MIRA
INFORM REPORT
|
Report Date : |
31.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRECIKOT PHARMA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
601 Hari Vijay Society, Bhagat Singh Road, Vile Parle (West), Mumbai –
400056, Maharashtra |
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|
|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2011 |
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|
Date of
Incorporation : |
16.08.2004 |
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Com. Reg. No.: |
11-148014 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.000 millions |
|
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|
|
CIN No.: [Company Identification
No.] |
U29297MH2004PTC148014 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP19781G |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Pharmaceutical Formulation and Packaging Machines. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 400000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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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. 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
601 Hari Vijay Society, Bhagat Singh Road, Vile Parle (West), Mumbai –
400056, Maharashtra, India |
|
E-Mail : |
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|
Website : |
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Head Office : |
Kothari House, B-1, KT Industrial Park, Gauraipada, Vasai (East),
Thane - 401208, India |
|
Tel. No.: |
91-250-6459011 to 15 |
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Fax No.: |
91-250-2457020 |
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E-Mail : |
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|
Liaison Office : |
Located at : ·
Ahmadabad ·
Bangalore ·
Hyderabad ·
New Delhi ·
Bangladesh ·
Malaysia |
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|
|
|
Ahmadabad Branch : |
702, Corporate House, Opposite Dinesh Hall, Income Tax Aashram Road,
Ahmadabad – 380009, India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Mukund Chunilal Kithari |
|
Designation : |
Director |
|
Address : |
D-3 Hiramanek CHS Limited, Baptista Road, Viler Parle (West), Mumbai –
400056, Maharashtra, India |
|
Date of Birth/Age : |
27.02.1954 |
|
Date of Appointment : |
16.08.2004 |
|
DIN No.: |
1352367 |
|
|
|
|
Name : |
Mr. Chandrakant Chunilal Kothari |
|
Designation : |
Director |
|
Address : |
601, Harivijay Society, Bhagat Singh Road, Vile Parle (west), Mumbai –
400056, Maharashtra, India |
|
Date of Birth/Age : |
18.12.1959 |
|
Date of Appointment : |
16.08.2004 |
|
DIN No.: |
1352294 |
|
|
|
|
Name : |
Mr. Aruna Mukund Kothari |
|
Designation : |
Director |
|
Address : |
D-3 Hiramanek CHS Limited, Baptista Road, Viler Parle (West), Mumbai –
400056, Maharashtra, India |
|
Date of Birth/Age : |
20.01.1958 |
|
Date of Appointment : |
16.08.2004 |
|
DIN No.: |
1250298 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U29290MH1994PTC082082 |
KOTHRI
PHARMA MACHINES EQUIPMENTS PRIVATE LIMITED |
Director |
17/10/1994 |
17/10/1994 |
- |
Active |
NO |
|
2 |
U29297MH2004PTC148014 |
PRECIKOT
PHARMA PRIVATE LIMITED |
Director |
16/08/2004 |
16/08/2004 |
- |
Active |
NO |
|
Name : |
Mrs. Meena Chandrakant Kothari |
|
Designation : |
Director |
|
Address : |
601, Harivijay Society, Bhagat Singh Road, Vile Parle (west), Mumbai –
400056, Maharashtra, India |
|
Date of Birth/Age : |
25.09.1963 |
|
Date of Appointment : |
16.08.2004 |
|
DIN No.: |
1352331 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U29290MH1994PTC082082 |
KOTHRI
PHARMA MACHINES EQUIPMENTS PRIVATE LIMITED |
Director |
17/10/1994 |
17/10/1994 |
- |
Active |
NO |
|
2 |
U29297MH2004PTC148014 |
PRECIKOT
PHARMA PRIVATE LIMITED |
Director |
16/08/2004 |
16/08/2004 |
- |
Active |
NO |
|
Name : |
Mr. Pranav Kothari |
|
Designation : |
Director |
|
Address : |
D-3 Hiramanek CHS Limited, Baptista Road, Viler Parle (West), Mumbai –
400056, Maharashtra, India |
|
Date of Birth/Age : |
03.10.1978 |
|
Date of Appointment : |
02.04.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mukund Chunilal Kithari |
|
50000 |
|
Chandrakant Chunilal Kothari |
|
50000 |
|
Aruna Mukund Kothari |
|
50000 |
|
Meena Chandrakant Kothari |
|
50000 |
|
|
|
|
|
TOTAL |
|
200000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
|
|
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Formulation and Packaging Machines. |
GENERAL INFORMATION
|
Customers : |
·
Abaso s. Masal ·
AB Techno Sales ·
Adarsh Steel ·
Adroit Management Consultants ·
Aggarwal Road Lines ·
Air Cool ·
Ami Polymer Private Limited ·
Angel Control System ·
Anmol Textile Waste ·
Anurag Dubey ·
Apollo Electrical Industries ·
Arcraft Plasma Eqpt.India Private Limited ·
Ashmin Engineering Works ·
Ashok Ratilal Doshi ·
Ashwini Enterprises ·
Auto Hangar (India) Private Limited ·
Bharat Steel Traders ·
Brilliant Pharma Machinery ·
Champion Pharma Machines |
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·
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Suppliers : |
·
Bhavana Enterprises ·
Chetankumar Sharma ·
Cyberline Solution ·
