MIRA
INFORM REPORT
|
Report Date : |
14.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
ANCHOR MARK PRIVATE LIMITED |
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Registered Office : |
9, Shanti Nagar Industrial Estate, Shanti Nagar, Vakola, Santacruz,
Mumbai-400055, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Year of Establishment : |
04.11.1986 |
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Com. Reg. No.: |
11-41477 |
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CIN No.: [Company
Identification No.] |
U15997MH1986PTC041477 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA21789F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of pharmaceutical and chemical machinery. |
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 61000 |
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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 well-established company having satisfactory track. Trade relations are fair. General financial position is satisfactory. Payments are correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions |
INFORMATION PARTED
BY
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Name : |
Mr. Suyankant |
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Designation : |
Accounts Department |
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Date : |
10.06.2008 |
LOCATIONS
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Registered Office : |
9, Shanti Nagar Industrial Estate, Shanti Nagar, Vakola, Santacruz,
Mumbai-400055, Maharashtra |
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E-Mail : |
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Corporate / Administrative Office : |
101-A, Kandivali Cooperative Industrial Estate Limited, Charkop, Kandivali (West), Mumbai-400067, Maharashtra, India. |
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Tel. No.: |
91-22-28682001/28690923 |
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Fax No.: |
91-22-28682250 |
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E-Mail : |
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Website : |
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Area : |
1400 sq.ft. (Owned) |
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Factory: |
Plot No. 43, Survey No. 66, Village Valiv, Vasai (East), District – Thane – 401208 |
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Tel. No.: |
91-250-2481123/2480775/2481993 Mumbai – 95250-2480775, 91-22-2481123 |
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Fax No.: |
91-250-2480860 Mumbai – 95250-2480860 |
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Factory : |
Located at Vasai |
DIRECTORS
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Name : |
Mr. Flarine D’souza |
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Designation : |
Director |
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Address : |
501 Seville, 3rd Domnic Lane, Orlem Malad (West), Mumbai-400064, Maharashtra , India |
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Date of Birth/Age : |
48 Years |
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Qualification : |
B. Com |
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Date of Appointment : |
04.11.1995 |
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Name : |
Mr. Gregary D’souza |
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Designation : |
Director |
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Address : |
501 Seville, 3rd Domnic Lane, Orlem Malad (West), Mumbai-400064, Maharashtra , India |
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Date of Birth/Age : |
54 Years |
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Qualification : |
B.Com |
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Date of Appointment : |
04.11.1995 |
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Name : |
Mr. Ninin Patil |
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Designation : |
Director |
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Address : |
Mulgaon Pondewadi, Vasai, Thane-401201, Maharashtra, India |
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Date of Birth/Age : |
42 Years |
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Qualification : |
M Tech |
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Date of Appointment : |
26.07.1996 |
KEY EXECUTIVES
|
Name : |
Mr. Suyankant |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
|
Names of Shareholders |
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No. of Shares |
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Gregory D’souza |
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21750 |
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Florine D’souza |
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7689 |
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Jonita D’souza |
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1001 |
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Glenn D’souza |
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1000 |
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Martha D’souza |
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1100 |
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Cecilia D’souza |
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1000 |
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Roywin D’souza |
|
250 |
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Joane D’souza |
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250 |
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Total |
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34040 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of pharmaceutical and chemical machinery. |
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Products : |
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Exports : |
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Products : |
Pharmaceuticals |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Against Delivery |
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Purchasing : |
Credit |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
60 |
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Bankers : |
Bank of Baroda, Santacruz (East), Mumabi-400055, Maharashtra, India Bank of Baroda, BFS Branch, Mathru Ashish Building, S.V. Road, Kandivali (West), Mumbai-400067, Maharashtra, India |
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Facilities : |
Rs. 10.000 |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
D G. Thakkar and Associates Chartered Accountant |
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Address : |
B-14, Shubhlaxmi, 2nd Floor, 8th
Road, Santacruz (East), Mumbai – 400055 |
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Tel. No.: |
91-22-26102890 |
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Mobile No.: |
91-22-26102890 |
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Fax No.: |
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E-Mail : |
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Name : |
MS. Nilam D. Salvi Chartered Accountant |
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Address : |
B/14, Shubhalaxmi, 8th Road, Santcruz (East),
Mumbai-400055, Maharashtra, India |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35000 |
Equity Shares |
Rs. 100/- each |
Rs. 3.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
34040 |
Equity Shares |
Rs. 100/-
each |
Rs. 3.404
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
3.404 |
3.404 |
3.404 |
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2] Share Application Money |
0.000 |
7.076 |
7.129 |
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3] Reserves & Surplus |
8.983 |
5.117 |
8.178 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
12.387 |
15.597 |
18.711 |
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LOAN FUNDS |
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1] Secured Loans |
6.922 |
8.235 |
10.349 |
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2] Unsecured Loans |
3.915 |
0.000 |
0.000 |
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TOTAL BORROWING |
10.837 |
8.235 |
10.349 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
23.224 |
23.832 |
29.060 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
12.808 |
12.822 |
9.856 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.005 |
0.005 |
0.005 |
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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 |
17.441
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15.385
|
17.654 |
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Sundry Debtors |
19.534
|
18.925
|
15.961 |
