MIRA
INFORM REPORT
|
Report Date : |
14.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SAVIOUR CAPS PRIVATE LIMITED |
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Registered Office : |
M-1, Plot No-9 and 10, Gurukripa
Complex, MP Nagar, Zone-1, Bhopal - 462 011, Madhya Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
18.05.2005 |
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Com. Reg. No.: |
10-17613 |
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CIN No.: [Company
Identification No.] |
U02423MP2005PTC017613 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BPLS07371A |
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PAN No.: [Permanent
Account No.] |
AAJCS2707C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and
exporters of empty capsules, empty gelatin capsules, hard empty gelatin
capsules, transparent capsule shells and color capsule shells available in
various sizes colors, prints and sizes. |
RATING &
COMMENTS
|
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/normal. |
Small |
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Maximum Credit Limit : |
USD 49000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Financial position of the company is moderate having some losses
incurred. As such, the scale of operation is low. It’s payments are reported as slow. The company can be considered for small business dealings on safe and
secured trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Omprakash |
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Designation : |
Account Assistant |
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Date : |
12.06.2008 |
LOCATIONS
|
Registered Office / Factory : |
M-1, Plot No-9 and 10, Gurukripa Complex, MP Nagar,
Zone-1, Bhopal - 462 011, Madhya Pradesh, India |
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Tel. No.: |
91-755-4271798 / 2557781 |
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Mobile No.: |
91-9893048212 |
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Fax No.: |
91-755-2557781 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. Ajay Agarwal |
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Designation : |
Managing Director |
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Address : |
Raisen Road, Bhopal – 462021, Madhya Pradesh, India |
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Date of Birth/Age : |
01.05.1966 |
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Date of Appointment : |
18.05.2005 |
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Name : |
Dr. Saket Rup Ramka |
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Designation : |
Director |
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Address : |
Second Floor, F – 58, Green Park Main, New Delhi – 110016, India |
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Date of Appointment : |
06.01.2006 |
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Name : |
Mrs. Sangeeta Agarwal |
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Designation : |
Director |
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Address : |
Raisen Road, Bhopal – 462021, Madhya Pradesh, India |
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Date of Appointment : |
18.05.2005 |
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Name : |
Mr. Basant Kumar Rupramka |
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Designation : |
Director |
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Address : |
17-A, Janki Nagar, Chuna Bhatti, Bhopal – 462016, Madhya Pradesh,
India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 31.03.2007
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Ajay Agarwal |
|
25000 |
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Mrs. Sangita Agarwal |
|
25000 |
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Dr. Saket Rup Ramka |
|
50000 |
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Total |
|
100000 |
AS ON 29.09.2007
|
Category |
|
Percentage of
Holding |
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Directors or relatives of directors |
|
100.00 % |
AS ON 31.03.2008
|
Names of Allotees |
|
No. of Shares |
|
Mr. Ajay Agarwal |
|
450000 |
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Mrs. Sangita Agarwal |
|
450000 |
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Total |
|
900000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and
exporters of empty capsules, empty gelatin capsules, hard empty gelatin
capsules, transparent capsule shells and color capsule shells available in various
sizes colors, prints and sizes. |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL
INFORMATION
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No. of Employees : |
30 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Naresh Rajani and Company Chartered Accountants |
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Address : |
MIG-1/5 Amber Complex, First Floor, Zone –II, M. P. Nagar, Bhopal –
462011, Madhya Pradesh, India |
CAPITAL STRUCTURE
AS ON 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs. 10/- each |
Rs. 15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
1.000 |
1.000 |
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2] Share Application Money |
|
12.600 |
0.000 |
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3] Reserves & Surplus |
|
0.000 |
0.000 |
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4] (Accumulated Losses) |
|
[1.465] |
0.000 |
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NETWORTH |
|
12.135 |
1.000 |
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LOAN FUNDS |
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1] Secured Loans |
|
48.008 |
17.727 |
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2] Unsecured Loans |
|
2.676 |
8.200 |
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TOTAL BORROWING |
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50.684 |
25.927 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
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62.819 |
