MIRA
INFORM REPORT
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Report Date : |
27.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHREE VINAYAKA LIFE SCIENCE PRIVATE LIMITED |
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Registered Office : |
Plot No. 39 and 40, S V Co-Operative Society, IDA, Opp Industrial
Estate, Jeedimetla, Hyderabad – 500055, Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
08.12.2004 |
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Com. Reg. No.: |
01-44798 |
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CIN No.: [Company
Identification No.] |
U24230AP2004PTC044798 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporters of Bulk Intermediates For API.S,
Fine Chemicals & Pharmaceuticals. |
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 110000 |
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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 an established company having satisfactory track. Trade relations
are fair. The company is doing well. Payments are usually correct and as per
commitments. Nothing adverse reported. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mrs. Sandhya |
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Designation : |
Accountants Department |
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Date : |
27.08.2008 |
LOCATIONS
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Registered Office : |
Plot No. 39 and 40, S V Co-Operative Society, IDA, Opp Industrial Estate,
Jeedimetla, Hyderabad – 500055, Andhra Pradesh, India |
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Tel. No.: |
91-40-23195480 / 23195490 / 23834823 |
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Mobile No.: |
91-9866312367 |
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Fax No.: |
91-40-23191190 |
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E-Mail : |
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Website : |
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Area : |
4500 sq. ft. |
DIRECTORS
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Name : |
Mr. Kallam Chandrashekar Reddy |
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Designation : |
Director |
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Address : |
Flat No. 103, C – 66, Sai Bharathi Home, Madhuranagar, Hyderabad |
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PAN No. : |
AJCPK5232F |
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Date of Birth/Age : |
12.05.1963 |
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Qualification : |
M.S.C. |
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Date of Appointment : |
08.12.2004 |
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Name : |
Mr. Gade Bakki Reddy |
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Designation : |
Director |
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Address : |
7-2-1087/12/A, Sanath Nagar, Hyderabad |
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PAN No. : |
AIOPG1587C |
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Date of Birth/Age : |
19.10.1966 |
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Qualification : |
M.S.C. |
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Date of Appointment : |
08.12.2004 |
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Name : |
Mr. Addanki Sivarama Prasad |
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Designation : |
Director |
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PAN No. : |
ABLPA2079F |
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Address : |
Plot No. 20, Lakeview Enclave, Miyapur, Hyderabad |
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Date of Birth/Age : |
14.01.1965 |
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Qualification : |
M.S.C. |
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Date of Appointment : |
08.12.2004 |
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Name : |
Mr. Vuyyuru Sivanagireddy |
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Designation : |
Director |
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Address : |
Flat No. 201, E – 118, Sai Krishna Residency, Madhuranagar, Hyderabad |
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PAN No. : |
ADDPV9636P |
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Date of Birth/Age : |
01.07.1962 |
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Qualification : |
M. Com. |
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Date of Appointment : |
08.12.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Kallam Chandrashekar Reddy |
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2500 |
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Mr. Gade Bakki Reddy |
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2500 |
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Mr. Addanki Sivarama Prasad |
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2500 |
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Mr. Vuyyuru Sivanagireddy |
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2500 |
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Total |
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10000 |
AS ON 30.09.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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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 Exporters of Bulk Intermediates For
API.S, Fine Chemicals & Pharmaceuticals. |
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Exports : |
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Products : |
Bulk Intermediates |
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Countries : |
China |
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Terms : |
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Selling : |
Credit [30-60-90 days] |
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Purchasing : |
Credit [30-60-90 days] |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
40 [In office : 10 and IN Factory : 30] |
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Bankers : |
The Adarsh Co-operative Urban Bank Limited, Hyderabad |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Spad and Associates Chartered Accountants |
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Address : |
302, C – 43, Madhura Nagar, Ameerpet, Hyderabad – 500038, Andhra
Pradesh, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 30.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs. 10/-
each |
Rs. 15.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs. 10/-
each |
Rs. 10.000
Millions |
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 |
10.000 |
0.100 |
0.100 |
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2] Share Application Money |
3.043 |
10.184 |
2.565 |
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3] Reserves & Surplus |
9.066 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
22.109 |
10.284 |
2.665 |
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LOAN FUNDS |
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1] Secured Loans |
