MIRA
INFORM REPORT
|
Report Date : |
30.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
G AMPHRAY LABORATORIES |
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Registered Office : |
Sambhowa
Chambers, 4th Floor, Sir P. M. Road, Fort, Mumbai – 400001, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1966 |
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Legal Form : |
Sole Proprietory
Concern |
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Line of Business : |
Manufacturer and Exporter
of Drugs and Formulations such as Paracetamol Tablets, Cotrimoxazole Tablets,
Metronidazole Tablets, etc., Drug Intermediates and Packing Materials for
Pharmaceuticals. |
RATING &
COMMENTS
|
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 1000000 |
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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 concern of Mr. Ramu S. Deora, an eminent businessman and
brother of Mr. Murli Deora (Ex-member of parliament). Deora family is
influential and well connected with high level bureaucrats in the country.
They have a strong rapport with foreign pharmaceutical companies in India.
Their trade relations are fair. Payments are usually correct and as per
commitments. It can be
considered good for any normal business dealings at usual trade terms and
conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Rajiv S. Deora |
|
Designation : |
Proprieto |
|
Date : |
28.06.2008 |
LOCATIONS
|
Registered
Office : |
Sambava
Chambers, 4th Floor, Sir P.M. Road, Fort, Mumbai - 400 001, India |
|
Tel. No.: |
91-22-2266 1034/
22663316/ 66317748/ 49/ 56317750/ 40828100 |
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Mobile No.: |
91-98200 84212/ 9820911009 |
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Fax No.: |
91-22-2202 4657/
2282 8181/ 66317747 |
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E-Mail : |
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Website : |
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Area : |
2000 sq. fts |
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Location : |
Owned, Commercial |
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Warehouse : |
43/2, Narpoli,
Amina Compound, Near Dhamankar Naka, Bhiwandi - 421 302, District Thane,
Maharashtra |
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Area : |
28000 sq. fts |
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Location : |
Owned |
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Factory : |
10-2, MIDC Industrial
Area, Ambernath – 421 501, District Thane |
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Tel. No.: |
91-251-268219 /
12 / 2682711 |
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Area : |
20000 sq. fts |
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Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Ramu S. Deora |
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Designation : |
Proprietor |
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Date of Birth/Age
: |
68 Years |
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Other
Directorship : |
Chairman of Chemexcil, Ex-President Federation of India, Export
Organisations, and Commodity Board |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter
of Drugs and Formulations such as Paracetamol Tablets, Cotrimoxazole Tablets,
Metronidazole Tablets, etc., Drug Intermediates and Packing Materials for
Pharmaceuticals. |
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|
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Products : |
v
Sodium
Citrate v
Sulphamethoxazole v
Trimethoprim v
Diethyl
Carbamazine Citrate v
Potassium
Iodide v
Clioquinol v
Piperazine
Citrate v
Isonaizid v
Director-Iodohydroxy
Quinoline v
Piperazine
Adipate v
Chloramphenicol v
Niacinamide v
Phthalysulphathiazole v
Potassium
Citrate v
Iodochlorohydroxyquinoline
IP v
IP Sodium
Bromide IP v
Busmuth Subnitrate
BPC v
Biodohydroxyquinoline
IP v
Bismuth
Subcarbonate BPC v
Disodium
Hydrogen Citrate v
PB Ferric
Ammonium Citrate IP v
Potassium
Bromide IP v
Sodium
Citrate v
Thiaceta
Zone BPC Paracetamol IP |
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Brand Names : |
G. Amphray |
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Exports : |
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Countries : |
v
France v
Germany v
Hong Kong v
Nigeria v
Zaire v
Sri Lanka v
Korea v Singapore |
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Imports : |
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Countries : |
v
Germany v
Japan v
Korea v
Belgium v
Holland v
France |
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Terms : |
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Selling : |
Contract (30
days), Cash and L/C |
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Purchasing : |
Contract (30
days), Cash and L/C |
GENERAL
INFORMATION
|
Suppliers : |
v Korea Potosium Chemicals, Korea v Hoechst Celanese Corporation, Germany v Kauffmann and Company, Germany v Eastman Chemicals Limited, USA v Chugai Boyelli Company Limited, Japan v Independent Iodine Company, Japan v Mitsui Unit, Korea v Sunve, China v BAST, Dow |
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Customers : |
v Manufacturers v Wholesalers v Retailers v Clans Huth GmbH, Germany v CLE Dist. International., France v Preminco Limited, Hong Kong v Tong Yang Nylon Company Limited, Korea v Asia Drug and Chemicals Limited, Singapore
