MIRA
INFORM REPORT
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Report Date : |
29.06.2011 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL CALCIUM PRIVATE LIMITED |
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Registered Office : |
No.126, SIPCOT Industrial Complex, Dharmapuri District, Hosur – 635
126, Tamilnadu |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
10.10.1979 |
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Com. Reg. No.: |
181-9946 |
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Capital
Investment / Paid-up Capital : |
Rs.4.172 Millions |
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CIN No.: [Company
Identification No.] |
U02429TZ1979PTC009946 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEG00057B CHEG05659D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of calcium Sodium and its compounds and
other chemicals. |
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No. of Employees
: |
50
(Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 830000 |
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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 – 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/ Factory : |
No.126, SIPCOT Industrial Complex, Dharmapuri District, Hosur – 635
126, |
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Tel. No.: |
91-4344-406000 / 500683 / 276958 / 276959 / 276235 |
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Fax No.: |
91-4344-576359 / 276359 |
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E-Mail : |
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Website : |
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Corporate Office : |
Koramangala, IIIrd Block, |
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Tel. No.: |
91-80-25523119/ 25520831/ 25530831/ 25531752 / 25535374 |
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Fax No.: |
91-80-25530807 |
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E-Mail : |
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Corporate Office : |
No. 1, |
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Tel. No.: |
91-80-40554500 |
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Fax No.: |
91-80-25530807 |
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E-Mail : |
info@globalcalciumpharma.com |
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Branches : |
30, Rajaji Salai, Hongkong Bank Building, Chennai – 600 001, |
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Tel. No.: |
91-44-5263946 |
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Fax No.: |
91-44-5223217 |
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E-Mail : |
DIRECTORS
As on 27.09.2010
|
Name : |
Mr. Arif Vazirally |
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Designation : |
Managing Director |
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Address : |
381, |
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Date of Birth/Age : |
16.03.1949 |
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Date of Appointment : |
10.10.1979 |
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DIN : |
00256108 |
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Name : |
Mr. Muthuraman Chandrasekar |
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Designation : |
Director |
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Address : |
B9 & 10, Sipcot Housing Colony, Hosur – 635126, Dharmapuri, |
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Date of Birth/Age : |
10.08.1953 |
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Date of Appointment : |
31.08.1999 |
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DIN : |
00286153 |
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Name : |
Mr. Nahid Vazirally |
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Designation : |
Director |
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Address : |
381, |
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Date of Birth/Age : |
07.08.1953 |
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Date of Appointment : |
28.06.2002 |
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Din : |
00265406 |
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Name : |
Mr. Sahil Vazirally |
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Designation : |
Director |
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Address : |
381, |
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Date of Birth/Age : |
16.04.1978 |
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Date of Appointment : |
29.09.2007 |
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DIN : |
01478059 |
KEY EXECUTIVES
|
Name : |
Mr. Viswanathan |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
T. Rafeeq Ahmed |
|
4668 |
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M. D. Narayan |
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48000 |
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Arif Vazirally |
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110740 |
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M. D. Balakrishna |
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10000 |
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Ashok Sinha |
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2000 |
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Nahid Vazirally |
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12388 |
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Anur Investments
Private Limited ( |
|
129587 |
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Rishaad Vazirally |
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7424 |
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Sahil Vazirally |
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8500 |
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Beblec [ |
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36240 |
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Nihal Alladin |
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1492 |
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Ahmed Mohammed
and Abdul Razak Osman |
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1332 |
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Ameer Aladdin |
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168 |
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Farah Aladdin |
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164 |
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Rajab Vaziralli
and Noorjehan Vazirally |
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4980 |
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Noorjehan
Vazirally and Rajab Vaziralli |
|
4668 |
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T. Adnan Ahmed |
|
2668 |
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T. Faizan Ahmed |
|
2664 |
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Arif Vazirally
and Nahid Vazirally |
|
29569 |
