MIRA
INFORM REPORT
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Report Date : |
13.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
PULSE PHARMACEUTICALS PRIVATE LIMITED |
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Registered Office : |
4F9, 5th Floor, Ballard Estate, Tarnaka, Secunderabad – 500017,
Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.01.1997 |
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Com. Reg. No.: |
01-26151 |
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CIN No.: [Company
Identification No.] |
U24239AP1997PTC026151 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDP0966A |
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PAN No.: [Permanent
Account No.] |
AACCP7815R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and Marketing of Pharmaceuticals Formulations |
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 137000 |
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Status : |
Satisfactory |
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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 meeting its local
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. S. Ramesh Kumar |
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Designation : |
Manager |
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Date : |
12.06.2008 |
LOCATIONS
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Registered Office : |
4F9, 5th Floor, Ballard Estate, Tarnaka, Secunderabad –
500017, Andhra Pradesh, India |
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Tel. No.: |
91-40-27007049/ 55453101/ 27014541 |
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Fax No.: |
91-40-27014274 |
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E-Mail : |
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Website : |
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Area : |
1350 sq. ft. |
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Location : |
Rented |
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Factory : |
Survey No.400/4007/4009, Opp Roorkee Pharma Collage, Kharonde,
Roorkee, Uttaranchal, India |
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R and D Office: |
Capricorn, House No.:12-13-483/A, Street No.:14, Lane No.:4, Nagarjuna
Nagar, Tarnaka, Secunderabad – 500017, Andhra Pradesh, India |
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Tel No.: |
91-40-55453102 |
DIRECTORS
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Name : |
Mr. Raambabu Venkata Katragadda |
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Designation : |
Managing Director |
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Address : |
206, Divya Enclave, Vijayapuri, Taranaka, Secunderabad – 500017,
Andhra Pradesh, India |
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Date of Birth/Age : |
07.01.1965 |
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Qualification : |
M. Com |
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Date of Appointment : |
09.01.1997 |
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Name : |
Mrs. Radhika Katragadda |
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Designation : |
Director |
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Address : |
206, Divya Enclave, Vijayapuri, Taranaka, Secunderabad – 500017,
Andhra Pradesh, India |
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Date of Birth/Age : |
23.08.1971 |
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Qualification : |
B. Com |
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Date of Appointment : |
15.03.2000 |
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Name : |
Mr. Suresh Babu Katragadda |
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Designation : |
Director |
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Address : |
No.3-13-112/E/2, Sri Nivasapuram Colony, Ramanthapur, Hyderabad,
Andhra Pradesh, India |
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Date of Birth/Age : |
10.06.1971 |
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Qualification : |
B. Sc. |
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Date of Appointment : |
24.02.2004 |
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Name : |
Mr. Devraj Rambhau |
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Designation : |
Director |
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Address : |
H No.2 – 330, SBA Colony, P O Vidyaranyapur, Warangal – 506009, Andhra
Pradesh, India |
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Date of Birth/Age : |
05.10.1945 |
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Date of Appointment : |
10.02.2004 |
KEY EXECUTIVES
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Name : |
Mr. Lalit Mohan Chandna |
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Designation : |
Company Secretary |
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Address : |
3-41-61, Plot No.3/6, Ramdas Gardens, Lane Adj to Police Station, West
Marredpally, Secunderabad – 500026, India |
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Tel No.: |
91-40-66209325 |
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Fax No.: |
91-40-66337170 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. Raambabu Venkata Katragadda |
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914500 |
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Mrs. Radhika Katragadda |
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336000 |
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Mr. Suresh Babu Katragadda |
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1000 |
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Mr. Srinivasa Rao |
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1000 |
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Mrs. Aparna Verma |
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50000 |
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Total |
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1302500 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Marketing of Pharmaceuticals Formulations |
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Products : |
· Antidiabetics and diabetic adjuvants
· Antihomocysteine formulations
· Harmones |
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Exports : |
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Countries : |
Sri Lanka |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
65 (Office – 40 and Factory – 25) |
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Bankers : |
· Axis Bank · Punjab National
Bank Ram Nagar, Roorkee – 247667, Uttaranchal, India |
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Facilities : |
CC – Rs.30.000 Millions From Axis Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ramu and Ravi Chartered Accountant |
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Address : |
814, Raghava Ratna Towers, Chirag Ali Lane, Abids, Hyderabad – 500001,
