MIRA
INFORM REPORT
|
Report Date : |
03.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
TROIKAA PHARMACEUTICALS LIMITED |
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Registered Office : |
Commerce House- 1, Opposite Rajhvansh Apartment, Judges Bunglow Road,
Ahmedabad-380054, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
17.02.1999 |
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Com. Reg. No.: |
04-35441 |
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CIN No.: [Company
Identification No.] |
U24231GJ1999PLC035441 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMT01338B |
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PAN No.: [Permanent
Account No.] |
AABCT0228K |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer of Pharmaceutical Bulk Drugs and Formulations |
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 850000 |
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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 : |
It is a well-established company
engaged in manufacturing and marketing of Pharmaceuticals in the form of
Tablets, Injectables, Ointments, Liquids, Capsules and Others. It is a closely
and family owned company. The company’s business is progressing
satisfactorily. Financial position is comfortable trade relations are
reported as fair. Payments are usually correct and as per commitments. It can be considered normal for
business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Bansi Kalal |
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Designation : |
Finance Manager |
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Contact No.: |
91-9879615622 |
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Date : |
01.11.2008 |
LOCATIONS
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Registered Office : |
Commerce House- 1, Opposite Rajhvansh Apartment, Judges Bunglow Road,
Ahmedabad-380054, Gujarat, India |
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Tel. No.: |
91-79-26856242/ 26856243/ 26856244/ 26856245 |
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Mobile No.: |
91-9879615622 |
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Fax No.: |
91-79-29856246 |
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E-Mail : |
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Website : |
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Area : |
500 sq.ft (Rented) |
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Corporate Office: |
Om Tower, Satelite Road, Jodhpur Terkra, Ahmedabad-380015, Gujarat,
India |
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Factory 1 : |
Thol Village, Taluka Kadi, Mehsanana District, Gujarat-382728, India |
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Mobile No.: |
91-9879615629 |
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Factory 2 : |
Sara Industrial Estate, Dehradun |
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Branches : |
‘Shantikunj’, Near Moveland Cinema, Bangalore-500009, Karnataka, India |
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Distribution Centre : |
·
Bangalore ·
Cuttak ·
Hydrabad ·
Kolkata ·
Mumbai ·
Chennai ·
Delhi ·
Indore ·
Lucknow ·
Patna ·
Ranchi ·
Cochin ·
Guwahati ·
Jaipur ·
Meerut ·
Raipur |
DIRECTORS
|
Name : |
Mr. Ketan Rajnibhai Patel |
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Designation : |
Managing Director |
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Address : |
Aditya, 12, Nandiohill Society, Opposite ISRO, Jodhpur Tekra, Ahmedabad-380015,
Gujarat, India |
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Date of Birth/Age : |
01.09.1956 |
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Date of Appointment : |
17.02.1999 |
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Name : |
Mr. Milan Rajnibhai Patel |
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Designation : |
Managing Director |
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Address : |
Aditya, 12, Nandiohill Society, Opposite ISRO, Jodhpur Tekra,
Ahmedabad-380015, Gujarat, India |
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Date of Birth/Age : |
02.11.1961 |
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Date of Appointment : |
17.02.1999 |
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Name : |
Mrs. Patel Milan Binita |
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Designation : |
Whole Time Director |
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Address : |
12 Nand Hill Opp. Isro Satellite
Road, Ahmedabad-380013, Gujarat, India |
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Date of Birth/Age : |
21.08.1966 |
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Date of Appointment : |
17.02.1999 |
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Name : |
Mrs. Sushma Ketan Patel |
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Designation : |
Whole Time Director |
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Address : |
12 Nand Hill Opp. Isro Satellite
Road, Ahmedabad-380013, Gujarat, India |
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Date of Birth/Age : |
22.07.1962 |
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Date of Appointment : |
17.02.1999 |
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Name : |
Mr. Rajanbhai Vithalbhai Patel |
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Designation : |
Chairman |
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Address : |
12 Nand Hill Opp. Isro Satellite
Road, Ahmedabad-380013, Gujarat, India |
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Date of Birth/Age : |
21.02.1924 |
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Date of Appointment : |
17.02.1999 |
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Name : |
Mr. Bharat Jayantilal Kapadia |