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Total |
|
417252 |
As on 27.09.2010
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Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Bodies
corporate |
|
40.00 |
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Directors
or relatives of directors |
|
43.00 |
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Others
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|
17.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of calcium Sodium and its compounds and
other chemicals. |
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Products : |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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GENERAL INFORMATION
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No. of Employees : |
50
(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 : |
R. Subramanian and Company Chartered Accountants |
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Address : |
36, |
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Memberships : |
Ř Confederation of Indian Industry Ř Indian Drug Manufacturers Association Ř CHEMEXIL |
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Associates/Subsidiaries : |
Calcitech India
Private Limited CIN No. :
U32109TZ1989PTC008787 |
CAPITAL STRUCTURE
As on 27.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450,000 |
Equity Shares |
Rs.10/- each |
Rs.4.500 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
417,252 |
Equity Shares |
Rs.10/- each |
Rs.4.172
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
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1] Share Capital |
4.172 |
4.172 |
4.172 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
203.563 |
166.584 |
145.061 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
207.735 |
170.756 |
149.233 |
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LOAN FUNDS |
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1] Secured Loans |
122.358 |
104.234 |
114.425 |
|
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2] Unsecured Loans |
0.000 |
3.362 |
0.250 |
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TOTAL BORROWING |
122.358 |
107.596 |
114.675 |
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DEFERRED TAX LIABILITIES |
31.795 |
29.897 |
31.354 |
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TOTAL |
361.888 |
308.249 |
295.262 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
235.831 |
175.752 |
169.703 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
25.967 |
39.874 |
40.092 |
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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 |
39.308
|
33.937
|
33.821 |
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Sundry Debtors |
99.253
|
81.481
|
74.807 |
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Cash & Bank Balances |
27.736
|
17.278
|
4.520 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
115.920
|
91.517
|
74.646 |
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Total
Current Assets |
282.217
|
224.213
|
187.794 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Current Liabilities |
129.736
|
88.183
|
68.367 |
|
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Provisions |
52.391
|
43.407
|
33.960 |
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Total
Current Liabilities |
182.127
|
131.590
|
102.327 |
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Net Current Assets |
100.090
|
92.623
|
85.467 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
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|
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TOTAL |
361.888 |
308.249 |
295.262 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
566.437 |
556.210 |
370.988 |
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Other Income |
7.680 |
1.989 |
7.426 |
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TOTAL (A) |
574.117 |
558.199 |
378.414 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
491.691 |
477.071 |
325.269 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
82.426 |
81.128 |
53.145 |
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Less |
FINANCIAL
EXPENSES (D) |
10.546 |
27.605 |
12.504 |
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
71.880 |
53.523 |
40.641 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
16.604 |
15.949 |
15.420 |
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PROFIT BEFORE
TAX (E-F) (G) |
55.276 |
37.574 |
25.221 |
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Less |
TAX (I) |
15.856 |
13.610 |
11.527 |
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PROFIT AFTER TAX
(G-I) (J) |
39.420 |
23.964 |
13.694 |
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|
Earnings Per
Share (Rs.) |
94.47 |
57.43 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.87
|
4.29
|
3.62 |
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Net Profit Margin (PBT/Sales) |
(%) |
9.76
|
6.76
|
6.80 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.67
|
9.39
|
7.05 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.22
|
0.17 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.46
|
1.40
|
1.45 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.55
|
1.70
|
1.84 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS REVIEW:
During the year Net Sales were slightly higher at Rs.566.437 millions
compared to previous year Sales of Rs.556.210 millions. Earnings Before
Interest, Taxes, Depreciation and Amortization (EBITDA) was higher at Rs.94.639
millions during the year compared to Rs.81.128 millions during 2008-09. In view
of judicious management of funds and forex cover, Finance Charges were reduced
considerably resulting in a higher Profit After Tax of Rs.39.420 Millions as
against Rs.23.964 Millions during he previous year.
PLANT UPGRADATION:
During the year, the Company commissioned the equipments for
re-processing/ re-conversion of imported inputs through micro pulverizing, bulk
blending and bulk packing which helped the Company to achieve higher volumes,
despite economic slow down. The Company also completed the civil works relating
to construction of raw materials and finished goods warehouses during the year.
In addition, the Company also finalized negotiation with Novartis
Consumer Health, Swiss to further enhance the production capacity by putting up
one more Spray drier of 270 MT for which an interest-free advance of Euro
250000/- was received from them in March 09. In view of space constraint and
economies of scale, Management has decided to put up this new unit at the
factory of the subsidiary company Calcitech India Private Limited so that
production can be made on conversion basis with the subsidiary. The cost of the
project is around Rs.15.000 millions including civil works and Spray drier will
be functional by end July 09. Barring unforeseen circumstances, these
investments will help the Company and the subsidiary to achieve better results
during the current year.
