1. Summary Information
|
|
|
Country |
|
|
Company Name |
SAMARTH PHARMA PRIVATE LIMITED |
Principal Name 1 |
Mr. Kanjibhai Parmar |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Chittozi Radhakrishnan |
|
|
|
Registration # |
11-110616 |
|
Street Address |
Samarth House, |
||
|
Established Date |
11.09.1997 |
SIC Code |
-- |
|
Telephone# |
91-22-66959186 / 28731021 / 28727930 / 26763735/ 3634 |
Business Style 1 |
Trader |
|
Fax # |
91-22-66959185 / 28724234 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Cardiovascular Drugs |
|
|
# of employees |
60
(Approximately) |
Product Name 2 |
Anti-neoplastic |
|
Paid up capital |
Rs.
2,500,000/- |
Product Name 3 |
Anti-muscarinic agent |
|
Shareholders |
Others ( 100%) |
Banking |
State Bank of |
|
Public Limited Corp. |
NO |
Business Period |
13 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
BA |
|
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 |
24,095,000 |
Current Liabilities |
9,803,000 |
|
Inventories |
6,088,000 |
Long-term Liabilities |
-- |
|
Fixed Assets |
17,023,000 |
Other Liabilities |
61,000 |
|
Deferred Assets |
-- |
Total Liabilities |
9,864,000 |
|
Invest& other Assets |
132,874,000 |
Retained Earnings |
167,716,000 |
|
|
|
Net Worth |
170,216,000 |
|
Total Assets |
180,080,000 |
Total Liab. & Equity |
180,080,000 |
|
Total Assets (Previous Year) |
288,552,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
55,483,000 |
Net Profit |
10,256,000 |
|
Sales(Previous yr) |
NA |
Net Profit(Prev.yr) |
20,940,000 |
MIRA
INFORM REPORT
|
Report Date : |
07.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAMARTH PHARMA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Ram Mandir Road, Goregaon (West), Mumbai 400 104, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
11.09.1997 |
|
|
|
|
Com. Reg. No.: |
11-110616 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U99999MH1997PTC110616 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS23813G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trader, Exporter and Importer of Pharmaceutical Products. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 681000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Kanji Vai |
|
Designation : |
Accounts Manager |
|
|
|
LOCATIONS
|
Registered Office : |
Ram Mandir Road, Goregaon (West), Mumbai 400 104, Maharashtra, |
|
Tel. No.: |
91-22-66959186 / 28731021 / 28727930 / 26763735/ 3634 |
|
Fax No.: |
91-22-66959185 / 28724234 |
|
E-Mail : |
|
|
Website: |
|
|
Area : |
1500 Sq. ft. |
|
Location : |
Rented |
|
|
|
DIRECTORS
As on : 30.09.2010
|
Name : |
Mr. Kanjibhai Parmar |
|
Designation : |
Director |
|
Address : |
10, Bhukhannan Sitaram Chawl, Janu Compound, Malad (East), Mumbai, |
|
Date of Birth/Age : |
02.05.1958 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
14.06.2004 |
|
|
|
|
Name : |
Mr. Chittozi Radhakrishnan |
|
Designation : |
Director |
|
Address : |
F-003, Geeta
Nagar, Phase-Ill, |
|
Date of Birth/Age : |
01.06.1952 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
11.09.1997 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Chittozi Radhakrishnan |
|
300 |
|
Pranav Shah |
|
74000 |
|
Rajiv Shah |
|
74000 |
|
Sohini Shah |
|
52300 |
|
Gunvantlal Shah |
|
49400 |
|
|
|
|
|
Total |
|
250000 |
As on : 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Others
|
|
100.00 |
|
|
|
|
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Pharmaceutical Products. |
|
|
|
|
Products : |
|
|
|
|
GENERAL INFORMATION
|
Customers : |
Pharma Companies |
|
|
|
|
No. of Employees : |
60 (Approximately) |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Satish Soni and Company Chartered Accountants |
|
Address : |
15/ 1, 2nd Floor , Metro House, Colaba, Mumbai-400 001, |
|
Tel. No.: |
91-22-32903287 |
|
Mobile No.: |
91-9322693989 |
|
Fax No.: |
91-22-22876467 |
|
E-Mail : |
|
|
|
|
CAPITAL STRUCTURE
As on : 31.03.2010
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 |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 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 |
2.500 |
2.500 |
2.500 |
|
|
2] Share Application Money |
0.000 |
0.700 |
0.700 |
|
|
3] Reserves & Surplus |
167.716 |
158.485 |
137.544 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
170.216 |
161.685 |
140.744 |
|
|
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 |
0.061 |
1.586 |
1.480 |
|
|
|
|
|
|
|
|
TOTAL |
170.277 |
163.271 |
142.224 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
17.023 |
10.310 |
8.261 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
132.874 |
27.680 |
104.400 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.088
|
5.910
|
14.748 |
|
|
Sundry Debtors |
6.092
|
2.438
|
4.728 |
|
|
Cash & Bank Balances |
9.773
|
115.824
|
10.369 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
8.230
|
5.505
|
34.446 |
|
Total
Current Assets |
30.183
|
129.677
|
64.291 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
4.830
|
1.972
|
2.174 |
|
|
Provisions |
4.973
|
2.424
|
32.554 |
|
Total
Current Liabilities |
9.803
|
4.396
|
34.728 |
|
|
Net Current Assets |
20.380
|
125.281
|
29.563 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
170.277 |
163.271 |
142.224 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
|
Income |
55.483 |
NA |
NA |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
55.483 |
NA |
NA
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
45.226 |
NA |
NA |
|
|
|
Interest |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
TOTAL (B) |
45.226 |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.256 |
21.994 |
4.403 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.000 |
1.054 |
1.578 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
10.256 |
20.940 |
2.825 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
0.660 |
NA |
|
|
TOTAL EARNINGS |
NA |
0.660 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
Nil
|
83.76 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
18.48
|
-- |
-- |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.48
|
-- |
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.72
|
15.71
|
6.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.14
|
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.05
|
0.03
|
0.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.07
|
29.50
|
1.85 |
LOCAL AGENCY FURTHER INFORMATION
Form 8
Bankers Charges Report
as per Registry
|
Name of the company |
SAMARTH PHARMA PRIVATE LIMITED |
|
Presented By |
Jointly company
and charge holder |
|
1) Date and description of instrument creating the change |
General agreement
for grant of small industrial advances and hypothecation of movables, book
debts and other assets dated 21.03.2000 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.2.700 millions
|
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All present and
future goods, book debts, movables and other assets including documents of
title to goods and other assets, such as outstanding moneys, receivables,
claims, bills, invoices, documents, contracts, engagement, securities,
investments and right and the present machinery and all future machinery
belonging to or in the possession or under the control of the company
wherever lying stored and kept and whether in possession of the company or of
the Bank or of any third party whether in India or elsewhere through out the
world including all such goods movables and other assets as may be in course
of shipment, transit or delivery. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
1. Interest
payable as may be decided by the Bank from time to time. 2. Margin to be
maintained at such rated as stipulated by the Bank from time to time. 3. Security created by way of first charge and to cover
the principal amount together with interest, charges, costs, expenses etc. |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not
Applicable |
Fixed Assets :
- Plant and
Machinery
- Furniture And
Fixture
- Office
Equipments
- Car
- Computer And
Printer
- Khopoli
Factory
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. 44.99 |
|
|
1 |
Rs. 73.23 |
|
Euro |
1 |
Rs. 62.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
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 |
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 |
|
45 |
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.