528
million (Rs. 0.528 million)
As per Web:
Profile
Advanced Enzyme Technologies Limited was established with a purpose of
providing ecofriendly products for various industries. They have today emerged
as world leaders in the production of industrial enzymes.
The vision to form this company came from founder Mr. L. C. Rathi, who
is the forefather of the Indian Enzyme Industry. Mr. L. C. Rathi, pioneered the
production of papain, a vegetable enzyme derived from papaya fruit and set-up
India's first natural enzyme plant way back in 1958. Advanced Enzyme
Technologies Ltd has carried forth the tradition of that entrepreneurial spirit
since 1990. Their extensive biotech experience has led to the development of
hundreds of unique enzyme solutions addressing the needs of customers in 25
industries and over 30 countries.
Advanced Enzyme Technologies Limited prides itself on being one of the
few manufacturers in the world that produces a full spectrum of industrial
enzymes derived from all four natural origins: plant, vegetable, fungus, and
bacteria. And they use both solid state and submerged culture techniques of
fermentation.
The Research & Development team at Advanced Enzyme Technologies Ltd
is consistently focused on new application development. They share extensive
knowledge with clients in order to help them remain the leaders in their
fields. Enzymes are eco-friendly solutions to industrial problems. They can
improve manufacturing efficiency and lower costs.
Advanced Enzyme Technologies Ltd specializes in developing tailored
enzyme solutions for individual customers. Their growing production base,
comprehensive advisory and after sales services, allows to cater to rapidly
expanding global markets.
Vision
Through continuous research and development, Advanced Enzyme
Technologies Ltd is developing a rapidly expanding range of products and
services. The current product line includes several types of proteases,
carbohydrases, amylases, cellulases, and lipases. They specialize in creating
custom-made enzyme blends to meet the needs of their individual customer.
Their goal is to create innovative enzyme based products that add value
to their clients and enhance the quality of life using environmentally friendly
biotechnology. They strive to build enduring relationships with their customers
and suppliers. In less than two decades, they have emerged as a leading:
Solution Provider: Hundreds of clients in over 25 industries turn to to
facilitate customized needs and applications.
Application Specialist: Almost 20 years of market knowledge allows to
provide innovative context-specific enzyme solutions for the health care,
animal nutrition and natural products industries.
Industrial Enzyme Manufacturer: Their large plant capability allows for
timely delivery of quality enzyme products to their clients around the globe.
They aspire to the leading application oriented enzyme manufacturer to
the world.
Team
Around the world, Advanced Enzyme Technologies Ltds' team of 180 people
are working in pursuit of delivering excellence to their customers through
quality products and unparalleled customer service.
The head office is based at Mumbai and the manufacturing plant is located in
Nasik, India. Their sister company, Specialty Enzymes and Biochemicals Co., was
established in 1985. Its head office and production facility is based at Chino,
CA, USA.
Their multi-disciplinary Research and Development team consists of
microbiologists, biochemists, chemical engineers, food technologists, and
biotechnologists with several years of experience with enzyme technology. At
the core of their Sales and Marketing team is a commitment to their clients
through comprehensive advisory and after sales services.
They are led by Chairman Mr. Vic Rathi, M.S. Biotechnology and Managing
Director Mr. C. L. Rathi, a Chemical Engineer, both having over 25 years of
experience in the Enzyme Industry.
Products and
Services
*
Leather Processing
*
Pharmaceuticals
*
Agriculture
*
Tea Processing
*
Animal Healthacare and Nutrition
*
Fruit Jiuce Processing
*
Brewing and Distilling
*
Baking
*
Textile Processing
Enzymes
Many chemical transformation processes used in various industries have inherent drawbacks from a commercial and environmental point of view. Non-specific reactions may result in poor product yields. High temperatures and/or high pressures needed to drive reactions lead to high energy costs and may require large volumes of cooling water downstream. Harsh and hazardous processes involving high temperatures, pressures, acidity or alkalinity need high capital investment, and specially designed equipment and control systems. Unwanted by-products may prove difficult or costly to dispose off. High chemical and energy consumption as well as harmful by-products have a negative impact on the environment.
All of these drawbacks can be virtually eliminated by using ENZYMES. Enzyme reactions are carried out under mild conditions, they are highly specific, involve very fast reaction rates, and are carried out by numerous enzymes with different roles. Industrial enzymes originate from biological systems; they contribute to sustainable development through being isolated from microorganisms which are fermented using primarily renewable resources.
In addition, as only small amount of enzymes are required to carry out chemical reactions even on an industrial scale, both solid and liquid enzyme preparations take up very little storage space. Mild operating conditions enable uncomplicated and widely available equipment to be used, and enzyme reactions are easily controlled and can be stopped when the desired degree of substrate conversion has been achieved. Enzymes also reduce the impact of manufacturing on the environment by reducing the consumption of chemicals and energy, and the subsequent generation of waste.
Developments in genetic and protein engineering have led to
improvements in the stability, economy, specificity and overall application
potential of industrial enzymes. When all the benefits of using enzymes are
taken into consideration, it's not surprising that the number of commercial
applications for enzymes is increasing every year.
Class of Enzyme
Reaction Profile
Oxidoreductases: Oxidation reactions involve the movement of electrons from one molecule to another. In biological systems they usually see the removal of hydrogen from the substrate. Typical enzymes in this class are called dehydrogenases.
Transferases: This class of enzymes catalyses the transfer
of groups of atoms (radicals) from one molecule to another. Aminotransferases
or transaminases promote the transfer of an amino group from one amino acid to
an alpha-keto-acid.
