MIRA
INFORM REPORT
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Report Date : |
29.06.2011 |
IDENTIFICATION DETAILS
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Name : |
UNJHA PHARMACEUTICALS PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
20.11.2000 |
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Com. Reg. No.: |
04-038943 |
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Capital
Investment / Paid-up Capital : |
Rs.0.450 Millions |
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CIN No.: [Company
Identification No.] |
U24134GJ2000PTC038943 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMU00412G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Ayurvedic Medicines, Medicines and Pharmaceutical
Products. |
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No. of Employees
: |
150 [in office] Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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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 30000 |
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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 trade. 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 : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 : |
Mr. Vishnu Patel |
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Designation : |
General Manager |
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Contact No.: |
91-9327007448 |
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Date : |
17.06.2011 |
LOCATIONS
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Registered Office / Factory 1 : |
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Tel. No.: |
91-79-26858563 / 26858683 / 26858491 |
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Mobile No.: |
91-9327007448 (Mr. Vishnu Patel) |
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Fax No.: |
91-79-26858563 / 26858491 |
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E-Mail : |
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Website : |
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Area : |
25000 Sq.ft. |
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Location : |
Owned |
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Corporate Office
: |
805, Avdhesh, Opposite Gurudwara, |
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Area : |
3500 Sq.ft. |
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Location : |
Owned |
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Factory 2 : |
215, Kamalavilla, |
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Area : |
105000 Sq.ft. |
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Location : |
Owned |
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Branches : |
Located at
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DIRECTORS
As on 29.09.2010
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Name : |
Mr. Jashvant Bhogilal Shah |
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Designation : |
Director |
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Address : |
Bodhida, Near Gokul Hotel, |
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Date of Birth/Age : |
58 Years |
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Qualification : |
B. Com |
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Date of Appointment : |
20.11.2000 |
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DIN : |
00442510 |
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Name : |
Mrs. Shobhana Jashvant Shah |
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Designation : |
Director |
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Address : |
Bodhida, Near Gokul Hotel, |
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Date of Birth/Age : |
55 Years |
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Qualification : |
B. Com |
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Date of Appointment : |
20.11.2000 |
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DIN : |
00443269 |
KEY EXECUTIVES
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Name : |
Mr. Vishnu Patel |
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Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
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Names of Shareholders |
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No. of Shares |
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Jashvant Bhogilal Shah |
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21600 |
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Shobhana Jashvant Shah |
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16900 |
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Malav Jashvant Shah |
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3500 |
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Gatha Jashvant Shah |
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2500 |
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Jashvant Bhogilal Shah (HUF) |
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500 |
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Total |
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45000 |
As on 29.09.2010
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Ayurvedic Medicines, Medicines and Pharmaceutical Products. |
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Products : |
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Terms : |
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Selling : |
Credit [30 / 60 Days] |
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Purchasing : |
Credit [30 / 60 Days] |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
150 [in office] Approximately |
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Bankers : |
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Facilities : |
Total Facility Enjoyed – Rs.35.000 millions (from Axis Bank Limited)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
L. K. Shah and Company Chartered Accountant |
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Address : |
814, ATMA House, |
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Tel. No. : |
91-79-26583078 |
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Fax No. : |
91-79-27438143 |
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Associates/Subsidiaries : |
Aura Neutracitical Limited Line of Business: Manufacturer of Pharmaceutical Products. Address: 805, Avdhesh, Opposite Gurudwara, CIN : L65910GJ1997PLC033191 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50,000 |
Equity Share |
Rs.10/- Each |
Rs.0.500 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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45,000 |
Equity Share |
Rs.10/- Each |
Rs.0.450
million |
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FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.450 |
0.350 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
7.107 |
2.439 |
0.011 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.557 |
2.789 |
0.111 |
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LOAN FUNDS |
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1] Secured Loans |
20.662 |
1.041 |
