MIRA
INFORM REPORT
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Report Date : |
18.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
CSC PHARMACEUTICALS |
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Registered Office : |
64 – A, Jasraj Bhuvan, Old Hanuman Lane, 2nd floor,
Princess Street, Mumbai 400002, Maharashtra |
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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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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC12446A |
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PAN No.: [Permanent
Account No.] |
AACFC5078Q |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Pharmaceutical Products. |
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 5000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as commitments. The concern can be considered normal for business dealings at usual trade
terms and condtions. |
INFORMATION PARTED
BY
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Name : |
Mr. Chaitanya Shah |
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Designation : |
Proprietor |
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Contact No.: |
91- 9820321238 |
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Date : |
11.11.2008 |
LOCATIONS
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Registered Office/ Factory : |
64 – A, Jasraj Bhuvan, Old Hanuman Lane, 2nd floor,
Princess Street, Mumbai 400002, Maharashtra, India |
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Tel. No.: |
91-22-40227098 / 65966567 |
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Mobile No.: |
91- 9820321238 (Mr. Chaitanya Shah) |
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Fax No.: |
91-22-22036884 / 25035279 |
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E-Mail : |
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Website : |
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Area : |
500 Sq ft |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Chaitanya Shah |
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Designation : |
Proprietor |
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Date of Birth/Age : |
32 Years |
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Qualification : |
BSC |
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Mobile No. : |
91-9820321238 / 9322280109 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pharmaceutical Products. |
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Products : |
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Exports : |
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Products : |
Pharmaceutical Products |
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Countries : |
All over the world |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL
INFORMATION
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Customers : |
Wholesaler |
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No. of Employees : |
5 |
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Bankers : |
HDFC Bank, Crawford Market Canara Bank, A R Street |
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Facilities : |
(The Concern do not enjoy any facility from its bankers) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Shah and Company Chartered Accountant |
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Address : |
Located at Marine Line |
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Associates/Subsidiaries : |
Chamunda Sales Corporation 64 – A, Jasraj Bhuvan, Old Hanuman Lane, 2nd floor,
Princess Street, Mumbai 400002, Maharashtra, India Activities: Manufacturer of Pharmaceutical
Products |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.000 Million [Estimated] |
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Borrowed : |
-- |
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Total : |
Rs.1.000 Million [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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80.000 |
Expected Sales (2008-09) : Rs.80.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
subject embarked its operations in April'2001 but its experience of the field dates
back to three decades, as the company was actively involved in the formulation
and dispensing of generic medicines all over India.
PROFILE
Subject is a professionally managed fast
growing company, among the spectrum of Indian Pharma Companies, which are
spreading their wings across the globe. The organization strives to discover,
develop and successfully market innovative life saving drug to cure diseases,
to ease suffering, and to enhance the quality of life.
Business Practice
The progressive organization is involved in the manufacturing and exporting of life saving drug, antibacterial drug,
and pharmaceutical products and biopharmaceutical products.
They also export surgical equipment and all medical
accessories for all class of needs right from small clinical labs to big
hospitals to major disaster management operations.
A majority of the global populations lives in developing nations with minimal
facilities of affordable healthcare and sanitation. The major challenges are to
meet the hackles of illiteracy and poverty to provide cheap and affordable
health care facilities to millions of people living across the globe. Their aim
is to do business with a sense of service to the humanity and human race.
Subject has been involved with surgical - pharmaceutical exports, catering to
the demands of various exporters and major export houses across the globe. The
young and dynamic organization is committed to the principles of sustainable
development, with economic growth, ecological integrity and social responsibility
accorded equal priority in its corporate activities throughout the world. CSC
Pharma supplies pharmaceutical drug to major hospitals as well as to major
hospitals as well as various Government bodies and its functionaries both
civilian and defense forces across the globe.
Subject also manufactures essential products in therapeutic segment. They use
state of the art raw materials and modern packaging methods to keep the drug on
par with other major Indian as well as Multinational companies. They offer a
comprehensive drug delivery service from feasibility studies and development
programmes, through clinical trials manufacture and full-scale production.
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.48.99 |
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UK Pound |
1 |
Rs.72.14 |
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Euro |
1 |
Rs.61.57 |
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 |
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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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