1. Summary Information
|
|
|
Country |
|
|
Company Name |
UNIMARK REMEDIES
LIMITED |
Principal Name 1 |
Mr. Sandip Jayant Parekh |
|
Status |
Good |
Principal Name 2 |
Mr. Mehul Jayant Parekh |
|
|
|
Registration # |
11-75373 |
|
Street Address |
19, Crystal, 1st
Floor, |
||
|
Established Date |
01.12.1993 |
SIC Code |
-- |
|
Telephone# |
91-22-26464769 / 26040361 / 67304153 /
67304000 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-26463772 / 26007917 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Active Pharmaceutical
Ingredients Formulations |
|
|
# of employees |
500
(Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 129,934,000/- |
Product Name 3 |
-- |
|
Shareholders |
Venture Capital - 3.62 % ; Bodies corporate - 1.73 % ; Directors or relatives of directors - 68.42 % ; Other top fifty shareholders - 26.13 % ; Other - 0.10 % |
Banking |
DBS Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
17 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
A
(62) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates |
|
KDL Biotech Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,587,222,000 |
Current Liabilities |
1428,346,000 |
|
Inventories |
1,362,849,000 |
Long-term Liabilities |
3652,510,000 |
|
Fixed Assets |
3,758,717,000 |
Other Liabilities |
426,441,000 |
|
Deferred Assets |
0000 |
Total Liabilities |
5,507,297,000 |
|
Invest& other Assets |
915,543,000 |
Retained Earnings |
3652,510,000 |
|
|
|
Net Worth |
3117,034,000 |
|
Total Assets |
8,624,331,000 |
Total Liab. & Equity |
8,624,331,000 |
|
Total Assets (Previous Year) |
7,468,543,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
6278,873,000 |
Net Profit |
281,706,000 |
|
Sales(Previous yr) |
5764,564,000 |
Net Profit(Prev.yr) |
285,815,000 |
MIRA
INFORM REPORT
|
Report Date : |
15.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
UNIMARK REMEDIES LIMITED (w.e.f. 03.05.1995) |
|
|
|
|
Formerly Known as: |
UNIMARK REMEDIES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
19, Crystal, 1st Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
01.12.1993 |
|
|
|
|
Com. Reg. No.: |
11-75373 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U23200MH1993PLC075373 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMU03720G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACU0589R |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturer of
Active Pharmaceutical Ingredients Formulations. |
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 12000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established and reputed company having fine track. Financial position of the company appears
to be sound. Directors are reported to be experienced and respectable
businessmen. Trade relations are reported as fair. Payments are reported to
be regular and as per commitments. The company can
be considered good for normal 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. Omprakash Singh |
|
Designation : |
Secretary and Financial Controller |
|
Contact No.: |
91-22-67304000 |
LOCATIONS
|
Registered Office : |
19, Crystal, 1st Floor, |
|
Tel. No.: |
91-22-26464769 /
26040361 / 67304153 / 67304000 |
|
Fax No.: |
91-22-26463772 /
26007917 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
41, G.I.D.C. Industrial
Estate, 1st Phase, Vapi – 396 195, |
|
Tel. No.: |
91-260-2420639/ 40 |
|
Fax No.: |
91-260-2420161/ 2424390 |
|
|
|
|
Factory 2 : |
337, |
|
Tel. No.: |
91-2714-304100 |
|
Fax No.: |
91-2714-268381/ 268229 |
|
|
|
|
Factory 3 : |
Bldg. No. AP/2-3, Gala No. 1 to 4, Rajlaxmi commercial Complex, |
|
|
|
|
Godown : |
Near Marwell Engineering
Works, Koparkhairne, Vashi, Navi Mumbai – 400 705, |
|
Tel. No.: |
91-22-27687728 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Sandip Jayant Parekh |
|
Designation : |
Whole-time Director |
|
Address : |
|
|
Date of Birth/Age : |
24.01.1968 |
|
Qualification : |
M. Sc.( Org. Chem. ) from IIT, Mumbai |
