MIRA
INFORM REPORT
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Report Date : |
25.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAPRA LABORATORIES PRIVATE LIMITED |
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Registered Office : |
201, Adhraru Industrial Estate, Sun Mill Compound, Lower Parel,
Mumbai-400013, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
04.11.1985 |
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Com. Reg. No.: |
11-37946 |
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CIN No.: [Company
Identification No.] |
U24100MH1985PTC037946 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM20580A |
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PAN No.: [Permanent
Account No.] |
AAACM5060F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Antibiotics,
Antidiarrhoeals and B-complex preparations 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 1000000 |
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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 : |
We tried to reach key officers several times but they remain in
meeting whole day. We have been asked to call in October and once again
contact them. In the meantime, we have written a letter to them. Subject is a well established company having satisfactory track. Trade
relations are fair. Financial position is satisfactory. Payments are reported
as slow but correct. However the company can be considered normal for business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
201, Adhraru Industrial Estate, Sun Mill Compound, Lower Parel,
Mumbai-400013, Maharashtra, India |
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Tel. No.: |
91-22-4983516/ 4983517/ 4983518 |
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Fax No.: |
91-22-24950487 |
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E-Mail : |
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Website : |
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Factory : |
Located at: ·
Bhopal ·
Mumbai |
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Branches : |
Located At:- ·
Lucknow ·
Patna ·
Guwahati ·
Calcutta |
DIRECTORS
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Name : |
Mr. Randir Kumar Bachan |
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Designation : |
Director |
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Address : |
Village: Govindpur, P.S Ghoshi, Post: Modanganj, Jehanabad-804406,
Bihar, India |
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Date of Birth/Age : |
19.11.1971 |
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Date of Appointment : |
04.01.2000 |
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Name : |
Mr. Jairam Singh |
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Designation : |
Director |
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Address : |
Village: Ganagati, Post: Khudaganj, Nalanda-803101, Bihar, India |
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Date of Birth/Age : |
09.08.1949 |
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Date of Appointment : |
22.11.1996 |
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Name : |
Mr. Rajeev Sharma |
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Designation : |
Director |
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Address : |
67, Padtliputra Colony, Patna-800013, Bihar, India |
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Date of Birth/Age : |
21.03.1963 |
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Date of Appointment : |
04.11.1985 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 27.09.2005
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Names of Shareholders |
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No. of Shares |
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Umesh Sharma |
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2500 |
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Rajeev Shama |
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200 |
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Devinder Rai |
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200 |
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Renuka Devi |
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1090 |
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Satula Devi |
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100 |
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Uma Devi |
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100 |
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Rahul Sharma |
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100 |
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Ranjeet Sharma |
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100 |
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Mahendra Prasad |
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10610 |
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Total |
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15000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
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99.33 |
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Other top fifty (50) shareholders (other than listed above) |
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0.67 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Antibiotics,
Antidiarrhoeals and B-complex preparations etc. |
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Products : |
·
Vitamins ING ·
Nsaid / Anti Inflammatory ·
Antioxidant ·
Antibiotics ·
Anti – Alergic ·
B- Complx Vitamins ·
Anthelmintics ·
Anti Diarrhoeal ·
Haematinics ·
Cough Syrup ·
Anti- Ulcerant ·
Anti- Asthmatic ·
Digestive Enzyme ·
Calcium Supplements ·
Nutritional ·
Anxilytic |
GENERAL
INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
K.B.Lal Agrawal and Company Chartered accountant |
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Address : |
Sri Ram Bhawan, 1st Floor, Exhibition Road, Patna-800001,
Bihar, India |
CAPITAL STRUCTURE
As on 26.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.500 Million |
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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 |
1.500 |
1.500 |
1.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
200.656 |
183.480 |
172.555 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
202.156 |
184.980 |
174.055 |
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LOAN FUNDS |
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1] Secured Loans |
11.639 |
7.728 |
7.159 |
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2] Unsecured Loans |
8.612 |
10.822 |
10.981 |
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TOTAL BORROWING |
20.251 |
18.550 |
18.140 |
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DEFERRED TAX LIABILITIES |
3.715 |
4.181 |
4.542 |
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TOTAL |
226.122 |
207.711 |
196.373 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
36.307 |
30.776 |
25.147 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.001 |
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 |
68.810
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56.174 |
72.986 |
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Sundry Debtors |
54.215
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46.864 |
41.991 |
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Cash & Bank Balances |
109.865
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85.985 |
65.478 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
59.155
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50.732 |
72.671 |
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Total
Current Assets |
292.045
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239.755 |
253.126 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
55.141
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24.880 |
24.836 |
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Provisions |
47.090
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37.940 |
56.700 |
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Total
Current Liabilities |
102.231
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62.820 |
81.536 |
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Net Current Assets |
189.814
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176.935 |
171.590 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
226.122 |
207.711 |
196.737 |
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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 |
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425.928 |
387.596 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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425.928 |
387.596 |
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Profit/(Loss) Before Tax |
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26.325 |
14.896 |
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Provision for Taxation |
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9.150 |
3.971 |
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Profit/(Loss) After Tax |
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17.175 |
10.925 |
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Expenditures : |
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Depreciation & Amortization |
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5.554 |
4.510 |
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Other Expenditure |
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394.049 |
368.190 |
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Total Expenditure |
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399.603 |
372.700 |
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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 |
(%) |
6.18
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3.84 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
6.18
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3.84 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.01
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5.51 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.13
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0.08 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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0.61
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0.44 |
0.57 |
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Current Ratio (Current Asset/Current Liability) |
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2.86
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3.82 |
3.10 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
Profile:
MAPRA came in inception in the year 1978 and after having a runaway success
in eastern India, gradually they had expanded all over and now they are well
represented all over the country and getting a positive response from medical
fraternity primarily because of high quality products.
Subject have a wide range of products which includes antibiotics,
antidiarrhoeals, anthelminyics, NSAID's, Antioxidant, Haemetinics,
Antiallergics, enzyme preparations, B-complex preparations etc. The products
are specially useful in many ailments which are common among Indian population.
Subject believes in tradition of product innovation. They were the first
one to launch Ampicillin and Cloxacillin (MAGNACILLIN) combination in the dry
syrup form for the first in India in the late seventies. In the recent past
they had launched OMINAX Neonatal (Cefotaxime neonatal injections), and
MEGAMIKA - 25 mg (Amikacin Neonatal injections) for the first time in India,
perhaps in the world, specially for neonatal patients.
Subject have many more products to care the neonatal and toddler
patients like Trimox (Amoxycillin) kid tabs, Drops, Dry syrup, Magnacillin dry
syrup, Odacet (cetirizine) syrup etc.
The factories are located at Mumbai and a place nearby Bhopal. They have
latest machinery and standard operating procedures to ensure the highest quality
of the products. The products are also reasonably priced so that they can serve
large number of needy, poor patients.
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.45.83 |
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UK Pound |
1 |
Rs.84.90 |
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Euro |
1 |
Rs.67.26 |
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 |
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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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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