MIRA
INFORM REPORT
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Report Date : |
21.01.2011 |
IDENTIFICATION DETAILS
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Name : |
TODY BROTHERS PRIVATE LIMITED |
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Registered
Office : |
303, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
15.02.1993 |
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Com. Reg. No.: |
11-070792 |
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CIN No.: [Company Identification
No.] |
U51900MH1993PTC070792 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT10744G |
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PAN No.: [Permanent Account No.] |
AAACTU487D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Suppliers of Bulk drugs, pharmaceutical chemical and
Formulations. |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 41000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
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NOTES :
Any query related to this report can be made
on e-mail : while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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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 |
INFORMATION PARTED BY
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Name : |
Ms. Shubhangi |
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Designation : |
Accounts Department |
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Date : |
19.01.2011 |
LOCATIONS
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Registered Office : |
303, |
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Tel. No.: |
91-22-66374668 |
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Fax No.: |
91-22-22054399 |
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E-Mail : |
today@vsnl.net |
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Website : |
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Mailing Address : |
LEO Alliance
Limited, 328, |
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Tel. No.: |
91-852-2723 5541 |
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Fax No.: |
91-852-27235542 |
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Godown Address : |
K-2, Munisuvrat Complex, Phase II, Ground
Floor, Gala No.4, |
DIRECTORS
As On : 30.09.2010
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Name : |
Mr. Anil Bankatlal Tody |
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Designation : |
Director |
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Address : |
501, Ratika Apartment, 2nd |
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Date of Birth/Age : |
18.02.1957 |
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Date of Appointment : |
15.06.1993 |
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DIN No : |
01182126 |
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Name : |
Mr. Mayank Anil Tody |
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Designation : |
Managing Director |
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Address : |
501, Ratika Apartment, 2nd |
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Date of Birth/Age : |
27.07.1984 |
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Date of Appointment : |
01.08.2002 |
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DIN No : |
01182164 |
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Name : |
Mr. Abhay Bankatlal Tody |
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Designation : |
Director |
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Address : |
502, Ratika Apartment, 2nd |
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Date of Birth/Age : |
18.03.1961 |
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Date of Appointment : |
15.06.1993 |
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DIN No : |
00250227 |
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Name : |
Ms. Rashmi Anil Tody |
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Designation : |
Director |
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Address : |
501, Ratika Apartment, 2nd |
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Date of Birth/Age : |
13.07.1963 |
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Date of Appointment : |
24.12.2004 |
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DIN No : |
01182400 |
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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Mr. Anil Bankatlal Tody |
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103240 |
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Mr. Abhay Bankatlal Tody |
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510 |
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Mr. Mayank Anil Tody |
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67000 |
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Ms. Rashmi Anil Tody |
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72500 |
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Mr. Nishank Anil Tody |
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68000 |
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Mr. Anil Bankatlal Tody (HUF) |
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63750 |
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Ms. Nikita Mayank Tody |
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25000 |
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Total |
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400000 |
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 |
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100.000 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Suppliers of Bulk drugs, pharmaceutical chemical and
Formulations. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
15 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Udani Mehta and Company Chartered Accountant |
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Address : |
Omkaram, 37/1966, Gandhi Nagar, Service Road, Bandra (E),
Mumbai-400051, |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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400000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.000 millions |
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100000 |
12% Non –Cumulative P}reference Shares |
Rs. 10/- each |
Rs.1.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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400000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.000
millions |
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Note : Includes 2500000 towards issue of 250000 Right
Shares during the year.
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 |
4.000 |
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 |
6.455 |
5.738 |
5.455 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
10.455 |
7.238 |
6.956 |
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LOAN FUNDS |
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1] Secured Loans |
3.684 |
1.156 |
0.000 |
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2] Unsecured Loans |
7.568 |
6.905 |
6.050 |
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TOTAL BORROWING |
11.252 |
8.061 |
6.050 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
21.707 |
15.299 |
13.005 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.209 |
2.051 |
0.402 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
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 |
32.399
|
24.902 |
12.281 |
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Sundry Debtors |
38.730
|
19.434 |
28.209 |
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Cash & Bank Balances |
1.441
|
3.944 |
0.350 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
0.940
|
0.963 |
0.970 |
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Total
Current Assets |
73.510
|
49.243 |
41.810 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
54.553
|
35.485 |
28.497 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
0.460
|
0.510 |
0.710 |
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Total
Current Liabilities |
55.013
|
35.995 |
29.207 |
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Net Current Assets |
18.498
|
13.248 |
12.603 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
21.707 |
15.299 |
13.005 |
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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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Turnover |
141.470 |
159.792 |
138.108 |
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Other Income |
NA |
NA |
NA |
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TOTAL (A) |
NA |
NA |
NA |
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Less |
EXPENSES |
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Selling and Distribution Expenses |
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Office Expenses |
NA |
NA |
NA |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
NA |
NA |
NA |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
NA |
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Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.284 |
0.632 |
0.976 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.291 |
0.236 |
0.056 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.993 |
0.396 |
0.920 |
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Less |
TAX (H) |
0.300 |
0.160 |
0.360 |
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PROFIT AFTER TAX
(G-H) (I) |
0.693 |
0.236 |
0.560 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.868 |
3.586 |
2.997 |
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Less/ Add |
Short
/ Excess Tax Provision Written Off / Back |
0.024 |
0.047 |
0.029 |
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BALANCE CARRIED
TO THE B/S |
4.585 |
3.869 |
3.586 |
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IN FOREIGN
CURRENCY |
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Earnings Per
Share (Rs.) |
1.73 |
1.57 |
3.73 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.70
|
0.25 |
0.67 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.29
|
0.77 |
2.18 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.05 |
0.13 |
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Debt Equity Ratio (Total Liability/Networth) |
|
6.34
|
6.09 |
5.07 |
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Current Ratio (Current Asset/Current Liability) |
|
1.34
|
1.37 |
1.43 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
54.553 |
35.485 |
28.497 |
|
Total |
54.553 |
35.485 |
28.497 |
OPERATIONS
The Company has during the year achieved a turnover
of Rs.141.470 millions against Rs.159.792 millions in the preceding financial
year. Net profit for the year Rs.0.993 million, Before Provision for Taxation.