0.760 |
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2] Unsecured Loans |
35.497 |
35.822 |
26.245 |
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TOTAL BORROWING |
56.159 |
36.863 |
27.005 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
63.716 |
39.652 |
27.116 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.466 |
1.503 |
1.726 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.013 |
1.350 |
1.269 |
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DEFERREX TAX ASSETS |
0.167 |
0.166 |
0.161 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
25.794
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16.398
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0.997
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Sundry Debtors |
33.419
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27.242
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22.419
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Cash & Bank Balances |
4.019
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0.040
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0.060
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Other Current Assets |
0.000
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0.000
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0.000
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Loans & Advances |
8.528
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1.677
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2.109
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Total
Current Assets |
71.760
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45.357
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25.585
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.265
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0.031
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Sundry Creditors |
8.418
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7.947
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--
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Provisions |
1.007
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0.746
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0.365
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Total
Current Liabilities |
9.690
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8.724
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1.625
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Net Current Assets |
62.070
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36.633
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23.960
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
63.716 |
39.652 |
27.116 |
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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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TURNOVER |
40.154 |
14.382 |
4.895 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.649 |
NA |
0.226 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.255 |
NA |
0.375 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.394 |
0.236 |
[0.149] |
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Less |
TAX (I) |
0.127 |
0.057 |
0.009 |
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PROFIT AFTER TAX
(G-I) (J) |
0.267 |
0.179 |
[0.158] |
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Earnings Per
Share (Rs.) |
5.95 |
5.10 |
-- |
Expected Sales (2010-11): Rs.65.000 millions
The above information has been parted by Mr. Vishnu Patel [General Manager]
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
0.66 |
1.24 |
(3.23) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.54 |
0.50 |
(0.55) |
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Return on Investment (ROI) (PBT/Networth) |
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0.05 |
0.08 |
(1.34) |
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Debt Equity Ratio (Total Liability/Networth) |
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8.71 |
16.35 |
257.93 |
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Current Ratio (Current Asset/Current Liability) |
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7.40 |
5.20 |
15.74 |
LOCAL AGENCY FURTHER INFORMATION
Trade References :
- Mahavir Enterprises - Ahmedabad
- Modern Plast Mould –
Financial Results and
Operations
The accounts (or the period under report
show a net Profit of Rs 0.394 million at against the ineviow yaw's Profit of Rs
0.236 million after providing depreciation of Rs.0.255 million and before
providing Income Tax provision of Rs 0.128 million und deferred tax assets of
Rs.0.001 million. The total net profit of Rs 0.267 million is earned over to
that Balance sheet.
Bankers Charges Report as per Registry
|
Corporate
identity number of the company |
U24134GJ2000PTC038943 |
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Name of the
company |
Unjha
Pharmaceuticals Private Limited |
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Address of the
registered office or of the principal place of business in |
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This form is for |
Modification of
Charge |
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Charge identification (ID) number of the charge to be modified |
10209524 |
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Type of charge |
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Particular of
charge holder |
Axis Bank Limited, Trishul, 3rd Floor, Opposite Samartheshwar
Temple, Law Garden Ellisbridge, Ahmedabad-380006, Gujarat, India Emil ID: cmchead.ahmedabad@axisbank.com
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Nature of
instrument creating charge |
Supplemental Deed
Of Hypothecation |
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Date of
instrument Creating the charge |
31.12.2010 |
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Amount secured by
the charge |
Rs.24.284
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- Base Rate + 5.00% i.e. 12.75 % p.a. with monthly rest12 months Terms of
Repayment - 12 months Margin - As Per
Sanction Letter And Agreement Extent and
Operation of the charge - The Charge Will Operate As First Charge On The Entire Current Assets Of The Company. |
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Short particular of
the property or asset(s) charged |
All The Stock In
Trade Both Present And Future Consisting Stock Including Raw Materials, Stock
In Process, Finished Goods, Cash, Bd And Other Current Assets Whatsoever,
Being Moveable Properties . |
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Particulars of the present modification |
The Limit Of
Operation Of The Charge Has Been Enhanced From Rs.20.000 millions To Rs.
24.284 million (Od (Mpower Od) Rs.14.000 millions And Tl(Mpower Tl) Rs.
10.284 millions) |
FIXED ASSETS :
·
Computer
·
Motor
Car
·
Motor Cycle
and Scooter
·
Trade
Mark
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 |
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|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.64.34 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
26 |
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.