MIRA
INFORM REPORT
|
Report Date : |
17.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
VIRCHOW LABORATORIES LIMITED |
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Registered Office : |
Plot No. 4, S.V. Co-Operative Industrial Estate, Jeedimetla, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
20.01.1982 |
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Com. Reg. No.: |
01-003368 |
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CIN No.: [Company
Identification No.] |
U24232AP1982PLC003368 |
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Legal Form : |
A Closely held Public Limited Liability Company. |
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Line of Business : |
Manufacturers and Exporter of Pharmaceutical, Bulk Drugs, Medicines
and Raw Materials. |
RATING & COMMENTS
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MIRA’s Rating : |
A (63) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 7083000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track.
Directors are reported as experienced respectable and resourceful
industrialist. Their trade relations are fair. Financial position is good. The
company’s payments are correct and as per commitment. The company can be considered good for normal business dealings and
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 |
INFORMATION DECLINED BY
|
Name : |
Mr. Prabhakar |
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Designation : |
Finance Department |
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Date : |
16.03.2011 |
LOCATIONS
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Registered Office/ Factory 1 : |
Plot No. 4, S.V. Co-Operative Industrial Estate, Jeedimetla, |
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Tel. No.: |
91-40-23096688/23098206 |
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Fax No.: |
91-40-23096677/23098205 |
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E-Mail : |
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Website : |
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Factory 2 : |
Survey No. 451/1, Wadachepurupalli (W), Village, Parvada Mandal,
Vishakhatnam District. |
DIRECTORS
As on 17.09.2010
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Name : |
Mr. Mundla Narayana Reddy |
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Designation : |
Managing Director (Technical) |
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Address : |
Plot No. 15A, Road No. 2, Jubilee Hills, Hyderabad-500033, |
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Date of Birth/Age : |
01.06.1951 |
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Qualification : |
M.Sc. |
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Experience : |
31 Years |
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Date of Appointment : |
20.01.1982 |
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DIN No.: |
00064392 |
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Name : |
Dr. Nandigala Venkata Reddy |
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Designation : |
Managing Director (Commercial) |
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Address : |
Plot No. 550, Road No. 19, Jubilee Hills, Hyderabad-500033, |
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Date of Birth/Age : |
01.07.1943 |
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Qualification : |
M.B.B.S. |
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Experience : |
36 Years |
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Date of Appointment : |
30.09.1996 |
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DIN No.: |
01740424 |
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Name : |
Mr. Mundla Sudha |
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Designation : |
Director |
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Address : |
Plot No. 15A, Road No. 2, Jubilee Hills, Hyderabad-500033, |
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Date of Birth/Age : |
19.04.1982 |
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Date of Appointment : |
14.03.2002 |
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DIN No.: |
00054013 |
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Name : |
Mr. Lingareddy Venkata Subash |
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Designation : |
Director |
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Address : |
Plot No. 435/A, Road No. 20, Jubilee Hills, Hyderabad-500033, |
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Date of Birth/Age : |
09.12.1971 |
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Date of Appointment : |
14.03.2002 |
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DIN No.: |
00125240 |
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Other Directorship: |
CIN of company: U74210AP1974PTC001733 Name of the company: Imex Engineering Company Private Limited Designation: Director CIN of company: U24230AP2002PTC039606 Name of the company: Covalent Laboratories Private Limited Designation: Director CIN of company: L24116AP1991PLC012314 Name of the company: Andhra Organics Limited Designation: Director CIN of company: U24239AP2004PLC042949 Name of the company: Virchow Drugs Limited Designation: Director |
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Name : |
Dr. Linga Reddy Venkata Subba Reddy |
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Designation : |
Director |
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Address : |
Plot No. 435/A, Road No. 20, Jubilee Hills, Hyderabad-500033, |
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Date of Birth/Age : |
01.07.1941 |
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Date of Appointment : |
30.09.1996 |
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DIN No.: |
00135847 |
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Name : |
Mrs. Mundla Lakshmi Prasanna |
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Designation : |
Director |
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Address : |
Plot No. 15A, Road No. 2, Jubilee Hills, Hyderabad-500033, |
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Date of Birth/Age : |
10.04.1956 |
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Date of Appointment : |
14.03.2002 |
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DIN No.: |
00736279 |
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Name : |
Mr. Nandigala Pratyush Alias Hemanth |
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Designation : |
Director |
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Address : |
Plot No. 550, Road No. 19, Jubilee Hills, Hyderabad-500033, |
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Date of Birth/Age : |
02.01.1974 |
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Date of Appointment : |