/ Thailand v Pfizer Limited, India v IPCA Lab. Limited, India v American Pharmaceuticals, U.S.A. v Mallincord Inc., U.S. A. v MPI Pharmaceuticals Gmbh, Germany v U Kraine Pharmaceuticals, Mosion v Dalho Chemicals, Gmbh, Germany |
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No. of Employees : |
100 |
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Bankers : |
v State Bank of India, Overseas Branch, World Trade Centre, Cuffe Parade, Mumbai – 400005, Maharashtra, India v
Dresdnev
Bank, Humburg, Germany |
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Facilities : |
The concern
enjoys credit limit of Rs.200.000 Millions and Bank Loans Rs.20.000 Millions
from its bankers. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M. L. Bhuwania
and Company (Chartered Accountant) |
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Address : |
480, Kalbadevi
Road, Mumbai – 400 002, Maharashtra, India |
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Associates/Subsidiaries : |
v Triochem Products Limited Line of Business: Manufacture
Fine Chemicals and Formulations Annual Turnover
Rs.145.00 millions (approximate) |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.200.000
Millions |
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Borrowed : |
0.000 |
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Total : |
Rs.200.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
800.000 |
750.000 |
750.000 |
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ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2001 |
31.03.2000 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
193.966 |
248.675 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.000 |
0.000 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
193.966 |
248.675 |
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LOAN FUNDS |
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1] Secured Loans |
|
27.247 |
5.940 |
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2] Unsecured Loans |
|
1.620 |
1.620 |
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TOTAL BORROWING |
|
28.867 |
7.560 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
222.833 |
256.235 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
4.635 |
4.789 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
98.264 |
43.812 |
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Sundry Debtors |
|
72.137 |
29.363 |
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Cash & Bank Balances |
|
30.232 |
176.630 |
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Other Current Assets |
|
14.488 |
6.189 |
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Loans & Advances |
|
6.076 |
6.657 |
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Total
Current Assets |
|
221.197 |
262.651 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
|
2.999 |
11.205 |
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Provisions |
|
0.000 |
0.000 |
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Total
Current Liabilities |
|
2.999 |
11.205 |
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Net Current Assets |
|
218.198 |
251.446 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
|
222.833 |
256.235 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2001 |
31.03.2000 |
|
Sales Turnover [including
other income] |
|
245.804 |
164.804 |
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Total Income |
|
245.804 |
164.804 |
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Profit/(Loss) Before Tax |
|
47.744 |
40.841 |
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Provision for Taxation |
|
0.000 |
0.000 |
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Profit/(Loss) After Tax |
|
47.744 |
40.841 |
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Total Expenditure |
|
199.012 |
102.171 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2001 |
31.03.2000 |
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PAT / Total Income |
(%) |
|
19.42 |
24.78 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
19.42 |
24.78 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
21.14 |
15.27 |
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Return on Investment (ROI) (PBT/Networth) |
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|
0.24 |
0.16 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.16 |
0.07 |
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Current Ratio (Current Asset/Current Liability) |
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|
73.75 |
23.44 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY:
Subject was established
in 1966 by setting up a modest multipurpose bulk pharmaceuticals factory at
Bhiwandi near Mumbai. In 1979, it set
up Unit No. 2, a speciality plant to manufacture Paracetamol at Ambernath near
Mumbai. In 1982, Unit No. 3, a Tablet
manufacturing facility was set up at Ambernath. In 1984, it set up Unit No. 4, a multipurpose plant at Ambernath
to manufacture various bulk pharmaceuticals.
Subject is the
first concern from India to have started warehousing facility and office in
Hamburg, Germany.
BUSINESS:
Subject is engaged
in manufacturing and exporting of drugs and formulations such as paracetamol
tablets, cotrimoxazole tablets, metronidazole tablets, etc., drug intermediates
and packing materials for pharmaceuticals.