Hydrolases: Hydrolases catalyse reactions between a
substrate and water, and bind water to certain molecules. In this way, larger
molecules are broken up into smaller units. This class of enzymes catalyses the
cleavage of peptide bonds in proteins, glucosidic bonds in carbohydrates, and
ester bonds in lipids.
Lyases: Lyases catalyse the addition of groups to double
bonds or the formation of double bonds through the removal of groups. Thus
bonds are cleaved using a different principle to hydrolysis. Pectate lyases,
for example, split the glycosidic linkages by beta-elimination.
Isomerases: Isomerases catalyse the transfer of groups from
one position to another on the same molecule. In other words, these enzymes
change the structure of a substrate by rearranging its atoms.
Ligases: Ligases join molecules together with covalent
bonds. These enzymes participate in biosynthetic reactions where new groups of
bonds are formed. Such reactions require the input of energy in the form of
cofactors such as ATP.
The Nature of Enzymes
Enzymes are biological catalysts in the form of globular proteins
that drive chemical reactions in the cells of living organisms. As such, they
have evolved - along with cells - under the conditions found on planet Earth to
satisfy the metabolic demands of an extensive range of cell types. In general,
these metabolic demands can be defined as:
Chemical reactions
take place under mild conditions
As the cells of nearly all animals, plants, and microorganisms can only
function optimally within a fairly narrow temperature range, enzymes carry out chemical
transformations under very mild conditions.
In order for this reaction to proceed non-enzymatically, heat has to be added
to the maltose solution to increase the internal energy of the maltose and
water molecules, thereby speeding up their collision rates and the likelihood
of their reacting together. The heat is supplied to overcome a barrier called
'activation energy' so that the chemical reaction can be initiated. As an
alternative, the enzyme maltase can drive the same reaction at 25°C by lowering
the activation energy barrier. It does this by capturing the chemical reactants
- called substrates - and bringing them into intimate contact at 'active sites'
where they interact to form one or more products. As the enzyme itself remains
unchanged by the reaction, it continues to catalyse further reactions until an
appropriate constraint is placed upon it.
Specific action according to enzyme class
To avoid metabolic chaos and create harmony in a cell teeming with innumerable
different chemical reactions, the activity of a particular enzyme must be
highly specific, both in the reaction catalysed and the substrates it binds.
Some enzymes may bind substrates that differ only slightly, whereas others are
completely specific to just one particular substrate. An enzyme usually
catalyses only one specific chemical reaction or a number of closely related
reactions. Unlike non-enzymatic chemical reactions, enzyme reactions rarely
lead to the formation of waste by-products.
Very fast reaction rates
The cells and tissues of living organisms have to respond quickly to the
demands put on them. Such activities as growth, maintenance and repair, and
extracting energy from food have to be carried out efficiently and
continuously. Again, enzymes rise to the challenge. Enzymes accelerate
reactions by factors of at least a million. Carbonic anhydrase, which catalyses
the hydration of carbon dioxide to speed up its transfer in aqueous
environments like the blood, is one of the fastest enzymes known. Each molecule
of the enzyme can hydrate 100,000 molecules of carbon dioxide per second. This
is equivalent to ten million times faster than a non-enzyme-catalysed reaction.
Numerous enzymes for different tasks
Because enzymes are highly specific in the reactions they catalyse, an abundant
supply of enzymes must be present in cells to carry out all the different
chemical transformations required. Most enzymes help break down large molecules
into smaller ones and release energy from their substrates. To date, scientists
have identified over ten thousand different enzymes. Because there are so many,
a logical method of nomenclature has been developed to ensure that each one can
be clearly defined and identified.
Although enzymes are usually identified using short trivial names,
they also have longer systematic names. Furthermore, each type of enzyme has a
four-part classification number (EC number) based on the standard enzyme
nomenclature system maintained by the International Union of Biochemistry and
Molecular Biology (IUBMB) and the International Union of Pure and Applied
Chemistry (IUPAC). Most enzymes catalyse the transfer of electrons, atoms or
functional groups. And depending on the types of reaction catalysed, they are
divided into six main classes, which in turn are split into groups and
subclasses. For example, the enzyme that catalyses the conversion of milk sugar
(lactose) to galactose and glucose has the trivial name lactase, the systematic
name beta-D-galactoside galactohydrolase, and the classification number EC
3.2.1.23.
Industrial enzymes are produced using a process called Submerged
Fermentation. This involves growing carefully selected microorganisms (bacteria
and fungi) in closed vessels containing a rich broth of nutrients (the
fermentation medium) and a high concentration of oxygen (aerobic conditions).
As the microorganisms break down the nutrients, they release the desired
enzymes into solution. Thanks to the development of large-scale fermentation
technologies, today the production of microbial enzymes accounts for a
significant proportion of the biotechnology industry's total output.
Fermentation takes place in large vessels called fermenters with volumes of up
to 1,000 cubic meters. The fermentation "Media" comprise of
sterilized nutrients based on renewable raw materials like maize starch, sugars
and soya grits. Various elementary salts are also added depending on the
microbe being grown. Most industrial enzymes are secreted by microorganisms
into the fermentation medium in order to break down the carbon and nitrogen
sources.
Both batch-fed and continuous fermentation processes are common.
In the batch-fed process, sterilized nutrients are added to the fermenter
during the growth of the biomass. In the continuous process, sterilized liquid
nutrients are fed into the fermenter at the same flow rate as the fermentation
broth leaving the system, thereby achieving steady-state production.
Operational parameters like temperature, pH, feed rate, oxygen consumption and
carbon dioxide formation are usually measured and carefully controlled to
optimize the fermentation process.
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 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.39.38 |
|
UK Pound |
1 |
Rs.76.90 |
|
Euro |
1 |
Rs.57.27 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
59 |
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 |
|