MIRA
INFORM REPORT
|
Report Date : |
30.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHUBHAM PHARMACHEM PRIVATE LIMITED |
|
|
|
|
Registered Office : |
207, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2009 |
|
|
|
|
Date of Incorporation : |
28.01.1992 |
|
|
|
|
Com. Reg. No.: |
11-65071 |
|
|
|
|
Paid up Capital : |
Rs.9.300 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U99999MH1992PTC065071 |
|
|
|
|
IEC No.: |
0395013631 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS19202B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCS4582P |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Trading of Pharmaceutical and Bulk Drugs. |
|
|
|
|
No. of Employees : |
23 (approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 140000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Ashish Jaiodia |
|
Designation : |
Director |
|
Contact No.: |
91-9867248629 |
LOCATIONS
|
Registered Office : |
207, |
|
Tel. No.: |
91-22-26344608/ 09/ 10/ 56914797 |
|
Mobile No.: |
91-9867248629 (Mr. Ashish Jaiodia) |
|
Fax No.: |
91-22-26318808/ 56923929 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
600 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Kolkata Office : |
55/ 3D, |
|
Tel. No.: |
91-33-24746449/ 24750261/ 0086 |
|
Fax No.: |
91-33-24751710 |
|
E-Mail : |
|
|
|
|
|
Warehouse 1 : |
Gala No. 5, Building No.1, Manish Compound, Anjur Phata Rahnal, Village,
Bhiwandi, Thane, |
|
Area : |
500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Warehouse 2 : |
Gala No.18, Building No.2, Manish Compound, Bhiwandi, Thane, |
|
Area : |
350 sq. ft. |
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Rajesh J. Jajodia |
|
Designation : |
Director |
|
Address : |
55/ 3D, |
|
Date of Birth/Age : |
25.03.1969 |
|
Qualification : |
B. Com |
|
Experience : |
22 years |
|
Date of Appointment : |
28.01.1992 |
|
|
|
|
Name : |
Mr. Manish J. Jajodia |
|
Designation : |
Director |
|
Address : |
55/ 3D, |
|
Date of Birth/Age : |
01.08.1970 |
|
Qualification : |
B. Com |
|
Experience : |
21 years |
|
Date of Appointment : |
15.01.1993 |
|
|
|
|
Name : |
Mr. Ashish J. Jajodia |
|
Designation : |
Director |
|
Address : |
55/ 3D, |
|
Date of Birth/Age : |
25.02.1974 |
|
Qualification : |
B. Com |
|
Experience : |
18 years |
|
Date of Appointment : |
15.01.1993 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rajesh J. Jajodia |
|
37550 |
|
Ashish J. Jajodia |
|
27600 |
|
Manish J. Jajodia |
|
6350 |
|
|
|
|
BUSINESS DETAILS
|
Line of Business : |
Trading of Pharmaceutical and Bulk Drugs. |
|
|
|
|
Agencies Held : |
·
Glenmark Pharmaceutical Limited, Mumbai ·
ARCH Pharmalab, Mumbai ·
Unique Remedies, Mumbai ·
DSM, |
|
|
|
|
Exports : |
|
|
Products : |
Bulk Drugs |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
·
Pharmaceutical ·
Bulk Drug ·
Raw Materials |
|
Countries : |
·
·
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and upto 90 days |
|
|
|
|
Purchasing : |
L/C, Cash and upto 90 days |
GENERAL INFORMATION
|
Customers : |
Wholesalers and End Users ·
|
|
|
|
|
Suppliers : |
·
Shanghai Baoda Pharmaceutical Company Limited, ·
Textron Tecnica S. L., |
|
|
|
|
No. of Employees : |
23 (Office – 20 and Branch – 3) |
|
|
|
|
Bankers : |
·
Standard Chartered Bank 18, |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kanthaliya and Associates Chartered Accountant |
|
Address : |
Bhyander, District Thane, |
|
Tel. No.: |
91-9821066517 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
93000 |
Equity Shares |
Rs.100/- each |
Rs.9.300 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
9.300 |
5.900 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
24.961 |
16.232 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
34.261 |
22.132 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
12.054 |
10.763 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
12.054 |
10.763 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
46.315 |
32.895 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
7.258 |
5.525 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
2.711 |
0.012 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
9.770 |
13.407 |
|
|
Sundry Debtors |
|
215.021 |
160.943 |
|
|
Cash & Bank Balances |
|
5.001 |
0.430 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
11.855 |
11.684 |
|
Total
Current Assets |
|
241.647 |
186.464 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
198.479 |
155.073 |
|
|
Provisions |
|
6.822 |
4.033 |
|
Total
Current Liabilities |
|
205.301 |
159.106 |
|
|
Net Current Assets |
|
36.346 |
27.358 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
46.315 |
32.895 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
|
|
Sales Turnover |
|
781.881 |
626.111 |
|
|
Other Income |
|
9.006 |
6.481 |
|
|
Total Income |
|
790.887 |
632.592 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
13.450 |
6.473 |
|
|
Provision for Taxation |
|
4.714 |
2.114 |
|
|
Profit/(Loss) After Tax |
|
8.736 |
4.359 |
|
|
|
|
|
|
|
|
Import Value |
|
740.402 |
601.713 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
|
744.398 |
603.385 |
|
|
Personal Cost |
|
3.227 |
2.538 |
|
|
Increase/(Decrease) in Finished Goods |
|
3.637 |
(0.968) |
|
|
Interest |
|
3.695 |
1.091 |
|
|
Depreciation & Amortization |
|
0.898 |
0.730 |
|
|
Other Expenditure |
|
21.582 |
19.339 |
|
Total Expenditure |
|
777.437 |
626.119 |
|
|
|
|
|
|
|
|
Earnings Per Share (Rs.) |
|
220 |
110 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
|
1.10 |
0.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
1.72 |
1.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
5.40 |
3.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.39 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
6.34 |
7.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.18 |
1.17 |
LOCAL AGENCY FURTHER INFORMATION
WEBSITE DETAILS:
PROFILE:
The year 1989 saw the birth of the company under the
leadership of Mr. J K Jajodia. The company strides to achieve global standards
in the field of pharmaceuticals and bulk drugs.
The company initially started with domestic trading in bulk
drugs under J K Jajodia, Rajesh Jajodia and Ashish Jajodia, and gradually
ventured into the areas of export under Manish Jajodia, imports and indenting
under Manish Jajodia and Jaya Jajodia as well as the export of finished dosages
under Rajesh Jajodia. This resulted in the creation of a large clientele not
only in the domestic market but also in international markets.
Constant diversification and expansion of business
activities has attributed to a high growth rate, as would be evident from the
fact that the turnover of the group rose by 400% in a span of 10 years.
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.52.16 |
|
|
1 |
Rs.81.28 |
|
Euro |
1 |
Rs.69.47 |
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 |
YES |
|
--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.