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Designation : |
Director |
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Address : |
Dhara Nursing Home, Gotri Road, Baroda-390007, Gujarat, India |
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Date of Birth/Age : |
19.10.1959 |
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Date of Appointment : |
29.03.2005 |
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Name : |
Mrs. Bimal Natubhai Desai |
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Designation : |
Director |
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Address : |
No. 20, Purnaprasad Entension, Race Course Road, Madavnagar,
Bangalore-560001, Karnataka, India |
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Date of Birth/Age : |
13.04.1959 |
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Date of Appointment : |
29.03.2005 |
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Name : |
Mrs. Ameeta Janak Patel |
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Designation : |
Director |
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Address : |
203/204, Adarsh Manor, 6/7, Shankar Matth Road, Shanarpuram,
Bangalore-560004, Karnataka, India |
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Date of Birth/Age : |
04.08.1953 |
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Date of Appointment : |
15.06.2005 |
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Name : |
Mr. Achyutkumar Dadubhai Patel |
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Designation : |
Additional Director |
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Address : |
3/A, Kalind Apartment, Near Rajivbhai Tower,Krisnabaug, Maninagar,
Ahmedabd-380008, Gujrat, India |
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Date of Birth/Age : |
23.05.1966 |
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Date of Appointment : |
01.03.2008 |
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Name : |
Mr. Prakash Jayantilal Shah |
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Designation : |
Additional Director |
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Address : |
203, Ishwarkrupa Apartment, Usmanpura, Ahmedabad-380013, Gujarat,
India |
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Date of Birth/Age : |
18.08.1958 |
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Date of Appointment : |
01.03.2008 |
KEY EXECUTIVES
|
Name : |
Mr. Himanshu Jivraj Thakor |
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Designation : |
Secretary |
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Address : |
L-86, Swatantra Senaninagar, Opposite Akhbarnagar, New Wadaj,
Ahmedabad-380013, Gujarat, India |
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Date of Birth/Age : |
20.01.1973 |
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Date of Appointment : |
01.08.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Preference
Shares |
No. of Equity Shares |
|
Ketan R Patel |
165000 |
813724 |
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Milan R Patel |
10000 |
406862 |
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Binita M Patel |
17000 |
406862 |
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Sushma V Patel |
24500 |
813724 |
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Rajnibhai V Patel |
69000 |
300 |
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Deepak B soni |
000 |
300 |
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Ameeta J Patel |
124500 |
100300 |
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Sutanben R Patel |
88000 |
30 |
|
Asheel K Patel |
1400 |
542482 |
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Nisheel K Patel |
0000 |
542482 |
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Kush M Patel ( Minor) |
0.000 |
542482 |
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R V Patel (Huf) |
37000 |
0000 |
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Anilaben Patel |
2100 |
0000 |
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Janmkaben R Patel |
7000 |
0000 |
As on 31.03.2007
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List of allottees |
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No of Shares Allotted |
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Milan R Patel |
|
250000 |
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Nishith D Desai |
|
195000 |
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Suitanben R Patel |
|
450000 |
|
Exel Chemicals (India) Private Limited |
|
1400000 |
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Shashikala D Desai |
|
30000 |
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Dashrath M Desai |
|
60000 |
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Total |
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2385000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
|
99.99 |
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Other top fifty ( 50) shareholders (Other than listed above) |
|
0.01 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pharmaceutical Bulk Drugs and Formulations |
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Products : |
Pharmaceuticals
Tablets and
Capsules
Neutraceuticals
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Exports : |
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Countries : |
·
Malaysia ·
Netherlands ·
Sri Lanka ·
Sudan |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C, D/A and Advance |
PRODUCTION STATUS
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Particulars |
Unit |
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Installed
Capacity |
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Injectables |
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Vials |
Nos. (millions) |
