MIRA
INFORM REPORT
|
Report Date : |
11.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
R. P. TRADERS |
|
|
|
|
Registered Office : |
218, 2nd Floor, Vardhman City Centre, Shakti Nagar, New
Delhi-110052 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Year of Establishment : |
1999 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Trader and Exporter of Pharmaceutical Products |
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 23000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established and reputed concern meetings its
normal commitments timeously. Trade relations are fair. Business is active. Nothing adverse reported. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Satbir Singh Mendiratta |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9811212687 |
|
Date : |
02.07.2008 |
LOCATIONS
|
Registered Office : |
218, 2nd Floor, Vardhman City Centre, Shakti Nagar, New
Delhi-110052 |
|
Tel. No.: |
91-11 – 23659411 / 23659413 / 23643221 |
|
Mobile No.: |
91-919811212686 / 9811212687 |
|
Fax No.: |
91-11-23644966 |
|
E-Mail : |
rptraders@gmail.com |
|
Website : |
|
|
Area : |
300 Sq.fts |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Satbir Singh Mendiratta |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
35 Years |
|
Qualification : |
Under Graduate |
|
Experience : |
12 Years |
BUSINESS DETAILS
|
Line of Business : |
Traders and Exporter of Pharmaceutical Products |
|
|
|
|
Products : |
Injections, Capsules, Tablets, Suspension, Syrups, Ointmants, Anti
Cancer Formulations and Pharmaceutical Formulation |
|
|
|
|
Exports : |
|
|
Products : |
Injections, Capsules, Tablets, Suspension, Syrups, Ointmants, Anti Cancer
Formulations and Pharmaceutical Formulation |
|
Countries : |
Singapore, Myanmar |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash |
|
|
|
|
Purchasing : |
Cash / Credit |
GENERAL
INFORMATION
|
Suppliers : |
Wellco Pharma, Bhadurgarh, Haryana |
|
|
|
|
Customers : |
East Village, Singapore |
|
|
|
|
No. of Employees : |
8 |
|
|
|
|
Bankers : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Yogesh Kapoor and Associates Chartered Accountants |
|
Address : |
New Delhi – 110 055, India |
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Associates/Subsidiaries : |
S.D.Wool Agencies ( Pharma Division ) Started in : 2007 |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 4.505 millions |
|
Borrowed : |
--- |
|
Total : |
Rs. 4.505 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor’s Capital |
|
|
4.505 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
4.505 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.317 |
|
|
2] Unsecured Loans |
|
|
0.600 |
|
|
TOTAL BORROWING |
|
|
0.917 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5.422 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.394 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
|
|
|
Sundry Debtors |
|
|
|
|
|
Cash & Bank Balances |
|
|
11.163 |
|
|
Other Current Assets |
|
|
|
|
|
Loans & Advances |
|
|
|
|
Total
Current Assets |
|
|
11.163 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
|
|
|
Provisions |
|
|
7.135 |
|
Total
Current Liabilities |
|
|
7.135 |
|
|
Net Current Assets |
|
|
4.028 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5.422 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2007 |
|
|
Sales Turnover |
|
|
47.819 |
|
|
Other Income |
|
|
0.000 |
|
|
Total Income |
|
|
47.819 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
1.104 |
|
|
Provision for Taxation |
|
|
0.000 |
|
|
Profit/(Loss) After Tax |
|
|
1.104 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Purchases made for re-sale |
|
|
36.187 |
|
|
Salaries, Wages, Bonus, etc. |
|
|
2.170 |
|
|
Payment to Auditors |
|
|
0.025 |
|
|
Interest |
|
|
0.142 |
|
|
Insurance Expenses |
|
|
0.179 |
|
|
Depreciation & Amortization |
|
|
0.343 |
|
|
Other Expenditure |
|
|
8.013 |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2007 |
|
PAT / Total Income |
(%) |
|
|
2.31 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
2.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
8.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
1.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.56 |
LOCAL AGENCY
FURTHER INFORMATION
Concern Profile:-
Subject incepted in 1999, is a dynamic and reputed organization in the
health care business, engaged in exporting and supplying of high caliber pharmaceutical
generic drugs in the international market. With its competitiveness its growth
has been remarkable in this industry. With a motivative experience of years
they have succeeded through working on their strengths and converting their
passion into success.
Subject has made a mark in the field of
formulation of generic products in a very short time with the spirit to achieve
best quality standard in the international market. Organization through its associates
manufactures and markets pharmaceutical finished formulations maintaining
quality, which is in compliance with W.H.O standards. There by the organization
is aiming to become one of the fastest growing pharmaceutical export the
concern in India and is being successful in the attempt.
The founder and proprietor of subject, Mr.
Satbir Singh is dedicated and committed to technological perfection at all
levels. His foresight, innovative measures, leadership and flexibility have
made the concern emerge as one of the most reliable names in the cost effective
generic products with uncompromising quality norms.
Having its
administrative office in Delhi, India’s capital, subject offers the
advantages of proximity to a major port, easy access by air, road and rail and
a modern communication infrastructure to ensure constant customer contact
Objectives
The concern looks forward to become a global
pharmaceutical export the concern within next five years, by providing a range
of international quality products at competitive prices through integration,
research and development.
They ensure flawless production and
distribution of their products. Their emphasis lies on product quality and
timely execution of orders to satisfy their customers completely.
They focuses on generic marketing in across
the globe; entering high potential new market with value added product
offering. Their ultimate goal aim is to provide affordable, latest and high
quality finished formulation, which will benefit the end customer. Their main
customers are their partners involved in distribution of their products.
Their organization adapts easily to various
economic and market changes by keeping its technical know-how updated. In this
way their concern helps its customers increase their margins by offering
competitive prices of products with verifying quality and supplying them at
their desired prices.
Infrastructure
Subject gets its products manufactured by
reliable and experienced manufacturing companies, which have good infrastructure.
The manufacturing division’s basic strength lies in its capacity to get good
quality and cheaper raw materials and hence launch products of quality at
reasonable rates with an on the time delivery. The manufacturing units are well
equipped with technologically sophisticated machinery and high tech quality
control department under the strict norms of W.H.O standards
Customer Service and
Satisfaction
Customers are offered a high degree of
innovation, top quality and excellent service. They are very well informed
about the delivery schedules through an efficient communication system. A very
wide product and dosage variety helps subject to fill almost every customer
requirement in pharmaceutical industry. Huge production capacities ensure that
product availability at short notice and at competitive prices, enabling
subject to cater export requirements.
Quality Control
The manufacturing units comply with the G.M.Pc norms, laid by World
Health Organization. The stringent quality control department makes sure that
every product moves forward only after proper quality test and getting the
approval from the quality check experts. To ensure this, they have implanted
all necessary equipments of latest technology.
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 the concern 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 the concern’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.40.45 |
|
UK Pound |
1 |
Rs.82.70 |
|
Euro |
1 |
Rs.55.94 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/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 |
|