29.01.1999 |
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DIN No.: |
01561731 |
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Name : |
Mr. Nandigala Prasanth |
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Designation : |
Whole Time Director |
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Address : |
Plot No. 550, Road No. 19, Jubilee Hills, Hyderabad-500033, |
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Date of Birth/Age : |
14.04.1972 |
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Date of Appointment : |
01.04.2005 |
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DIN No.: |
01740471 |
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Name : |
Ms. Gargi Pammi |
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Designation : |
Director |
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Address : |
Plot No. 435/A, Road No. 20, Jubilee Hills, Hyderabad-500033, |
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Date of Birth/Age : |
01.07.1947 |
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Date of Appointment : |
20.02.1985 |
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DIN No.: |
01744011 |
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Other Directorship : |
CIN of company: U74210AP1974PTC001733 Name of the company: Imex Engineering Company Private Limited Designation: Director CIN of company: U24230AP2002PTC039606 Name of the company: Covalent Laboratories Private Limited Designation: Director CIN of company: L24116AP1991PLC012314 Name of the company: Andhra Organics Limited Designation: Director CIN of company: U24239AP2004PLC042949 Name of the company: Virchow Drugs
Limited Designation: Director |
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Name : |
Mr. Devireddy Ravinder Reddy |
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Designation : |
Director |
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Address : |
Plot No. 143, Siddhartha Nagar, Behind Vengalrao Nagar,
Hyderabad-500038, |
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Date of Birth/Age : |
14.08.1934 |
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Date of Appointment : |
30.09.1996 |
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DIN No.: |
02440531 |
KEY EXECUTIVES
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Name : |
Mr. Prabhakar |
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Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2010
|
Names of Shareholders |
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No. of Shares |
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N. Venkata Reddy |
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6686 |
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T. Teena |
|
6000 |
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M. Narayana Reddy |
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8620 |
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M. Lakshmi Prasanna |
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2509 |
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D. Ravindra Reddy |
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8394 |
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L. Nagamma |
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1027 |
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N. Anasuyamma |
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1178 |
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L.V. Subba Reddy |
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8080 |
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P. Gargi |
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2968 |
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N. Sudarshana |
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2350 |
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N. Vijaya Bhaskar Reddy |
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2350 |
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G. Chandramouleswara Reddy |
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1881 |
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Nandigala Hemanth |
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8300 |
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Nandigala Prasanth |
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8301 |
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M. Maha Vishnu |
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10950 |
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M. Sudha |
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10247 |
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L.V. Sunil |
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8860 |
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L.V. Subash |
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8224 |
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G. Vedavati |
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1950 |
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C. Sudhakar Reddy |
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100 |
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N. Malla Reddy |
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100 |
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L. Sunitha |
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5635 |
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N.L. Marasimha Reddy |
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2350 |
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C. Saraswathi |
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487 |
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Total
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117547 |
As on 17.09.2010
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Equity share
breakup |
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporter of Pharmaceutical, Bulk Drugs,
Medicines and Raw Materials. |
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Products : |
Ř
Manufacturer of bulk drugs Ř
Biotech Ř
Papain Urea Ř
Ionic Silver Gel Ř
Hyaluronic Acid Cream Ř
Sodium Chloride Gels |
PRODUCTION STATUS (AS ON 31.03.2010)
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Particulars |
Unit |
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2009-10 |
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Licensed Capacity |
Tonnes |
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5000.000 |
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Installed Capacity |
Tonnes |
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4000.000 |
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Actual Production |
Tonnes |
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3837.002 |
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GENERAL INFORMATION