|
Date of Appointment : |
01.12.1993 |
|
|
|
|
Name : |
Mr. Mehul Jayant Parekh |
|
Designation : |
Managing Director |
|
Address : |
|
|
Date of Birth/Age : |
26.11.1958 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
06.03.1995 |
|
|
|
|
Name : |
Mr. Yogesh N. Parekh |
|
Designation : |
Finance Director (Professional) |
|
Address : |
C-36, Gujarat Society, 2nd
Floor, Vile Parle (East), Mumbai – 400 057, |
|
Date of Birth/Age : |
03.02.1959 |
|
Qualification : |
B. Com, F.C.A |
|
Date of Appointment : |
17.07.1995 |
|
|
|
|
Name : |
Mr. Palsingh Harminder Chawla |
|
Designation : |
Director |
|
Address : |
1022, Sector 44B, |
|
Date of Birth/Age : |
14.04.1940 |
|
Date of Appointment : |
04.03.2005 |
|
|
|
|
Name : |
Mr. John Wiliam Scott |
|
Designation : |
Director |
|
Address : |
81, |
|
Date of Birth/Age : |
18.12.1941 |
|
Date of Appointment : |
25.05.2007 |
|
|
|
|
Name : |
Mr. Vinayak Shenvi |
|
Designation : |
Alternate Director |
|
Address : |
Ganesh Krupa, Near |
|
Date of Birth/Age : |
02.06.1970 |
|
Date of Appointment : |
31.07.2007 |
|
|
|
|
Name : |
Mr. Ramesh N. Patel |
|
Designation : |
Director |
|
Address : |
Ganesh Krupa, Near |
|
Date of Birth/Age : |
02.06.1970 |
|
Date of Appointment : |
29.07.2009 |
|
|
|
|
Name : |
Mr. Chaitanya C. Desai |
|
Designation : |
Whole time Director |
|
Address : |
527, Cabothill Road, Bridgewater, NJ-08807-1562, |
|
Date of Birth/Age : |
28.03.1960 |
|
Date of Appointment : |
04.09.2009 |
|
|
|
|
Name : |
Mr. Omdutt Tyagi |
|
Designation : |
Whole time director |
|
Address : |
B – 804, Oberoi Woods, Off |
|
Date of Birth/Age : |
01.11.1942 |
|
Date of Appointment : |
16.04.2010 |
KEY EXECUTIVES
|
Name : |
Mr. Omprakash Singh |
|
Designation : |
Secretary / financial Controller |
|
Address : |
C-603, |
|
Date of Birth/Age : |
09.08.1956 |
|
Date of Appointment : |
01.03.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mehul J Parekh Joint
with Beena M Parekh |
|
4779550 |
|
Sandip Parekh
Joint with Nandini S Parekh |
|
817200 |
|
Beena M Parekh
Joint with Mehul J Parekh |
|
634500 |
|
Madhukanta Parekh
and Dr. Hitesh Parekh |
|
226612 |
|
Madhukanta Parekh
and Dr. Priti Parikh |
|
196600 |
|
J M Parekh and
Dr. Ashok Palvia |
|
124700 |
|
J M Parekh (HUF)
and Paresh Kakadia |
|
124700 |
|
Yogesh Parikh and
Ketan Sukhadia |
|
174700 |
|
Raj Parikh and
Anuj Sukhadia |
|
174700 |
|
Madhvi Parikh and
Jigna Sukhadia |
|
149700 |
|
Pankti Parikh and
Chhaya Sukhadia |
|
149700 |
|
J M Parekh (HUF)
and Jayesh Gandhi |
|
99700 |
|
CVCIGP II Client
Rosehill Limited, |
|
2177034 |
|
CVCIGP II
Employee Rosehill Limited, |
|
1219283 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
|
Percentage |
|
Venture Capital |
|
3.62 |
|
Bodies corporate |
|
1.73 |
|
Directors or relatives of directors |
|
68.42 |
|
Other top fifty shareholders |
|
26.13 |
|
Other |
|
0.10 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Active Pharmaceutical Ingredients Formulations. |
||||||||
|
|
|
||||||||
|
Products: |
|
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Products : |
Drug Intermediates Pharmaceutical Raw Material |
||||||||
|
Countries : |
|
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Products : |
Raw Material |
||||||||
|
Countries : |
|
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
L/C, Cash and Credit (30 to 60 to 90 days) |
||||||||
|
|
|
||||||||
|
Purchasing : |
L/C, Cash and Credit (30 to 60 to 90 days) |
PRODUCTION STATUS (As on 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
API |
Tones |
57.356 |
182.504 |
GENERAL INFORMATION
|
Customers : |
·
End Users ·
OEM’s |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
500 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Company Chartered
Accountant |
|
Address : |
Engineering
Centre, 6th Floor, 9, |
|
Tel. No.: |
91-22-23671623 |
|
Fax No.: |
91-22-23671624 |
|
E-Mail : |
|