26.927 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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50.657 |
9.401 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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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 |
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3.689 |
0.000 |
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Sundry Debtors |
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8.240 |
0.000 |
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Cash & Bank Balances |
|
0.030 |
2.122 |
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Other Current Assets |
|
0.749 |
0.000 |
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Loans & Advances |
|
0.470 |
16.145 |
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Total
Current Assets |
|
13.178 |
18.267 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
|
6.834 |
0.768 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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6.834 |
0.768 |
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Net Current Assets |
|
6.344 |
17.499 |
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MISCELLANEOUS EXPENSES |
|
5.818 |
0.027 |
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TOTAL |
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62.819 |
26.927 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2007 |
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Sales Turnover |
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|
19.073 |
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Total Income |
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|
19.073 |
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Profit/(Loss) Before Tax |
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|
[1.424] |
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Provision for Taxation |
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|
0.041 |
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Profit/(Loss) After Tax |
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[1.465] |
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Total Expenditure |
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20.497 |
KEY RATIOS
|
PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
|
[7.68] |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
|
[7.47] |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
[2.23] |
-- |
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Return on Investment (ROI) (PBT/Networth) |
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[0.12] |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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4.74 |
26.70 |
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Current Ratio (Current Asset/Current Liability) |
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|
1.93 |
23.79 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
SAVIOUR CAPS
PRIVATE LIMITED |
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Presented By |
Mr. Ajay
Agarwal, Director |
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1) Date and description of instrument creating the change |
Term Loan
Agreement, dated 01.12.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 40.000
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 |
Equitable Mortgage
of land and building, plant and machinery, electric installation of the unit
situated at plot no. 55, Industrial area No. 11, Mandideep, District Raisen
having value of Rs. 53.643 Millions |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Repayable in
first sex quarterly installments by Rs. 1.500 Millions, Next four quarterly
installments of Rs. 7.000 Millions each Next 12 quarterly installments of Rs.
2.000 Millions each. Interest @ BPLR +
0.5 % term premia 0.5 % i.e. at present 10.75 % p.a. |
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5) Name and Address and description of the person entitled to the charge. |
Punjab National Bank New Market, Bhopal, Madhya Pradesh, India |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
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This form is for |
Creation of
Charge |
|
Corporate identity
number of the company |
U02423MP2005PTC017613 |
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Name of the
company |
SAVIOUR CAPS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
M-1, Plot No-9 and 10, Gurukripa
Complex, MP Nagar, Zone-1, Bhopal - 462 011, Madhya Pradesh |
|
Type of charge |
Others |
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Particular of
charge holder |
Punjab National Bank New Market, Bhopal - 462003, Madhya Pradesh, India |
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Nature of
description of the instrument creating or modifying the charge |
Letter of
Hypothecation |
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Date of
instrument Creating the charge |
27.12.2006 |
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Amount secured by
the charge |
Rs. 1.100
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of
Interest : 11 % Terms of
Repayment : to be repayable in 60 Equal Monthly Installments Margin : 15 % Extent and
Operation of the charge : Hypothecation of Vehicle |
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Short particulars
of the property charged |
Hypothecation of
Vehicles [SKODA Car No. MP04CA4069] |
AS PER WEBSITE
Subject is a system engineering specialist of capsule industry, splendidly engaged in manufacture, export and supply of perfectly shaped and accurately formulated superior quality Empty Hard Gelatin Capsule Shells.
Adequately equipped with modern machines, their state-of-the-art factory encompasses world class production facilities and laboratories that meet the exacting needs and up-to-the minute specifications of the clients. Monitoring the in-processing and finished quality of the capsules, they are committed to offer best quality products at vendable prices. Apart from this, to schedule deliveries on time, they greatly emphasize on efficient networking and logistic support.
