MIRA
INFORM REPORT
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Report Date : |
08.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
PHARMACO INDUSTRIES |
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Registered Office : |
B-2/17,
'Anubabdh', Near Ramkrishna Math, Dandekar Bridge, |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
2001 |
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PAN No.: [Permanent
Account No.] |
AGLPG8463 C |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Liquid Processing and Bottling Machinery |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
USD 10000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small concern having moderate track. It’s payments are
reported as slow but correct. Trade relations are fair. The concern can be considered for small business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Saumitra M Ghotikar |
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Designation : |
Proprietor |
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Contact No.: |
91-9850997110 / 9822478111 |
LOCATIONS
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Registered Office : |
B-2/17,
'Anubabdh', Near Ramkrishna Math, Dandekar Bridge, |
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Tel. No.: |
91-20-65706009 |
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Mobile No.: |
91-9822478111 / 98509 97110 |
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Fax No.: |
91 - 20 -
24391953 |
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E-Mail : |
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Website : |
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Area : |
800 Sq.fts |
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Location : |
Owned |
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Factory : |
Survey No. 149, Ganesh Nagar, Lane Opposite
Amar Medical Stores, Vadagaon
Dhayari, off Sinhgad Road, Pune - 411 030, Maharashtra, India |
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Area : |
1000 Sq.fts |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. S M Ghotikar |
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Designation : |
Proprietor |
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Date of Birth/Age : |
43 years |
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Qualification : |
M. Engineering |
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Experience : |
20 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Liquid Processing and Bottling Machinery |
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Products : |
· Liquid Preparation , Storage, Mixing etc · Filteration , Transfer etc · Bottle Washing · Bottle Filling · Bottlle Capping · Labeling · Conveying, Feeding and Packing · Ointment / Cream Machinery · Automatic Line |
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Terms : |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
14 (4 in Office and 10 in Factory) |
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Bankers : |
ICICI Bank, Pune – 411 030, Maharashtra, India |
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Facilities : |
The concern does not enjoy any facility from its bankers |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Thite and Company Chartered Accountants |
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Address : |
Pune – 411 030, Maharashtra, India |
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Associates/Subsidiaries : |
Venture Solutions, Pune – 411 030, Maharashtra, India Activity: Packaging Drinking Water Plant |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 millions (Estimated) |
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Borrowed : |
---- |
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Total : |
Rs. 2.000 millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 (Estimated) |
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Sales Turnover |
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8.500 |
Expected Sales (2008-09): Rs.10.000 millions
LOCAL AGENCY FURTHER
INFORMATION
TRADE REFERENCES:-
· Amrut Pharmaceuticals Private Limited, Belgaum
· Glaxo India Limited, Nashik
· Vogen Laboratories Limited, Chennai
WEBSITE DETAILS:-
Concern profile:
The concern specialises in the held of liquid
processing and Bottling Machinery. From more than 10 Years, they have dealt
with clients all over India and a few abroad as well Herbal Cosmetics,
Pesticides, Agro chemicals etc . To segments like pharmaceuticals, they provide
complete machinery for liquid section - manufacturing and bottling, pouch -
packing
also.
To Segments like Tomato Sauce,
Flavoured Milk etc. They provide Bottling Machines, to
Segments like Water Treatment Equipments, they provide complete plant set –up
with a panel of experts. These products includes D. M. Water Products,
R-O-Systems etc. Besides these activities, they also assist their Clients to
locate the packaging materials like Bottles, Caps, etc. They have a full
–fledged Manufacturing Set-up at Sinhagad Road, Pune, India
Well control to all parts of the country and has an International Air –fort as
well.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.76 |
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UK Pound |
1 |
Rs.74.87 |
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Euro |
1 |
Rs.60.81 |
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 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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37 |
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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