MIRA
INFORM REPORT
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Report Date : |
07.05.2011 |
IDENTIFICATION DETAILS
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Name : |
RATNAMANI BIO-CHEMICALS AND PHARMACEUTICALS PRIVATE LIMITED |
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Registered
Office : |
12, Harshad Chambers, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
06.05.2004 |
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Com. Reg. No.: |
04-044091 |
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Capital
Investment / Paid-up Capital : |
Rs. 4.000 Million |
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CIN No.: [Company Identification
No.] |
U24231GJ2004PTC044091 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMR02921C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of Drug and Pharmaceutical Intermediates. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 102000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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) |
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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 : |
12, Harshad Chambers, |
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E-Mail : |
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Website : |
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Factory/ Marketing Office : |
Plot No. 6112 and 6113, Opposite Heubach
Color, GIDC , Ankleshwar, District Bharuch – 393 002 , |
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Tel. No.: |
91-2646-226527 (Factory) 91-2646-250517 (Marketing) |
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Tele Fax No.: |
91-2646-226527 (Factory) |
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Fax No.: |
91-2646-252767 (Marketing) |
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E-Mail : |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Rameshbhai Bhagwanbhai Patel |
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Designation : |
Director |
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Address : |
B/16, Amrapali Co-Operative Housing Society,
Ankleshwar - 393 002, |
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Date of Birth/Age : |
25/04/1964 |
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Date of Appointment : |
06/05/2004 |
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DIN No.: |
00037568 |
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Name : |
Mr. Prasannvadan Rasiklal Patel |
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Designation : |
Director |
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Address : |
A/7, Vaisnav Bunglows, |
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Date of Birth/Age : |
15/06/1961 |
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Date of Appointment : |
06/05/2004 |
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DIN No.: |
00211518 |
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Name : |
Mr. Pitambarbhai Karsanbhai Patel |
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Designation : |
Director |
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Address : |
B/16, Amrapali Co-Operative Housing Society,
Ankleshwar - 393 002, |
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Date of Birth/Age : |
01/06/1970 |
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Date of Appointment : |
06/05/2004 |
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DIN No.: |
00193116 |
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Name : |
Mr. Dahyabhai Nathabhai Patel |
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Designation : |
Director |
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Address : |
B/125, Maruti Tenaments, |
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Date of Birth/Age : |
01/06/1958 |
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Date of Appointment : |
06/05/2004 |
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DIN No.: |
00209477 |
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Name : |
Mr. Kirtikumar Bhagwandas Patel |
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Designation : |
Director |
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Address : |
B/26, Jivandhara Society, |
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Date of Birth/Age : |
01/06/1967 |
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Date of Appointment : |
06/05/2004 |
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DIN No.: |
00193150 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
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No. of Shares |
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Rameshbhai B. Patel |
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2000 |
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Prasannavadan R. Patel |
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69970 |
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Pitamber K. Patel |
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54990 |
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Dahyabhai N. Patel |
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2000 |
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Kirtibhai B. Patel |
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47780 |
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Mehul Oahyabhai Patel |
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5000 |
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Valiben Dahyabhai Patel |
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5000 |
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Rameshbhai Bhagwandas Patel HUF |
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46000 |
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Vishnubhai Bhagwandas Patel HUF |
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12000 |
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Bhagwanbhai Nathabhai Patel HUF |
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20000 |
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Dalshitaben Bhagwanbhai Patel |
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20000 |
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Alkaben P. Patel |
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25000 |
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Somabhai Karsanbhai Patel |
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10000 |
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Pravinbhai Karsanbhai Patel |
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15000 |
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Mafatbhai Kuberbhai Patel |
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10000 |
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Jivabhai Karshanbhai Patel |
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10000 |
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Sunilkumar R. Patel |
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5000 |
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Dahyabhai Nathabhai Patel HUF |
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40000 |
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Hashmukhbhai H. Pater |
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100 |
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Hansaben R. Patel |
