MIRA
INFORM REPORT
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Report Date : |
21.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
BHC LABS PRIVATE LIMITED |
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Formerly Known As : |
BHC AYURVEDIC
RESEARCH LABORATORIES PRIVATE LIMITED |
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Registered Office : |
# 1851 Samadhi Gate, Manimajra, Chandigarh-160 002, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
22.01.1993 |
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Com. Reg. No.: |
53-12986 |
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CIN No.: [Company
Identification No.] |
U24231CH1993PTC012986 |
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PAN No.: [Permanent
Account No.] |
AABCB6001E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Pharmaceuticals Products. |
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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Maximum Credit Limit : |
USD 13000 |
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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 an established company having moderate track. Its payments
are reported as slow. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions, only. |
INFORMATION PARTED
BY
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Name : |
Mr. Karan Bali |
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Designation : |
Director |
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Contact No.: |
91-9216596286 / 9815196286 |
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Date : |
12.06.2008 |
LOCATIONS
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Registered Office : |
# 1851 Samadhi Gate, Manimajra, Chandigarh-160 002, Punjab , India |
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E-Mail : |
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Area: |
700 Sq.fts |
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Location: |
Rented |
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Factory: |
Plot No. 91/2, Baddi Himachal Pradesh, India |
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Tel. No.: |
91-1795-245185 |
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Fax No.: |
91-1795-245185 |
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Area: |
10000 Sq.fts |
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Location: |
Owned |
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Corporate
Office: |
SCO 912, 1st Floor, NAC Manimajra, Chandigarh – 160 002,
Punjab, India |
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Tel. No.: |
91-172-4673913 |
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Mobile No.: |
91-9815196286 |
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Fax No.: |
91-172-4673913 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Karan Bali |
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Designation : |
Director |
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Address : |
House No. 1270, Sector 21, Panchkula 134112, Haryana, India |
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Date of Birth/Age : |
09.01.1977 |
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Qualification : |
MBA |
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Experience : |
5 years |
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Date of Appointment : |
21.01.2003 |
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E-Mail : |
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Name : |
Mr. Bhupender Kumar Gupta |
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Designation : |
Director |
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Address : |
House No. 859, Sector 8, Panchkula 134112, Haryana, India |
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Date of Birth/Age : |
21.04.1954 |
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Qualification : |
GAMS |
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Experience : |
25 years |
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Date of Appointment : |
22.01.1993 |
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E-Mail : |
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Name : |
Mrs. Amita Gupta |
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Designation : |
Director |
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Address : |
H No. 859, Sector 8, Panchkula 134112, Haryana, India |
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Date of Birth/Age : |
06.08.1958 |
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Date of Appointment : |
24.12.2002 |
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Date of Ceasing: |
12.02.2004 |
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Name : |
Mr. Satyender Yadav |
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Designation : |
Director |
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Address : |
H No. 623, Sector 8, Chandigarh, Punjab, India |
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Date of Appointment : |
10.06.2003 |
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Date of Ceasing: |
06.02.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (As on 30.09.2004) |
No. of Shares |
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Dr. Bhupinder Gupta |
1475 |
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Mr. Abhinav Gupta |
350 |
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Mrs. Rekha Gupta |
270 |
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Dr. Amit Varni |
180 |
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Mrs. Archana Garg |
180 |
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Mrs. Amita Gupta |
685 |
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Others |
2910 |
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Total
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6050 |
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Category (As on 31.03.2006) :- |
Percentage |
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Directors or relative of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Pharmaceuticals Products. |
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Products : |
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Terms : |
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Selling : |
Depending upon Market Requirements |
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Purchasing : |
CC, Credit (90 days) |
GENERAL
INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
75 (5 in Office and 70 in Factory) |
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Bankers : |
Canara Bank , SSI Branch, Sector – 16, Panchkula – 134 017, Haryana,
India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Manish Kamlesh And Associates Chartered Accountants |
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Address : |
599, Sector 4, Panchkula – 134 109, Haryana, India |
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Mobile No.: |
91-9316120420 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
(As on 31.03.2007):-
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
75000 |
Equity Shares |
Rs. 100/- each |
Rs. 7.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
6020 |
Equity Shares |
Rs. 100/-
each |
Rs. 0.602
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
FINANCIALS:-
The companies last available financial is enclosed herewith.