FORM 8
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Corporate
identity number of the company |
U51900MH1993PTC070792 |
|
Name of the
company |
TODY BROTHERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
303, |
|
This form is for |
Modification of
charge |
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Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
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Particular of
charge holder |
Standard Chartered Bank, SME Credit, 23-25, M. |
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Nature of
instrument creating charge |
Hypothecation
Agreement – Supplemental |
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Date of
instrument Creating the charge |
07.12.2010 |
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Amount secured by
the charge |
Rs.61.000
millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Credit Facility.
Interest / Commission- As agreed by and with the Bank from time to time Terms of repayment As agreed by and
with the Bank from time to time Margin As applicable, if
any Extent and operation of the charge The Bank is
having first and exclusive charge on security given by the Company, |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation by way
of first and exclusive charge on : a) all the stock in trade both present and
future consisting of raw materials, finished goods, goods in process of
manufacturing and other merchandise b) All the present and future book debts,
outstanding moneys receivable, claims and bills. |
|
Charge
identification number of the charge to be modified |
10193368 |
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Date of
instrument modifying the charge |
10.12.2009 |
|
Particulars of
the present modification |
By present modification,
the existing charge of Rs.27.500 millions enhanced to Rs.61.000 millions
against the security of hypothecation by way of first and exclusive charge on
: a) all the stock in trade both present and
future consisting of raw materials, finished goods, goods in process of
manufacturing and other merchandise b) All the present and future book debts,
outstanding moneys receivable, claims and bills. |
FIXED ASSETS
- Computer systems
- Holiday Home
- Furniture and Fixtures
- Office Equipments
- Motor Bike
- Motor Car
- Bhiwandi Godown
WEB SIDE DETAILS
HISTORY
The company was started in a very small rented office with 3
employees. The Company dealt in Pharmaceuticals products it use to sell products
of Kopran, Ranbaxy, Sun Pharma and also took agencies for few products from
international companies to sell their products in the local Indian market.
Spreading from
The company had a simple strategy. To earn and let people
earn profits. They always shared profits with all associates. Therefore, local
agents were appointed in all part of our Country, territory wise. Each agent
was assured of his returns on involvement whether it was finance or time. Thus,
making the agents virtual partners in business, the company went on increasing
sales. This assured more quantum and safe business. Also, the agents were
benefited as they never needed to go to different suppliers hunting for
profits.
But in the Pharmaceutical industry, the investments were too
high and then in the 90"s
GLOBAL
PARTNERS
To achieve the
company's goals, it focuses to work closely with customers and to help manage
all their sourcing of pharmaceutical, chemical and raw material products and
services from
The company sold
material into
Later in 2000 the Indian System of Joint Family, had split so the brothers
separated and one of the brothers shifted
The operations in
The Company has a
strong financing from its own concern - Leo Alliance Limited in
Subject has a very good backing into the pharmaceutical market thus it did not
take much time to capture the market. At the moment the Company is advertising
its sales into the chemical market and promoting it to catch a hold onto the
Pharmaceutical and the Chemical market both.
PRIVACY POLICY
Subject
("The Company") knows that you care how information about you is used
and shared, and we appreciate the trust that we will do so carefully and
sensibly. This notice describes our privacy policy. By visiting their website,
the are accepting the practices described in this Privacy Notice.
The
information we learn from customers helps us personalize and continually
improve your delivery of business information. Here are the types of
information we gather:
Information
The Give Them:
They
receive and store any information the enter on their Web site or give them in
any other way. The can choose not to provide certain information, but then the
might not be able to take advantage of many of our features. We use the
information that the provide for such purposes as responding to the requests,
customizing future shopping for the, improving their products, and
communicating with you.
Any
information volunteered by a user, such as survey information or personal
information requested for site registrations, promotions, order fulfillment,
etc.
E-mail
Communications:
To help us make e-mails more useful and interesting, we
often receive a confirmation when you open e-mail from The Company if your
computer supports such capabilities. We also compare our customer list to lists
received from other companies, in an effort to avoid sending unnecessary
messages to our customers. If you do not want to receive e-mail or other mail
from us, please adjust your Customer Communication Preferences.
The e-mail address
of a user who communicates with us via e-mail.
The e-mail address
of a user who posts a message to our bulletin board.
The e-mail address
of a user who posts a message to our chat areas.
Information from
Other Sources:
They might receive
information about you or your organization from other sources and add it to our
account information.
The information we collect may be used for any of the following purposes:
• To improve the content or organization of
the site.
• To customize the
content and/or layout for each individual user.
• To notify consumers
about updates to our Web site.
• To assist The
Company in contacting consumers for marketing purposes.
• To assist other
organizations in contacting consumers for marketing purposes.
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.45.58 |
|
|
1 |
Rs.72.73 |
|
Euro |
1 |
Rs.61.45 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.