MIRA
INFORM REPORT
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Report Date : |
09.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ODIN HEALTH CARE PRIVATE LIMITED |
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Registered Office : |
Mittal Complex Bye Pass Road, Saproon,
Solan – 173211, Himachal Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
11.03.2005 |
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Com. Reg. No.: |
06-28090 |
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CIN No.: [Company
Identification No.] |
U24230HP2005PTC028090 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PTLO10433D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Eye Drops |
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 8000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track.
Management claims sales turnover of 200 million. The Company failed to export It’s products. It’s trade relations are fair. Payments are 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. Varma |
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Designation : |
Manager |
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Contact No.: |
91-9418498250 |
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Date : |
30.04.2008 |
LOCATIONS
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Registered/Administration Office/Fctory : |
Mittal Complex Bye Pass Road,
Saproon, Solan – 173211, Himachal Pradesh |
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Tel. No.: |
91-1792-225094 |
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Fax No.: |
91-1792-221035 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Raman Ram Kumar Aggarwal |
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Designation : |
Director |
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Address : |
# 762, Sector 12, Panchkula, Haryana |
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Date of Birth/Age : |
14.09.1975 |
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Date of Appointment : |
11.03.2005 |
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Name : |
Mr. Vikas Ram Kumar Aggarwal |
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Designation : |
Director |
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Address : |
# 762, Sector 12, Panchkula, Haryana |
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Date of Birth/Age : |
19.10.1972 |
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Date of Appointment : |
11.03.2005 |
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Name : |
Mr. Ram Kumar Dwarka Dass Aggarwal |
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Designation : |
Director |
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Address : |
# 762, Sector 12, Panchkula, Haryana |
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Date of Birth/Age : |
12.12.1941 |
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Date of Appointment : |
11.03.2005 |
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Name : |
Mrs. Anjana Ram Kumar Aggarwal |
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Designation : |
Director |
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Address : |
# 762, Sector 12, Panchkula, Haryana |
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Date of Birth/Age : |
11.07.1949 |
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Date of Appointment : |
11.03.2005 |
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Name : |
Mr. Vinod Bani Prasad Gupta |
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Designation : |
Managing Director |
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Address : |
Surya Vihar, Rajgarh Road, Solan, Tehsil, Solan, Himachal Pradesh |
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Date of Birth/Age : |
22.04.1943 |
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Date of Appointment : |
14.03.2005 |
MAJOR SHAREHOLDERS
As on 30.09.2005
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Names of Shareholders |
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No. of Shares |
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Raman Ram Kumar Aggarwal |
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4000 |
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Vikas Ram Kumar Aggarwal |
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4000 |
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Ram Kumar Dearka Dass Aggarwal |
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1000 |
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Anjana Ram Kumar Aggarwal |
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1000 |
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Total |
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10000 |
EQUITY SHARE BREAKUP (PERCENTAGE OF TOTAL EQUITY)
As on 30.09.2006
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Others |
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0.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Eye Drops |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Europe |
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Terms : |
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Selling : |
Cash or Credit |
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Purchasing : |
Cash or Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
20 |
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Bankers : |
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Facilities : |
The company enjoys substantial facilities from it’s bankers |
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Auditors : |
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Name : |
Mohinder K Sharma and Company Chartered Accountant |
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Address : |
Mansha Sunny, Near Tip Top Hotel, Solan-173212, Himachal Pradesh,
India |
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Phone : |
91-1792-223435/ 222628 |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 30.09.2006
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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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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2.140 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.240 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
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5.873 |
0.000 |
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2] Unsecured Loans |
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3.100 |
0.600 |
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TOTAL BORROWING |
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8.973 |
0.600 |
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DEFERRED TAX LIABILITIES |
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0.700 |
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TOTAL |
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11.213 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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10.816 |
0.000 |
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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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0.001 |
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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8.372 |
0.000 |
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Sundry Debtors |
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10.969 |
0.000 |
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Cash & Bank Balances |
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0.470 |
0.630 |
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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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1.129 |
0.050 |
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Total
Current Assets |
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20.940 |
