MIRA
INFORM REPORT
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Report Date : |
20.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
NAPROD LIFE SCIENCES PRIVATE LIMITED (w.e.f. December, 2006) |
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Formerly Known
As : |
NEON ANTIBIOTICS PRIVATE LIMITED |
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Registered
Office : |
304, Town Centre, 3rd Floor, Andheri – |
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Country : |
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Financials (as
on) : |
31.03.2008 (Unaudited) |
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Date of
Incorporation : |
30.07.1990 |
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Com. Reg. No.: |
11-057496 |
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Capital
Investment / Paid-up Capital : |
Rs.30.000 millions |
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CIN No.: [Company Identification
No.] |
U24230mh1990ptc057496 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
mumn04316e |
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Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Manufacturer of Parenterals, Tablets, Capsules Formulations and
General/ Sterile API’s. |
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No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not recommended |
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Status : |
Dormant |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
As per Government, the status of the company is shown as Dormant. But the
management claims that the company’s status is active. There are some disputes in the management and company failed to file
financials after 2006. In absence of audited statements, the current financial status and
performance are unknown. Keeping in view of the aforesaid, the company can be considered for
business dealings on a safe and secured 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 PARTED BY (Partial Details)
|
Name : |
Mr. Ketan Shah |
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Designation : |
Finance Manager |
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Contact No.: |
91-9320720397 |
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Date : |
13.05.2011 |
LOCATIONS
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Registered/ Corporate Office : |
304, Town Centre, 3rd Floor, Andheri – |
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Tel. No.: |
91-22-42142700/ 40939000/ 01/ 66490034/ 37 |
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Mobile No.: |
91-9320720397 (Mr. Ketan Shah) |
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Fax No.: |
91-22-66490036/ 40939060 |
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E-Mail : |
salakha.mane@naprodgroup.com |
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Website : |
www.naprodgroup.com |
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Area: |
1500 sq ft (Approximately) |
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Location : |
Owned |
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factory : |
G/70/1, MIDC, Tarapur, Boisar, Thane – 401 506, |
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Area: |
3600 sq. ft. |
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Location : |
Leased |
DIRECTORS
As on 26.10.2006
|
Name : |
Mr. Ashok Jain |
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Designation : |
Director |
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Address : |
15, Samhita CHS Limited, |
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Date of Birth/Age : |
13.09.1957 |
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Qualification: |
Graduate |
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Date of Appointment : |
25.03.1996 |
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Name : |
Mr. Mohan Jain |
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Designation : |
Director |
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Address : |
B-83, |
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Date of Birth/Age : |
24.12.1966 |
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Qualification: |
M. Pharma |
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Date of Appointment : |
02.03.1994 |
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Date of Ceasing : |
16.11.2007 |
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Name : |
Mrs. Kamla Jain |
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Designation : |
Director |
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Address : |
B-83, |
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Date of Birth/Age : |
10.12.1947 |
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Qualification: |
F.Y.B.Com |
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Date of Appointment : |
25.03.1996 |
KEY EXECUTIVES
|
Name : |
Mr. Ketan Shah |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.10.2006
|
Names of Shareholders |
|
No. of Shares |
|
Uttam K. Jain |
|
63480 |
|
Pravin K. Jain |
|
15620 |
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Babulal K. Jain |
|
28000 |
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Ashok K. Jain |
|
127390 |
|
Babulal K. Jain (HUF) |
|
50150 |
|
Ashok K. Jain (HUF) |
|
17850 |
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Chanchal Jain |
|
95400 |
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Karla B. Jain |
|
109150 |
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|
200500 |
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Manish Jain |
|
27600 |
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Mohan Jain |
|
58500 |
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Meena Jain |
|
100900 |
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Sunita Jain |
|
84742 |
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Uttam K. Jain (HUF) |
|
54700 |
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Abhay Jain |
|
62792 |
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Rahul Jain |
|
67192 |
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Prachi Jain |
|
125092 |
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Pravin K. Jain (HUF) |
|
9750 |
|
Rohan Jain |
|
54792 |
|
Jain Pravin-Hira and Company, |
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15150 |
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Jain B. Manish (N.AG) |
|
11500 |
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Sangeeta Jain |
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109350 |
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Aarya Jain |
|
100 |
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Nisal Jain |
|
100 |
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Niyati Jain |
|
10100 |
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Mohan B. Jain (HUF) |
|
100 |
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Total
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|
1500000 |
As on 26.10.2006
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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|
