MIRA
INFORM REPORT
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Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
VEE EXCEL DRUGS AND PHARMACEUTICALS PRIVATE LIMITED |
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Registered Office : |
G -16, 3RD Floor, Vikas Marg, Preet Vihar, New Delhi –
110092 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
13.03.2000 |
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Com. Reg. No.: |
104382 |
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CIN No.: [Company
Identification No.] |
U24239DL2000PTC104382 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELV03074B |
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Legal Form : |
Private limited Liability Company |
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Line of Business : |
Manufacturing and Formulation of various medicines likes Saving Drugs,
Medicine for AIDS, Cancer, Other Life Style and general medicines. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 90000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Mr. Anu Bansal, Director of the company denied business and financial
details. Subject is a well established company having satisfactory track. Trade
relations are fair. No payment records are available. The company can be considered for
normal business dealings at usual trade terms and conditions. |
INFORMATION
DECLINED BY
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Name : |
Mrs. Anu Bansal |
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Designation : |
Director |
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Date : |
16.07.2008 |
LOCATIONS
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Registered Office : |
G -16, 3RD Floor, Vikas Marg, Preet Vihar, New Delhi –
110092, India |
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E-Mail : |
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Website : |
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Head Office : |
2, Veer Sawarkar Block, triveni Complex Network Business Plaza, Shakar
Pur, Delhi |
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Corporate Office : |
703, Devika Tower, Chander Nagar, NCR – 201011, Uttar Pradesh, India |
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Tel. No.: |
91-120-3019191 / 3019190 / 2622036 |
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Fax No.: |
91-120-3019191 / 3019190 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Vipin Bansal |
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Designation : |
Director |
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Address : |
D – 145, Anand Vihar, Delhi |
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Date of Birth/Age : |
01.11.1968 |
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Date of Appointment : |
14.02.2004 |
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Name : |
Mrs. Anu Bansal |
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Designation : |
Director |
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Address : |
D – 145, Anand Vihar, Delhi |
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Date of Birth/Age : |
22.04.1975 |
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Date of Appointment : |
01.09.2001 |
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Name : |
Mr. Deepak Kakkar |
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Designation : |
Director |
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Address : |
5/374 – Sector – 5, Vaishali, Ghaziyabad, U.P. |
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Date of Birth/Age : |
06.07.1977 |
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Date of Appointment : |
01.07.2002 |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As On 31.03.2007
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Names of Shareholders |
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No. of Shares |
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Mr. Vipin Bensal |
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20450 |
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Mrs. Anu Bansal |
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9550 |
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Mr. R.S. Yadav |
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25000 |
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Total |
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55000 |
AS ON 31.03.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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54.55 |
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Other top fifty shareholders |
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45.45 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Formulation of various medicines likes Saving Drugs,
Medicine for AIDS, Cancer, Other Life Style and general medicines |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
30 |
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Bankers : |
Not
Available |
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Memberships : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- Each |
Rs.1.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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55000 |
Equity Shares |
Rs. 10/- Each |
Rs.0.550 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover (Estimated) |
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18.000 |
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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 |
0.550 |
0.550 |
0.550 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.160 |
3.655 |
3.551 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
4.710 |
4.205 |
4.101 |
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LOAN FUNDS |
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1] Secured Loans |
0.946 |
0.028 |
0.137 |
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2] Unsecured Loans |
0.450 |
0.450 |
0.450 |
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TOTAL BORROWING |
1.396 |
0.478 |
0.587 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.045 |
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TOTAL |
6.106 |
4.684 |
4.733 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.908 |
2.381 |
2.514 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.074 |
0.035 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
5.076
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5.659 |
2.985 |
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Sundry Debtors |
2.688
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0.436 |
3.512 |
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Cash & Bank Balances |
0.536
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2.807 |
1.745 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
1.049
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1.909 |
0.838 |
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Total
Current Assets |
9.349
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10.811 |
9.080 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
7.667
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8.264 |
6.794 |
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Provisions |
0.560
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0.281 |
0.067 |
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Total
Current Liabilities |
8.227
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8.545 |
6.861 |
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Net Current Assets |
1.123
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2.267 |
2.219 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.106 |
4.684 |
4.733 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.04
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2.14 |
1.81 |
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Current Ratio (Current Asset/Current Liability) |
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1.13
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1.26 |
1.32 |
LOCAL AGENCY
FURTHER INFORMATION
The registered office was shifted from A –
115, Shakarpur, Vikas Marg, Delhi to Network Business Center, 2 Veer Sawarkar
Block, 2nd Floor, Triveni Complex, I.P. Electrician, Delhi with
effect from 31.06.2000 (dated).
Web Details Attached
Subject is one of the widely acclaimed
Pharmaceutical company engaged in manufacturing and formulation, having
facilities in India and Central America for various medicines like Life Saving
Drugs, medicine for AIDS, Cancer, Other Life Style & General
Medicines. The company also has a dedicated Division for Herbal/Naturals and
Nutraceuticals in collaboration with one of the Leading University in India on
the subject. Since its inception, the company has progressed in leaps and
bounds with its quality products coupled with satisfied customers service.
Subject.
Management Profile
Subject acknowledges the fact that apart
from its world-class infrastructure and state-of-the-art technology, the most
valuable resource is its human asset. It is the dedication and collaboration of
its people that has helped Subject transform its dreams and ambitions into
realities and achievements.
The Subject family comprises of professionals handpicked from
different faculties handling an array of diverse operations ranging from
R&D, process development, production and quality maintenance to effluent
treatment, utilities, maintenance, safety, health & environment.
Similarly, experienced professionals steer crucial operational domains like
marketing, accounts & finance and human resources together with engineering
and other operational areas.
The core management team responsible for formulating the company's growth
strategies comprises of innovative, entrepreneurial, and collaborative senior
management members led by the Founder and Managing Director and are responsible
for building Subject from a blue print project to its current global leadership
position.
Collectively, Subject team has built the company into a highly respectable and
admired player in the global Pharmaceutical industry.
Subject and Pharmaceutical’s Exports
Department take care of the sale and distribution of the company rang of
products to a diverse number of markets in the Asia-Pacific Region, the middle
East, The Indian Ocean Region,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.17 |
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UK Pound |
1 |
Rs.86.46 |
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Euro |
1 |
Rs.68.68 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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