MIRA
INFORM REPORT
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Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
MEDICO PHARMACEUTICALS PROCESSORS |
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Registered Office : |
A - 3, Industrial Development Colony, Near University, Amritsar – 143
104, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1974 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Medicine, Chemicals and Health Aids. |
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 15000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Dinesh Tuteja |
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Designation : |
Proprietor |
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Date : |
14.10.2008 |
LOCATIONS
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Registered Office/ Factory : |
A - 3, Industrial Development Colony, Near University, Amritsar – 143 104,
Punjab, India |
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Tel. No.: |
91-183-2258586 / 2257577 / 3206194 / 3298008 / 2221262 / 3098022 |
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Mobile No.: |
91-9356000059 / 9356120040 |
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Fax No.: |
91-183-2257577 / 2258731 |
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E-Mail : |
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Website : |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Dinesh Tuteja |
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Designation : |
Proprietor |
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Date of Birth/Age : |
62 years |
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Qualification : |
M Pharmacy |
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Experience : |
35 years |
KEY EXECUTIVES
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Name : |
Mr. Nitin Tuteja |
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Designation : |
Chief Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Medicine, Chemicals and Health Aids. |
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Products : |
· Medicine · Fine Chemicals · Health Aids · Hygiene and Cleaning Items · Plastic Components · Essence · Innovations · Alcohol Denaturants. |
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Exports : |
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Countries : |
Uzbekistan, Afghanistan, Canada, Mauritius and Kenya |
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Terms : |
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Selling : |
LC, Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
Capacity to increase production by 50%
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing |
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No. of Employees : |
10 |
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Bankers : |
· IDBI Bank limited, Amritsar, Punjab, India · Oriental Bank of commerce, Amritsar, Punjab, India |
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Banking
Relations : |
Satisfactory |
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Memberships : |
Pharmexil |
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Standard Certification : |
ISO and ISI Mark |
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Associates/Subsidiaries : |
· Aroma Innovation · Nitin Udyog |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.000 millions |
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Borrowed : |
---- |
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Total : |
Rs. 3.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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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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25.000 |
20.000 |
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Profit/Loss for the year |
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12% |
12% |
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Export Value |
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20% |
NA |
Expected Sales (2008-09): Rs. 30.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Notes:-
Awards and
Achievements
· A certificate for Flair in Business Practices
· A Manufacturing certificate from the government
· A G.M.P.(Good Manufacturing Practices) Certificate
· A certificate of being first issued by the State Government, for the Productivity, Quality, Eco-friendly and H.R. Development.
WEBSITE DETAILS:-
Concern Profile:-
Subject has come a long way ever since its establishment in the year
1974. Decades of hard work and persistent efforts to provide only the best to
the clients has made them successfully reach the pinnacle of success. Their
concern is counted as a reputed manufacturer and exporter of a variety of
products. Their catalog comprises of Medicines like Liquid Orals, External
Applications, Emulsions and Suspension Tablets, Capsules, Dry-syrups and
Powders, Distillery Chemicals, Fine Chemicals, Hygiene and cleaning items like
Biocides, Phenols, Detergents, Plastic Components, Anti-foam, Adhesives,
Caramel, Denaturants, Health Aids, etc.
Innovation has been the key factor in writing their success story, as
they keep on upgrading their products according to the latest technological
developments. These products are made available to the customers at highly
competitive prices and an effort is made to deliver the goods to them within
the stipulated period of time.
Products:-
Subject is a renowned name in the business circuit and has earned for
itself a place in the industry. They are engaged as a manufacturer and exporter
of an array of varied products, which includes:
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Medicine |
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Liquid Orals |
External Applications |
Emulsions and Suspension Tablets |
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Capsules |
Dry-Syrups and Powders |
Distillery Chemicals |
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Fine Chemicals |
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Health Aids |
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Electric Blankets |
Backache Belts |
Knee Caps |
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Collars and Pillows for Spondylitis |
General-Purpose Body Warmers |
Foot Warmers for Diabetic Patients |
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Fluid Warmers |
Blood Warming Systems |
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Hygiene and
Cleaning Items |
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Biocides |
Phenols |
Detergents |
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Plastic
Components |
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Drink Stirrers |
Shoulder Seals |
Frosted Bottles |
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Essence |
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Indelible Inks |
Flavors from Most Suitable Natural and Synthetic Ingredients |
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Innovations |
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Anti-foam |
Adhesives |
Caramels |
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Alcohol
Denaturants. |
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Wide Network
Their concern, owing to its A-grade quality products and efficient
services has earned a reputed name not only in the country but all over the
world. Their client list includes the who is who of the industry. 40% of their
produce is regularly and extensively exported to Uzbekistan, Afghanistan,
Canada, Mauritius and Kenya, where they find immense demand.
Environmental
Protection
As an environmentally responsible concern, Subject complies with the
environmental regulations advocated by the Government. They follow the necessary
Pollution Clearance procedures for a clean environment.
Quality Assurance
Providing premium quality to the customers is a universal dream of many
companies, but at Medico Pharmaceuticals, it is a mission. They continually
strive to achieve the highest grade of quality for the complete satisfaction of
the buyers.
The production process is carried out using the finest grade raw
materials under the supervision of stringent quality inspectors, who ensure a
smooth production. International quality standards are followed at all levels
to manufacture only flawless products.
Set-up
The
production unit at the concern is outfitted with ultra modern machines of the
latest technology, which aid in the fabrication of premium products at
competitive prices. The wear and tear of the machines is constantly monitored
and minor faults done away with immediately. This ensures that no major fault
is ever caused, thereby resulting in an error free production.
Workforce
They
employ the most experienced and hardworking team of professionals, who work
round the clock for the betterment of the concern. The technical staff is
imparted regular training to keep them abreast with the latest technological
developments and for their overall growth.
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.47.71 |
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UK Pound |
1 |
Rs.83.30 |
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Euro |
1 |
Rs.65.12 |
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 |
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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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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