4.595 |
2.955 |
0.000 |
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2] Unsecured Loans |
8.962 |
0.027 |
0.000 |
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TOTAL BORROWING |
13.557 |
2.982 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
35.666 |
13.266 |
2.665 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
38.749 |
3.871 |
2.560 |
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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 |
14.387
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2.076 |
0.000 |
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Sundry Debtors |
30.412
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0.000 |
0.000 |
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Cash & Bank Balances |
0.052
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0.093 |
0.000 |
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Other Current Assets |
1.047
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0.646 |
0.000 |
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Loans & Advances |
9.727
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6.475 |
0.000 |
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Total
Current Assets |
55.625
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9.290 |
0.000 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
62.231
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0.000 |
0.000 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
62.231
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0.000 |
0.000 |
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Net Current Assets |
[6.606]
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9.290 |
0.000 |
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MISCELLANEOUS EXPENSES |
3.523 |
0.105 |
0.105 |
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TOTAL |
35.666 |
13.266 |
2.665 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover and Other Income |
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159.978 |
0.104 |
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Profit/(Loss) Before Tax |
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9.066 |
[0.005] |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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9.066 |
[0.005] |
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Expenditures : |
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Depreciation & Amortization |
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5.411 |
0.000 |
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Other Expenditure |
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154.567 |
0.109 |
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Total Expenditure |
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159.978 |
0.109 |
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Note : There were no effective business actives during the financial year
2005-06. The Income shown in 2005-06 pertains to Other Income.
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 |
(%) |
5.67
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[4.81] |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
5.67
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[4.81] |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.61
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[0.04] |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.41
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0.00 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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3.43
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0.29 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
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0.89
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0.00 |
0.00 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Existence Verification |
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Name |
Shree Vinayaka Life Science Private Limited |
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Statutory Approvals |
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Legal Status of Firm |
Private Limited |
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Income Tax Registration |
AAICS9036K |
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VAT/ TIN Registration |
28380208861 |
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Import Export Code |
The Adarsh Co-operative Urban Bank Limited |
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Name of Bank |
2279 |
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Current Account Number |
4 Years |
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Credibility Factors |
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IndiaMART Client Since |
3 Years |
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Trade Affiliations |
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SSI Registration |
RgR/CO 1941/03 Date : 15.11.2003 |
TRADE REFERENCE
- Orchid Chemicals and Pharmaceuticals Limited, Chennai
- Aurobindo Pharma Limited, Hyderabad
AS PER
WEBSITE
Profile
Established in June 2001, Shree Vinayaka Life Sciences is spread
across an area of 4,500 Sq. Yards in a pharmaceutical industrial area of
Hyderabad, India.
Shree Vinayaka Life Sciences is well equipped for the
manufacture of Bulk Intermediates for
- APIs &
Fine Chemicals.
The plant is managed and operated by highly qualified &
experienced professionals.
The manufacturing activities are well supported by R & D
and AR&D.
Customer
Base
Shree Vinayaka is an approved vendor for many reputed
Pharmaceutical Companies in India.
Products are supplied to established Pharmaceutical Companies in India &
abroad.
Products
Grianard Reagents
12 Different complexes are manufactured in Multi-Ton level
in commercial scale.
Amino Acids:
A range of D-amino acids and unnatural amino acids are
available.
Boronic Acids
Various types of Boronic Acids & its derivatives.
Services
- Process
Research & Development
- Impurity
profile identification
- Chiral
Resolutions
- Moisture
sensitive Reactions
- Polymorphism
- Salts
preparation & screenin
Reaction
Capabilities
- Grianard Reagents
- Friedal Crafts Reaction
- Diazotisations
- Azides
- Cyanations
- Nitrations
- Chemical & Metal catalysed Reductions
- High-pressure Hydrogenation Reactions
- Moisture sensitive & exothermic reactions
Systems
Systems such as cGMP & GLP, QC & QA are well in place at Shree Vinayaka
Documentation
procedures such as
- Batch Production Records
- Log Books
- Deviation Reports
- Campaign Reports etc. with good archiving systems are well
taken care of.
Documentation required for
Key Starting Materials (KSM) for DMF
filing & Clinical Trials (Regulatory Toxicology & Phase 1,2 &
3) are well in place.
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.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
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
|
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 |
|
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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