|
|
|
|
Associates : |
KDL Biotech Limited |
|
|
|
|
Subsidiaries : |
·
Unimark Remedies Hong Kong Limited ·
Oncology Kombine Private Limited ·
Zen Life Sciences Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Share |
Rs.10/- Each |
Rs. 150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12993421 |
Equity Share |
Rs.10/- Each |
Rs. 129.934
Millions |
Notes:
Of the above 4580000 equity shares of Rs.10/-
each allotted as fully paid bonus shares by capitalization of reserves.
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 |
129.934 |
129.934 |
129.934 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2987.100 |
2705.394 |
2441.377 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3117.034 |
2835.328 |
2571.311 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3299.292 |
3042.311 |
1620.121 |
|
|
2] Unsecured Loans |
353.218 |
123.218 |
100.000 |
|
|
TOTAL BORROWING |
3652.510 |
3165.529 |
1720.121 |
|
|
DEFERRED TAX LIABILITIES |
426.441 |
367.553 |
338.328 |
|
|
|
|
|
|
|
|
TOTAL |
7195.985 |
6368.410 |
4629.760 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3758.717 |
2823.208 |
1597.840 |
|
|
Capital work-in-progress |
786.700 |
829.935 |
695.852 |
|
|
|
|
|
|
|
|
INVESTMENT |
128.843 |
128.742 |
0.386 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1362.849
|
981.820
|
883.279 |
|
|
Sundry Debtors |
1659.204
|
1357.126
|
1305.086 |
|
|
Cash & Bank Balances |
318.847
|
883.386
|
989.472 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
609.171
|
464.326
|
269.728 |
|
Total
Current Assets |
3950.071
|
3686.658
|
3447.565 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1266.853
|
952.790 |
1021.624 |
|
|
Other Current Liabilities |
142.289
|
1084.631
|
78.691 |
|
|
Provisions |
19.204
|
15.502
|
11.568 |
|
Total
Current Liabilities |
1428.346
|
1100.133
|
1111.883 |
|
|
Net Current Assets |
2521.725
|
2586.525
|
2335.682 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7195.985 |
6368.410 |
4629.760 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6278.873 |
5764.564 |
5071.414 |
|
|
|
Other Income |
0.053 |
0.054 |
0.048 |
|
|
|
TOTAL (A) |
6278.926 |
5764.618 |
5071.462 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials Consumed |
4038.376 |
3872.047 |
3550.034 |
|
|
|
N=manufacturing and Other Expenses |
629.613 |
566.422 |
373.855 |
|
|
|
Personnel Cost |
382.475 |
291.432 |
205.329 |
|
|
|
Selling and General administration expenses |
342.667 |
267.959 |
229.008 |
|
|
|
Research and Development Expenses |
43.348 |
39.653 |
71.700 |
|
|
|
TOTAL (B) |
5436.479 |
5037.513 |
4429.926 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) I |
842.447 |
727.105 |
641.536 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
261.939 |
240.158 |
154.594 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
580.508 |
486.947 |
486.942 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
239.791 |
130.239 |
91.356 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
340.717 |
356.708 |
395.586 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
59.011 |
70.893 |
106.175 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
281.706 |
285.815 |
289.411 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
362.036 |
326.222 |
286.811 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
250.000 |
250.000 |
250.000 |
|
|
BALANCE CARRIED
TO THE B/S |
393.742 |
362.036 |
326.222 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
2682.723 |
2295.597 |
24.05 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1806.381 |
1870.410 |
NA |
|
|
|
Finished Goods |
245.255 |
0.000 |
NA |
|
|
|
Stores & Spares |
0.133 |
1.273 |
NA |
|
|
|
Capital Goods |
51.951 |
51.893 |
NA |
|
|
TOTAL IMPORTS |
2103.720 |
1923.576 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.68 |
22.00 |
10.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.49
|
4.91 |
5.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.43
