MIRA
INFORM REPORT
|
Report Date : |
02.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHUBHAM PHARMACHEM PRIVATE LIMITED |
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Registered Office : |
207, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
28.01.1992 |
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Com. Reg. No.: |
11-65071 |
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Capital
Investment / Paid-up Capital : |
Rs.10.100 Millions |
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CIN No.: [Company
Identification No.] |
U99999MH1992PTC065071 |
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|
IEC No.: |
0395013631 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS19202B |
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PAN No.: [Permanent
Account No.] |
AABCS4582P |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader and Importer of Pharmaceutical and Bulk Drugs. |
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No. of Employees : |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 230000 |
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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 reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Dinesh |
|
Designation : |
Accountant |
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Contact No.: |
91-22-26344609 |
|
Report Date : |
01.12.2011 |
LOCATIONS
|
Registered Office : |
207, |
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Tel. No.: |
91-22-26344608/ 09/ 10 |
|
Mobile No.: |
91-9867248629 (Mr. Ashish Jaiodia) |
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Fax No.: |
91-22-26318808 |
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E-Mail : |
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Website : |
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Area : |
600 sq. ft. |
|
Location : |
Owned |
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|
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Kolkata Office : |
55/ 3D, |
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Tel. No.: |
91-33-24746449/ 24750261/ 0086 |
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Fax No.: |
91-33-24751710 |
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E-Mail : |
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|
|
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Warehouse 1 : |
Gala No. 5, Building No.1, Manish Compound, Anjur Phata Rahnal,
Village, Bhiwandi, Thane, |
|
Area : |
500 sq. ft. |
|
Location : |
Owned |
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|
|
|
Warehouse 2 : |
Gala No.18, Building No.2, Manish Compound, Bhiwandi, Thane, |
|
Area : |
350 sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on 27.09.2011
|
Name : |
Mr. Rajesh Kumar Jugal Kishore Jajodia |
|
Designation : |
Director |
|
Address : |
55/ 3D, |
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Date of Birth/Age : |
25.03.1969 |
|
Qualification : |
B. Com |
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Date of Appointment : |
28.01.1992 |
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DIN No.: |
00299380 |
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|
|
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Name : |
Mr. Manish Kumar Jugal Kishore Jajodia |
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Designation : |
Director |
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Address : |
55/ 3D, |
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Date of Birth/Age : |
01.08.1970 |
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Qualification : |
B. Com |
|
Date of Appointment : |
15.01.1993 |
|
DIN No.: |
00299619 |
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|
|
|
Name : |
Mr. Ashish Kumar Jugal Kishore Jajodia |
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Designation : |
Director |
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Address : |
55/ 3D, |
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Date of Birth/Age : |
25.02.1974 |
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Qualification : |
B. Com |
|
Date of Appointment : |
15.01.1993 |
|
DIN No.: |
00299794 |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh |
|
Designation : |
Accountant |
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|
|
|
Name : |
Mr. Nikesh |
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Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rajesh Kumar Jajodia |
|
37550 |
|
Ashish Kumar Jajodia |
|
30600 |
|
Manish Kumar Jajodia |
|
6350 |
|
Jugal Kishor Jajodia |
|
200 |
|
Bina Devi Jajodia |
|
200 |
|
Jaya Jajodia |
|
550 |
|
Minu Jajodia |
|
550 |
|
Manubhawan Distributor Private Limited, |
|
5000 |
|
Vasundhra Vinimay Private Limited, |
|
5000 |
|
Urch Traders Private Limited, |
|
7500 |
|
Vaibhav Vinimay Private Limited, |
|
7500 |
|
Total |
|
101000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Pharmaceutical and Bulk Drugs. |
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Products: |
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Imports : |
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Products : |
·
Pharmaceutical ·
Drug |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Kanthaliya and Associates Chartered Accountants |
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Address : |
109/2 Ostwal Ornate, |
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Tel. No.: |
91-22-65222092 / 28161904 |
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Mobile No.: |
91-9821066512 |
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Fax No.: |
91-22-28175038 |
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E-mail : |
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PAN No. |
AAAPK8794K |
CAPITAL STRUCTURE
As 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000 |
Equity Shares |
Rs.100/- each |
Rs.12.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
101000 |
Equity Shares |
Rs.100/- each |
Rs.10.100 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.100 |
9.300 |
9.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
48.342 |
35.343 |
24.961 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
58.442 |
44.643 |