Grace Engineers ·
Kusum Engineering ·
Popat Panchal ·
Priti Construction ·
Samson Controls Private Limited ·
Sanjit Ghose ·
The New India Assurance Company Limited ·
Shree Siddhi Vinayak Developers ·
S.N.Engineering ·
Shree Ganesh Engineering – Labour ·
Sunita Tools Private Limited |
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No. of Employees : |
Not Available |
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Bankers : |
·
Kotak
Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai –
400021, Maharashtra, India ·
HDFC Bank ·
CITI BANK |
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Facilities : |
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Banking
Relations : |
---- |
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Auditors : |
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|
Name : |
P M Bavishi and Company Chartered Accountant |
|
Address : |
7, Round Building, 3rd Floor, R S Sapre Marg, Kalbadevi,
Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-22005316 / 2764 |
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Fax No.: |
91-22-26465343 |
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Email : |
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|
Pan No.: |
AAKFM4958P |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs. 2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs. 2.000
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 |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
1.600 |
|
|
3] Reserves & Surplus |
8.061 |
5.338 |
2.981 |
|
|
4] (Accumulated Losses) |
(0.006) |
(0.008) |
(0.005) |
|
|
NETWORTH |
10.055 |
7.330 |
6.576 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0000 |
0.000 |
|
|
2] Unsecured Loans |
20.779 |
11.076 |
11.331 |
|
|
TOTAL BORROWING |
20.779 |
11.076 |
11.331 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
30.834 |
18.406 |
17.907 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13.864 |
14.233 |
14.595 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
4.043 |
2.805 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
33.948
|
17.539 |
6.810 |
|
|
Sundry Debtors |
12.246
|
14.264 |
18.360 |
|
|
Cash & Bank Balances |
0.266
|
0.295 |
0.214 |
|
|
Other Current Assets |
2.929
|
2.500 |
2.577 |
|
|
Loans & Advances |
18.623
|
14.239 |
12.327 |
|
Total
Current Assets |
68.012
|
48.837 |
40.288 |
|
|
|
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
48.273
|
41.997 |
32.896 |
|
|
Provisions |
6.852
|
5.521 |
4.133 |
|
Total
Current Liabilities |
55.125
|
47.518 |
37.029 |
|
|
Net Current Assets |
12.887
|
1.319 |
3.259 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.040 |
0.049 |
0.053 |
|
|
|
|
|
|
|
|
TOTAL |
30.834 |
18.406 |
17.907 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
NET PROFIT /
(LOSS) BEFORE TAX |
4.006 |
3.404 |
2.985 |
|
|
|
|
|
|
|
Less |
TAX |
1.250 |
1.060 |
1.090 |
|
|
|
|
|
|
|
|
NET PROFIT /
(LOSS) AFTER TAX |
2.756 |
2.344 |
1.895 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5.338 |
2.981 |
1.895 |
|
|
|
|
|
|
|
|
DEFFERED TAX ASSETS
|
0.033 |
0.012 |
-- |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
8.061 |
5.338 |
2.981 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.78 |
11.72 |
9.47 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.36
|
5.39 |
5.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.46 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
7.54
|
7.99 |
7.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23
|
1.02 |
1.08 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Corporate
identity number of the company |
U29297MH2004PTC148014 |
|
Name of the
company |
PRECIKOT PHARMA PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
601 Hari Vijay
Societybhagat Singh Road, Vile Parle (W), Mumbai – 400056, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Kotak Mahindra
Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Nature of
instrument creating charge |
Memorandum of Entry
by Deposit of Title Deeds. |
|
Date of
instrument Creating the charge |
17/08/2011 |
|
Amount secured by
the charge |
Rs. 17.08.2011 |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Applicable Rate:
12.5% p.a. Terms of repayment Equated Monthly
Installment of Rs.1,82,971/- For 120 months. Margin Nil Extent and operation of the charge First and
exclusive charge by way of Mortgage over Immovable property of the Company,
in favour of Kotak Mahindra Bank Limited as security for repayment of
financial facilities granted by the Bank to the Company. Other Nil |
|
Short particulars
of the property charged (Including location of the property) |
Unit No.514, adms.
1261 sq.ft., Situated in Western Edge II Lying at S.No.163A and 165 at
Village Magathane, taluka Borivali (East) Mumbai. |
FIXED ASSETS :
·
Active Honda
·
Air Conditioner
·
Computer System
·
Dom Camera
·
Electrical Fitting
·
Factory Premises
·
Furniture and
Fixtures
·
Machinery
·
Motor Car
·
Telephone System
·
Water Cooler
·
Wire Rope Electric Hoist
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. 53.26 |
|
|
1 |
Rs. 82.09 |
|
Euro |
1 |
Rs. 68.90 |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.