MIRA
INFORM REPORT
|
Report Date : |
24.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SARVOTTAM CARE LIMITED |
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Registered Office : |
1-20-248, Umajay Complex, 2nd Floor, Rassolpura, Secunderabad
– 500003, Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
07.07.1995 |
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Com. Reg. No.: |
01-20979 |
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CIN No.: [Company
Identification No.] |
U24110AP1995PLC020979 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDS02839E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturing and Marketing of Health Care Products, Personal
Care Products and House Care Products. |
RATING &
COMMENTS
|
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 450000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed company meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
1-20-248, Umajay Complex, 2nd Floor, Rassolpura, Secunderabad
– 500003, Andhra Pradesh, India |
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Tel. No.: |
91-40-65215576/ 27813701/ 27813758/ 27843226/ 27903226/ 65216836 |
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Mobile No.: |
91-9848204863 |
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Fax No.: |
91-40-27908708/ 8700 |
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E-Mail : |
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Website : |
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Factory : |
6-197/1, Quthbullapur, Jeedimetla (V), Medchal Road, Hyderabad-500055, Andhra Pradesh, India |
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Tel. No.: |
91-40-23097769/23097737/23087737/23087769 |
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Fax No.: |
91-40-23096542/23083542 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. M. Mohan Krishna |
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Designation : |
Managing Director |
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Address : |
House No.202, Plot No.12 E 3, Sy No.127/129/1, Amaravaihi Colony,
Thokatta Village, Hashmathpet, Secunderabad – 500011, India |
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Date of Birth/Age : |
01.04.1958 |
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Date of Appointment : |
24.07.2000 |
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Name : |
Mr. M. Mruthyum Jaya |
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Designation : |
Director |
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Address : |
202, Plot No.12 E 3, Sy No.127/129/1, Amaravaihi Colony, Thokatta
Village, Hashmathpet, Secunderabad – 500011, India |
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Date of Birth/Age : |
22.12.1918 |
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Date of Appointment : |
30.09.2002 |
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Name : |
Mr. D. Basava Raju |
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Designation : |
Director |
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Address : |
Chitti Babu Street, Power RPET, Eluru, West Godavari, Andhra Pradesh,
India |
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Date of Birth/Age : |
12.08.1963 |
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Date of Appointment : |
27.09.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
|
Names of Shareholders |
|
No. of Shares |
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Mr. A Indusree |
|
1000 |
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Mr. A. Madhusree |
|
1000 |
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Mr. Allu Sudhakar |
|
1000 |
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Mr. B. Brain Kumar NRI |
|
1000 |
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Mr. B. Hila Rao |
|
15800 |
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Mr. Prem Kumar NRI |
|
1000 |
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Mr. B. V. Rao NRI |
|
31000 |
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Mr. D. Basava Raju |
|
53000 |
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Mrs. D. Kamala Kumari |
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26000 |
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Mr. D. Kishore |
|
2000 |
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Mr. D. Maheshwari |
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74000 |
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Mr. D. M. Ramachandran |
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74000 |
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Mr. D. Parameswari |
|
9000 |
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Mr. D. R. Kartik |
|
4000 |
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Mr. D. R. Srikrishna |
|
4000 |
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Mr. D. Srinivas |
|
10000 |
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Mr. D. Umamaheswar Rao |
|
5000 |
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Mr. D. Vani |
|
2000 |
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Mr. Visweswar Rao |
|
21500 |
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Dr. A. Somasekhar Rao |
|
1000 |
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Dr. G. Venkatasubba Rao |
|
1000 |
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Jadagir and Padmaja Rao |
|
10100 |
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Kum M. Trivenisatya |
|
20000 |
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Mr. L. Dhana Lakshmi |
|
1000 |
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Mr. L. Vijaya Lakshmi |
|
1000 |
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Mr. M. Dinakar |
|
4500 |
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Mr. M. Dopesh Raja |
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223000 |
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Mr. M. Krishna Kavita |
|
2000 |
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Mrs. M. Leela Kumari |
|
46000 |
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Mr. M. M. Jaya |
|
106800 |
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Mr. M Mohan Krishna |
|
2473100 |
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Mr. M. Sajjan Kiran |
|
8000 |
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Mr. Subbalaxmi |
|
85000 |
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Mr. M. Sujana Sheela |
|
238500 |
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Mr. M. Triveni |
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10500 |
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Mr. M. V. Gangadhar Rao |
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30500 |
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Mr. Yasodara Srinivas |
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29500 |
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Mr. M. Uma Devi |
|
10000 |
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Mrs. Menaka L. Shetty |
|
3500 |
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Mrs. Kanchan Seth |
|
1000 |
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Mr. N. Srimahalaxmi |
|
10000 |
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Mrs. Rayala Chandrasekhar |
|
1000 |
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Mr. R. Koumstubhamani |
|
1000 |
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Mr. S. Kamala |
|
5000 |
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Mr. S. L. N. Rao |
|
5000 |
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Mr. Sirisha |
|
5000 |
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Smt. A. Surya Kumari |
|
2000 |
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Mr. T. Appa Rao |
|
2500 |
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Mr. T. Sulochana Rao |
|
2500 |
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Mr. M. Uma Maheshwari |
|
1000 |
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Total |
|