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|
29.200 |
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Ampoules |
Nos. (millions) |
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14.600 |
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Tablets |
Nos. (millions) |
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365.000 |
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Ointments |
Tubes (Nos.) |
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-- |
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Liquids |
Bottles (Nos.) |
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-- |
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Capsules |
Nos. (millions) |
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-- |
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Others |
Nos. |
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-- |
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Sets |
Nos. |
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-- |
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Kit |
Kgs. |
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-- |
GENERAL
INFORMATION
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Suppliers : |
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No. of Employees : |
800 |
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Bankers : |
·
Bank of Baroda, Ashram Road Branch, Ahmedabad-380009, Gujarat, India ·
Standard Chartered Bank Limited, Abhijeet Building ·
ICICI Bank, BMC, Ahmedabad Branch ·
Karur Vysya Bank, Ahmedabad Branch ·
Export Import Bank of India, Centre One Building, Floor 21, World
Trade Centre, Cuffe Parade, Mumbai-400005, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Chandrakant K Thakkar and Company Chartered Accountant |
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Address : |
6, Jayeshree Apartments, Law Garden, Ellisbridge, Ahmedabd-38006,
Gujarat, India |
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Tel. No.: |
91-79-26466979/91-79-26740842 |
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Holding Company : |
Exel Chemicals (India) Private Limited |
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Associates/Subsidiaries : |
Troikaa Exports Private Limited |
CAPITAL STRUCTURE
As on 27.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
5000000 |
Preferences Shares |
Rs. 10/- each |
Rs. 50.000 Milions |
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Total |
|
Rs. 100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4169548 |
Equity Shares |
Rs. 10/-
each |
Rs. 41.695
Millions |
|
3685700 |
Preference Shares |
Rs. 10/-
each |
Rs. 36.857
Millions |
|
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Total |
|
Rs. 78.552 Millions |
As on 31.03.2004
|
No. of Shares |
Type |
Value |
Amount |
|
7184200 |
Equity Shares |
Rs. 10/-
each |
Rs. 71.842
Millions |
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 |
71.842 |
47.992 |
47.993 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
99.394 |
61.585 |
44.125 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
171.236 |
109.577 |
92.118 |
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|
LOAN FUNDS |
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1] Secured Loans |
207.787 |
154.049 |
75.812 |
|
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2] Unsecured Loans |
68.082 |
57.419 |
59.892 |
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TOTAL BORROWING |
275.869 |
211.468 |
135.704 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
447.105 |
321.045 |
227.822 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
307.981 |
135.795 |
125.327 |
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Capital work-in-progress |
2.763 |
63.797 |
1.077 |
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INVESTMENT |
0.108 |
0.110 |
0.110 |
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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 |
161.114
|
118.324 |
89.414 |
|
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Sundry Debtors |
75.430
|
57.582 |
48.761 |
|
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Cash & Bank Balances |
17.687
|
20.013 |
13.730 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
49.385
|
54.978 |
24.040 |
|
Total
Current Assets |
303.616
|
250.897 |
175.945 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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|
Current Liabilities |
141.413
|
112.447 |
66.065 |
|
|
Provisions |
25.950
|
18.674 |
11.653 |
|
Total
Current Liabilities |
167.363
|
131.121 |
77.718 |
|
|
Net Current Assets |
136.253
|
119.776 |
98.227 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
1.567 |
3.081 |
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TOTAL |
447.105 |
321.045 |
227.822 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
586.582 |
408.919 |
348.717 |
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Other Income |
7.027 |
4.160 |
3.419 |
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Total Income |
593.609 |
413.079 |
352.136 |
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Profit/(Loss) Before Tax |
48.329 |
25.263 |
17.697 |
|
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Provision for Taxation |
0.000 |
0.000 |
4.700 |
|
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Profit/(Loss) After Tax |
48.329 |
25.263 |
12.997 |
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Earnings in Foreign Currency : |
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Export Earnings |
103.589 |
71.094 |
43.845 |
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Expenditures : |
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|
|
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Raw Material Consumed |
108.377 |
108.068 |
159.095 |