|
6.18 |
7.800 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.33
|
5.47 |
7.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.12 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.63
|
2.62 |
1.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.77
|
3.35 |
3.10 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
For Raw Material
and Expenses |
1162.208 |
909.613 |
909.613 |
|
For Capital
Expenditure |
104.645 |
43.177 |
43.177 |
Nature of operations
Subject is a
public limited company was incorporated on 1 December 1993. The Company is
primarily engaged in the manufacturing of Active Pharmaceutical Ingredients
("APIs") and Advanced Intermediates. The Company has developed skills
in the areas of process research and development, process chemistry, handling
complex chemical reactions and expertise in marketing of APIs and speciality
intermediates both globally and within
The Company has
also started a new venture involving manufacture and marketing of formulations
in the Indian market and has recently started to export such formulations in
other unregulated markets.
The Company's
registered office is at 19, Crystal,
Bankers Charges
Report as per Registry
|
Name of the company |
UNIMARK REMEDIES LIMITED |
|
Presented
By |
Mr. Yogesh N Parikh |
|
1) Date and description of instrument creating the change |
Unattested Deed
of Hypothecation dated 21st March 2003 executed by Unimark
Remedies Limited (therein and hereinafter referred to as "the
Borrower") in favour of Export-Import Bank of India ("Exim Bank'),
a certified true copy whereof is Attached hereto. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Foreign Currency Term Loan of USD 2.75 million (United States Dollar
two Million Seven Hundred and Fifty Thousand only) (including any converted
rupees amounts consequent upon default in the case of foreign currency loan)
together with interest by way of liquidated damages, charges, expenses and
all other monies payable by the borrower to Exim Bank under the dollar loan
agreement dated the 21.03.2003 made between the borrower and Exim Bank. |
|
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 |
The whole of the
Borrower's movable fixed assets, both present and future, briefly described
in Schedule III to the Deed of Hypothecation, including its moveable plant
and machinery, equipment, appliances, furniture, vehicles, machinery spares
and stores, tools and Accessories, whether or not Installed. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
(a) The charge
created by the aforesaid Deed of Hypothecation shall operate as a continuing
security by way of a first charge for the due repayment by the Borrower to
Exim Bank of the Foreign Currency Term Loan of USD 2.75 million (including
any converted Rupee amount(s)
consequent upon default In the case of
foreign currency loan) together with payment of interest, compound interest,
additional interest by way of liquidated damages (in case of default), costs
(legal costs on a full indemnity basis), charges, expenses and all other
monies payable by the Borrower to Exim Bank in terms of the said Dollar Loan
Agreement. (b) The said
charge shall rank in the order of priority set out in Schedule IV to the Deed
of Hypothecation. |
|
5) Name and Address and description of the person entitled to the charge. |
Export-Import Bank of |
|
6) Date and brief description of instrument modifying the charge |
No instrument
was executed. A mortgage was created by the Borrower on 16/06/2004 in
favour of Exim Bank by delivery and deposit of title deeds in respect of the
Borrower's immovable properties mentioned in Part B in of Annexure hereto, with Exim
Bank with an intent to create security in favour of Exim Bank on the said
lands and immovable properties together with all the Buildings and structures
thereon, fixed plant and machinery, fixtures and fittings, permanently
