MIRA
INFORM REPORT
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Report Date : |
27.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
SCOTT EDIL PHARMACIA LIMITED |
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Registered Office : |
54-55, Industrial Area, Phase 2, Chandigarh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
06.01.2003 |
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Com. Reg. No.: |
25699 |
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CIN No.: [Company
Identification No.] |
U24232CH2003PLC025699 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PTLS15798G |
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PAN No.: [Permanent
Account No.] |
AAHCS1643K |
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Legal Form : |
A closely held public limited liability company |
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Line of Business : |
Manufacturer, Exporter and Importer of Pharmaceuticals and
Medicaments |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 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 having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Amarjeet Singh |
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Designation : |
Account Manager |
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Contact No.: |
91-9878048855 |
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Date : |
27.03.2008 |
LOCATIONS
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Registered Office : |
54-55, Industrial Area, Phase 2, Chandigarh, India |
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Tel. No.: |
91-172-2653974 / 5075628 |
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Mobile No.: |
91-9878048855 / 9878610690 [Mr. Manish Modi] |
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Fax No.: |
91-172-5087952 |
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E-Mail : |
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Website : |
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Area : |
Rented |
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Factory : |
56, E.P.I.P. Phase No. : 1, Jharmajri, Baddi, Himachal Pradesh, India |
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Tel. No.: |
91-1795-271069 |
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Fax No.: |
91-1795-271068 |
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Area : |
25000 sq. ft. [Owned] |
DIRECTORS
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Name : |
Mr. Balram Kishen Agarwal |
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Designation : |
Chairman |
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Name : |
Mr. Sanjeev Agarwal |
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Designation : |
Managing Director |
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Name : |
Mrs. Vaishali Agarwal |
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Designation : |
Technical Director |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Pharmaceuticals and
Medicaments |
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Products : |
Domestic -
Capsules -
Cough Syrups -
Cream -
Dry Powder (Injections) -
Gel -
Injectable -
Liquid Injections (Ampoules) -
Liquid Injections (Vials) -
Ointment -
Oral Liquids -
Suspensions / Drops -
Syrups / Tonics -
Tablets -
Protein Powders International -
Dry Syrup -
Injection -
Ointment -
Ophthalmics Scott-Specialities -
Injections Soft
Pharmaceuticals -
Capsules Range -
Injectable Range -
Protein Powder / Gel Range -
Syrup/Suspensions Range -
Tablets Range |
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Exports : |
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Products : |
All Products |
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Countries : |
Russian Countries, Azerbaijan, Afghanistan, Tajikistan,
Uzbekistan and Georgia |
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Imports : |
Raw Material : China and Egypt Machinery : Abu Dhabi and China |
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Terms : |
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Selling : |
L/C, Cash, Credit and T/T |
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Purchasing : |
L/C, Cash, Credit and T/T |
GENERAL
INFORMATION
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Customers : |
Pharma Companies |
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No. of Employees : |
Around 175 |
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Bankers : |
State Bank of India, SSI Branch, Sector 7, Mohali |
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Facilities : |
C/C Rs. 150.000 Millions L/C Rs. 250.000 Millions Loans : Rs. 20.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Avinash Sharma and Associates Chartered Accountants |
