MIRA
INFORM REPORT
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Report Date : |
05.10.2011 |
IDENTIFICATION DETAILS
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Name : |
VITAL HEALTH CARE PRIVATE LIMITED |
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Registered
Office : |
Venkatesh Mahant Road, Extension, Uttkarsh Mandal Circle, Vile Parle
(East), Mumbai – 400057, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
19.01.1998 |
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Com. Reg. No.: |
11-113058 |
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Capital
Investment / Paid-up Capital : |
Rs.38.020 Millions |
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CIN No.: [Company Identification
No.] |
U24230MH1998PTC113058 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV06794E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers and Suppliers of Pharmaceuticals, Bulk Drugs, Medicines
etc. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba(49) |
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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 830000 |
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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 a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as pere 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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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/Corporate Office : |
Venkatesh Mahant Road, Extension, Uttkarsh Mandal Circle, Vile Parle
(East), Mumbai – 400057, Maharashtra, India |
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Tel. No.: |
91-22-26183641/26145652/26136946 |
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Fax No.: |
91-22-26136945 |
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E-Mail : |
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Website : |
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Factory and Admn. Office : |
Plot No.1416-19 and 1420, 1507/1 and 1507/2, 1601/1 and 1601/2, G.I.D.C.
Estate, Phase III, Vapi – 396195, Gujarat, India |
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Factory 2 : |
Plot No. 1710 and A1/2208 G.I.D.C Estate, Phase III, Vapi – 396195,
Gujarat, India |
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E-Mail : |
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Website: |
DIRECTORS
As on 31.03.2011
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Name : |
Mr. Laltaprasad Shrinath Maurya |
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Designation : |
Director |
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Address : |
Ashok Nagar, Chanod Colony, Vapi – 396195, Gujarat, India |
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Date of Birth/Age : |
26.07.1955 |
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Date of Appointment : |
15.05.2005 |
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DIN No.: |
00202949 |
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Other Directorship :
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Name : |
Mr.Shri Gopal Rangnath Bajaj |
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Designation : |
Director |
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Address : |
Venkatesh, Mahant Road Extension, Uttkarsh Mandal Circle, Vile Parle
(East), Mumbai – 400057, Maharashtra, India |
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Date of Birth/Age : |
04.01.1943 |
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Date of Appointment : |
31.03.2001 |
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DIN No.: |
00983198 |
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Other Directorship :
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Name : |
Mr. Rajiv Shri Gopal Bajaj |
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Designation : |
Director |
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Address : |
Venkatesh, 2nd Floor, Mahant Road Extension, Uttkarsh
Mandal Circle, Vile Parle (East), Mumbai – 400057, Maharashtra, India |
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Date of Birth/Age : |
10.01.1965 |
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Date of Appointment : |
31.03.2001 |
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DIN No.: |
01659971 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2011
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Names of Shareholders |
No. of Shares |
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Dipika R Bajaj |
434420 |
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G.D.Bajaj |
618250 |
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Rajiv S Bajaj |
374500 |
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Rajiv S. Bajaj (HUF) |
326000 |
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S. R. Bajaj |
479080 |
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S. R. Bajaj (HUF) |
557500 |
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Padma Pharmaceuticals Private Limited, India |
1010500 |
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L.P. Maurya |
1750 |
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Total |
3802000 |
Equity Share Break up (Percentage of Total Equity)
As on 15.06.2011
|
Category |
Percentage |
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Bodies corporate |
26.58 |
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Directors or relatives of Directors |
73.42 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Suppliers of Pharmaceuticals, Bulk Drugs, Medicines
etc |
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Products : |
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PRODUCTION STATUS AS ON 31.03.2011
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Quinine Salts and Derivatives |
Kgs. |
120000 |
52645.95 |
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Artimisinine and Derivatives |
Kgs. |
24000 |
11255.33 |
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Nimesuilide and Derivatives |
Kgs. |
180000 |
104456 |
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Cinchonine and Derivatives |
Kgs. |
12000 |
468 |
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Lumefantrine and Derivatives |
Kgs. |
40000 |
18578.64 |
Note : As certified by the Director and accepted by
the Auditors. Licensed Capacity per annum is not indicated due to the abolition
of industrial licenses as per notification no; 477 (E) dated July 1991 issued under
The Industries (Development and Regulation) Act, 1951.
