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MIRA
INFORM REPORT
|
Report Date : |
15.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
SEPTECH MARKETING (INDIA) PRIVATE LIMITED |
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Registered
Office : |
1, Jayaram Niwas, Tilak Mandir Road, Vile Parle (East), Mumbai-400057,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
08.04.1992 |
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Com. Reg. No.: |
11-066269 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.800 million |
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CIN No.: [Company Identification
No.] |
U51900MH1992PTC066269 |
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IEC No.: |
0392039044 |
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PAN No.: [Permanent Account No.] |
AAACS6366E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Laboratory and Scientific Instruments and
Accessories. |
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No. of Employees
: |
21 (In Office -13, In Branch-8) (Approximately) |
RATING & COMMENTS
|
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 150000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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 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 |
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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 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Alok Bisaria |
|
Designation : |
Director |
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Contact No.: |
91-9821151612 |
|
Date : |
15.10.2011 |
LOCATIONS
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Registered Office : |
1, Jayaram Niwas, Tilak Mandir Road, Vile Parle (East), Mumbai-400057,
Maharashtra, India |
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Tel. No.: |
91-22-26116204 / 26100851 /26104756 |
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Fax No.: |
91-22-62104699 |
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E-Mail : |
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Website : |
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Area : |
427 Sq. ft |
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Location : |
Rented |
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BRANCH OFFICE : |
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PUNE |
3, Anant
Apartments, 1145, Sadashiv Peth, Pune-411030, Maharashtra, India |
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Tel. No.: |
91-20-24473802 |
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E-Mail : |
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Area : |
700 sq. ft. |
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Location : |
Rented |
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DELHI |
F-503, 5th floor,
Nikita Tower-1, Naniwala Bagh, Azadpur Commercial Complex, |
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E-Mail : |
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Area : |
410 sq. ft. |
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Location : |
Rented |
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BANGALORE |
Flat No.214,
Panchavati Apartment, 5th Main Srirampuram, Bangalore- 560021, India |
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E-Mail : |
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HYDERBAD |
7-1-282/C/12, Sriramnagar Colony,
BK Guda, SR Nagar, Hyderabad-500038, India |
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Tel. No.: |
91-40-2380902 / 0906 |
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E-Mail : |
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KOLKATA |
35B, S. B. Ghosh Lane, Mahesh,
Serampore-712 202, West Bengal, India |
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Tel. No.: |
91-33-26520703 |
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E-Mail : |
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CHENNAI |
Adithya Enterprises, 11/2A, Gandhi Street, Postal Audit Colony,
Saligramam, Chennai-600093, Tamilnadu, India |
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E-Mail : |
DIRECTORS
AS ON 29.09.2010
|
Name : |
Mr. Chinatamani Shankar Godbole |
|
Designation : |
Director |
|
Address : |
86/5, Jay Vijay society, Off Western Highway, Vile Parle (East),
Mumbai-400099, Maharashtra, India |
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Date of Birth/Age : |
30.03.1956 |
|
Date of Appointment : |
08.04.1992 |
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DIN No.: |
00686158 |
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|
|
|
Name : |
Mr. Alok Maheshchand Bisaria |
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Designation : |
Director |
|
Address : |
8-Sumit Apartment, 31-a, Carmichael Road, Mumbai-400026, Maharashtra,
India |
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Date of Birth/Age : |
24.11.1953 |
|
Date of Appointment : |
08.04.1992 |
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DIN No.: |
00686236 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current