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Purchase made for resale |
54.148 |
42.404 |
|
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|
Consumption of stores and spares parts |
3.767 |
3.939 |
3.090 |
|
|
Increase/(Decrease) in Finished Goods |
[11.809] |
[30.971] |
[10.849] |
|
|
Salaries, Wages, Bonus, etc. |
90.953 |
64.535 |
48.968 |
|
|
Managerial Remuneration |
8.605 |
6.425 |
6.044 |
|
|
Payment to Auditors |
0.348 |
0.187 |
0.060 |
|
|
Interest |
23.878 |
12.674 |
15.109 |
|
|
Insurance Expenses |
3.535 |
1.618 |
1.190 |
|
|
Power & Fuel |
12.947 |
6.669 |
3.957 |
|
|
Depreciation & Amortization |
15.406 |
8.817 |
7.848 |
|
|
Other Expenditure |
235.125 |
163.451 |
99.927 |
|
Total Expenditure |
545.280 |
387.816 |
334.439 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
8.14
|
6.12 |
3.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.23
|
6.12 |
5.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.90
|
6.53 |
5.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.23 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.59
|
3.13 |
2.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81
|
1.91 |
2.26 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
·
Excel Chemical Private Limited, Ahmedabad (Trading Company)
·
Maha Shakti Rasayan Private Limited, Ahmedabad
Operations:
During the year, the company has earned net profit of Rs. 40.330
Millions (Previous Year Rs. 18.463 Millions) after providing Depreciation of
Rs. 13.838 Millions (Previous year Rs. 7.304 Millions) and Provision for Tax of
Rs. 5.600 Millions (Previous Year Rs. 5.000 Millions)
Contingent
Liabilities:
|
Particulars |
31.03.2007 Rs. In Millions |
|
A Guarantees given by banks |
9.002 |
|
B Unexpired Letters of Credit |
4.771 |
|
C Claims against the company not acknowledged as debts |
0.166 |
|
D Income Tax Liability against orders which are disputed by the
company and which are in further appeals |
0.426 |
|
E Sales Tad Liability against order which is disputed by the company
and which is in further appeal |
0.362 |
|
F ESIC Liability against order which is disputed by the company and
which in further appeal |
0.083 |
Bankers Charges Report
as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24231GJ1999PLC035441 |
|
Name of the
company |
TROIKAA PHARMACEUTICALS LIMITED |
|
Address of the registered
office or of the principal place of
business in India of the company |
Commerce House- 1, Opposite Rajhvansh Apartment, Judges Bunglow Road,
Ahmedabad-380054, Gujarat, India |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Export Import Bank of India, Centre One Building, Floor 21, World
Trade Centre, Cuffe Parade, Mumbai-400005, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Unattested Deed
of Hypothecation dated 4th July, 2008 executed by Troikaa
Pharmaceuticals Limited ( herein and thereafter referred to as” the
Borrower”) in favour of Export Import Bank of India ( Exim Bank) (a true copy
of whereof is attached hereto) over all the moveable fixed assets of the company,
present and future situated at Mauza Shankarpur Hakumatpar in District
Dehradun and Thol, Gujarat |
|
Date of
instrument Creating the charge |
04.07.2008 |
|
Amount secured by
the charge |
Rs. 32.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 1.75% p.a.l below
Exim Bank’s PLR (Presently 14.00% p.a.) subject to change as per Exim Bank’s
directives, Payable wit monthly rests on 20th of every month. The
interest rate I subject to reset as per schedule II-A of Rupee Loan
Agreement. Terms of
Repayment The rupee loan
shall be repaid in 14 (fourteen) substantially equal quarterly installments
commencing after 18 months form the date of first disbursement or such other
date as may be advised by Exim Bank at the time of making the first
disbursement. Margin 20.00 % Extent and
Operation of the charge The charge
created by the aforesaid Deed of Hypothecation shall operate as a continuing security
by way of first pari passu charge on entire movable fixed assets of Dehradun
Unit, Uttranchal both present and future and by way of second pari passu
charge on entire moveable fixed assets of Thol Unit both present and future,
for due repayment by the Borrower to Exim Bank of the Rupee Loan of Rs.
32.000 Millions together with the interest and other monies payable
thereunder by the Borrower to Exim Bank |
|
Short particulars
of the property charged |
Whole of the
Borrower’s Moveable Fixed Assets at Dehradun Unit and Thol Unit, both present
and future more specifically described in Schedule III to the Deed of
Hypothecation attached herewith. |
Fixed Assets:
·
Brand Equity
·
Land]
·
Building
·
Plant and Machinery
·
Electrical Installation
·
Computers
·
Office Equipments
·
Furniture and Fixture
·
Vehicles
AS PER WEBSITE:
History:
1983 was the year in which Troikaa was founded. Commercial
activities commenced in the year 1984.
The beginnings were modest. They had a small factory and
employee strength of the company was 15. Constant innovation and aggressive
marketing have resulted in a steady growth for Troikaa Pharmaceuticals Limited
Today they can boast of an impressive corporate office at
Ahmedabad, two state of the art manufacturing facilities one each at Ahmedabad
and Dehradun, four marketing divisions and more than 1100 employees, including
the international operations.
Troikaa has big dreams and a major expansion plan for the
future. Troikaa has already acquired 65 acres of land near Ahmedabad and the
first quarter of 2009 will see Troikaa beginning the process of setting up
manufacturing facilities for various dosage forms at this location, as per the
US FDA/UK MHRA standards. The coming year will also see the company expand its
marketing network both in India as well as in international markets. “The
expected expansion plan in India will bring the sales force around 2000.”