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No. of Employees : |
Information declined by the management |
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Bankers : |
Canara Bank, Prime Corporation Branch, II Floor, TSR Complex, |
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Facilities : |
Notes: All working capital limits from Canara Bank is secured by
hypothecation of stock of raw materials, work in process, stores and spares, finished
goods and book debts besides the first charge on all immovable
properties. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ramana Reddy and Associates Chartered Accountant |
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Address : |
10-5-6/B, My |
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Tel. No.: |
91-40-23316426/ 23316912 |
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Group Companies
: |
Ř
Sulfamethoxazole Ř
Sucralose Ř
Ranitidiane HCL Ř
Chphalosporins |
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Associates : |
Ř
Coramandal Infrastructures Private Limited Ř
Virchow Petrochemicals Private Limited Ř
Virchow Bio-Tech Private Limited Ř
Covalent Laboratories Private Limited Ř
Saraca Laboratories Limited Ř
Imex Engineering Company Private Limited Ř
Virchow Chemicals Private Limited |
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Subsidiaries : |
Ř
Andhra Organics Limited (CIN No.:
U24116AP1991PLC012314) Ř
Virchow Drugs Limited (CIN No.:
U24239AP2004PLC042949) Ř
Virchow Healthcare Private Limited (CIN No.:
U24230MH2007PTC176048) |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Share |
Rs.100/- each |
Rs.15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
117547 |
Equity Share |
Rs.100/- each |
Rs.11.755
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 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
11.755 |
11.755 |
11.755 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1759.100 |
1432.607 |
1179.570 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1770.855 |
1444.362 |
1191.325 |
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LOAN FUNDS |
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1] Secured Loans |
108.155 |
74.730 |
321.986 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
108.155 |
74.730 |
321.986 |
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DEFERRED TAX LIABILITIES |
11.027 |
13.952 |
8.838 |
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TOTAL |
1890.037 |
1533.044 |
1522.149 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
225.036 |
224.244 |
232.996 |
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Capital work-in-progress |
209.699 |
88.215 |
92.627 |
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INVESTMENT |
298.327 |
107.384 |
46.186 |
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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 |
117.863
|
151.128
|
151.565 |
|
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Sundry Debtors |
416.110
|
506.276
|
526.649 |
|
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Cash & Bank Balances |
12.296
|
11.269
|
8.015 |
|
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Other Current Assets |
0.000
|
0.000
|
0.000 |
|
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Loans & Advances |
872.377
|
667.392
|
603.066 |
|
Total
Current Assets |
1418.646
|
1336.065
|
1289.295 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
79.924 |
66.375 |
45.937 |
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Other Current Liabilities |
1.128
|
6.078
|
6.651 |
|
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Provisions |
180.619
|
150.411
|
86.367 |
|
Total
Current Liabilities |
261.671
|
222.864
|
138.955 |
|
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Net Current Assets |
1156.975
|
1113.201
|
1150.340 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
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TOTAL |
1890.037 |
1533.044 |
1522.149 |
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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 |
2147.965 |
2525.462 |
1834.840 |
|
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Other Income |
119.119 |
131.881 |
121.181 |
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|
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TOTAL (A) |
2267.084 |
2657.343 |
1956.021 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
1274.096 |
1792.689 |
1325.683 |
|
|
|
Power & Fuel |
111.670 |
110.330 |
112.672 |
|
|
|
Repairs & Maintenance |
65.471 |
57.904 |
61.898 |
|
|
|
Salaries, Wages & Other Allowances |
111.005 |
94.299 |
69.862 |
|
|
|
Administrative & Selling Expenses |
173.413 |
140.254 |
127.565 |
|
|
|
Increase/ Decrease in Stocks |
6.127 |
12.959 |
(12.096) |
|
|
|
TOTAL (B) |
1741.782 |
2208.435 |
1685.584 |
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
525.302 |
448.908 |
270.437 |
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
7.869 |
22.167 |
17.279 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
517.433 |
426.741 |
253.158 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
25.651 |
28.857 |
30.448 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
491.782 |
397.884 |
222.710 |
|
|
|
|
|
|
|
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|
Less |
TAX (H) |
165.289 |
144.848 |
91.794 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
326.493 |
253.036 |
130.916 |
|
|
|
|
|
|
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|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1248.474 |
995.438 |
864.522 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1574.958 |
1248.474 |
995.438 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1652.223 |
1521.142 |
1560.230 |
|
|
TOTAL EARNINGS |
1652.223 |
1521.142 |
1560.230 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
168.349 |
379.900 |
185.838 |
|
|
|
Fixed Assets and Maintenance Items |
29.448 |
1.400 |
4.047 |
|
|
TOTAL IMPORTS |
197.797 |
381.300 |
189.885 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2777.56 |
2152.64 |
1113.73 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
14.40
|
9.52
|
6.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
22.90
|
15.75
|
12.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.92
|
25.50
|
14.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.27
|
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.21
|
0.21
|
0.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.42
|
5.99
|
9.28 |
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) |
|
- Creditors for
Supplies |
18.971 |
45.132 |
30.683 |
|
- Creditors for Expenses
|
60.953 |
21.243 |
15.254 |
|
|
79.924 |
66.375 |
45.937 |
OPERATIONS:
The production of Sulphamethoxazole during the year was 3837.002 tonnes as
against 4005.054 tonnes in the previous year. The total turnover was
Rs.2180.969 millions against Rs.2622.455 millions in the previous year.