designation |
Original date of appointment |
Company Status |
Defaulting status |
|
1 |
U51900MH1992PTC066269 |
Septech Marketing (India) Private Limited |
Director |
08-04-92 |
08-04-92 |
Active |
NO |
|
2 |
U65990MH1993PTC073081 |
Bisaria Investments Private Limited |
Director |
23-07-93 |
23-07-93 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2010
|
Names of Shareholders |
No. of Shares |
|
Chinatamani Shankar Godbole |
4000 |
|
Alok Maheshchand Bisaria |
4000 |
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|
|
|
Total |
8000 |
AS ON 29.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Laboratory and Scientific Instruments and
Accessories. |
|
|
|
|
Products : |
·
Infra Red Spectrophotometer ·
Lab Instruments and Biotech Instruments ·
HPLC Systems and Accessories ·
LPLC ·
Syringe Pumps Systems ·
Combi Flash System and Accessories ·
“FlowSyn” Continuous Flow Reactor for Organic
Chemistry Synthesis ·
HPLC Columns
|
|
|
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Brand Names : |
·
Teledyne ISCO ·
Uniqsis ·
Tosoh / Shodex ·
Analtech ·
LabAlliance ·
MRC ·
Zeutech |
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|
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|
Agencies Held : |
·
Teledyne Isco Inc, USA ·
Uniqsis Limited, UK ·
Everseiko Corporation, Japan ·
Analtech, USA ·
Scientific Systems Inc, USA ·
MRC Limited, Israel ·
Zeutech Limited, Germany ·
Strio Chem, India ·
Grant Instruments, England |
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Imports : |
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Products : |
·
Chromatography Instruments and Consumables ·
HPLC Cloumns ·
Flow Syn Synthesis |
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Countries : |
·
USA ·
Japan ·
Great Britian ·
Germany |
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Terms : |
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Selling : |
L/C, Credit (30 days) |
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Purchasing : |
Credit (60 days) |
GENERAL INFORMATION
|
Customers : |
End Users ·
Nycomed Pharma Private Limited ·
Nicholas Piramal Research Centre ·
Jubilant Chemsys Limited ·
Goa College of Pharmacy |
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No. of Employees : |
21 (In Office -13, In Branch-8) (Approximately) |
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Bankers : |
·
The
Saraswat Co-Operative Bank Limited, Vile Parle Branch, Vile Parel (West),
Mumbai-400057, Maharashtra, India ·
ICICI Bank |
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Facilities : |
The Saraswat
Co-Operative Bank Limited Cash Credit Limit Rs. 4.500 millions |
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Banking
Relations : |
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Auditors : |
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|
Name : |
Kishan Hasani and Associates Chartered Accountant |
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Address : |
45, Balkrishna Krupa Co-operative Housing Society Limited, 2nd
Floor, 45/49, Babbu Genu Road, Kalbadevi Mumbai-400002, Maharashtra, India |
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Tel. No.: |
91-22-22082526 |
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Fax No.: |
91-22-22081213 |
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E-Mail : |
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Enterprises in which Director is able to exercise significant
influence: |
·
Bisaria Investments Private Limited ·
Search Sales and Services |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000 |
Equity Shares |
Rs.100/-
each |
Rs. 0.600
Million |
|
2000 |
Equity Shares |
Rs.100/-
each |
Rs. 0.200
Million |
|
|
Total |
|
Rs. 0.800 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.800 |
0.800 |
0.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
36.809 |
33.075 |
25.402 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
37.609 |
33.875 |
26.202 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.403 |
0.376 |
0.621 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1.403 |
0.376 |
0.621 |
|
|
DEFERRED TAX LIABILITIES |
0.580 |
0.582 |
0.264 |
|
|
|
|
|
|
|
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TOTAL |
39.592 |
34.833 |
27.087 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
4.189 |
6.267 |
2.975 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.025 |
0.025 |
0.025 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.249
|
5.253 |
5.237 |
|
|
Sundry Debtors |
3.590
|
3.394 |
3.262 |
|
|
Cash & Bank Balances |
24.515
|
20.613 |
15.638 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
10.200
|
19.211 |
13.508 |
|
Total
Current Assets |
43.554
|
48.471 |
37.645 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.135
|
0.506 |
0.024 |
|
|
Other Current Liabilities |
2.490
|
4.313 |
2.200 |
|
|
Provisions |
5.551
|
15.111 |
11.334 |
|
Total
Current Liabilities |
8.176
|
19.930 |
13.558 |
|
|
Net Current Assets |
35.378
|
28.541 |
24.087 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