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 |
0.602 |
0.602 |
0.602 |
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2] Share Application Money |
0.150 |
0.150 |
0.150 |
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3] Reserves & Surplus |
2.002 |
0.521 |
0.147 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.754 |
1.273 |
0.899 |
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LOAN FUNDS |
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1] Secured Loans |
12.657 |
8.545 |
1.398 |
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2] Unsecured Loans |
2.625 |
1.609 |
0.468 |
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TOTAL BORROWING |
15.282 |
10.154 |
1.866 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.157 |
0.000 |
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TOTAL |
18.036 |
11.584 |
2.765 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
14.397 |
10.105 |
1.700 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.190 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
6.156
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6.066 |
0.468 |
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Sundry Debtors |
14.822
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8.642 |
0.262 |
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Cash & Bank Balances |
0.234
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0.200 |
0.180 |
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Other Current Assets |
0.252
|
0.830 |
0.578 |
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Loans & Advances |
0.610
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0.213 |
0.102 |
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Total
Current Assets |
22.074
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15.951 |
1.590 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
18.329
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14.472 |
0.715 |
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Provisions |
0.162
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0.000 |
0.000 |
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Total
Current Liabilities |
18.491
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14.472 |
0.715 |
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Net Current Assets |
3.583
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1.479 |
0.875 |
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MISCELLANEOUS EXPENSES |
0.056 |
0.000 |
0.000 |
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TOTAL |
18.036 |
11.584 |
2.765 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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67.900 |
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Other Income |
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0.000 |
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Total Income |
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67.900 |
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Profit/(Loss) Before Tax |
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1.449 |
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Provision for Taxation |
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[0.032] |
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Profit/(Loss) After Tax |
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1.481 |
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Total Expenditure |
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66.451 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
2.18
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
2.13
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.97
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NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.53
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NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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12.26
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19.34 |
2.87 |
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Current Ratio (Current Asset/Current Liability) |
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1.19
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1.10 |
0.22 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
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Name of the company |
BHC AYURVEDIC RESEARCH LABORATORIES
PRIVATE LIMITED |
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Presented By |
Mr. Karan Bali ,
Director |
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1) Date and description of instrument creating the change |
Deed of
hypothecation Re: Machinery of 14.09.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 4.000
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 |
Hypothecation of
Plant and Machinery to be out of bank as per schedule A to agreement
enclosed. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest
12.60% p.a with monthly comprising. Repayable in 54 month installment of Rs.
0.017 millions each and Rs. 0.065 ending on Margin 2011. Extent of operation
100%. |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank, SSI
Branch, Panchkula |
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6) Date and brief description of instrument modifying the charge |
NIL |
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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. |
NIL |
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Corporate
identity number of the company |
U24231CH1993PTC012986 |
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Name of the
company |
BHC LABS PRIVATE
LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
# 1851 Samadhi Gate, Manimajra, Chandigarh-160 002, Punjab , India |
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This form is for |
Modification of
charge |
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Type of charge |
· Book Debts · Movable property |
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Particular of
charge holder |
Canara Bank, SSI Branch,
Sector 16, panchkula, Haryana – 134 109, India E-Mail: rampaulca@yahoo.co.in |
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Nature of
instrument creating charge |
Cash Credit
Agreement dated 08.02.2007 and Acknowledgement of debt and security |
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Date of
instrument Creating the charge |
08.02.2007 |
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Amount secured by
the charge |
Rs. 6.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
: Rate of interest
@ 13.50% p.a with monthly rests. Terms of
Repayment : Repayable on
Demand Margin Margin 25% Extent and
Operation of the charge 100% |
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Short Particulars
of the present modification |
Hypothecation of
all kind of stock of material including stock of raw materials , work in
progress, finished goods and book debts and all other current assets of the
company along with existing and proposed plant and machinery as collateral
security as per list enclosed. |
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Particulars of
the present modification |
Cash credit limit
of Rs. 6.000 millions remain the same but charge has been modified because
earlier agreement dated 25.09.2006 was under stamped and now the agreement
has been executed on requisite value of stamp paper. Other terms and
conditions remain the same. |
TRADE REFERENCES :
1. Mr. Ketur, Bhavani Shankar Group
Mobile No.: 91-9769391942
2. Mr. Gaurav, ABCO India
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.42.97 |
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UK Pound |
1 |
Rs.84.75 |
|
Euro |
1 |
Rs.66.72 |
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 |
1 |
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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 |
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 |
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 |
|
27 |
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 |
|