The company has achieved a turnover of Rs.2180.969 millions and profit
of Rs.491.782 millions during the year against a turnover of Rs.2622.455
millions and profit of Rs.397.884 millions in the previous year. The Directors
are in hope to achieve better results for the coming year.
The company has started construction of plant at Vizag. The directors
are expected to start its commercial operations in the forth coming year.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24232AP1982PLC003368 |
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|
Name of the
company |
VIRCHOW
LABORATORES LIMITED |
||||||||||||||||||||||||||||||||||||
|
Address of the registered
office or of the principal place of
business in |
Plot No. 4, S.V. Co-Operative Industrial Estate, Jeedimetla, E-Mail: taxation@virchows.com |
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|
This form is for |
Modification of
charge |
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|
Charge
identification number of the modified |
90129018 |
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|
Type of charge |
Book debts Hypothecation of
stocks, book debts and charge on fixed assets |
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Particular of
charge holder |
Canara Bank, Prime Corporation Branch, II Floor, TSR Complex, E-Mail: hyd2657@canbank.co.in |
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|
Nature of
description of the instrument creating or modifying the charge |
1) Supplemental
Common Hypothecation Agreement 2)
Acknowledgement of DEBT and Security 3) Counter
indemnity 4) Deed of
undertaking 5)Power of
attorney in respect of book-DEBTS facility 6) Power of
attorney |
||||||||||||||||||||||||||||||||||||
|
Date of instrument
Creating the charge |
07/05/2010 |
||||||||||||||||||||||||||||||||||||
|
Amount secured by
the charge |
Rs.672.000
millions |
||||||||||||||||||||||||||||||||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: OCC/ODBD: BPLR-1.25%
p.a. presently 10.75% p.a. (floating) at present PCFC/BRD : LIBOR+
200 bps upto 180 days at present PC : as applicable 9.50 % p.a. at
present Terms of
Repayment: As per sanction
letter Margin: FB: Stocks and Book
Debts : 25% Packing
Credit : 10% NFB FLC/BC : 5% Extent and
Operation of the charge: Prime:
Hypothecation of Stocks and Book Debts of the Company Collateral: I
Charge on Fixed Assets of the Company(Excluding Vehicles)Valued at Rs.226.600
millions Others: (Rs. in millions)
|
||||||||||||||||||||||||||||||||||||
|
Short particulars
of the property charged |
Prime: Hypothecation
of Stocks and Book Debts of the Company Collateral: I
Charge on Fixed Assets of the Company (Excluding Vehicles)Valued at
Rs.226.600 millions |
||||||||||||||||||||||||||||||||||||
|
Date of latest
modification prior to the present modification |
29/12/2008 |
||||||||||||||||||||||||||||||||||||
|
Particulars of the
present modification |
Limits Enhanced
to 672.000 millions (Rs. in millions)
|
|
Name of the company |
VIRCHOW LABORATORIES LIMITED |
|
Presented By |
Dr. N. Venkata
Reddy, Managing Director (Commercial) |
|
1) Date and description of instrument creating the change |
Dated 17.01.1983
Hypothecation agreement |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.400
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 |
1) Equitable
mortgage of land admeasuring 4823 sq. yards in Plot No.4, S.no, 299 and 307
situated at S.V. Co—operative Industrial Estate Jeedjmetla as first charge to
cever working capital limits. 2) Equitable
mortgage of land in Plot No.9 in S.No.307, Plot No. IOAC in Sy.No—307, Plot
No.3 in sy.rio.307, 4840 sq. yards
Plot No,4A in sy.no3O7 3339.6 sq.yards at Jeedimetla. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Collateral security
for the working capital limits by way of first charge. |
|
5) Name and Address and description of the person entitled to the charge. |
Canara Bank, Prime Corporation Branch, II Floor, TSR Complex, SP Road,
Hyderabad-500003, Andhra Pradesh, India. |