India |
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Tel No.: |
91-40-23204877/ 23204498 |
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Fax No.: |
91-40-23205653 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1352500 |
Equity Shares |
Rs.10/- each |
Rs.13.525
Millions |
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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 |
13.525 |
12.705 |
4.850 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
13.899 |
7.781 |
7.011 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
27.424 |
20.486 |
11.861 |
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LOAN FUNDS |
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1] Secured Loans |
31.049 |
9.550 |
10.368 |
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2] Unsecured Loans |
12.302 |
2.764 |
0.300 |
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TOTAL BORROWING |
43.351 |
12.314 |
10.668 |
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DEFERRED TAX LIABILITIES |
0.670 |
0.369 |
0.374 |
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TOTAL |
71.445 |
33.169 |
22.903 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
22.719 |
6.993 |
10.160 |
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Capital work-in-progress |
20.028 |
2.031 |
0.446 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
9.321
|
5.353 |
7.108 |
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Sundry Debtors |
25.063
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26.997 |
20.996 |
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Cash & Bank Balances |
2.787
|
2.148 |
1.241 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
27.298
|
8.993 |
2.495 |
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Total
Current Assets |
64.469
|
43.491 |
31.840 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
33.924
|
18.294 |
18.214 |
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Provisions |
1.847
|
1.065 |
1.356 |
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Total
Current Liabilities |
35.771
|
19.359 |
19.570 |
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Net Current Assets |
28.698
|
24.132 |
12.270 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.013 |
0.027 |
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TOTAL |
71.445 |
33.169 |
22.903 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover (Including Other Income) |
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123.574 |
91.252 |
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Total Income |
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123.574 |
91.252 |
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Profit/(Loss) Before Tax |
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3.593 |
1.676 |
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Provision for Taxation |
|
1.976 |
0.905 |
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Profit/(Loss) After Tax |
|
1.617 |
6.747 |
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Expenditures : |
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Depreciation & Amortization |
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0.700 |
0.619 |
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Other Expenditure |
|
119.281 |
88.957 |
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Total Expenditure |
|
119.981 |
89.576 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.301
|
7.39 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
2.91
|
1.84 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.12
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3.32 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.13
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0.08 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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2.88
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1.55 |
2.56 |
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Current Ratio (Current Asset/Current Liability) |
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1.80
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2.25 |
1.63 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
· Vance Healthcare – Rorkee (Major)
· ABL Technology
Form 8:
|
Corporate identity
number (CIN) Foreign company registration number |
U24239AP1997PTC026151 |
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Name of the
Company |
PULSE PHARMACEUTICALS PRIVATE LIMITED |
|
Address |
4F9, 5th Floor, Ballard Estate, Tarnaka, Secunderabad –
500017, Andhra Pradesh, India |
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This form is for |
Modification of Charge |
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Type of Charge |
Immovable
Property Book Debts Movable Property
(Not being pledge) |
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Particulars of
the charge holder |
Punjab National
Bank Ram Nagar,
Roorkee – 247667, Uttaranchal, India |
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Nature or
description of the instrument(s) creating or modifying the charge |
Letter of
Clearance of Punjab National Bank, Ram Nagar, Roorkee for closure of CC Limit |
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Date of the instrument
creating or modifying the charge |
18.02.2008 |
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Amount secured by
the charge |
Rs.30.000
Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of
Interests: CC Limits :
12.255 Terms of
Repayment: Yearly Renewal Margin: Stocks: 25% Book Debts: 40% Extent and
Operation of the Charge: Extent of Charge
is full and restricted to plant and Machinery, Building and Other Fixed
Assets Located at Roorkee. |
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Short particulars
of the property charged (including location of the property) |
CC Limits: Book
Debts and Stocks of Roorkee |
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Particular of the
present modification |
Amount of Charge
Secured Reduced to Rs.30.000 Millions from Rs.40.000 Millions |
Profile:
Pulse Pharmaceuticals was founded in 1997 by Mr. K.V. Raambabu, a visionary with philosophical outlook. Since its inception, Pulse Pharmaceuticals has a singular focus of marketing innovative products and novel therapeutic concepts. This singular focus has allowed the company to build its reputation as “innovative company”.
The company launched unique pharmaceutical products and novel therapeutic concepts for the treatment and management of diabetes and its associated problems like neurovascular and cardiovascular complications.
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.42.81 |
|
UK Pound |
1 |
Rs.83.75 |
|
Euro |
1 |
Rs.66.10 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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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. |
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 |
|