MIRA
INFORM REPORT
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Report Date : |
14.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
COOPER PHARMA LIMITED |
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Registered Office : |
12/12, Shakti Nagar, Gulab Baug, Delhi – 110 007 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.02.1989 |
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Com. Reg. No.: |
55-34902 |
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CIN No.: [Company
Identification No.] |
U24231DL1989PLC034902 |
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IEC No.: |
0507060792 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELC06663G |
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PAN No.: [Permanent
Account No.] |
AABCC9493R |
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Legal Form : |
A closely held public limited liability company |
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Line of Business : |
Manufacturer, Exporter and Importer of Capsules and Tablets. |
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 61000 |
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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 and reputed company meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Yakesh |
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Designation : |
Accountant |
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Contact No.: |
91-9811350276 |
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Date : |
13.10.2008 |
LOCATIONS
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Registered Office : |
12/12, Shakti Nagar, Gulab Baug, Delhi – 110 007, India |
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Tel. No.: |
91-11-23653537 / 27425242 |
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Mobile No.: |
91-9810688849 |
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E-Mail : |
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Website : |
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Area : |
1000 Sq. ft. |
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Location : |
Owned |
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Branch Office/Factory : |
Plot No. 5, Nidhi Plaza, Secound Floor, Local Shopping Centre, Gulabi
Bagh, Shakti Nagar, New Delhi – 110 052, India |
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Tel. No.: |
91-11-23653404 / 23653405 / 23653537 - 39 |
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Mobile No.: |
91-9810348149 / 9810688849 |
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Fax No.: |
91-11-23653540 |
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Fax(US) : |
1-760-2284-5903 |
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Area : |
2000 Sq. ft. |
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Location : |
Owned |
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Factory 2 : |
C-3, Selaqui Industrial Area, Chakrata Road, Dehradun,
Uttarakhand – 248197, India |
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Area : |
2 Acre |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Rakesh Bhargava |
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Designation : |
Director |
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Address : |
12/12, Shakti Nagar, Delhi – 110 007, India |
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Date of Birth/Age : |
28.05.1950 |
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Date of Appointment : |
02.02.1989 |
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Name : |
Mrs. Lata Bhargava |
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Designation : |
Director |
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Address : |
12/12, Shakti Nagar, Delhi – 110 007, India |
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Date of Birth/Age : |
05.08.1952 |
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Date of Appointment : |
02.02.1989 |
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Name : |
Mr. Ashish Bhargava |
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Designation : |
Director |
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Address : |
12/12, Shakti Nagar, Delhi – 110 007, India |
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Date of Birth/Age : |
19.07.1975 |
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Date of Appointment : |
16.02.1995 |
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Name : |
Mr. Anush Bhargava |
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Designation : |
Director |
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Date of Birth/Age : |
34 Years |
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Name : |
Mr. Abhishek Bhargava |
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Designation : |
Director |
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Date of Birth/Age : |
29 Years |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2004)
|
Names of Shareholders |
No. of Shares |
|
Rakesh Bhargava |
3149 |
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Lata Bhargava |
3099 |
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Ashish Bhargava |
160 |
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S P Bhargava |
10 |
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Anil Bhargava |
10 |
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Suresh Khandelwal |
10 |
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Anjana Bhargava |
10 |
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Total |
6448 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2008)
|
Category |
Percentage |
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Directors or relatives of directors |
99.70 |
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Other top fifty (50) shareholders |
0.30 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Capsules and Tablets. |
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Products : |
Branded ·
Anti-Infective/Anti-Bacterial ·
Food
Supplement and Vitamins ·
Analgesic and
Anti-Inflammatory ·
Anti-Cold/Anti-Histaminic/Allergic
Broncholidators ·
Aphrodisiacs ·
Anti-Anxiolitic/Anti
Depressents/ Anti-Emetic and Psychotropic Drugs ·
Antacid/Anti-Ulcerent
and Anti-Filatulent and Relating To Alimentory Canal ·
Enzymes ·
Anti-Tubercular ·
Anti-Amoebic/Anti-Diarrhoeis ·
Anti-Septic ·
Anti-Fungal ·
Herbal ·
Anti-Infective/Anti-Amoebic ·
Anti-Spasmodic ·
Cordico
Steroids ·