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
State Bank of India, Industrial Finance Branch, Sakinaka, 1st
Floor, Saki Vihar Road, Sakinaka, Andheri (East), Mumbai-400072, Maharashtra,
India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shantilal Chandaliya and Company Chartered Accountants |
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Address : |
G-6/7, Amit Industrial Premises, 61, Dr. S.S Rao Road, Parel, Mumbai –
400012, Maharashtra, India |
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Tel. No.: |
91-22-40690701 |
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Fax No.: |
91-22-40690711 |
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E-Mail : |
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PAN.: |
AAPCS5584D |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3802000 |
Equity Shares |
Rs.10/- each |
Rs.38.020
Millions |
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Note : Of the above 300000 shares have been allotted
as fully paid up on amalgamation of B. M. Pigments Private Limited with the company
1.260 millions shares have been allotted as fully paid up on account of Bonus
by Capitalization of General Reserve.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
38.020 |
38.020 |
32.810 |
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2] Share Application Money |
0.000 |
0.000 |
52.100 |
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3] Reserves & Surplus |
171.208 |
149.405 |
88.609 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
209.228 |
187.425 |
173.519 |
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LOAN FUNDS |
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1] Secured Loans |
302.006 |
192.422 |
41.095 |
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2] Unsecured Loans |
18.641 |
38.265 |
46.936 |
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TOTAL BORROWING |
320.647 |
230.687 |
88.031 |
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DEFERRED TAX LIABILITIES |
15.757 |
15.392 |
10.643 |
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TOTAL |
545.632 |
433.504 |
272.193 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
217.967 |
214.753 |
198.283 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.005 |
0.005 |
0.005 |
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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 |
264.322
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159.584
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287.642 |
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Sundry Debtors |
146.284
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189.322
|
102.365 |
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Cash & Bank Balances |
20.021
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15.445
|
9.218 |
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Other Current Assets |
0.000
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0.000
|
0.000 |
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Loans, Advances and Deposits |
37.982
|
25.586
|
32.657 |
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Total
Current Assets |
468.609
|
389.937
|
431.882 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
140.559
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170.801
|
357.977 |
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Provisions |
0.390
|
0.390
|
0.000 |
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Total
Current Liabilities |
140.949
|
171.191
|
357.977 |
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Net Current Assets |
327.660
|
218.746
|
73.905 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
545.632 |
433.504 |
272.193 |
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PROFIT & LOSS
ACCOUNT
|
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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INCOME FOR THE
YEAR |
751.939 |
661.518 |
559.550 |
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PROFIT BEFORE
TAX |
32.447 |
15.104 |
6.761 |
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Less |
TAX |
10.644 |
1.198 |
3.048 |
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PROFIT AFTER TAX
|
311.803 |
13.906 |
3.713 |
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EARNINGS
PER SHARE |
5.73 |
4.24 |
1.13 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.73
|
2.50
|
1.07 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.08
|
0.04 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.20
|
2.14
|
2.63 |
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Current Ratio (Current Asset/Current Liability) |
|
3.32
|
2.27
|
1.21 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS AND OVERALL PERFORMANCE
The operations of the Company for the year was
satisfactory. During the year sales has gone up as demand for our companies
products have been good.
Fixed Assets
·
Land
·
Building at Plot 1417
·
Building at Plot 1507
·
Building at Plot 1418
·
Building at Plot 1421
·
Building at Plot 1601
·
Building at Plot 1416
·
Building at Plot
1419/1420
·
Building at Plot 1601/03
and 04
·
Factory Sheld/ Building
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Electrical Instalation
·
Plant and Machinery
·
Office Equipments
·
Furniture and Fixtures
·
Tools and Testing
Equipments
·
Motor Car
·
Boiler
·
Pipeline
·
Scooter
·
Testing Equipments
·
Heavy Equipments
·
Capital work in progress
– Building at plot 142
·
Capital work in progress
– Building at plot 150
·
Capital work in progress
– Pipe Line
·
Capital work in progress
– Plant and Machinery
·
Capital work in progress
– Furniture and Fixture
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.49.42 |
|
|
1 |
Rs.76.72 |
|
Euro |
1 |
Rs.65.84 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
49 |
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.