1. Summary Information
|
|
|
Country |
|
|
Company Name |
SAMARTH LIFE
SCIENCES PRIVATE LIMITED |
Principal Name 1 |
Mr. Kantibhai Kalidas Parmar |
|
Status |
Good |
Principal Name 2 |
Mr. Chittozhi Radhakrishnan |
|
|
|
Registration # |
11-105511 |
|
Street Address |
19, Prem Kunj, 1st Floor, Behind Arora Cinema, Matunga,
Mumbai – 400016, |
||
|
Established Date |
29.01.1997 |
SIC Code |
-- |
|
Telephone# |
-- |
Business Style 1 |
Manufacturer |
|
Fax # |
-- |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Pharmaceuticals |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.2,462,000/- |
Product Name 3 |
-- |
|
Shareholders |
Others – 100.00 % |
Banking |
-- |
|
Public Limited Corp. |
NO |
Business Period |
14 years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
A
(62) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
320,428,000 |
Current Liabilities |
104,113,000 |
|
Inventories |
58,415,000 |
Long-term Liabilities |
0,000,000 |
|
Fixed Assets |
144,321,000 |
Other Liabilities |
344,000 |
|
Deferred Assets |
0,000,000 |
Total Liabilities |
104,457,000 |
|
Invest& other Assets |
541,390,000 |
Retained Earnings |
957,635,000 |
|
|
|
Net Worth |
960,097,000 |
|
Total Assets |
1,064,554,000 |
Total Liab. & Equity |
1,064,554,000 |
|
Total Assets (Previous Year) |
715,476,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
04.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAMARTH LIFE SCIENCES PRIVATE LIMITED (w.e.f. 31.03.2004) |
|
|
|
|
Formerly Known as : |
SOHINI HOLDINGS AND FINANCE PRIVATE LIMITED |
|
|
|
|
Registered Office : |
19, Prem Kunj, 1st Floor, Behind Arora Cinema, Matunga,
Mumbai – 400016, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
29.01.1997 |
|
|
|
|
Com. Reg. No.: |
11-105511 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U65990MH1997PTC105511 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS43715A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCS4014L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Pharmaceuticals |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 3840000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. Profit and Loss Account of the company is not
available. |
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) |
|
|
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 : |
19, Prem Kunj, 1st Floor, Behind Arora Cinema, Matunga,
Mumbai – 400016, |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
|
|
Tel. No.: |
91-22-26763735 / 26763634 / 26763703 |
|
Fax No.: |
91-22-5695 9185 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Kantibhai Kalidas Parmar |
|
Designation : |
Director |
|
Address : |
10, Bhukhanan Sitaram Chawl, Malad (East), Mumbai, |
|
Date of Birth/Age : |
02.05.1950 |
|
Date of Appointment : |
01.02.2006 |
|
|
|
|
Name : |
Mr. Chittozhi Radhakrishnan |
|
Designation : |
Director |
|
Address : |
F-3, Geeta Nagar, Phase 2, |
|
Date of Birth/Age : |
01.06.1952 |
|
Date of Appointment : |
01.02.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Rajiv G. Shah |
|
50000 |
|
Mr. Pranav G. Shah |
|
50000 |
|
Mr. Gunvantlal Shah |
|
50000 |
|
Mrs. Sohini G. Shah |
|
50000 |
|
Mrs. Heena Shah |
|
23100 |
|
Mrs. Vijal Shah |
|
23100 |
|
Total |
|
246200 |
As on 30.09.2010
|
Category |
Percentage |
|
Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceuticals |
|
|
|
|
Products : |
v
Cardiovascular Drugs v
Antibacterials v
Other Specialities v
Bulk Drugs v
Infertility v
Sclerosants v
Mucolytic – Agent v
Oncology v
Diagnostic Products |
|
|
|
|
Brand Names : |
v
Adrenor v
Mucomix v
Kenadion v
Distinon v
Uro tone |
|
|
|
|
Exports : |
|
|
Countries : |
v
v
v
South East Asian countries and many African
states. |
GENERAL INFORMATION
|
Bankers : |
Not Available |
|
|
|
|
Financial Institution : |
Department of industries Himachal Pradesh |
|
Auditors : |
|
|
Name : |
Satish Sony and Company Chartered Accountant |
|
Address : |
15/1, Metro House, Colaba, Mumbai – 400001, |
|
Tel No. : |
91-22-32903287 |
|
Fax No. : |
91-22-22876467 |
|
E-Mail : |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs. 10/- Each |
Rs.2.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
246200 |
Equity Shares |
Rs. 10/- Each |
Rs.2.462
millions |