0.680 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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19.745 |
0.000 |
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Provisions |
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0.840 |
0.002 |
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Total
Current Liabilities |
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20.585 |
0.002 |
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Net Current Assets |
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0.355 |
0.678 |
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MISCELLANEOUS EXPENSES |
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0.041 |
0.022 |
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TOTAL |
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11.213 |
0.700 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover (estimated) |
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42.240 |
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Other Income |
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0.013 |
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Total Income |
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42.253 |
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Profit/(Loss) Before Tax |
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2.350 |
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Provision for Taxation |
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0.210 |
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Profit/(Loss) After Tax |
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2.140 |
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Expenditures : |
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Financial Charges |
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0.461 |
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Personal Expenses |
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0.785 |
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Administrative Expenses |
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1.149 |
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Depreciation & Amortization |
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0.985 |
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Change in stock |
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36.523 |
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Total Expenditure |
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39.903 |
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Group Turnover Rs. 800.000 Million
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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5.06 |
N.A |
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Net Profit Margin (PBT/Sales) |
(%) |
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5.56 |
N.A |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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7.40 |
N.A |
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Return on Investment (ROI) (PBT/Networth) |
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1.05 |
N.A |
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Debt Equity Ratio (Total Liability/Networth) |
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13.20 |
6.02 |
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Current Ratio (Current Asset/Current Liability) |
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1.02 |
340.00 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
- Medi Span Limited, Hydrabad
- Claris Pharmaceuticals, Ahmedabad
- Entod Pharmaceuticals, Mumbai
- Trend Pharmaceuticals, Mumbai
- Dost Pharmaceuticals, Mumbai
As per website
COMPANY PROFILE :
Subject was incorporated on 11.3.2005 vide Reg. No. U24230HP2005PTC28090 with the "Registrar of Companies, Punjab, H.P.& Chandigarh, Jallandhar". The Company was incorporated with the objective to setup a Pharmaceuticals Manufacturing unit, and was set up and executed at Mittal Complex, Bye Pass Road, Saproon, Solan (H.P.)-173211. The company started its Commercial Production in September 2005.
Now the company is manufacturing the pharmaceutical formulations in the shape of Injections ( Liquid & Dry), Eye & Ear Drops & Ointments. Company is equipped with all Specification as required by Drug & Cosmetics Act. The facilities include raw and packaging material godowns, finished goods godowns and sections for the manufacture of Injections (Dry & Liquid), Eye & Ear Drops, Nasal Drops and Ointment/Cream external applications.
All the testing of Raw, Intermediate and finished goods is done in a well equipped, self sufficient Quality Control Laboratory in the factory premises. Now we are ISO 9001:2000 & GMP certified company.
BOARD OF DIRECTORS
At present the company is managed by
following three directors
1. Mr. Vinod Kumar Gupta - Managing Director.
2. Mr. Raman Aggarwal- Director.
3. Mr. Vikas Aggarwal- Director.
Mr. Vinod Kumar Gupta, M.Director of the company is a qualified Engineer and having very vast experience in the line of.manufacturing of Medicines as he is also one of the working director of M/ s Meridian Medicare Ltd a leading Pharmaceuticals Manufacturing Company in H.P.. Company's policies and rules are performed under his Supreme guidance ana close supervision.
Mr. Raman Aggarwal Director of the company is qualified chartered Accountant, and having very good working experience to run and manage the day to day working of pharmaceutical Manufacturing Company, and at present he is looking for planning, sales, new introduction etc. Company has achieved all its target under his dynamic leadership.
Mr. Vikas Aggarwal, Director of the company is M.B.A. and
having strong hold in pharmaceuticals Raw Materials.
Presently he is responsible for the vender approvals, purchases etc. He is also
a proprietor of a Raw material Trading Company, M/ s Passim Medichem Agencies.
KEY PERSONS & ODIN HEALTHCARE
Mr. P.c. Roy :(Production Manager): - Mr. P.e. Roy is qualified B-Pharma Chemist from Maghad university, Bodh Gaya. And Approved Manufacturing Chemist from the State Drugs Controller of Bihar at Patna. He is having working experience more than 20 years. Be is the head of manufacturing of the Injectable and Ointment Section and all the solutions and every medicine is prepared under his close supervision. He is a very talented person and has proved his capability all the times in all the fields.
Mrs. Seema Gupta (Quality Control Manager) : - Mrs. Seema Gupta is also a Qualified and Approved Chemist. Her qualification is M.Sc. from H.P. University. She is approved a Analytical chemist for chemicals/Instrumentation Analysis and Microbiological testing from Food & Drug Authority Shimla, She has having experience more than 7 years in the same field. She is also Quality Control Manager in our factory. She is responsible for the quality of the product being manufactured, and to test all the products including Raw Materials from time to time.
For day to day management, the company has a team of qualified and experience professionals, who manage the operations of the company.
Production Management Team:
Mr. Amit Awasthi , Mr. Manoj Kumar Shukla . Mr. Pasupati Jha , Miss Latika. ' Mr. Ravi Kumar Miss Reena Thakur . Mr. Dill Thakur
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.41.79 |
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UK Pound |
1 |
Rs.81.60 |
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Euro |
1 |
Rs.64.01 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
YES |
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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 |
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 |
|
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 |
|
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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