39.592 |
34.833 |
27.087 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
7.652 |
7.763 |
6.308 |
|
|
|
Other Income |
24.447 |
30.920 |
43.009 |
|
|
|
TOTAL (A) |
32.099 |
38.683 |
49.317 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
3.722 |
3.583 |
3.179 |
|
|
|
Administrative Expenses |
18.077 |
16.411 |
16.185 |
|
|
|
Selling and Distribution Expenses |
3.792 |
6.144 |
8.142 |
|
|
|
TOTAL (B) |
25.591 |
26.138 |
27.506 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6.508 |
12.545 |
21.811 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.024 |
0.047 |
0.068 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.484 |
12.498 |
21.743 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.931 |
0.996 |
0.708 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.553 |
11.502 |
21.035 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.818 |
3.829 |
7.428 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.735 |
7.673 |
13.607 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
32.326 |
24.653 |
11.046 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
36.061 |
32.326 |
24.653 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Earnings |
18.061 |
26.698 |
40.849 |
|
|
|
Reimbursement of Expenses |
0.000 |
0.000 |
0.014 |
|
|
TOTAL EARNINGS |
18.061 |
26.698 |
40.863 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
CIF Value of Imports |
3.558 |
2.692 |
2.271 |
|
|
|
Fixed Assets |
0.00 |
4.862 |
0.000 |
|
|
TOTAL IMPORTS |
3.558 |
7.554 |
2.271 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
466.84 |
959.14 |
1700.87 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
11.64
|
19.84 |
27.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
72.57
|
148.16 |
333.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.63
|
21.01 |
51.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.34 |
0.80 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.27
|
0.62 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.33
|
2.43 |
2.78 |
LOCAL AGENCY FURTHER INFORMATION
Note: Registered office
address of the company has been shifted from 86/5, Jay Vijay society, Off We
Highway, Vile Parle (East), Mumbai-400099, Maharashtra, India to the present
address.
OPERATIONS:
During the year, the company has made a handsome profit and is further
hopeful to achieve good results in the coming years to.
FORM 8
|
Corporate
identity number of the company |
U51900MH1992PTC066269 |
|
Name of the
company |
SEPTECH MARKEING
(INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
86/5, Jay Vijay
Society, Off Western Highway, Vile Parle (East), Mumbai-400099, Maharashtra,
India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Hypothecation |
|
Particular of
charge holder |
The Saraswat
Co-Operative Bank Limited, Vile Parle Branch, Vile Parel (West),
Mumbai-400057, Maharashtra, India |
|
Amount secured by
the charge |
Rs. 0.800 million
|
|
Description of
the property charged indicating whether it is a charged on |
·
Stock
in Trade ·
Plant
and Machinery ·
Book
Debts |
|
Short particulars
of the property charged (Including location of the property) |
All the current assets,
tangible property, stocks of raw material, consumable, tools, packing
materials, electrical items, book debts, outstanding monies, receivables,
claims and bills plant and machinery etc and more particularly as shown in
the above referred agreements dated 03.10.2002 |
|
Charge
identification number of the charge to be modified |
80004286 |
|
Brief description
of the instrument modifying the charge under section 135 |
Agreement of
hypothecation of movable property |
|
Date of instrument
modifying the charge |
31.05.2006 |
FIXED ASSETS
·
Plant and Machinery
·
Office Equipment
·
EPABX System
·
Scientific Instruments
·
Motor Vehicles
·
Computers
·
Furniture and Fixtures
WEB SITE DETAILS
PROFILE
Subject was established
in 1992 by Dr CS Godbole and Mr Alok Bisaria who have vast
experience in Sales and Marketing of Liquid Chromatography and other allied
instruments. Subject has a team of qualified dynamic specialists in their
respective fields.
Subject
Marketing employs more than 25 persons spread all over India. The Corporate
Office of the Company is located at Mumbai near International and Domestic
Airport at 1, Jayaram Nivas, Tilak Mandir Road, Vile Parle (E), Mumbai, 400
057. We have branches at Pune, New Delhi, Hyderabad, Bangalore and local sub
agents in Kolkatta, Lucknow, and Chennai. These offices are supported by
well-qualified people in the field of Chromatography for sales, application and
service support.
Their
Principals, Teledyne ISCO Inc of Lincoln, Nebraska, USA has given us
"Outstanding Performance for Sales" Awards for the years 2001, 2004
and 2005 for their Separation Products Division. They have also received awards
in the past for outstanding support and in surpassing order targets.
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. 49.06 |
|
|
1 |
Rs. 77.41 |
|
Euro |
1 |
Rs. 67.72 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--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.