MIRA
INFORM REPORT
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Report Date : |
12.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
SEHAT PHARMA PRIVATE LIMITED |
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Registered Office : |
Saugadh, Idar Highway Road, Taluka Himatnagar, District Sabarkantha –
383001, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
18.04.1995 |
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Com. Reg. No.: |
04-25492 |
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CIN No.: [Company
Identification No.] |
U24231GJ1995PTC025492 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMS08961B |
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PAN No.: [Permanent
Account No.] |
AAHCS5170K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers, Exporters and Suppliers
of Pharmaceutical Formulation such as Ethical, Injectable, Export, Generic, Herbal and
Veterinary. |
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 6000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a small company having moderate track. Trade relations are
fair. Payments are slow and delayed. The company can be considered for small to mediocre business dealings. |
LOCATIONS
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Registered Office : |
Saugadh, Idar Highway Road, Taluka Himatnagar, District Sabarkantha –
383001, Gujarat, India |
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Tel. No.: |
91-2772-222153 |
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Mobile No.: |
91-9375656204/ 9824049750 |
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E-Mail : |
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Factory : |
Lala Estate, Outside Mehtapura Railway Crossing, Sevagadh, Himatnagar
– 383001, Gujarat, India |
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Tel. No.: |
91-2772-222153/ 222718 |
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Fax No.: |
91-2772-222718/ 245875 |
DIRECTORS
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Name : |
Mr. Makbulhusen Ibrahimbhai Lala |
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Designation : |
Director |
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Address : |
Madina Masjid, Polo Ground, Sabarkntha, Himat Nagat – 383001, Gujarat,
India |
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Date of Birth/Age : |
17.12.1976 |
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Date of Appointment : |
18.04.1995 |
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Name : |
Mr. Zakirhusen M. Lala |
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Designation : |
Director |
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Address : |
Madina Masjid, Polo Ground, Sabarkntha, Himat Nagat – 383001, Gujarat,
India |
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Date of Birth/Age : |
08.10.1977 |
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Date of Appointment : |
01.03.2001 |
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Name : |
Mr. M. Ishhak I. Lala |
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Designation : |
Director |
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Address : |
Madina Masjid, Polo Ground, Sabarkntha, Himat Nagat – 383001, Gujarat,
India |
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Date of Birth/Age : |
18.03.1978 |
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Date of Appointment : |
01.03.2001 |
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Name : |
Mr. M. Asif A. Lala |
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Designation : |
Director |
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Address : |
Madina Masjid, Polo Ground, Sabarkntha, Himat Nagat – 383001, Gujarat,
India |
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Date of Birth/Age : |
27.10.1955 |
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Date of Appointment : |
30.05.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 13.08.2008)
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Names of Shareholders |
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No. of Shares |
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Makbulhusen Ibrahimbhai Lala |
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25000 |
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M. Asif A. Lala |
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25000 |
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M. Ishhak I. Lala |
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25000 |
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Zakirhusen M. Lala |
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25000 |
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Total |
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100000 |
(As on 31.03.2008)
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Category |
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Percentage
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Directors or relatives of director |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, exporters and suppliers
of Pharmaceutical Formulation such as Ethical, Injectable, Export, Generic, Herbal and
Veterinary. |
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Products : |
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GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
100 |
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Bankers : |
Himatnagar Branch, Himatnagar,
Sabarkantha, Gujarat, India
Himatnagar Branch, New Bazar, Himatnagar – 383001, Gujarat, India |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
B J Patel and Associates Chartered Accountant |
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Address : |
505, Sers Tower Gulbai Tekra Road, Panchvati, Ahmedabad – 380006,
Gujarat, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.110 |
0.078 |
0.073 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.110 |
1.078 |
1.073 |
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LOAN FUNDS |
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1] Secured Loans |
1.122 |
1.454 |
0.293 |
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2] Unsecured Loans |
5.875 |
5.258 |
4.238 |
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TOTAL BORROWING |
6.997 |
6.712 |
4.531 |
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DEFERRED TAX LIABILITIES |
0.123 |
0.102 |
0.075 |
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TOTAL |
8.230 |
7.892 |
5.679 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.377 |
3.302 |
3.332 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
3.202
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3.286 |
2.172 |
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Sundry Debtors |
3.886
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2.780 |
2.195 |
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Cash & Bank Balances |
0.154
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0.225 |
0.147 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.031
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0.012 |
0.031 |
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Total
Current Assets |
7.273
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6.303 |
4.545 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
2.391
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1.690 |
2.198 |
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Provisions |
0.029
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0.023 |
0.000 |
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Total
Current Liabilities |
2.420
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1.713 |
2.198 |
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Net Current Assets |
4.853
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4.590 |
2.347 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
8.230 |
7.892 |
5.679 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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20.000 |
NA |
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Other Income |
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0.000 |
NA |
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Total Income |
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20.000 |
NA |
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Profit/(Loss) Before Tax |
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0.082 |
0.055 |
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Provision for Taxation |
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0.051 |
0.050 |
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Profit/(Loss) After Tax |
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0.031 |
0.005 |
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Expenditures : |
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Depreciation & Amortization |
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0.301 |
0.302 |
KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
0.16
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.41
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.77
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0.57 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.07
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0.05 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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8.48
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7.82 |
6.27 |
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Current Ratio (Current Asset/Current Liability) |
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3.01
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3.68 |
2.07 |
LOCAL AGENCY
FURTHER INFORMATION
Performance and
Progress:
The company has excellent increase in sales by almost 1.3 times of the
last year turnover and earned profit almost 1.5 times of the last years. The
company required more funds for expansion and increased operations, the
directors regret for not declaring any dividend during the years.
Form 8:
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Corporate
identity number of the company |
U24231GJ1995PTC025492 |
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Name of the
company |
SEHAT PHARMA PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Saugadh, Idar Highway Road, Taluka Himatnagar, District Sabarkantha –
383001, Gujarat, India |
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This form is for |
Creation of
charge |
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Type of charge |
Hypothecation |
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Particular of
charge holder |
Bank of Baroda Himatnagar Branch, New Bazar, Himatnagar – 383001, Gujarat, India |
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Nature of
instrument creating charge |
Hypothecation
Agreement Memorandum of
deposit of Title deeds |
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Date of instrument
Creating the charge |
12.07.2006 |
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Amount secured by
the charge |
Rs.1.600 Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interests
– 10.7% for terms Loans and % for CC , Margin – 25% |
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Particulars of
the property charged |
Immovable
Property Stock in Trade Plant and
Machinery Book Debts Furniture and
Fixture Vehicles Chemicals, salt,
Pharma, Raw Materials, Drugs and packaging Materials, Book Debts, Machinery etc.,
at Survey No.553 at Savgadh and building at S No.553, Plot No.5 and 6,
Savghadh, Tal, Himatnagar |
Fixes Assets:
- Plant and Machinery
- Land
- Building
- Furniture
- Computers
- Scooter
- Indica - Car
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.47.59 |
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UK Pound |
1 |
Rs.74.55 |
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Euro |
1 |
Rs.60.57 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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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27 |
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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