Profile
Grounded on the principles of quality, Subject has pioneered itself as an industry leader, specializing in manufacture, export and supply of Hard Gelatin Capsule Shells that are available in different sizes as desired.
Situated in the capital of the state, Madhya Pradesh (India), their factory at
Bhopal is centrally located. This empowers their clients, spread across India
and abroad to easily co-ordinate with their workforce.
With well equipped manufacturing unit & a dedicated team of personnels,
they strive to satisfy the Pharmaceutical needs of the industry by
manufacturing capsule shells as per customers needs conforming to various
Standards.
Each of their product is conceived to target client's ethics & comply with
quality specifications, codes of practice and statutory requisites. All this
has collectively contributed to achieve a remarkable recognition in the
pharmaceutical arena all across the globe.
Designed and manufactured under the adept team and
state-of-the-art manufacturing set up, they offer their clients a complete and
an exclusive range of precision engineered hard capsules that are extensively
used in pharmaceutical industries. Catering to the demands of their clients, they
extend an acclaimed array of : 
Manufactured using hi-tech modern machines and innovative technology, they offer
their clients a superior range of Hard Gelatin Capsule Shells. Ranging from 'O' to '2', empty hard gelatin
capsules are available in various
sizes, colors and prints as customized.
It is made with two cylindrical,
telescoping pieces (cap & body). Each piece can be obtained in
transparent, partially opaque or completely opaque materials with colored,
identical / different colors, printed / unprinted or bearing surface markings.
Maintaining the tight friction closures, empty hard gelatin capsules are
available in varied printing facilities
like linear, circular, oriental & non-oriental, single and double colors.
Quality
Approach
To meet the various standards of
quality, they strictly comply to the quality specifications set by different
National and International bodies. Each of their process, from procurement of
raw materials to final production is stringently scrutinized under the
vigilance of quality experts and professionals.
Every product manufactured is precisely tested for its compatibility, strength
and tight-closure friction based on certain parameters, in their well developed
in-house laboratories that are adequately equipped with modern tools and
innovative technology. Apart from this, they also assure quality packaging
process to safeguard products from any technical flaw or designing defect. 
Production
Capacity
Their factory premises is well equipped with state-of-the-art technology and modern machines to handle 4 automatic capsule manufacturing machines at one go under the safe roof. With a production capacity of more than 72 million capsules per month / 2 machines, they endeavor to meet all their targets in the full flow.
Subjects are manufacturing a full lot of capsules in sizes ranging from 'O' to '2'. In addition to this, they
are also furnished with outstanding filling
convenience. Their hard gelatin capsule
shells suit all types of automatic high speed filling machines that are fully
tested on SA-9, AF-40 and AF -90 machines.
Cutting
Edge Technology
Well equipped with innovative machines and updated technology, their engineers have developed one of the kind customized Air-conditioning machinery that is exclusively used for the drying process of the capsules. This enables them to offer empty hard gelatin capsules with proper finishing and as per global standards.
Apart from this, they have machines with ultra modern technology that produce perfectly
shaped capsules without a sign of flaw or crack in them. The capsules so
produced and offered posses tight friction closures to keep the fillings fresh
and hygienic.
Skilled
Workmen
The core strength of subject is its proficient team
comprising of highly skilled, technically sound and dedicated personals. With
utmost modesty and dedication, the team as a whole strives to satisfy the
capsule needs of the pharmaceutical industry by manufacturing superior quality
and outstanding range of empty hard gelatin capsules as per customers
specifications. 
Research
and Development Programmes
To keep in tune with the global challenges of technology, they, at Saviour Caps are significantly investing in importing innovative process technologies and various research & development programs. This policy has enabled them to achieve a reputed position in the market, creating value and goodwill for the company and its customers.
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.42.87 |
|
UK Pound |
1 |
Rs.83.41 |
|
Euro |
1 |
Rs.66.11 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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/normal. |
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 |
|