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 |
|
|
|
|
|
1] Share Capital |
2.462 |
2.462 |
2.462 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
957.635 |
671.057 |
403.592 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
960.097 |
673.519 |
406.054 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.344 |
0.778 |
0.510 |
|
|
|
|
|
|
|
|
TOTAL |
960.441 |
674.297 |
406.564 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
144.321 |
84.413 |
60.063 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
541.390 |
162.944 |
200.076 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
58.415
|
50.709 |
35.539 |
|
|
Sundry Debtors |
91.898
|
76.153 |
65.479 |
|
|
Cash & Bank Balances |
16.343
|
9.442 |
13.220 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
212.187
|
331.815 |
87.786 |
|
Total
Current Assets |
378.843
|
468.119 |
202.024 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
21.079
|
10.252 |
9.165 |
|
|
Provisions |
83.034
|
30.927 |
46.434 |
|
Total
Current Liabilities |
104.113
|
41.179 |
55.599 |
|
|
Net Current Assets |
274.730
|
426.940 |
146.425 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
960.441 |
674.297 |
406.564 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.11
|
0.06 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.64
|
11.37 |
3.63 |
LOCAL AGENCY FURTHER INFORMATION
Form 8 :
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U65990MH1997PTC105511 |
|
Name of the
company |
SAMARTH LIFE SCIENCES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
19, Prem Kunj, 1st Floor, Behind Arora Cinema, Matunga,
Mumbai – 400016, |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Department of Industries
Himachal, Single Window Clearance Agency, Baddi, Solan – 173205, |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of
Hypothecation for central capital investment subsidy. |
|
Date of
instrument Creating the charge |
06.11.2009 |
|
Amount secured by
the charge |
Rs.24.238
Millions |
|
Short particulars
of the property charged |
All Plant and
Machinery belonging to the unit situated at village Nalagarh Uperla, |
Fixed Assets :
- Land
- Building
- Plant and
Machinery
- Motor Car
- Computer and
Accessories
- Furniture,
Fixture and Equipment
Profile
They at Samrath are evolving into a true life science company aiming at exponential growth through expansion in new therapeutic area and exploring new molecules.
Samarth is a market driven; technology based company with a strong R & D base and is aiming at creating a niche market for products which are mostly import substitutes and life saving Critical Care specialties.
Samarth Pharma commenced operations in 1963 from humble
beginnings and has today developed into a multi dimensional, multi location
pharmaceutical conglomerate. With the strength of 350 motivated and well
trained professionals, Samarth is blazing new trails in the successful
marketing of life saving molecules to leading doctors in
The products are manufactured under GMP facilities with raw materials imported from the best sources in the world. Samarth employs cutting edge technology for manufacturing and marketing its products. Armed with GMP and ISO 9001:2000 certification, Samarth is now looking beyond the horizon and planning forays into the developed western markets.
As part of the expansion plans, they intend setting up a backward integration plant for bulk drugs as well as a new state of the art WHO GMP formulation unit for the production of latest cancer drugs and hormones.
Spanning a period of more than three decades, they have contributed in evolving the Indian Pharmaceutical Industry from its very modest beginnings to its present US $ 6 billion turnover and shall continue to strive to produce quality drugs at reasonable prices.
They constantly challenge ourselves to be a step ahead in terms of quality and personalized service.
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 :
The 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.
The 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.45.12 |
|
|
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.62.32 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
62 |
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.