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50 |
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Manishaben R. Patel |
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50 |
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Anjanaben Patel |
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10 |
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Bhagwandas Patel |
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10 |
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Jivabhai M Patel |
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10 |
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Kruti P. Patel |
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10 |
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Shangraben R. Patel |
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10 |
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Yaminiben K. Patel |
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10 |
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Total |
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400000 |
Equity Share Breakup (Percentage
of Holding)
As on 30.09.2010
|
Category |
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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 of Drug and Pharmaceutical Intermediates. |
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Products : |
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GENERAL INFORMATION
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Bankers : |
Axis Bank Limited, Plot No. C-3/9, Opposite Asopalav Guest House,
Opposite Railway Station, Old N.H.-8, GIDC, Ankleshwar – 380006, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Anil N. Shah and Company Chartered Accountants |
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Address : |
203-205, Sarthak Complex, B/H. Urja House, |
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Tele Fax No.: |
91-79-26446107/ 26430497/ 40076107 |
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Mobile No.: |
91-9825174950/ 9327004626 |
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E-Mail : |
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PAN.: |
AAFFA3776N |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000 millions |
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 |
4.000 |
4.000 |
4.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
21.564 |
13.967 |
1.220 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
25.564 |
17.967 |
5.220 |
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LOAN FUNDS |
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1] Secured Loans |
6.275 |
5.626 |
6.654 |
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2] Unsecured Loans |
7.539 |
5.434 |
6.584 |
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TOTAL BORROWING |
13.814 |
11.060 |
13.238 |
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DEFERRED TAX LIABILITIES |
0.766 |
0.664 |
0.595 |
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Deferred Payment Liability – Vehicle Loan |
0.902 |
1.290 |
0.855 |
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TOTAL |
41.046 |
30.981 |
19.908 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
20.467 |
18.347 |
15.148 |
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Capital work-in-progress |
5.562 |
0.000 |
0.000 |
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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 |
8.959
|
6.666
|
3.688 |
|
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Sundry Debtors |
13.885
|
5.783
|
6.993 |
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Cash & Bank Balances |
2.038
|
5.905
|
0.082 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
6.115
|
7.831
|
1.216 |
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Total
Current Assets |
30.997
|
26.185 |
11.979 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
11.206
|
6.180
|
6.793 |
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Other Current Liabilities |
0.132
|
0.163
|
0.210 |
|
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Provisions |
4.642
|
7.231
|
0.262 |
|
Total
Current Liabilities |
15.980
|
13.574 |
7.265 |
|
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Net Current Assets |
15.017
|
12.611 |
4.714 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.023 |
0.046 |
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TOTAL |
41.046 |
30.981 |
19.908 |
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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 |
70.556 |
61.391 |
18.555 |
|
|
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Jobwork Income |
0.120 |
9.250 |
1.114 |
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Other Income |
0.645 |
0.103 |
0.119 |
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|
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TOTAL |
71.321 |
70.744 |
19.788 |
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|
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|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of Raw Materials |
35.381 |
31.999 |
9.824 |
|
|
|
Director Salary |
3.000 |
1.995 |
0.480 |
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|
|
Manufacturing, Administrative and Other Expenses |
15.716 |
14.677 |
6.634 |
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|
|
Increase/ Decrease in Stock |
0.790 |
(1.257) |
(1.147) |
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|
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TOTAL |
54.887 |
47.414 |
15.791 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
16.434 |
23.330 |
3.997 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
2.719 |
2.113 |
1.651 |
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PROFIT BEFORE
TAX |
13.715 |
21.217 |
2.346 |
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Less |
TAX |
4.652 |
7.300 |
0.892 |
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|
PROFIT AFTER TAX
|
9.063 |
13.917 |
1.454 |
|
|
Less |
Gratuity Benefit
obligation on 01.04.2009 |
0.061 |
0.000 |
0.000 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
12.316 |
1.220 |
(0.234) |
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
1.200 |
1.000 |
0.000 |
|
|
|
Dividend Distribution Tax |
0.204 |
0.170 |
0.000 |
|
|
|
Transfer to General Reserve |
1.500 |
1.649 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
18.414 |
12.316 |
1.220 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
NA |
2.449 |
8.723 |
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|
TOTAL EARNINGS |
NA |
2.449 |
11.172 |
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|
Earnings Per
Share (Rs.) |
22.51 |
34.79 |
3.63 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
12.71
|
19.67
|
7.35 |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
19.44
|
34.56
|
12.64 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.65
|
47.64
|
8.65 |
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.54
|
1.18
|
0.45 |
|
|
|
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.16
|
1.37
|
3.93 |
|
|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.94
|
1.93
|
1.65 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from B – 125, Maruti Tenaments, Vastral Road, Odhav, Ahmedabad – 382 415, Gujarat to the present address w.e.f. 01.03.2006.
