MIRA
INFORM REPORT
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Report Date : |
02.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHREE BHAGWATI
PHARMA MACHINERY COMPANY |
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Registered Office : |
9, Bhagyoday Estate,
Ajod Dairy Road, Rakhial Industries Area, Ahmedabad – 380023, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2005 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMS10525E |
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PAN No.: [Permanent
Account No.] |
AAGFB1519F |
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Legal Form : |
Sole Proprietory
Concern |
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Line of Business : |
Manufacturer and
Exporter of all type of Pharmaceutical Machinery and Packaging Machine, Like Filling
Machine, Capping Machine, Labelling Machine, Tableting Machine, Tablet
Section, Liquide Section, Process Equipment etc. |
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 : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well
– established and progressive concern having satisfactory track. Trade
relations are fair. Partners are reported as slow but correct. The concern can
be considered normal for business dealings at usual trade terms and conditions. Management
assured to provide with more details and if they provide it will follow,
soon. |
INFORMATION PARTED
BY
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Name : |
Mr. Bharat Rao |
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Designation : |
Proprietor |
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Contact No.: |
91-9898070475 |
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Date : |
30.08.2008 |
LOCATIONS
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Registered Office : |
9, Bhagyoday
Estate, Ajod Dairy Road, Rakhial Industries Area, Ahmedabad – 380023,
Gujarat |
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Tel. No.: |
91-79-22770475 /
30417645 |
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Mobile No.: |
91-9898070475 |
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Fax No.: |
91-79-22770475
/22762466 |
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E-Mail : |
contact@bhagwatipharma.co.in,
contact@bhagwatipharma.com, info@labelingmachine.in |
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Website : |
http://www.bhagwatipharma.co.in,
www.bhagwatipharma.com, www.labelingmachine.in |
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Area : |
2000 sq. ft
[Owned] |
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Branch Office
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Delta Pharma
Drugstore Khalda Area, Opposite Arab Bank, Pob – 851982 – Amman – 11185,
Jordan |
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Tel. No.: |
962-6-5516336 |
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Fax No.: |
962-6-5516337 |
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Factory: |
Plot No. 1322,
Phase – 3, GIDC, Vatva, Ahmedabad |
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Tel. No.: |
91-79-22770475 |
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Mobile No.: |
91-9824025704 |
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E-Mail : |
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Area : |
10000 Sq. ft
[Owned] |
SOLE PROPRIETOR
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Name : |
Mr. Bharat Rao |
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Designation : |
Proprietor |
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Date of Birth/Age : |
35 Years |
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Qualification : |
B. Com. |
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Experience : |
10 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of all type of Pharmaceutical Machinery and Packaging Machine, Like Filling
Machine, Capping Machine, Labelling Machine, Tableting Machine, Tablet
Section, Liquide Section, Process Equipment etc. |
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Exports : |
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Products : |
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Countries : |
UK, USA, Egypt,
Jordan, Philippines, Syrig, South Africa, Dubai, Sharjah, Australia, New Zealand, and Malaysia |
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Terms : |
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Selling : |
L/C, Cash, Credit [90 days] advance 10 % |
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Purchasing : |
l/c, Cash, Credit and Advance |
GENERAL
INFORMATION
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Customers : |
Wholesalers, Retailers, OEM’s
and End Users |
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No. of Employees : |
38 [In Office : 12 and In Factory : 20] |
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Bankers : |
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Facilities : |
Cc Limit Rs. 2.500 Millions from Standard Chartered Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sanjeev Shah and
Company Chartered
Accountant |
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Associates/Subsidiaries : |
Om Bhagwati
Labelling Technologies GIDC Vatva, Ahmedabad Line of Business –
Labelling Machines and Packing Machines Jay Laxmi Metal
Industries, 9/A, Bhagyoday
Estate, Ajod Dairy Road, Rakhial, Ahmedabad Line of Business
– Pharmaceutical Process Equipment and Stainless Steel Fabricators Raj Laxmi Metal
Corporation, 10/3, JJ
Suratwala Estate, Near Chakudia Mahadev, Temple, Rakhial, Ahmedabad Line of Business
– Trading of Stainless Steel, Copper, Brass Raw Materials |
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 |
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Sales Turnover |
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35.000 |
Expected Sales (2007-08) : Rs.50.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
v ACO Packaging Limited – UK
v Jasoda International Limited – UAE
v Best Bet Holding private Limited – Botswana
v Denward Manufacturing Limited – UK
v Medifood – Egypt
v Premier Labeler – UK
As Per Website
Profile
In the world of pharmaceutical &
allied filling and packaging machinery, especially referring to
machinery for industries such as food, pharmaceuticals, beverages, cosmetics,
distillery etc. the name Shree Bhagwati Pharma Machinery Company stands out for
sheer quality of its products.
In a competitive market wherein leadership in the field
is a frequent claim of every manufacturer, concern is content to let the
customer be the judge of the quality by performance, integrity, and enduring
functionality of its machineries.
Location and Infrastructure:
Concern is situated at Rakhial, a vital industrial
enclave of Ahmedabad. The Company’s works at the 5250 sq. m. of property includes sophisticated
machinery, a state-of-the-art engineering and assembly department having a tool
room section, a machining section, a drawing/designer’s section, an R & D
section with testing equipment, and administrative offices with worldwide
connectivity.
Building the customer’s trust:
What sets the Company apart is the
trial phase in putting together its machinery. It is the important presale test
to prove the mettle of the product. No compromise is done when the client’s
interest and investment is at stake. The customer is even invited to examine
the functioning of the machine before the sale is through.
This is in addition to the operations in the R & D
department where innovation and optimisation in machine configuration is a continual
programme. The efforts bear fruit when clients prefer the machinery over other
options available, and when the customer recommends the Company.
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.44.21 |
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UK Pound |
1 |
Rs.79.76 |
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Euro |
1 |
Rs.64.72 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
YES |
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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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46 |
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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