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Address : |
Chandigarh, India |
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Mobile No.: |
91-9814084197 |
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Associates/Subsidiaries : |
B. M.
PHARMACEUTICALS Address : 47-48,
Industrial Area, Phase II, Chandigarh, India
Activities : Manufacturer, Exporter and
Importer of Pharmaceuticals and Medicaments GCM
LABORATORIES Address : 1057, Industrial
Area, Phase II, Chandigarh, India Activities : Manufacturer, Exporter and Importer of Pharmaceuticals
and Medicaments |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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3500000 |
Equity Shares |
Rs. 10/- each |
Rs. 35.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3060000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.600
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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30.600 |
20.300 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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81.000 |
24.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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111.600 |
44.300 |
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LOAN FUNDS |
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1] Secured Loans |
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122.800 |
52.400 |
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2] Unsecured Loans |
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43.000 |
34.100 |
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TOTAL BORROWING |
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165.800 |
86.500 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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277.400 |
130.800 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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140.400 |
81.600 |
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Capital work-in-progress |
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4.900 |
25.500 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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93.800 |
41.800 |
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Sundry Debtors |
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77.400 |
43.400 |
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Cash & Bank Balances |
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3.800 |
1.400 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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23.000 |
11.300 |
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Total
Current Assets |
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198.000 |
97.900 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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66.500 |
74.300 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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66.500 |
74.300 |
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Net Current Assets |
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131.500 |
23.600 |
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MISCELLANEOUS EXPENSES |
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0.600 |
0.100 |
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TOTAL |
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277.400 |
130.800 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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477.200
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289.500
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Other Income |
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0.100
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0.000
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Total Income |
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477.300 |
289.500 |
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Profit/(Loss) Before Tax |
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61.500
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27.500
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Provision for Taxation |
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10.600
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6.400
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Profit/(Loss) After Tax |
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50.900
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21.100
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Expenditures : |
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Raw Materials |
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415.900
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277.200
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Excise Duty |
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0.000
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0.000
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Power & Fuel Cost |
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4.700 |
1.500
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Other Manufacturing Expenses |
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4.700
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1.600
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Employee Cost |
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7.600
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3.700
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Selling and Administration
Expenses |
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8.400
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4.400 |
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Miscellaneous Expenses |
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0.500
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0.000
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Interest & Financial Charges
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11.700
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5.700
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Depreciation |
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14.300
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4.400
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Stock Adjustments |
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[52.000]
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[36.500] |
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Total Expenditure |
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415.800 |
262.000 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total
Income |
(%) |
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10.66 |
7.29 |
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Net Profit Margin (PBT/Sales) |
(%) |
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12.89 |
9.50 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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18.17 |
15.32 |
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Return on Investment (ROI) (PBT/Networth) |
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0.55 |
0.62 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.08 |
3.63 |
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Current Ratio (Current Asset/Current Liability) |
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2.98 |
1.32 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCE
- Cadila
- Cipla
- Lyka Labs
- RSCL
- Nicholas
Piramal
- Wockhardt
- Mankind
Pharma
- Marksans
AS PER WEBSITE
History / Business
Subject is a professionally managed group of companies for the
manufacturing and marketing of quality pharmaceuticals range of products, since
1996. Subject has delivered on
all fronts because of its meticulous planning and marketing over the last five
years. It is about to reach a turnover of Rs.100 crore.
Subject has an ISO 9001-2000 certificate besides WHO-GMP certification.
It has nine sections and is manufacturing more that 400 products. It is one of
the fastest growing company of India. The Baddi plant has over 135000 sqft of
covered area.
Subject has the state of art
manufacturing technology where international standards are translated in the
ultra modern plant, machinery, and laboratory.
Subject has the manufacturing
facilities for opthalmic solutions, injections (dry/liquid) oral liquids, dry
syrup, tablets, capsules, ointments, creams, gels, dietary protein food
supplements.
Subject is manufacturing more than 300 products for its own marketing and
for the leading pharmaceutical marketing organisations of India.
Striving for a happier and healthier tomorrow, they are determined to provide a
total customer satisfaction and achieving leadership in chosen market, products
and services across the globe, through excellence and innovative technology.
Profile
It’s a
pleasure addressing here and talking about the company - Scott-Edil, visioned
by Balram Kishan Aggarwal (Chairman), Sanjeev Aggarwal (Managing Director) and
Vaishali Aggarwal (Technical Director). Owing to the result of their meticulous
planning and marketing over the last five years, Scott-Edil has conspicuously
delivered on all fronts and is about to reach a turn over of 1000 Millions.
Trust me; it’s just the beginning of “New magnificent Scott-Edil”, ready for
catering top companies as a manufacturer. They are well on track as a player
that continues the saga of unsurpassed quality performance.
Alliances
During
the last few years, they have entered into alliances with Alembic, Cadila,
Cipla, German Remedies, Lupin, Lyka Labs, Nicholas Piramal and so forth. These
alliances are healthy blends of advantage for both sides in manufacturing and
marketing nation wide.
Tablets, Capsules, Ointments, Creams, Gels, Dietary Protein Food Supplements.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.40.14 |
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UK Pound |
1 |
Rs.80.41 |
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Euro |
1 |
Rs.62.59 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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45 |
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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