Anasthetics ·
Anti-Malarias ·
Anti-Anietic ·
Anthelmuntic ·
Anti-Infective/Anti-Inflammatory
Generic ·
Tablets ·
Capsules ·
Syrups ·
Patent and Proprietory
Products ·
Herbal
Products ·
Multivitamin
Products ·
Injections |
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Exports : |
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Countries : |
·
Dubai ·
China ·
U.A.E. |
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Imports : |
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Countries : |
·
China ·
Italy ·
Nigeria |
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Terms : |
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Selling : |
L/C – T/T |
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Purchasing : |
L/C |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
50 |
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Bankers : |
Punjab National Bank Alipur Road, Civil Lines, New Delhi – 110 054, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
·
K C Gupta Chartered Accountants Address : 101, Sita Ram
Mansion, 718/21, Joshi Road, Karol Bagh, New Delhi – 110 005, India ·
P C Bindal and Company (Virender Gupta) Chartered Accountants Address : 101, Sita Ram Mansion,
718/21, Joshi Road, Karol Bagh, New Delhi – 110 005, India |
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Associates/Subsidiaries : |
Dynamic Laboratories |
CAPITAL STRUCTURE
(As on 30.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
10.000 |
0.645 |
0.645 |
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2] Share Application Money |
0.000 |
5.065 |
2.138 |
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3] Reserves & Surplus |
2.239 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
12.239 |
5.710 |
2.783 |
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LOAN FUNDS |
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1] Secured Loans |
27.525 |
5.003 |
0.000 |
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2] Unsecured Loans |
2.896 |
7.154 |
0.019 |
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TOTAL BORROWING |
30.421 |
12.157 |
0.019 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
42.660 |
17.867 |
2.802 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
53.204 |
16.236 |
2.699 |
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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 |
7.223
|
0.000 |
0.000 |
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Sundry Debtors |
1.433
|
0.000 |
0.000 |
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Cash & Bank Balances |
0.245
|
4.528 |
0.314 |
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Other Current Assets |
0.000
|
0.157 |
0.100 |
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Loans & Advances |
0.219
|
0.023 |
0.023 |
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Total
Current Assets |
9.120
|
4.708 |
0.437 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
19.664
|
3.824 |
0.623 |
|
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Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
19.664
|
3.824 |
0.623 |
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Net Current Assets |
(10.544)
|
0.884 |
(0.186) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.747 |
0.289 |
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TOTAL |
42.660 |
17.867 |
2.802 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
4.614 |
0.000 |
0.000 |
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Other Income |
0.000 |
0.002 |
0.000 |
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Total Income |
4.614 |
0.002 |
0.000 |
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Profit/(Loss) Before Tax |
2.240 |
(0.458) |
(0.152) |
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Provision for Taxation |
0.000 |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
2.240 |
(0.458) |
(0.152) |
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Expenditures : |
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Raw Material Consumed |
1.175 |
0.000 |
0.000 |
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Consumption of stores and spares parts |
0.044 |
0.000 |
0.000 |
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Salaries, Wages, Bonus, etc. |
0.129 |
0.090 |
0.018 |
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Payment to Auditors |
0.016 |
0.008 |
0.005 |
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Interest |
0.220 |
0.003 |
0.000 |
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Power & Fuel |
0.148 |
0.075 |
0.008 |
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Depreciation & Amortization |
0.191 |
0.004 |
0.004 |
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Other Expenditure |
0.451 |
0.280 |
0.117 |
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Total Expenditure |
2.374 |
0.460 |
0.152 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
48.55
|
(22900.00) |
0.00 |
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Net Profit Margin (PBT/Sales) |
(%) |
48.55
|
0.00 |
0.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.59
|
(2.19) |
(4.85) |
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Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
(0.08) |
(0.05) |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.09
|
2.80 |
0.23 |
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|
Current Ratio (Current Asset/Current Liability) |
|
0.46
|
1.23 |
0.70 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
·
Alpa Expoin Private Limited, Gwalior
·
Jumana Pharma, Dubai
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Additional
Requirement of Indiamart for Trust-Seal |
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Service Tax No. : -- |
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Excise Registration No.: -- |
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VAT / TIN : 05005663758 |
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IEC Code : 0507060792 |
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PAN / TAN : AABCC9493R |
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Bank Name : Punjab National Bank |
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Bank Address : Alipur Road, Civil Lines, New Delhi – 110 054,
India |
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Bank A/c. No.: 0115008700001977 |
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Account Since : 1989 |