Pharmaceutical products
INCLUDE:
|
Anti Viral Drugs |
Acyclovir,
Ganciclovir, Lamivudine, Zuduvidine |
|
Osteophorosis |
Alendronate
Sodium, Lamotrigine |
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Diuretic |
Allopurinol |
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Anxiety |
Alprazolam |
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Cardiovascular |
Amilopine, Diltiazem,
Dobutamine, Doxizocin, Enalapril, Lisinopril, Losartan Potassium, Methyl
Dopa, Ramipril, Sodium Valporate, Tramadol, Trimetazidine |
|
Anti-Allergy |
Astimizole,
Ceterizine, Dextromethorphan, Loratindine |
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Anti-Bacterial |
Azithromycin, Cefaclor,
Clarithromycin, Roxithromycin |
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Laxative |
Biscodyl |
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Anti-Inflammatory |
Celecoxib,
Refocoxib |
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Anti-Emetic |
Cinneraxine,
Domperidone, Ondansetron |
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Opthalmic |
Dipivefrine |
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Steroid |
Finasteride |
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Anti-Depressant |
Fluxoxitine, Paroxetine,
Seritraline |
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Anti-Cholesterol |
Fluvastatin,
Lovastatin, Simvastatin |
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Anti-Aids |
Indianavir |
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Anti-Agina |
Iperiflavone |
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Anti-Fungal |
Fluconazole,
Itraconazole, Ketoconazole, Miconazole, Terbinafine |
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Analgesic |
Nebumetone |
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Psychotic |
Olanzapine |
|
Vetenary |
Oxyclozadine |
|
Anti-Ulcer |
Lanspprozole
8.5%, Omerprazole 8.5%, Penteprazole, Rabiiprazole |
|
Anti-Psychotic |
Risperidone |
|
Anti-Asthmatic |
Salbutamol |
|
Potency |
Sildanafil
Citrate |
|
Anti-Migraine |
Sumatriptan |
MEMBERSHIPS
v Basic Chemicals, Pharmaceuticals and
Cosmetics Export Promotion Council
v Bulk Drug Manufacturers Association
v Dyestuffs Manufacturers’ Association of
India
v Federation of Indian Chamber of Commerce and
Industry
In the year 1966, Ramu S. Deora, a gifted and hardworking man set out to establish subject with a lofty aim to spread the light of hope and dispel the darkness of disease by contributing to the indigenous development of "Bulk Drug" and "Drug Intermediates" vital for the well-being of humanity at home and the world over.
"Amphray" (affectionately known by its clients) ventured into the export market at a time when Indian Made Products elicited little response from International buyers. By undaunted perseverance and utmost confidence in the quality of its products, "Amphray" slowly but surely established its name in the International market.
Subject has become a force to reckon with in the world of the Pharmaceutical Industry, equipped with sophisticated plant and machinery and utilizing the latest processing techniques. Their product range has expanded and they are currently dealing in over 100 products that are used in different industries from Food Additives and Colours to Laxatives and Chemicals for Cosmetic Industry. They are also providing many vital life saving drugs such as Anti Ulcers, Anti Hypertensive, Anti Diabetic, Anti Aids, Anti TB etc.
Subject was
established in 1966 by setting up a modest multipurpose Bulk Drugs
Pharmaceutical Factory at Bhiwandi near Mumbai. In 1979 the Second Unit was
started at Ambernath to manufacture Pharmaceutical bulk Drugs and the Third
Unit to manufacture Paracetamol Bulk Drugs and Formulations started in 1982 at
Ambernath.
They have Drug Master
File No. 5910 of FDA, United States of America for Acetaminophen USP (to be
renewed). Similarly for Paracetamol BP from the Netherlands DMF No. 1028, New
Zealand DMF No. TT60-243-13-1, Taiwan DMF No. 020868. Certificate of
Suitability, Registration No. CEP-96-56 for the European Community, Besides
this, they are also applying for DMF in Italy. Their Plant is approved by the
FDA for Good Manufacturing Practices (GMP) in line with WHO Guidelines.
They are buying
several raw materials for their finished Bulk Drug Unit;
All these products
conform to BP / USP / FCC specifications as may be required by the customers
and can be offered in different particle sizes and bulk density as per
customer's requirements. They are also specialized in Paracetamol Tablets,
Cotrimoxazole Tablets or any other tablets as per customer's requirements.
Mr. RAMU S. DEORA,
who is the Chairman of this Unit is an acknowledged Leader on the Export Front
and has had several responsibilities entrusted to him by the business community
and Government of India. Mr. Ramu S. Deora was the President of FIEO
(FEDERATION OF INDIAN EXPORT ORGANISATIONS) in the past from 1987-91 and now
from 1996-98 and the Chairman of CHEMEXCIL (Basic Chemicals, Pharmaceuticals
& Cosmetics Export Promotion Council) in 1987-91 and now from 1996 onwards
again till 2000. He was the Trustee of MUMBAI PORT TRUST, Director of ECGC
(Export Credit Guarantee Corporation of India Ltd.) and Chairman of AISC (All
India Shipper's Council) India, Member of the Committee of FICCI (Federation of
Indian Chambers of Commerce and Industry) and Member of Board of Trade -
Ministry of Commerce etc.
After Office Hours
at Residence
Res. Tel: 91-22-23631080 / 23631081
Fax: 91-22-23677772
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.42.54 |
|
UK Pound |
1 |
Rs.84.86 |
|
Euro |
1 |
Rs.66.95 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 |
|