MIRA
INFORM REPORT
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Report Date : |
19.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
MEDISYS BIOTECH PRIVATE LIMITED |
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Registered
Office : |
Village Moginand, |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
07.12.2005 |
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Com. Reg. No.: |
030915 |
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CIN No.: [Company Identification
No.] |
U24231HP2005 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
PTLM13361F |
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PAN No.: [Permanent Account No.] |
AAECM8154L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Pharmaceutical Medicines |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 132136 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. Trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered 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) |
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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 |
LOCATIONS
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Registered Office/Factory : |
Village Moginand, |
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E-Mail : |
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Website: |
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Head Office: |
# 2nd Floor, Sco-142, Sector-5, Mansadevi Complex, |
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Tel. No.: |
91-172-2555280 |
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Fax No.: |
91-172-4658142 |
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E-Mail : |
DIRECTORS
AS ON 04.06.2007
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Name : |
Suresh Kumar Dua |
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Designation : |
Director |
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Address : |
R/o. 152, |
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Date of Appointment : |
07.12.2005 |
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Name : |
Mr. Kalevar Rajeshwar |
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Designation : |
Director |
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Address : |
R/o. 153, Sri poulomi Apartments, Street No.8, Vivek Nagar, |
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Date of Appointment : |
25.01.2007 |
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Name : |
Mr. Joel Kurian |
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Designation : |
Director |
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Address : |
R/o. DD 36, Ground Floor, Kalkaji, |
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Date of Appointment : |
25.01.2007 |
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Name : |
Dr. Pramod Kumar |
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Designation : |
Director |
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Address : |
R/o 6305, |
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Date of Appointment : |
07.12.2005 |
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Name : |
Dr. Rahul Sharma |
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Designation : |
Director |
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Address : |
R/o. 11503, |
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Date of Appointment : |
07.12.2005 |
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Name : |
Mr. Ashok Kumar |
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Designation : |
Director |
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Address : |
R/o. B – 2464, Indira Nagar, |
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Date of Appointment : |
07.12.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 04.06.2007
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Names of Shareholders |
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No. of Shares |
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Suresh Dua |
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95000 |
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Rajesh Sharma |
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5000 |
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Total |
|
100000 |
LIST OF ALLOTTEES AS ON 12.08.2010
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Names of Allottees |
|
No. of Shares |
|
Mohan Reddy Ettyreddy |
|
4580726 |
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Total |
|
4580726 |
AS ON 04.06.2007
|
Category |
Percentage |
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Directors or relatives of Directors |
95.00 |
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Other top fifty shareholders |
5.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pharmaceutical Medicines |
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Products : |
PRODUCTION STATUS AS ON 31.03.2010
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Particulars |
Unit |
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Actual
Production |
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Tablets |
Nos. In Lacs |
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249.97 |
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Capsules |
Nos. In Lacs |
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|
58.27 |
GENERAL INFORMATION
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Bankers : |
Allahabad Bank, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dhanunjaya and Prabhakar Chartered Accountant |
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Address : |
407-408, Upsana Ahuja Estate, |
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Tel No.: |
91-40-24765554 |
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Fax No.: |
91-40-40205554 |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000000 |
Equity Shares |
Rs.1/- each |
Rs.40.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30695500 |
Equity Shares |
Rs.1/- each |
Rs.30.695
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
30.695 |
30.695 |
0.100 |
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2] Share Application Money |
1.801 |
0.176 |
23.547 |
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3] Reserves & Surplus |
0.538 |
0.205 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
33.034 |
31.076 |
23.647 |
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LOAN FUNDS |
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1] Secured Loans |
23.953 |
24.431 |
3.367 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
23.953 |
24.431 |
3.367 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
56.987 |
55.507 |
27.014 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
48.644 |
48.485 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
27.404 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
8.934
|
7.941 |
0.000 |
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Sundry Debtors |
6.275
|
2.437 |
0.000 |
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Cash & Bank Balances |
0.661
|
0.103 |
0.991 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
0.834
|
1.142 |
0.345 |
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Total
Current Assets |
16.704
|
11.623 |
1.336 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
7.328
|
4.498 |
3.441 |
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Other Current Liabilities |
1.264
|
0.301 |
0.000 |
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Provisions |
1.316
|
0.064 |
0.010 |
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Total
Current Liabilities |
9.908
|
4.863 |
3.451 |
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Net Current Assets |
6.796
|
6.760 |
(2.115) |
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MISCELLANEOUS EXPENSES |
0.197 |
0.262 |
0.328 |
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PRODUCT DEVELOPMENT EXPENDITURE |
1.352 |
0.000 |
1.397 |
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TOTAL |
56.987 |
55.507 |
27.014 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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TOTAL |
32.169 |
9.265 |
NA |
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NET PROFIT FOR
THE YEAR |
0.421 |
0.269 |
NA |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.03
|
0.94 |
0.29 |
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Current Ratio (Current Asset/Current Liability) |
|
1.68
|
2.39 |
0.39 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office address of the company has been shifted from 38/7
Girish Bazar, Shiwal Kanpur,
Form 8:
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This form is for |
Modification of
charge |
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|
10042785 |
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Corporate
identity number of the company |
U24231HP2005PTC030915 |
|
Name of the
company |
MEDISYS BIOTECH
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Village Moginand,
|
|
Type of charge |
Book Debts Immovable
Property Movable Property Floating Charge Others |
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Particular of
charge holder |
ALLAHABAD BANK |
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Nature of
description of the instrument creating or modifying the charge |
CONSENT LETTER. |
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Date of
instrument Creating the charge |
13/02/2009 |
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Amount secured by
the charge |
Rs.25.700
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of Interest
Is 1% Per Annum Below Alahabad Banks Prime Lending Rate, Which Is Presently 13.25%
Per Annum With Monthly Rests. Terms of
Repayment As Per Original
Agreement. Margin Margin is 25%. Extent and
Operation of the charge Extent and
Operation of The Charge is 100%. Others |
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Short particulars
of the property charged |
All Tangible
Movable Machineries, Furnitures, Raw Material, Work In Progress, Finished
Goods, Book Debts. |
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Particulars of
the present modification |
Allahabad Bank
Has Receding First Pari Passu Charge For an Amount of Rs.3.000 Millions On
Entire Plant and Machinery In Favour of Gm, Dic Nahan For The Period of 5
Years. |
Fixed Assets:
- Land
- Building
- Electrical
Installation
- Plant and
Machinery
- Computers
- Furniture and
Fixtures
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.45.09 |
|
|
1 |
Rs.72.82 |
|
Euro |
1 |
Rs.63.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
36 |
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.