Operation:
During the year, the company have achieved sales of Rs. 70.556 Millions
and Job work of Rs. 0.120 Millions and have made profit of Rs. 9.002 Millions
after providing depreciation and Income Tax.
Form 8
|
Corporate
identity number of the company |
U24231GJ2004PTC044091 |
|
Name of the
company |
RATNAMANI BIO-CHEMICALS AND PHARMACEUTICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B – 125, Maruti Tenaments, |
|
This form is for |
Creation of
charge |
|
Charge
identification number of the modified |
80019495 |
|
Type of charge |
Book Debts Movable Property Others (Current
Assets, Plant and Machinery) |
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Particular of charge
holder |
Axis Bank Limited, Plot No. C-3/9, Opposite Asopalav Guest House,
Opposite Railway Station, Old N.H.-8, GIDC, Ankleshwar – 380006, |
|
Nature of
description of the instrument creating or modifying the charge |
Composite Hypothication Deed |
|
Date of
instrument Creating the charge |
01.07.2010 |
|
Amount secured by
the charge |
Rs.37.500
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
Schedule I of the
Composite Hypothecation Deed Terms of
Repayment: As Per Agreement Margin: Schedule I of the
Composite Hypothecation Deed Extent and
Operation of the charge: Cash Credit Rs.
20.000 Millions Export Packing
Credit Sub Limit within Cash Credit Limit Rs. 5.000 Millions Foreign Bill
Discounting foreign Bill Purchase BD sub Limit within cash credit limits Rs.
10.000 Millions Term Loan I Rs.
15.000 Millions Term Loan II Rs.
2.500 Millions Letter of Credit sub
limit within Cash Credit Limit Rs. 10.000 Millions LOU for Buyers
Credit Sub limit of LC Rs. 7.500 Millions |
|
Short particulars
of the property charged |
Schedule II of
the Composite Hypothecation Deed |
FIXED ASSETS:
- Electrification
- Laboratory
Equipments
- Plant and
Machinery
- Computer
- Dead Stock
Furniture
- Motor Car
- Office
Equipment
- Patent
WEBSITE DETAILS:
CORPORATE PROFILE
Established in the year 2005, with the motto to be the best in the API intermediates manufacturing, Ratnamani today embodies the vision of a top notch player in developing and commercializing intermediates.
The Company was started with a vision to be recognized as an aggressive company
that combines its strength of team work manufacturing with definite advantages
in terms of cost with a strong emphasis on Quality of the products.
The untiring efforts of the directors of Ratnamani develop processes for several products at relatively low cost, thus making it possible for several life saving drugs intermediates to be available at affordable prices, meeting all the Regulatory and Quality norms.
They are now focusing on giving new dimensions to the company in terms of exploring possibilities of further growth, exploring new horizons in the field of Pharmaceutical intermediates and Bio Chemicals development and evolving strategies to take the company to greater heights.
Today, Ratnamani is a trusted member for manufacturing of
pharmaceutical intermediates in Ankleshwar Industrial Estate.
Production facility
The equipments are specially designed so as to execute various processes
and reactions including.
:::: Multicapacity reactor set up with
Stainless Steel Reactors / Glass Lined Reactors
:::: Temperature flexibility from
-15°C to 250°C
:::: High Vacuum Distillation setup.
:::: Pilot plant for
pre-commercialisation scale ups.
:::: Commercial glass column
chromatographic setups.
:::: Thermic Fluid and Boilers for
wide range of high temperature operations,
:::: Chillers and Brine Units to
support low temperature operations.
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.44.78 |
|
|
1 |
Rs.73.42 |
|
Euro |
1 |
Rs. 65.27 |
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 |
YES |
|
--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 |
|
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.