MIRA
INFORM REPORT
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Report Date : |
02.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
PAVIOUR PHARMACEUTICALS PRIVATE LIMITED |
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Registered Office : |
311-312, Suneja Tower-1, District Center, Janak Puri, New Delhi – 110
058 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
01.09.1998 |
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Com. Reg. No.: |
55-95875 |
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CIN No.: [Company
Identification No.] |
U24231DL1998PTC095875 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELP08711D |
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PAN No.: [Permanent
Account No.] |
AABCP9154E |
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Legal Form : |
Private Limited Liability of Company |
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Line of Business : |
Traders, Importers and Marketers of pharmaceutical products and drugs. |
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 12220 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track.
Profit margin is low. Trade relations are fair. Payments are reported as slow
but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
311-312, Suneja Tower-1, District Center, Janak Puri, New Delhi – 110
058, India |
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Tel. No: |
91-11-5542181/2182/41587181 |
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Fax No: |
91-11-25542183 |
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E-Mail : |
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Area : |
1500 sq ft |
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Location : |
Owned |
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Factory 1 : |
412,Suneja Tower- 1, District Centre, Janak Puri, New Delhi – 110 058,
India |
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Tel. No: |
91-11-5542181/2182/41587181 |
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Fax No: |
91-11-25542183 |
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Branches / Office : |
301, 3rd Floor, Damji Shamji Industrial Complex, 9, L.B.
Shastri Marg, Kurla (W), Mumbai-400 070 |
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Tel. No: |
91-22-25122551 |
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E-Mail : |
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Distributor : |
Located at: Andhra Pradesh
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DIRECTORS
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Name : |
Mrs. Neeru Sawhney |
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Designation : |
Director-Finance |
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Address : |
A 1/238, Janak Puri New Delhi – 110 058, India |
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Date of Birth/Age : |
17.11.1965 |
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Date of Appointment : |
01.09.1998 |
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Name : |
Mr. Anil Sawhney |
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Designation : |
Director-Marketing |
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Address : |
A 1/238, Janak Puri New Delhi – 110 058, India |
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Date of Birth/Age : |
24.09.1962 |
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Qualification : |
Graduate |
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Experience : |
10 Years |
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Date of Appointment : |
01.09.1998 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mrs. Neeru Sawhney |
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25000 |
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Mr. Anil Sawhney |
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25000 |
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Total |
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50000 |
(As On 12.11.2007)
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Names of Allottees |
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No. of Shares |
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Mrs. Neeru Sawhney |
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50000 |
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Mr. Anil Sawhney |
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50000 |
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Total |
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100000 |
Equity share breakup (percentage of total equity)
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Category |
Percentage |
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Directors or relatives of director |
100 |
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Total |
100 |
BUSINESS DETAILS
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Line of Business : |
Traders, Importers and Marketers of pharmaceutical products and drugs. |
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Product : |
Biotest Product :
Cangene Products :
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Agency Held : |
Biotest Pharma GmbH, Germany |
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Terms : |
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Selling : |
Cash or Credit (30/60 days) terms |
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Purchase : |
L/C, D/P or Credit upto 60/90 days terms |
GENERAL
INFORMATION
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No. of Employees : |
37 |
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Customer : |
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Bankers : |
Sagar Tower District Centre, Janak Puri, New Delhi – 110 058, Delhi,
India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
H. K. Kotwalia and Company |
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Address : |
18/2, 2nd Floor, Old Rajinder Nagar, New Delhi – 110 060,
Delhi, India |
CAPITAL STRUCTURE
(As On 25.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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 |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.944 |
1.402 |
1.386 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.444 |
1.902 |
1.886 |
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LOAN FUNDS |
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1] Secured Loans |
2.740 |
1.008 |
0.113 |
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2] Unsecured Loans |
0.408 |
0.496 |
1.110 |
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TOTAL BORROWING |
3.148 |
1.504 |
1.223 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.016 |
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TOTAL |
5.592 |
3.406 |
3.125 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.987 |
2.983 |
1.900 |
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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 |
0.101 |
0.058 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
14.152
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8.874 |
0.000 |
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Sundry Debtors |
8.672
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4.748 |
8.040 |
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Cash & Bank Balances |
2.289
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0.296 |
0.104 |
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Other Current Assets |