|
6) Date and brief description of instrument modifying the charge |
1. Supplemental
collateral security agreement dated 16.07.1999 2. Agreement for colletaral security of
machinery and vehicles. Dated 16.07.1999 3. Letter for
deposit of title deeds dated 16.07.1999 |
|
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. |
Equitable
mortgage on land, building and Plant and
Machinery situated at S.V.co-operative Industrial Estate, Jeedimetla
as first charge to cover the working capital limits sanctioned upto
Rs.142.000 millions by Canara Bank, Somaji-Guda Branch, Hyderabad, Andhra
Pradesh, India. |
CONTINGENT LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2010 (Rs. in
millions) |
|
In respect of letters of credit |
-- |
|
In respect of Bank Guarantees |
1.929 |
FIXED ASSETS:
Ř Land
Ř Building
Ř Furniture and Fixture
Ř Plant and Machinery
Ř Electrical Equipment
Ř Lab Equipment
Ř Office Equipment
Ř Vehicles
Ř Weighing Machine
Ř Computers
Ř R and D Equipment
Ř Safety Equipment
Ř Boiler
WEBSITE DETAILS:
Profile:
Subject is a comprises of six active pharmaceutical ingredient (API) and drug intermediate manufacturing units and two biotech units. Incorporated in 1981, the flagship company of the group, Virchow Laboratories Limited is today the largest producer of Sulfamethoxazole in the world. In fact, Virchow Group services more than 80% of the worldwide Sulfamethoxazole requirement. Other group companies are leading manufacturers of Ranitidine, Cephalosporins and various other APIs and bio-pharmaceuticals. Virchow also undertakes custom synthesis and manufacture of drug intermediates.
The production facilities are state of the art with efficient modern equipment and optimised production processes for large-scale production. Most of the products are manufactured in dedicated production facilities with dedicated equipment as per current Good Manufacturing Practices (cGMPs).
Subject have fully implemented Good manufacturing Practices in its system and the production facilities have been audited and certified by various Regulatory Agencies and renowned Multinational Companies like Glaxo Smithkline, Hoffmann La Roche, Merck Generics and various generic manufacturers worldwide.
The world leader in Sulfamethoxazole:
Subject is the largest producer of Sulfamethoxazole in the
world with an output of 4,800 MT per annum. The Virchow plant is located in a
spread of 20 acres in
Subject has fully implemented current Good Manufacturing
Practices (cGMPs) in its system and its production facilities have been audited
and approved by Therapeutic Goods Administration,
The first manufacturer of Sucralose in
Virchow commenced production of the artificial sweetener,
Sucralose, for the first time in
Meticulous processes for perfect end results:
Subject has fully implemented current Good Manufacturing
Practices in its system and its production facility has been approved for
compliance with Australian Code of GMP
for Therapeutic goods by Therapeutic Goods Administration,
Subject has registered a European Drug Master File that has
been assessed by Medicines Evaluation Board,
Subject has received the ISO 9001:2000 certification for its Quality Management system.
GMP Features at Virchow:
Ř Proper equipment Design, Installation and Performance Qualification
Ř Process validation at all levels
Ř Stability studies - established product stability and identified possible degradants
Ř Water system - consistently produces purified water of USP grade
Ř Air handling system - established positive air pressure system with 5 micron filters in finished product area
Ř Warehousing system - scientific warehouse management
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.45.18 |
|
|
1 |
Rs.75.58 |
|
Euro |
1 |
Rs.63.13 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
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 |
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 |
|
63 |
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.