3603300 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Marketing of Health Care Products,
Personal Care Products and House Care Products. |
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Products : |
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Brand Name : |
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Terms : |
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Selling : |
L/C and Credit (30 days) |
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Purchases : |
L/C and Credit (30 days) |
PRODUCTION STATUS
|
Products |
Installed
Capacity |
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Liquids of 250 ML |
1705000 |
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Liquids of 500 ML |
1354000 |
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Liquids of 4 ML |
96000000 |
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Creams of 100 gms |
12000000 |
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Powders of 500 gms |
1800000 |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
215 |
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Bankers : |
· State Bank of India SIB Saifabad Branch, Hyderabad, Andhra Pradesh. Credit Limit : Rs.60.000 millions
Basheerbagh, Hyderabad, Andhra Pradesh, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K. Kesava Reddy and Company Chartered Accountants |
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Address : |
D-3, 3rd Floor, Sukhamani Apartments, Lakdi Ka Pool, Hyderabad, Andhra Pradesh - 500004, India |
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Tel No.: |
91-40-23323926 |
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Fax No.: |
91-40-23323926 |
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Associates/Subsidiaries : |
Specific
Laboratories Private Limited 1-20-248, Umajay Complex, Rasoolpura, Secunderabad, Andhra Pradesh, India Activity : Manufacturer |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
3603300 |
Equity Shares |
Rs.10/- each |
Rs.36.033
millions |
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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 |
36.033 |
36.033 |
36.033 |
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2] Share Application Money |
5.050 |
0.045 |
0.035 |
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3] Reserves & Surplus |
49.850 |
48.419 |
41.402 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
90.933 |
84.497 |
77.470 |
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LOAN FUNDS |
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1] Secured Loans |
48.243 |
51.051 |
73.251 |
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2] Unsecured Loans |
13.483 |
13.597 |
18.806 |
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TOTAL BORROWING |
61.726 |
64.648 |
92.057 |
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DEFERRED TAX LIABILITIES |
5.723 |
5.057 |
2.995 |
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TOTAL |
158.382 |
154.202 |
172.522 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
102.693 |
76.068 |
83.434 |
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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 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
49.250
|
80.274 |
98.680 |
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Sundry Debtors |
50.471
|
45.074 |
61.164 |
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Cash & Bank Balances |
0.517
|
0.758 |
0.698 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
73.651
|
69.636 |
81.458 |
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Total
Current Assets |
173.889
|
195.742 |
242.000 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
116.271
|
113.202 |
133.844 |
|
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Provisions |
1.929
|
4.406 |
19.083 |
|
Total
Current Liabilities |
118.200
|
117.608 |
152.927 |
|
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Net Current Assets |
55.689
|
78.134 |
89.073 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.015 |
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TOTAL |
158.382 |
154.202 |
172.522 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
178.006 |
630.506 |
508.341 |
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Other Income |
17.126 |
14.298 |
68.214 |
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Total Income |
195.132 |
644.804 |
576.555 |
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Profit/(Loss) Before Tax |
2.545 |
10.463 |
18.729 |
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Provision for Taxation |
0.000 |
0.000 |
0.000 |
|
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Profit/(Loss) After Tax |
2.545 |
10.463 |
18.729 |
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Expenditures : |
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Raw Material Consumed |
130.384 |
490.603 |
418.835 |
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Purchases made for re-sale |
0.053 |
0.211 |
1.824 |
|
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Salaries, Wages, Bonus, etc. |
11.592 |
29.148 |
24.391 |
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Managerial Remuneration |
0.480 |
0.000 |
0.000 |
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Payment to Auditors |
0.050 |
0.000 |
0.000 |
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Interest |
6.852 |
7.498 |
6.472 |
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Depreciation & Amortization |
4.656 |
12.493 |
12.977 |
|
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Other Expenditure |
38.519 |
94.388 |
93.327 |
|
Total Expenditure |
192.587 |
634.341 |
557.826 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.30
|
1.66 |
3.24 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.43
|
1.66 |
3.68 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.92
|
3.85 |
5.75 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.12 |
0.24 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.98
|
2.16 |
3.16 |
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Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.66 |
1.58 |
LOCAL AGENCY
FURTHER INFORMATION
Website Details
Profile:
Subject was incorporated in 1996, as a public limited company
registered under Companies Act. The operations started on a humble
beginning with the manufacture of pharmaceutical liquid orals, which in due
course of time, expanded into manufacturing of other pharmaceuticals such as
tablets, ointments, creams, cosmetics, home and health care products.
The unit, having expanded its operations considerably, is
well established and geared to meet the requirements of its customers who are
frontline MNCs. Sarvotham Care Limited is a multi-million dollar company engaged
in manufacture of health care, personal care and home care products. The
company enjoys the confidence of many multi-national companies
within India and abroad. Having expanded its operations considerably, it is
well established and geared to meet all the requirements of its customers, both
Domestic and International.
Subject has been identified by many multinational
pharmaceutical giants as one of the leading manufacturers of health care, personal
care and home care products on the basis of production facilities and skills of
international standards.
Subject as a group has expanded its operations in a big way establishing two
manufacturing units in Baddi, Himachal Pradesh (SEZ).
Subject has been awarded ISO 9001(2000), EMS 14000(2004),
Certificates by TUV. GMP and Schedule M (FDA India)
People:
Subject continues its confident and successful strides under the visionary leadership of Mr. M. Mohan Krishna, an industrial engineer and a dynamic entrepreneur, with over 25 years of proven experience in this field. He is supported by well-qualified and experienced personnel at all the levels of management, staff, supervisors and workers to ensure smooth day-to-day operations.
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.42.97 |
|
UK Pound |
1 |
Rs.84.72 |
|
Euro |
1 |
Rs.66.99 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|