0.000
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0.000 |
5.947 |
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Loans & Advances |
1.444
|
0.363 |
0.594 |
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Total
Current Assets |
26.557
|
14.281 |
14.685 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
23.609
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13.652 |
13.266 |
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Provisions |
0.444
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0.264 |
0.194 |
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Total
Current Liabilities |
24.053
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13.916 |
13.460 |
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Net Current Assets |
2.504
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0.365 |
1.225 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.592 |
3.406 |
3.125 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover and Other Income |
80.603 |
45.889 |
43.108 |
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Total Income |
80.603 |
45.889 |
43.108 |
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Profit/(Loss) Before Tax |
1.178 |
0.538 |
0.627 |
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Provision for Taxation |
0.636 |
0.522 |
0.232 |
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Profit/(Loss) After Tax |
0.542 |
0.016 |
0.395 |
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Expenditures : |
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Depreciation & Amortization |
0.572 |
0.758 |
0.346 |
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Other Expenditure |
78.853 |
44.593 |
42.135 |
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Total Expenditure |
79.425 |
45.351 |
42.481 |
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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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PAT / Total Income |
(%) |
0.67
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0.03 |
0.91 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.46
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1.17 |
1.45 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.97
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3.10 |
3.78 |
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Return on Investment (ROI) (PBT/Networth) |
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0.48
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0.28 |
0.33 |
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Debt Equity Ratio (Total Liability/Networth) |
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11.12
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8.10 |
7.78 |
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Current Ratio (Current Asset/Current Liability) |
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1.10
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1.02 |
1.09 |
LOCAL AGENCY
FURTHER INFORMATION
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
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90039357 |
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Corporate
identity number of the company |
U24231DL1998PTC095875 |
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Name of the
company |
Paviour
Pharmaceutical Private Limited |
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Address of the
registered office or of the principal place of business in India of the company |
311-312, Suneja
Tower, Idist Centre, Janak Puri, New Delhi – 110 058, Delhi, India |
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Type of charge |
Book Debts Others |
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Particular of
charge holder |
State Bank of
India Sagar Tower,
District Centre, Janak Puri, New Delhi -110 058, Delhi, India |
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Nature of
description of the instrument creating or modifying the charge |
Letter of
Arrangement dated 07.09.2007 |
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Date of
instrument Creating the charge |
07.09.2007 |
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Amount secured by
the charge |
Rs.11.900
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at 0.25%
below The State Bank Advance Rate (SBAR)with a minimum of 12.50% p.a.,
Presently the effective rate is 12.50% p.a Terms of
Repayment The cash Credit
shall be payable on demand. The cash credit is available for 12 months from
the date of sanction subject to review every 12 months. Margin Fund Based
Limits: 20% Extent and
Operation of the charge The cash credit
is primarily secured by hypothecation of stock and book debts of the company.
In addition the charge is collaterally secured against the immovable
properties and third party guarantee of directors. Others |
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Short particulars
of the property charged |
The cash credit
is primarily secured by hypothecation of stock and book debts of the company.
In addition the charge is collaterally secured against the immovable
properties and third party guarantee of directors. |
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Date of latest
modification prior to the present modification |
18.02.2006 |
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Particulars of
the present modification |
The limit has
been increased from Rs.7.500 Millions to Rs.11.900 Millions |
Web Details :
Subject was incorporated in 1998 with the objectives of Importing, Marketing and Distribution various Health Care Products which are not indigenously produced and accordingly Company has made Marketing Agreement with M/s. Biotest Pharma in 1999 and M/s. Cangene Corporation in 2005 for market their Plasma Derivatives in India.
In the past lot of years, the Company has expanded its activities and has been able to establish vast marketing and distribution network covering all corners of India.
The Company has steadily built its nishe expertise acquired
new skills and strengthened its relations with Pediatricians, Neonatologists,
Haematolgists, Burns & Plastic Surgeon, Gynecologists, Physicians,
Intensives etc. all over India.
Trade Reference :
- Biotech Pharma, Germany
- Meditech Pharma India Private
Limited, India
- Medihauxe International, 2676 /
20, 11th Main, D Block, 2nd Stage, Rajaji Nagar,
Bangalore, Karnataka
- Medihauxe International, 6A,
Vengal Rao Nagar, Sanjeeva Reddy, Hyderabad, Andhra Pradesh
- Arihant Distributors, E Block,
Ranjit Studio Compound, Dadasaheb Phalke Road, Dadar, Mumbai
- Parekh & Parekh Medical
Centre, 14, Parekh House, Mama Parmanand Marg, Mumbai
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.96 |
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UK Pound |
1 |
Rs.83.91 |
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Euro |
1 |
Rs.66.36 |
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 |
4 |
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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 |
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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44 |
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 |
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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 |
|
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 |
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