MIRA
INFORM REPORT
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Report Date : |
14.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
GOVIND LABORATORIES PRIVATE LIMITED |
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Registered Office : |
Plot No.37 and 41, Mahalaxmi Industrial Estate, Village Iyava, Sanand
– 382170, Gujarat |
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Country : |
India |
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Date of Incorporation : |
05.01.1998 |
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Com. Reg. No.: |
033516 |
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CIN No.: [Company
Identification No.] |
U24230GJ1998PTC033516 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMG00643G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Pharmaceuticals Raw materials. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. It is poor in Corporate Governance
since no financials are available. Its payments are slow but correct. Initially, the company can be considered for small to mediocre
business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Alkesh Modi |
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Designation : |
Director |
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Contact No.: |
91-9825258652 |
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Date : |
10.06.2008 |
LOCATIONS
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Registered Office/ Factory : |
Plot No.37 and 41, Mahalaxmi Industrial Estate, Village Iyava, Sanand
– 382170, Gujarat, India |
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Tel. No.: |
91-2717-284368/ 284468 |
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Fax No.: |
91-2717-284195 |
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Mobile No.: |
91-9825258652 |
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Area : |
3000 sq. yards |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Alkesh Govindlal Modi |
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Designation : |
Director |
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Address : |
Mata No Vas, Hingla Chachar, Patan (NG) – 384265, Gujarat, India |
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Date of Birth/Age : |
37 years |
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Qualification : |
BE Chemicals |
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Date of Appointment : |
05.01.1998 |
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Name : |
Mr. Govindlal Manilal Modi |
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Designation : |
Director |
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Address : |
Mata No Vas, Hingla Chachar, Patan (NG) – 384265, Gujarat, India |
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Date of Birth/Age : |
67 years |
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Qualification : |
SSC |
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Date of Appointment : |
05.01.1998 |
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Name : |
Mr. Jeshanglal Manilal Modi |
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Designation : |
Director |
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Address : |
Mata No Vas, Hingla Chachar, Patan (NG) – 384265, Gujarat, India |
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Date of Birth/Age : |
63 years |
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Qualification : |
SSC |
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Date of Appointment : |
05.01.1998 |
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Name : |
Mr. Vasantlal Manilal Modi |
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Designation : |
Director |
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Date of Birth/Age : |
49 years |
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Qualification : |
SSC |
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Name : |
Mrs. Kinnari Alkesh Kumar Modi |
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Designation : |
Director |
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Address : |
Mata No Vas, Hingla Chachar, Patan (NG) – 384265, Gujarat, India |
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Date of Birth/Age : |
31 years |
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Qualification : |
BE enciorments |
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Date of Appointment : |
05.01.1998 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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Percentage |
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Director or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Pharmaceuticals Raw materials. |
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Products : |
· Sodium Valproate · Valproic Acid · Divalproex Sodium · Magnesium Valproate · Phenyl Propanolamine Hcl · Phenylepherine Hcl, · Topiramate · Allyl Estrenol · Nandrolone Decanoate · Nandrolone Phenyl Propionate · Progesterone · Testosterone Decanoate · Testosterone Undecanoate · Testosterone Enanthate · Testosterone Iso-Caproate · Testosterone Propionate · Testosterone
Phenyl Propionate |
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Exports : |
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Products : |
Pharmaceuticals Raw materials. |
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Countries : |
· Latin America · Europe · Middle East · Africa |
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Imports : |
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Products : |
Raw materials |
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Countries : |
· China · Korea · Taiwan |
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Terms : |
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Selling : |
L/C and T/T |
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Purchasing : |
L/C (90 days) |
GENERAL
INFORMATION
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Customers : |
· Wholesalers · Retailers · End Users |
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No. of Employees : |
15 |
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Bankers : |
· HDFC Bank
Limited, Ahmedabad · Kalnpur
Commercial Co-op Bank Limited, Ahmedabad |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Parikh and Muzumdar and Company Chartered Accountant |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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98035 |
Equity Shares |
Rs.10/- each |
Rs.0.980
Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
No financials are available since incorporate
of the company.
Thus, the company can be regarded in poor in
Corporate Governance. Management parted partial business details except
financials.
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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30.000 |
25.000 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
· Cipla Limited, Mumbai
· Reliance Formulations
· Linciln Pharmaceuticals Limited
· Troikka Pharmaceuticals Limited, Ahmedabad
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.87 |
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UK Pound |
1 |
Rs.83.41 |
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Euro |
1 |
Rs.66.11 |
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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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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29 |
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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