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Parenterals, Tablets, Capsules Formulations and
General/ Sterile API’s. |
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Products : |
·
Anaesthetics and Allied Products ·
Antineoplast Products ·
Corticosteroids and Hormons Products ·
Antibacterials Products ·
Antitubercular Products ·
Gynaecological Products ·
Analgesic and Antipyratic Products ·
Cardiovascular Products ·
Vitamin, Haematinic and Mineral Preparations ·
Antihistamine, Cough and Cold Preparations ·
Other Specialities ·
Vetrinary Products |
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Exports : |
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Products : |
Injectables |
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Countries : |
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Imports : |
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Products : |
Raw
materials |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and
Credit (30/ 60/ 90 days) |
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Purchasing : |
L/C, Cash
and Credit (30/ 60/ 90 days) |
PRODUCTION STATUS (AS ON 31.03.2006)
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
Injections |
(Nos.) I (In
Lacs) |
|
230.00 |
81.83 |
|
Capsules |
(Nos.) I (In
Lacs) |
|
210.00 |
5.36 |
|
Tablets |
(Nos.) I (In
Lacs) |
|
350.00 |
305.31 |
|
Bulk Drugs |
Kgs. |
|
18000.00 |
3430.78 |
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GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers, End Users and OEM’s |
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No. of Employees : |
350 (Approximately) |
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Bankers : |
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Facilities : |
Cash Credit – Rs.47.500 millions (ICICI Bank Limited, |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sohan S. jain and
Company Chartered Accountants |
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Address : |
301, Verma Chambers, 11, |
CAPITAL STRUCTURE
As on 26.10.2006
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000
millions |
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET (unaudited)
|
SOURCES OF FUNDS |
|
|
31.03.2008 |
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SHAREHOLDERS FUNDS |
|
|
|
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1] Share Capital |
|
|
30.000 |
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2] Share Application Money |
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|
0.000 |
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3] Reserves & Surplus |
|
|
280.000 |
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4] (Accumulated Losses) |
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|
0.000 |
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NETWORTH |
|
|
310.000 |
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LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
|
|
80.000 |
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2] Unsecured Loans |
|
|
0.000 |
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TOTAL BORROWING |
|
|
80.000 |
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DEFERRED TAX LIABILITIES |
|
|
0.000 |
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TOTAL |
|
|
390.000 |
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|
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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|
140.000 |
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Capital work-in-progress |
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|
0.000 |
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INVESTMENT |
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|
0.000 |
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DEFERREX TAX ASSETS |
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|
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
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|
33.000 |
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Sundry Debtors |
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|
159.000 |
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Cash & Bank Balances |
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|
49.000 |
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Other Current Assets |
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|
67.000 |
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Loans & Advances |
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|
0.000 |
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Total
Current Assets |
|
|
308.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Sundry Creditors |
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|
58.000 |
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Other Current Liabilities |
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|
Provisions |
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|
0.000 |
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Total
Current Liabilities |
|
|
58.000 |
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Net Current Assets |
|
|
250.000 |
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MISCELLANEOUS EXPENSES |
|
|
0.000 |
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TOTAL |
|
|
390.000 |
|
PROFIT & LOSS
ACCOUNT (unaudited)
|
PARTICULARS |
|
31.03.2009 (Approximately) |
31.03.2008 |
|
|
Sales Turnover |
|
400.000 |
380.000 |
|
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Other Income |
|
10.000 |
8.500 |
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Total Income |
|
410.000 |
388.500 |
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|
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|
Profit/(Loss) Before Tax |
|
100.000 |
100.000 |
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Provision for Taxation |
|
26.600 |
33.300 |
|
|
Profit/(Loss) After Tax |
|
73.400 |
69.300 |
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|
|
|
|
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Import value
|
|
NA |
144.000 |
|
|
|
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Expenditures : |
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|
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|
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Administrative Expenses |
|
NA |
120.000 |
|
|
Interest |
|
NA |
8.100 |
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|
Depreciation & Amortization |
|
NA |
7.300 |
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|
Other Expenditure |
|
NA |
153.100 |
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Total Expenditure |
|
NA |
288.500 |
|
|
|
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|
|
|
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Earnings Per Share (Rs.) |
|
NA |
23.10 |
|
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Particulars |
|
31.03.2011 (Approximately) |
31.03.2010 (Approximately) |
|
Sales Turnover |
|
650.000 |
420.000 |
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|
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|
Expected Sales (2011-2012): Rs.720.000 millions
The above information has been parted by Mr. Ketan Shah (Finance
Manager).
