MIRA
INFORM REPORT
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Report Date : |
22.11.2008 |
IDENTIFICATION DETAILS
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Name : |
AMRI INDIA PRIVATE LIMITED |
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Registered Office : |
Plot No.G-39/5, MIDC Industrial Area, Waluj, |
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Country : |
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Financials (as on) : |
31.03.2007 – (FINEKEM LABORATORIES PRIVATE LIMITED) |
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Date of Incorporation : |
07.04.2007 |
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Com. Reg. No.: |
169746 |
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CIN No.: [Company
Identification No.] |
U74999MH2007FT169746 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA30116C |
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PAN No.: [Permanent
Account No.] |
AAGCA2555H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of API Generic |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Finekem has been merged with AMRI India Private Limited w.e.f. April
2008 as confirmed by the management. However, the management declined to part
with latest financials. The financials mentions in the report pertains to
Finekem Laboratories Prior to merger. Trade relations are fair. No further
details or payment records could be made available. The company can be considered for any business dealings on safe and
secured terms, initially. |
INFORMATION PARTED BY (GENERAL DETAILS)
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Name : |
Ms. Mamta Saxena |
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Designation : |
Accountant |
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Date : |
12.11.2008 |
LOCATIONS
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Registered Office : |
Plot No.G-39/5, MIDC Industrial Area, Waluj, |
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Tel. No.: |
91-240-2561229/ 2552028 |
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Fax No.: |
91-240-2560213/ 2359233 |
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E-Mail : |
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Website : |
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Corporate Office : |
12th Floor, Corporate Part II, V. N. Purav Marg, (Sion Trombay Road), Chembur Mumbai – 400071,
Maharashtra, India |
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Tel. No.: |
91-22-67745000/02 |
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Fax No.: |
91-22-67745010 |
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Locations : |
Rented |
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Factory : |
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Email : |
DIRECTORS
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Name : |
Mr. Rakesh Arun Doshi |
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Designation : |
Director |
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Address : |
8 Sri Nilayam, 182 Garodia Nagar, Ghatkopar (East), Mumbai – 400077, |
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Date of Birth/Age : |
04.02.1964 |
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Date of Appointment : |
21.06.2005 |
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Email : |
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Name : |
Mrs. Usha Rakesh Doshi |
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Designation : |
Director |
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Address : |
8 Sri Nilayam, 182 Garodia Nagar, Ghatkopar (East), Mumbai – 400077, |
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Date of Birth/Age : |
31.08.1963 |
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Date of Appointment : |
05.02.2006 |
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Name : |
Mr. Michael Paul Williams |
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Designation : |
Director |
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Address : |
14, |
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Date of Birth/Age : |
10.04.1958 |
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Date of Appointment : |
17.01.2008 |
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Email : |
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Name : |
Mr. Prasad Raje |
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Designation : |
Director |
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Date of Birth/Age : |
48 years |
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Name : |
Mr. Vinod Goswami |
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Designation : |
Director |
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Address : |
A-17, Old Sindhi Colony, Sahijpur Bogha, Ahmedabad – 382345, |
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Date of Birth/Age : |
10.10.1978 |
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Date of Appointment : |
09.04.2007 |
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Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 20.09.2007) (FINEKEM LABORATORIES
PRIVATE LIMITED)
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Names of Shareholders |
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No. of Shares |
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Rakesh Arun Doshi |
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318500 |
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Usha Rakesh Doshi |
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20000 |
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Total |
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338500 |
(As on 30.09.2007)
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Category |
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Percentage
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of API Generic |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
L/C, and Credit (30 days) |
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Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
32 |
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Bankers : |
Ghatkopar (West) Branch, Mumbai, |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Gunvant Patil and Associates Chartered Accountant |
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Address : |
1st Floor, Satya Dham Complex, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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338500 |
Equity Shares |
Rs.10/- each |
Rs.3.385 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
(FINEKEM LABORATORIES PRIVATE LIMITED)
ABRIDGED BALANCE
SHEET
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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 |
3.385 |
3.385 |
0.100 |
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2] Share Application Money |
4.850 |
2.700 |
5.684 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(8.168) |
(1.792) |
(1.378) |
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NETWORTH |
0.067 |
4.293 |
4.406 |
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LOAN FUNDS |
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1] Secured Loans |
22.871 |
15.947 |
5.444 |
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2] Unsecured Loans |
3.565 |
2.310 |
0.000 |
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TOTAL BORROWING |
26.436 |
18.257 |
5.444 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
26.503 |
22.550 |
9.850 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
21.223 |
20.342 |
7.998 |
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Capital work-in-progress |
0.000 |
0.000 |
0.131 |
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INVESTMENT |
0.448 |
0.285 |
0.242 |
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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 |
6.632
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3.229 |
2.756 |
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Sundry Debtors |
1.935
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0.104 |
0.004 |
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Cash & Bank Balances |
0.005
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0.042 |
0.021 |
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Other Current Assets |
0.000
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0.000 |
0.386 |
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Loans & Advances |
2.339
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1.523 |
0.000 |
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Total
Current Assets |
10.911
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4.898 |
3.167 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
7.178
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4.024 |
1.688 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
7.178
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4.024 |
1.688 |
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Net Current Assets |
3.733
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0.874 |
1.479 |
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MISCELLANEOUS EXPENSES |
0.042 |
0.042 |
0.000 |
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Goodwill |
1.057 |
1.007 |
0.000 |
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TOTAL |
26.503 |
22.550 |
9.850 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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501.70
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5.19 |
1.62 |
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Current Ratio (Current Asset/Current Liability) |
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1.52
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1.22 |
1.88 |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
- Intas
Pharmaceuticals
- Sun Pharma
- Nicholas
Piramal
Fixed Assets:
- Land
- Building
- Plant and Machinery
- Electrification
- Mobile Hand Set
- Office Equipment
- Computer
- Lab Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
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] 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.50.03. |
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1 |
Rs.74.42 |
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Euro |
1 |
Rs.62.71 |
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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