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In case of any affiliations / memberships / certifications : |
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Name : ISO |
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Type : 9001:2000 |
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Expiry Date : AGSI/Q/993
Date Issue 13.09.2008 Date Expiry
02.09.2011 |
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Form No. 8
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Corporate
identity number of the company |
U24231DL1989PLC034902 |
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Name of the
company |
COOPER PHARMA LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
12/12, Shakti Nagar, Gulab Baug, Delhi – 110 007, India |
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This form is for |
Creation of
charge |
|
Type of charge |
·
Book debts ·
Others o
Hypothecation
of Stocks |
|
Particular of
charge holder |
Punjab National Bank Alipur Road, Civil Lines, New Delhi – 110 054, India |
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Nature of
instrument creating charge |
Hypothecation of
Current Assets Agreement |
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Date of
instrument Creating the charge |
20.03.2007 |
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Amount secured by
the charge |
Rs.15.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
interest At BPLR presently effective @ 12.25% p.a. on monthly rest or such other
rate (s) specified by the Bank from time to time. ·
Terms of
repayment On Demand ·
Margin Stock – 25% Boo Debts – 40% ·
Extent and
operation of the charge First charge on entire stocks and book debts and other current assets of
the Company both present and future. ·
Others The above is to secure Cash Credit (Stock) Rs.10.000 millions and Cash
Credit (Book Debts) Rs.5.000 millions. |
|
Particulars of
the property charged |
Stocks and Book
Debts and other current assets lying in the Company’s Factory, Godowns,
Premises or any where else including those in transit. |
Web Details
Profile
Subject headquartered in Delhi, the proud capital of India, has a powerful
element of social responsibility inscribed in its' values and its' concern for
the society beyond its' business motives. Alleviation of the sufferings of
mankind, availability of the medicines to all at affordable price without any
discrimination and continued efforts to improve the quality of the medicines,
are the values and mission. The company's principal activity is manufacturing
of Pharmaceutical products for multiple therapeautic fields. Company operates
in total compliance with the GMP norms set by the W.H.O., Customer satisfaction
has always drawn subject strategies and attitudes. From the very beginning the
company committed itself to supplying consumers with reliable medicaments,
combining effectiveness, quality safety and competitive prices. The parent
company Cooper Pharma was established in 1959 and subject having its unit at
Dehradun, the capital of hill state Uttarakhand, was incorporated in 1989.
Quality Control
Quality is the strength and in order to maintain it at every stage of productions
they have in house most modern testing Laboratory equipped with all necessary
instruments and highly qualified technical staff. The definition of the word
'QUALITY' is that they practice in the everyday life. Due to company's
aspiration in preserving the high quality of the medicaments it offers, the
company has no compromise over the raw materials consisting it’s products, thus
importing quality raw materials from reliable sources spreading in countries
such as Germany, Italy and other European Countries. They operate in total
compliance with the G.M.P. norms set by the W.H.O. These norms are controlled
by and a superior hi-tech quality control laboratory divided to three
laboratories.
·
Chemical laboratory
·
Physical Laboratory
·
Microbiological Laboratory
Facilities
The main
facilities are located at Dehradun, the capital city of the Indian state of
Uttarakhand, and are 159 miles (or 255 kilometers) far from New Delhi, the
capital city of India. The following key-points (apart from others) make our
plant USFDA, UKMCA and WHO GMP compliant:
·
Eco–friendly Design of building and premises
·
Sanitation
·
Fully Computerized and Controlled HVAC System
·
Water and Steam system
·
Environment monitoring
·
Manufacturing process
·
Personnel
·
The Quality Control
Tablet Section
·
Fully automatic machines with Vacuum Material Transfer System
·
All type of tablets viz. un-coated, sugar coated, film coated, double
layer, enteric coated, and slow release manufacturing facility
·
Installed capacity–100 Million Tablets Per Month
Hard Gelatin Capsule Section
·
Equipped with automatic SA 9 Capsule Filling Machine
·
Facility to manufacture non betalactun capsules of various drugs
·
Installed capacity – 15 Million capsules per month
Injection Section
Injection Section (Sterile Powder)
·
Automatic Tunnel Line. PLC based washing, filling sealing and labeling
machine line
·
Filling Range - 80 mg to 5000 mg sterile powder.
·
Installed capacity – 1.5 million vials per month
Injection Section (Sterile Liquid Vials And Ampoules)
·
Automatic line to manufacture terminally sterlised, sterlised by
filtration and aseptic preparations.
·
Filling range : 2ml to 30 ml vials and 1ml to 10 ml glass ampoules
·
Installed capacity – 2500 litre per month
External Preparation Section
·
Fully automatic plant having vacuumized system of transfer of material
from manufacturing to sealing.
·
Facility to manufacture creams, ointments, gels, toothpastes, lotions,
emulsions and shampoo of different drugs.
·
Suitable for aluminium and lami tubes
·
Installed capacity- 7500 Kg. Per Month
Liquid Oral Section
·
Automatic manufacturing plant. On line washing, filling, labeling and
cartoning.
·
Capable to manufacture syrups, elixirs and suspensions of different
drugs to be filled in glass as well as pet bottles from 10 ml to 300 ml.
·
Installed capacity – 1.25 million bottles per month
Clients
They are supplying the products to number of
organizations in India and overseas. These clients include a number of
government as well as private organizations.
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.48.14 |
|
UK Pound |
1 |
Rs.82.73 |
|
Euro |
1 |
Rs.65.63 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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 |
|
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 |
|