fastened to the earth or fastened to anything attached to the earth. |
|
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. |
The due
repayment of the aforesaid Dollar Loan together with payment of Interest,
compound interest, additional interest by way of liquidated Damages (in case
of default), service fee, costs. charges, expenses and all other monies
payable by the Borrower to Exim Bank under the aforesaid Loan Agreement,
which are secured by the said charge created under the aforesaid Deed of
Hypothecation mentioned in column I hereof and further secured by mortgage by
way of deposit of title deeds by way of constructive delivery over the
Borrowers immovable properties as mentioned at Part A of Annexure hereto is
now further secured by the charge created by aforesaid mortgage by deposit of
title deeds over the Borrowers immovable properties as mentioned in Part B of
the Annexure hereto, created by the Borrower on 16/06/2004 in favour of Exim Bank. |
|
Corporate
identity number of the company |
U23200MH1993PLC075373 |
|
Name of the
company |
UNIMARK REMEDIES
LIMITED |
|
Address of the
registered office or of the principal place of business in |
19, Crystal, 1st Floor, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90166825 |
|
Type of charge |
Book Debts Movable Property |
|
Particular of charge
holder |
State Bank of |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement of Hypothecation of Goods and Assets dated 7th January, 2011 for
increase in the overall limit from Rs.350.000 millions to Rs.467.000 millions
has been executed. |
|
Date of
instrument Creating the charge |
07.01.2011 |
|
Amount secured by
the charge |
Rs.467.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Demand Cash
Credit limit - 6.75% above base rate i.e. 14.25% p.a. with monthly rest EPC / PCFC limit -
As per SBI Guidelines EBD/EBP/PSC
Credit Limit - As per SBI Gold card scheme for Exporters Terms of
Repayment Repayment on
demand on the Bank of all monies including the principal sums, interest,
cost, charges, expenses and other monies payable by the company from time to
time and for the time being to the bank in r/o or in any wise concerning the
credit facilities agreed to be granted and/or continued by the bank to the
company upto the increased limit of Rs.467.000 millions, on the terms and
conditions contained in the Suppl. Agreement of Hypothecation of Goods and
Assets for increase in the overall limit. Margin Raw material -
Domestic - 25% - Imported - 25% Stocks in Process
- 25% Finished Goods -
25% Book Debts - 25% EPC / PCFC - 10% LC - 5% BG - 5% Extent and
Operation of the charge The Company
agrees to the goods and assets hypothecated, charged in favour of the bank
under supplemental Agreement, as a continuing security by way of first charge
of company's stocks on pari passu basis and second charge on plant and
machinery and other fixed assets ranking pari passu with other banks for
working capital facilities for due repayment on demand on Bank of all monies
payable by the company from time to time and on terms and conditions in the
Supplemental Agreement. |
|
Short particulars
of the property charged |
First charge by
way of hypothecation on Company's entire Stocks in process, finished goods,
book debts, goods in transit and entire current assets on pari passu basis, present
and future Second charge on
company's entire plant and machinery and other fixed assets ranking pari
passu with other banks under multiple banking arrangement |
|
Date of latest
modification prior to the present modification |
29.09.2009 |
|
Particulars of
the present modification |
The Charge was
created in favour of State Bank of |
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. 45.21 |
|
|
1 |
Rs. 72.54 |
|
Euro |
1 |
Rs. 62.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
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.