34.261 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
26.953 |
12.547 |
12.054 |
|
|
2] Unsecured Loans |
3.700 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
30.653 |
12.547 |
12.054 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
89.095 |
57.190 |
46.315 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
10.139 |
10.173 |
7.258 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
5.611 |
4.211 |
2.711 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
17.241
|
14.710 |
9.770 |
|
|
Sundry Debtors |
255.978
|
250.942 |
215.021 |
|
|
Cash & Bank Balances |
2.939
|
4.269 |
5.001 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
37.609
|
28.062 |
11.855 |
|
Total
Current Assets |
313.767
|
297.983 |
241.647 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
215.586
|
239.479 |
196.086 |
|
|
Other Current Liabilities |
8.260
|
4.209 |
2.393 |
|
|
Provisions |
16.576
|
11.489 |
6.822 |
|
Total
Current Liabilities |
240.422
|
255.177 |
205.301 |
|
|
Net Current Assets |
73.345
|
42.806 |
36.346 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
89.095 |
57.190 |
46.315 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
NA |
781.881 |
|
|
|
Other Income |
|
NA |
9.006 |
|
|
|
TOTAL (A) |
935.460 |
NA |
790.887 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
918.974 |
|
744.398 |
|
|
|
Personal Cost |
|
|
3.227 |
|
|
|
Increase/(Decrease) in Finished Goods |
|
|
3.637 |
|
|
|
Other Expenditure |
|
|
21.582 |
|
|
|
TOTAL (B) |
918.974 (Including
Financial Charges and Depreciation ) |
|
772.844 |
|
|
|
|
NA |
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
18.043 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
3.695 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
14.348 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.898 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
16.486 |
NA |
13.450 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.087 |
NA |
4.714 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
11.399 |
10.382 |
8.736 |
|
|
|
|
|
|
|
|
|
|
TOTAL EARNINGS |
19.812 |
8.553 |
NA |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
50.978 |
27.120 |
740.402 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
112.86 |
111.63 |
220.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.22
|
NA |
1.10 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
1.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.09
|
NA |
5.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
NA |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.64
|
6.00 |
6.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31
|
1.17 |
1.18 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last one years |
Yes |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
No |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
FORM 8:
|
Corporate identity number of the company |
U99999MH1992PTC065071 |
|
Name of the company |
SHUBHAM PHARMACHEM PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
207, Laxmi Plaza Building No. 9, Laxmi Industrial Estate, New Link Road,
Andheri (West), Mumbai – 400053, Maharashtra, India E-mail : shubham@shubham.co.in
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10187352 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
Standard Chartered Bank, SME Banking, 19, E-mail : sme.form8@sc.com |
|
Nature of instrument creating charge |
Memorandum of Entry – Supplemental |
|
Date of instrument Creating the charge |
17.10.2011 |
|
Amount secured by the charge |
Rs.131.500 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest Base rate(current 9.75%)+3.25%p.a. Variable on daily OD Balances. WCDL
and BC at negotiated rated, Rate are subject to change from time to time. Terms of repayment OD Facility is valid upto 21.10.2012 or payable on demand Import LC - Max 120 days WCDL - Max 3 months Forex forward LER facility - 180 days Shipping guarantee - 120 days Buyers Credit - Max 180 days Margin The borrower shall maintain appropriate margin as stipulated in the
sanction terms i.e. 25% on stock and book-debts (up to 120 days) less sundry
creditors, however the same is subject to change from time to time. Extent and operation of the charge The charged security shall be a continuing security and by way of
first charge. The company hereby declare that all the charged assets now existing
are absolute property of and at the sole disposal of the company and free
from any prior charge or encumbrance and undertake that all the future
property shall like wise be the unencumbered and absolute and disposal
property of the company. Others The charged security shall be kept at the Company’s risk and expenses
in good condition and fully insured against loss or damage by fire, theft etc
and also against other loss or damages may be required by the Bank. The
charged goods and all sales realisation and insurance proceeds thereof and
all the documents under this security shall be held as bank's exclusive
property. Other terms are as per Sanction
letter and Hypothecation Agreement etc. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
The Company created equitable mortgage by deposit of title deeds in respect
of Commercial Property located at Building no. 9, Laxmi Industrial Estate,
CTS No. 627, Village Oshiwara New Link Road, Andheri ( West ), Mumbai –
400053, Maharashtra, India owned by the Company For details please refer
attached Memorandum of Entry. |
|
Particulars of the present modification |
By present modification the overall limit secured by the charge has
been enhanced from Rs.106.500 Millions to Rs.131.500 Millions consequent to
enhancement of credit facilities to the Company/ies / Firm. The limit of the
following Company / firm are secured by the charge Subject - Rs.47.000 Millions Anzen Exports - Rs.84.500
Millions |
FIXED ASSETS:
- Land and
Building
- Air
Conditioner
- Computer
- Fax Machine
- Furniture and
Fixtures
- Motor Car
- Office Equipments
- Office
Premises
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.51.35 |
|
|
1 |
Rs.80.51 |
|
Euro |
1 |
Rs.69.14 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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 |
|
|
>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.