FORM 8 :
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U02429TZ1979PTC009946 |
|
Name of the
company |
GLOBAL CALCIUM PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No.126, SIPCOT Industrial Complex, Dharmapuri District, Hosur – 635
126, |
|
Type of charge |
Book Debts Movable Property Others |
|
Particular of
charge holder |
Citi Bank, #506-507, Level 5, Prestige Meridian 2, #30,
M.G. Road, Bangalore – 560001, Karnataka, India |
|
Nature of
description of the instrument creating or modifying the charge |
Goods Security
Agreement. |
|
Date of
instrument Creating the charge |
21.06.2010 |
|
Amount secured by
the charge |
Rs.65.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest : As may be
mutually agreed to from time to time Terms of Repayment : Repayable On
Demand Fund based limit
of Rs.40.000 millions Non-fund based
limit of Rs.25.000 millions Margin: 30% against
stocks and 30% against book debts Extent and Operation of the charge: First charge on the
borrowers moveable assets forming part of its current assets both present and
future and it shall rank pari passu with the charges created or to be created
by the borrower in favour of The Indian Bank without any inter-se preference
or priority |
|
Short particulars
of the property charged |
The whole of movable assets, including stocks of raw
materials, goods in process, semi finished goods and all finished goods and articles together with stores,
components and spares in borrower's premises present and future book debts,
outstanding monies, receivables, claims, bills, investments, rights to or on
moveable properties and moveable assets forming part of current assets. |
FIXED ASSETS:
- Land
- Non
- Staff Quarters
- Plant and Machinery
- Plant and Machinery – ETP
- Electric Installations
- Factory Equipments
- Office Equipments
- Vehicles
- Computer
- Generator
- Air Conditioner
- Motor Cycle
- Lab Equipments
- Capital WIP – Buildings
- Windmill Assets
- Land – Windmills
- Plant and Machinery - Windmills
WEBSITE DETAILS:
PROFILE :
Subject is the world's producer of high quality calcium compounds and a
full range of mineral gluconates, catering to the pharmaceutical,
nutraceutical, food and beverage sectors.
The Client includes all Major Specialty Pharmaceutical, Nutraceutical,
Consumer Health, Food and Beverages companies across the Globe.
Member of the Calcium Group of Companies, Subject has state-of-the-art
'ISO 9001:2000' and WHO-GMP certified production facilities in Bangalore
(India), that caters to the requirements of leading conglomerates around the
world meeting their need for active compounds that are used in human and
veterinary pharmaceuticals, nutraceuticals, food and beverages, health care and
cosmetics, besides a whole lot of other technical applications.
All the operations are driven towards business excellence within the
health care industry, offering clients a one-stop-shop for specialty bulk
ingredients that are used in various challenging applications, in a variety of
sterile and non-sterile pharmaceuticals, health products and mineral
supplements.
LOCATION:
Subject is located in the city of
Subject operates out of this professional environment in
Consequently,
The Global Group was initially conceptualized with the single objective of starting a small but highly quality conscious company, to produce Calcium Gluconate for the famed Swiss pharmaceutical major SANDOZ in the late 1970's.
In the early 1980's, Calcium
MANAGEMENT TEAM:
All the operations are driven towards business excellence within the health care industry, offering clients a one-stop-shop for specialty bulk ingredients that are used in various challenging applications, in a variety of sterile and non-sterile pharmaceuticals, health products and mineral supplements.
Founded in the early 1980's, Subject has today emerged as a strong and vibrant international company. Over the years, the close relationship they have nurtured with market-leading pharmaceutical, biotechnology, health care, food and beverage companies have provided great value and forms the basis of the expertise and consultancy in the application of calcium and mineral compounds.
The management team consists of Technocrats and entrepreneurs from backgrounds ranging from pure science to Investment Banking to Consulting.
All the directors have strong domain expertise in the life sciences segments and their stewardship in several leading trade bodies nationally and Internationally.
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.45.05 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.64.34 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
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.