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2009 (Approximately) |
31.03.2008 (unaudited) |
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|
|
|
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|
PAT / Total Income |
(%) |
|
17.90 |
17.84
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
|
25.00 |
26.32
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
NA |
22.32 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
NA |
0.32 |
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Debt Equity Ratio (Total Liability/Networth) |
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|
NA |
0.45 |
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|
Current Ratio (Current Asset/Current Liability) |
|
|
NA |
5.31 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from 146, Damji Shamji Industrial Compound, Caves Road, Andheri (East), Mumbai – 400 093, Maharashtra to the present address w.e.f. 01.12.2006.
history:
the company was incorporated on 30th
July, 1990 under the name and style of Neon Antibiotics Private Limited.
Name changed to present in December 2006.
|
Name of the company |
NEON ANTIBIOTICS PRIVATE LIMITED |
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Presented By |
State Bank of |
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1) Date and description of instrument creating the change |
General Agreement
for the grant of Small Industrial Advances and Hypothecation of Bills and
Stocks dated 09.12.1997 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.19.100
millions (Rs. in millions)
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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 |
Hypothecation of
all Movable, Book debts and other assets whether present or future with
registration against the creation of any further charge thereon for all Indebtness
and Liabilities of the company to the Bank by way of working capital present
and future, the present limit having been determined at Rs.19.100 millions. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
R.O.I.: As
determined by the Bank from time to time. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of |
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6) Date and brief description of instrument modifying the charge |
a. Supplemental
Agreement of loan for increase in the overall limit. (Form C.1-A) b. Supplemental
Agreement of hypothecation of goods and assets for increase in the overall
limit. c. Letter
regarding the grant of individual limit within the overall limit. All the above
agreements are dated 26.04.2002 and executed for the creation of a single
modification. |
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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 original
charge was created on 09.12.97 for Rs.19.100 millions 1stly modified on
21.03.2001 for Rs.27.500 millions 2ndly modified on 29.03.2001 the by giving
an additional collateral security over the company’s immovable properties.
3rdly modified on 17.08.2001 for Rs.32.500 millions. Now by the present
modification 26.04.2002 the limit increased from Rs.32.500 millions to
Rs.44.000 millions. The limit are as under:
|
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24230mh1990ptc057496 |
|
Name of the
company |
NAPROD LIFE SCIENCES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
304, Town Centre, 3rd Floor, Andheri – |
|
Type of charge |
Book Debts Movable Property Others |
|
Particular of
charge holder |
CIN No.: L65190GJ1994PLC021012 ICICI Bank Limited, E-Mail: hanif.usman@icicibank.com |
|
Nature of description
of the instrument creating or modifying the charge |
Deed of
Hypothecation dated 22nd February, 2007 executed by Naprod Life Sciences
Private Limited in favour of ICICI Bank Limited. |
|
Date of
instrument Creating the charge |
22/02/2007 |
|
Amount secured by
the charge |
Rs.47.500
millions |
FIXED ASSETS:
·
·
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Motor Car
·
Electric Installation
·
Temperature Control Equipment
·
Blocks and Dies
·
Material Handling Equipment
·
Laboratory Equipment
·
Plant and Machinery
·
Water Purification Systems
·
Boiler
·
Energy Saving Devises
·
Pollution Control Equipment
WEBSITE DETAILS:
CORPORATE PROFILE:
Subject’s vision is to become a world class player in oncology through excellence in innovation, discovery of new manufacturing processes / drug delivery mechanisms and consistently high quality of production.
They commenced operations in 1994 with the inauguration of
the ultra-modern facility for the production of generics and formulations for
oncology and other therapeutic applications. They are one of the pioneers in
They identified, very early, the need for achieving self - sufficiency in formulations as well as in Active Pharmaceutical Ingredients (APIs), and the achievements reflect this focus. They launched the (APIs) in year 1994 and now have to the credit a number of new manufacturing processes and drug delivery mechanisms.
They have a manufacturing plant located at Tarapur, Thane in
The marketing spans domestic and overseas operations. With a network across the Indian sub-continent and market penetration in several countries across four continents, they are on the way to meeting the target of reaching out to cancer patients, worldwide.
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.44.98 |
|
|
1 |
Rs.72.68 |
|
Euro |
1 |
Rs.64.16 |
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.