The company is focused on developing Novel Drug Delivery
Systems. Six patents have been filed in various areas of drug delivery. The
first NDDS has been introduced in India under brand name Dynapar AQ- world’
only diclofenac which can be injected in the deltoid (arm) muscle. Dynapar AQ
offer multiple benefits over the conventional diclofenac injections (
Voltarol/Voltaren) , as established by multicentric clinical trials. Dynapar AQ
is ranked No2 by ORG-IMS , in India. The No1 brand ( Voveran- Novartis)
is de growing @11 % , whereas Dynapar AQ is growing @ 17 % . Dynapar AQ will
soon become the No. 1 brand in diclofenac in India.
Marketing
Division:
Spectra:
Spektra is the flagship division of Troikaa Pharmaceuticals
Limited. Spektra has a diverse portfolio of over 50 brands in the therapy areas
of Pain management, Nutraceuticals, Gynaecology and Digestives. Spektra has attained
leadership in key segments of Pain management by introducing several
proprietary technology platforms.
Aura:
premium cardiac division with the
motto of "Concern for the Heart" contributes to major share of total business
turnover. Aura is today known in the industry for its flagship brands like
Troynoxa, Myonit SR, Myonit Insta, Myonit Inj., Feno-TG, Feno TG Plus,
Eurythmic and Zyltan.
Novogen:
The branded generic division caters to a specific need of
the pharma market. Novogen division offers products for leading common ailments
such as fever, cough, cold, diarrhea, body ache and infections at reasonable
price. The objective is to help those patients who cannot afford costly branded
medicines. Novogen offers an effective and economic alternative medicines.
Hospitroy:
Hospitroy division is the newest addition to Troikaa's many
divisions in an endeavor to serve more and more customers with quality products
and services launched in January 2006, Hospitroy has a total field force of 130
people all over India. Their core customers are Hospitals and Institutions
doctors and will reach close 5,000 Hospitals all over India. With the motto of
"Quality First", Hospitroy has a significant presence in institutional
markets including Defense Establishments, Director General of Supplies and
Disposals (DGSandD), Armed Forces Medical Stores Depot (AFMSM), Director
General of Health Services (DGHS), Employees State Insurance Corporation
(ESIC), Central Government Health Services (CGHS), Railways, Postal and
Telegraph (PandT) and Various State Government Institutions and Government
Aided Medical Schemes.
People:
The 1000 strong human capital nurtured through continuous
training and development program, Workshops and System reviews. Employees work
in modern environment, which facilitates and encourages learning, participation
and out of box thinking. All of which are conducive to organisation creativity.
Manufacturing:
Troikaa's manufacturing facilities are state-of-the-art and
they are certified by the World Health Organisation for following Good
Manufacturing Practices.
Troikaa has the capability to manufacture high quality
Critical Care Injectables, Tablets and Topical preparations. The manufacturing
facilities are at Thol, an industrial area which is 25 Kilometers from
Ahmedabad. The Head office is located at Ahmedabad, the business capital of
Gujarat.
For sustaining its growth Troikaa commissioned one more
state-of-the-art manufacturing plant at Dehradun, Uttaranchal in May 2006.
Innovative
Technology:
Troikaa Pharmaceuticals Limited, a rising healthcare
company, committed to the development, manufacturing and marketing of need and
niche-based products of world class quality for treatment of sickness and
diseases, is located at Ahmedabad, India. The manufacturing facilities are
certified by WHO-GMP certification and the Quality Management Systems are
certified by KVQA to follow ISO 9001:2000 standards for manufacture and supply
of Drugs and Pharmaceuticals.
Presently, the products are available and prescribed in more
than 40 countries across CIS, Asia, Africa and Latin America. The company's
strength lies in its Research and Formulation Development, which has resulted
in development of proprietary Technology Platforms. The formulations developed
from such technology platforms are unique as well as superior to conventional
formulations available in the market. The superiority has been validated by
clinical trials.
Medical
Services:
Troikaa's Medical Services Department, is headed by a
medical doctor.
This department is responsible for providing services by way
of information to the medical fraternity. The publications provide the latest
relevant information to the medical professionals. Queries raised by the
medical practitioners are replied promptly.
Apart from medical information, they also provide other
services like, scientific CDs downloaded from the internet on specific topics,
power point slide presentations, Web Design, Software support and personal
stationary to the medical fraternity.
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.49.25 |
|
UK Pound |
1 |
Rs.80.36 |
|
Euro |
1 |
Rs.62.84 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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 |
|