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Cash & Bank Balances |
11.552
|
2.334
|
5.800 |
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Other Current Assets |
0.124
|
0.089
|
0.093 |
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Loans & Advances |
14.271
|
4.290
|
3.433 |
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Total
Current Assets |
62.922
|
41.023
|
42.941 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
51.375
|
30.018
|
23.743 |
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Provisions |
1.136
|
0.000
|
0.000 |
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Total
Current Liabilities |
52.511
|
30.018
|
23.743 |
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Net Current Assets |
10.411
|
11.005
|
19.198 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.001 |
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TOTAL |
23.224 |
23.832 |
29.060 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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Other Income |
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Total Income |
123.966 |
91.222 |
65.045 |
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Profit/(Loss) Before Tax |
2.961 |
0.043 |
1.326 |
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Provision for Taxation |
0.000 |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
2.961 |
0.043 |
1.326 |
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Export Earning |
122.356 |
91.132 |
0.000 |
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Expenditures : |
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Interest |
0.147 |
91.179 |
63.719 |
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Depreciation & Amortization |
1.091 |
0.226 |
0.432 |
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Other Expenditure |
119.767 |
0.834 |
0.790 |
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Total Expenditure |
121.005 |
92.239 |
64.941 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
2.39
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0.05
|
2.04 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.39
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0.05
|
2.04 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.91
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0.08
|
2.51 |
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Return on Investment (ROI) (PBT/Networth) |
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0.24
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0.00
|
0.07 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.11
|
2.45
|
1.82 |
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Current Ratio (Current Asset/Current Liability) |
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1.19
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1.37
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1.81 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References :
- Biotech
Solution, Newzeland
- Archy
Pharmaceutical
Bankers Charges
Report as per Registry
|
Name of the company |
ANCHOR MARK PRIVATE LIMITED |
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Presented By |
Director – Mr. Gregory
D’souza |
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1) Date and description of instrument creating the change |
Instrument of
Hypothecation of Goods Dated 7th November, 1994 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 1.200
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 |
All Raw
Materials, M.S. Sheets, S.S. Sheets etc. and Semi-finished Goods and Finished
Goods. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest : 15.5%
plus Interest Tax Margin : 25% |
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5) Name and Address and description of the person entitled to the charge. |
Bank of Baroda,
Santacruz, (East), Mumbai-400055, Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
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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. |
Details of
Modification as per Annexure A By the present
Modification, the amount of Changes has been reduced to Rs. 7.500 Millions
and Equitable Mortgage has been continued to the following Properties :
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U15997MH1986PTC041477 |
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Name of the
company |
ANCHOR MARK PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
9, Shanti Nagar Industrial Estate, Shanti Nagar, Vakola, Santacruz,
Mumbai-400055, Maharashtra |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Bank of Baroda, BFS Branch, Mathru Ashish Building,
S.V.Road, Kandivali (West), Mumbai-400067, Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
Composite Hypothecation
Agreement Dated 26.11.2007 |
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Date of
instrument Creating the charge |
26.11.2007 |
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Amount secured by
the charge |
Rs. 10.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit 25%
below BPLR Minimum 13% p.a. Packing Credit Up
to 180 days 3.5% below BPLR minimum 9.75% p.a. FBP/FBD Up to 90
Days 3.5% Below BPLR minimum 9.75% p.a. Terms of Repayment On Demand Margin Stock 25%, Book
Debts 35%, Pc 25% |
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Short particulars
of the property charged |
Hypothecation of
All the stocks and Book Debts both present and future and all the tangible
movable machinery and plant and cranes. |
AS PER WEBSITE
Profile :
Subject was first established in the name of Anchor Mark in 1980 with
the objective of manufacturing and marketing and marketing machineries for the
pharmaceutical, food, beverage and cosmetic industry.
While the company initially stated with the manufacture of manual and
semi-automatic capsule filling machines, it has now grown into a full-fledged
manufacturing set-up with production lines at two different location in the
metropolis of Mumbai. Anchor Mark today has complete infrastructure to produce
equipment that are energy-efficient and reliable with high performance levels
while being compliant, at the same time, to cGMP (Current Good Manufacturing
Practice) and various regulatory requirements.
With advanced and innovative features, designed and customized to the
need of user, Anchor Mark’s comprehensive range of equipments caters today to
reputed names in the pharmaceutical, food, beverage and cosmetic industry.
The entire manufacturing process is MRP-driven (Material Resource
Planning) with controls at every stage ensuring proper integration and
monitoring of all procedures and systems with the organization. There is no
compromise on any aspect of quality or services linked to the final product.
Associate
Companies
Subject with its associate company Anchor Mark Pharma Technologies make
a strong presence in the pharmaceuticals industry. Anchor Mark Pharma
Technologies specialize in manufacturing manual, semi automatic, Fully
Automatic Liquid Filling Machines and Lines.
Prospects:
The introduction of a wide range of products with a focus on quality has
strengthened the company’s competitive position. Following the success of its
vast production base a deep understanding of the domestic market and a strong
distribution network, the company is confident of emerging successful over the
foreseeable future.
The company has survived the recession and continues to grow. Barring
unforeseen circumstances, the company expects to perform well during the current
financial year. The management plans to continue its efforts for improvement of
products and reduction in rejection rate. Besides these steps for reduction of
power consumption and efficient utilization of materials are constantly being
taken by the Technical Team of the company under the supervision and guidance
of the Directors of the company.
The management of the company is confident of maintaining its growth by
continued focus on quality and efficient management of Resources.
Fixed Assets:
A-Unit
Factory Building, Furniture And Fixture, Plant And Machinery, Electrical
Installation, Air-Conditioned, Typewriter, Motor Car, Motor Cycle, Weighing
Scale, Computer And Accessories, Fax Machines
B-Unit
Factory Building, Site Development, Plant And Machinery, Furniture And
Fixture, Attendance Time Recorder, Fax Machines, Electrical Installation, Typewriter, Xerox Machine, EPBAX, Water
Cooler, Motor Car, Air-Conditioned, Computer And Accessories, Portable Dehumidifier,
Pager, Bicycle, Motor Cycle, Weighing Scale, Scalier Stand
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.87 |
|
UK Pound |
1 |
Rs.83.41 |
|
Euro |
1 |
Rs.66.11 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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 |
|