MIRA INFORM REPORT
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Report Date : |
21.04.2011 |
IDENTIFICATION DETAILS
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Name : |
RAVENBHEL HEALTH CARE PRIVATE LIMITED |
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Registered
Office : |
28 A/B, Gandhi Nagar, Jammu and Kashmir-180005. |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
23.04.2003 |
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Com. Reg. No.: |
07-002286 |
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CIN No.: [Company Identification
No.] |
U24232JK2003PTC002286 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AMRR10650D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Tablets and Syrups.
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RATING & COMMENTS
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MIRA’s Rating : |
Ba (51) |
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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 : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. General financial
position of the company is good. Trade relations are fair. Business is
active. Payments are reported to be regular and as per commitments. The company can be considered normal for good business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
28 A/B, Gandhi Nagar, Jammu and Kashmir-180005, India. |
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E-Mail : |
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Website : |
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Factory : |
16-17, Export Promotion Park (EPIP), SIDCO Complex, Kartholi, Bari Brahmana,
Jammu-180001, Jammu and Kashmir, India |
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Tel. No.: |
91-1923-221875 / 222058 |
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Fax No.: |
91-1923-222022 |
DIRECTORS
As On : 30.09.2010
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Name : |
Mr. Inam-UR Rehman |
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Designation : |
Director |
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Address : |
17/2, Kennedy Avenue, Amritsar-143001, Punjab, India |
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Date of Birth/Age : |
01.07.1969 |
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Date of Appointment : |
06.06.2003 |
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DIN No : |
001109816 |
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Name : |
Mr. Sahil Mahajan |
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Designation : |
Director |
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Address : |
17/2, Kennedy Avenue, Amritsar-143001, Punjab, India |
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Date of Birth/Age : |
14.08.1979 |
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Date of Appointment : |
23.04.2003 |
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DIN No : |
00158373 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Sahil Mahajan |
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1935 |
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Kavita Mahajan |
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2340 |
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Inam-UR Rehman |
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225 |
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Total |
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4500 |
AS ON 30.09.2010
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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 |
|
100.00 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Tablets and Syrups.
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Products : |
Tablets and Syrups. |
PRODUCTION STATUS (As On 31.03.2010)
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Tablets |
M.T. |
180 |
32201230 |
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Syrups (Oral Liquids) |
K.L. |
450 |
1673323 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
v Agro Elite v Anand
Enterprises v Anup Printers,
Pune v Arihant Trading
Company v Balaji Traders v Bilcare Limited v Biocon Limited,
Bangalore v Endoc Pharma,
Rajkot v Dove Chemicals
Limited, Chandigarh v Bharat Rubber
Works, Mumbai v HVAC
Systems v JTH Industries,
Jammu |
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Bankers : |
Bank of Baroda, Gandhi Nagar, Jammu, Jammu and Kashmir, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Karan Sethi and Associates (Karan Bir Singh Sethi) Chartered Accountant |
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Address : |
61 E, D/C, Gandhi Nagar, Jammu-180004, Jammu and Kashmir, India |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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30000 |
Equity Shares |
Rs. 100/- each |
Rs. 3.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4500 |
Equity Shares |
Rs. 100/- each |
Rs. 0.450
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.450 |
0.450 |
0.450 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
229.032 |
170.686 |
120.995 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
229.482 |
171.136 |
121.445 |
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LOAN FUNDS |
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1] Secured Loans |
0.548 |
0.016 |
5.976 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.548 |
0.016 |
5.976 |
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DEFERRED TAX LIABILITIES |
1.786 |
1.413 |
1.508 |
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TOTAL |
231.816 |
172.565 |
128.929 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
38.254 |
27.707 |
25.869 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
91.035 |
47.981 |
10.732 |
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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 |
56.906
|
45.304 |
15.526 |
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Sundry Debtors |
87.580
|
71.279 |
37.040 |
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Cash & Bank Balances |
31.587
|
45.065 |
33.063 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
10.790
|
13.466 |
36.728 |
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Total
Current Assets |
186.863
|
175.114 |
122.357 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
81.021
|
68.721 |
29.046 |
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Other Current Liabilities |
2.339
|
2.069 |
0.651 |
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Provisions |
0.976
|
7.447 |
0.332 |
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Total
Current Liabilities |
84.336
|
78.237 |
30.029 |
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Net Current Assets |
102.527
|
96.877 |
92.328 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
231.816 |
172.565 |
128.929 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
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Other Income |
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TOTAL |
452.791 |
440.440 |
280.340 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
371.937 |
369.818 |
243.037 |
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Advertising Expenses |
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TOTAL |
371.937 |
369.818 |
243.037 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
80.854 |
70.622 |
37.303 |
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Less/ Add |
DEPRECIATION/ AMORTISATION |
3.531 |
2.947 |
2.840 |
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PROFIT BEFORE
TAX |
77.323 |
67.675 |
34.463 |
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Less |
TAX |
18.686 |
17.646 |
0.114 |
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PROFIT AFTER TAX
|
58.637 |
50.029 |
34.349 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
168.596 |
118.568 |
84.219 |
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BALANCE CARRIED
TO THE B/S |
227.233 |
168.596 |
118.568 |
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Earnings Per
Share (Rs.) |
13030.44 |
11117.55 |
25.33 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
12.95
|
11.36 |
12.25 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
34.35
|
33.37 |
23.25 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.39 |
0.28 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.38
|
0.47 |
0.31 |
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Current Ratio (Current Asset/Current Liability) |
|
2.22
|
2.24 |
4.07 |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS
ü Land
ü Building Under
Construction
ü Invertor
ü Stabilizer
ü Plant and
Machinery
ü Pollution
ü Dies Molds
ü Motor Pumps
ü Furniture and
Fixture
ü Weighting Machine
ü Electro State
Machine
ü Cycle
ü Water Purifier
ü Vehicles
ü Water Cooler
ü Computer
ü CCTV
ü Scooter
WEB SIDE STAILS
PROFILE
Subject is an emerging, global pharmaceutical company with proven
capabilities in the areas of contract manufacturing and new product development
Over the years subject has emerged as one of the fastest growing
contract manufacturers in the country catering to domestic as well as
international needs. The company has to its credit GMP and WHO certification.
In addition the company is also ISO 2001:9000 certified with special focus on
maintaining uniform quality in every aspect of its business process. The
company has successfully completed the Clinical Trial of Lornoxicam with
Paracetamol and other various BE Studies.
The company was set up in 2003 in Jammu, J and K and since then has made
rapid strides in the field of contract manufacturing. From being a small
contract manufacturer, subject has rapidly moved up the value chain to become
one of the best in class provider of manufacturing services. The company
ensures complete quality assurance with timely delivery of the products. The
range of products includes various innovative tablets, syrups and capsules
which require an expertise in the pharmaceutical domain.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.44.38 |
|
|
1 |
Rs.72.55 |
|
Euro |
1 |
Rs.63.92 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
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|
--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
51 |
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 |
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 |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.