1. Summary Information
|
|
|
Country |
India |
|
Company Name |
HINDUSTAN
SPECIALITY CHEMICALS |
Principal Name 1 |
Mr. Manish B. Shah |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Ramesh Shah |
|
|
|
Registration # |
---- |
|
Street Address |
401,
Earth Samapann, 198/200, Khetwadi Main Road, 4th Floor, Mumbai-400004, Maharashtra,
India |
||
|
Established Date |
1999 |
SIC Code |
-- |
|
Telephone# |
91-22-66569999 |
Business Style 1 |
Trader |
|
Fax # |
91-22-66569900 |
Business Style 2 |
Importer |
|
Homepage |
---- |
Product Name 1 |
Pharmaceutical Chemicals |
|
# of employees |
15
(Approximately) |
Product Name 2 |
Tetra Hydro Furan. Origin – BASF |
|
Paid up capital |
Rs.104,356,000/-
(2010) |
Product Name 3 |
N-Methyl Pyprolidone – BASF |
|
Shareholders |
--- |
Banking |
Citi Bank |
|
Public Limited Corp. |
NO |
Business Period |
|
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(50) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Sister
Concern |
India
|
Nutron Pharmaceuticals Private Limited |
--- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
-- |
Current Liabilities |
-- |
|
Inventories |
-- |
Long-term Liabilities |
-- |
|
Fixed Assets |
-- |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
-- |
|
Invest& other Assets |
-- |
Retained Earnings |
-- |
|
|
|
Net Worth |
-- |
|
Total Assets |
-- |
Total Liab. & Equity |
-- |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
445,400,000 |
Net Profit |
-- |
|
Sales(Previous yr) |
385,935,000 |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
13.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
401, Earth Samapann, 198/200, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Year of Establishment : |
1999 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 104.356 millions (estimated) |
|
|
|
|
IEC No.: |
0399009060 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABFH2933C |
|
|
|
|
Legal Form : |
Partnership Concern With an Unlimited Liability of the Partner |
|
|
|
|
Line of Business : |
Trader and Importer of Pharmaceutical Chemicals |
|
|
|
|
No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 280000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed concern having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The concern 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) |
|
|
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. Dinesh Shah |
|
Designation : |
Authorized Signatory |
|
Contact No.: |
91-9820454447 |
|
Date : |
08.09.2011 |
LOCATIONS
|
Registered / Administrative Office : |
401, Earth Samapann, 198/200, |
|
Tel. No.: |
91-22-66569999 |
|
Mobile No.: |
91-9820454447 (Mr. Dinesh Shah) |
|
Fax No.: |
91-22-66569900 |
|
E-Mail : |
|
|
Location : |
Owned |
PARTNERS
As on : 31.03.2011
|
Name : |
Mr. Manish B. Shah |
|
Designation : |
Partner |
|
Date of Birth/Age : |
39 Years |
|
Qualification : |
B. E. (Chem) |
|
Experience : |
15 Years |
|
|
|
|
Name : |
Mr. Ramesh Shah |
|
Designation : |
Partner |
|
Date of Birth/Age : |
57 Years |
|
Qualification : |
Diploma in Civil Engineering |
|
Experience : |
38 Years |
|
|
|
|
Name : |
Mr. Ritesh Shah |
|
Designation : |
Partner |
|
Date of Birth/Age : |
32 Years |
|
Qualification : |
B. Com. |
|
Experience : |
10 Years |
|
|
|
|
Name : |
Mrs. Shilpa Shah |
|
Designation : |
Partner |
|
Date of Birth/Age : |
37 Years |
|
Qualification : |
B.Com |
|
Experience : |
10 Years |
|
|
|
|
Name : |
Mrs. Purnima Shah |
|
Designation : |
Partner |
|
Date of Birth/Age : |
36 Years |
|
Qualification : |
B.Com |
|
Experience : |
10 Years |
|
|
|
|
Name : |
Mrs. Deepali Shah |
|
Designation : |
Partner |
|
Date of Birth/Age : |
30 Years |
|
Qualification : |
B.Com |
|
Experience : |
10 Years |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Shah |
|
Designation : |
Authorized Signatory |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Pharmaceutical Chemicals |
|
|
|
|
Products : |
|
|
|
|
|
Agencies Held : |
v
BASF, |
|
|
|
|
Imports : |
|
|
Products : |
Chemicals |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
15 (Approximately) |
|
|
|
|
Bankers : |
Citi Bank, |
|
|
|
|
Facilities : |
CC – Rs.80.000 Millions |
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
V C Shah And Company Chartered Accountant |
|
Address : |
12/13, Sahid Bhagat Singh Road, Rajgir Chambers, 2nd Floor, Opposite Old Custom House, Fort, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-43440123 |
|
Fax No.: |
91-22-22662667 |
|
E-Mail : |
|
|
|
|
|
Associates/Subsidiaries : |
Nutron Pharmaceuticals Private Limited, Mumbai Line of Business : Trader of Chemicals |
CAPITAL STRUCTURE
As on : 31.03.2011
|
Capital Investment : |
|
|
Owned : |
Rs. 104.356 millions (estimated) |
|
Borrowed : |
-- |
|
Total : |
Rs. 104.356 millions (estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
104.356 |
77.543 |
73.971 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
104.356 |
77.543 |
73.971 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
64.290 |
52.721 |
40.809 |
|
|
TOTAL BORROWING |
64.290 |
52.721 |
40.809 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
168.646 |
130.264 |
114.780 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.707 |
4.702 |
5.280 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
8.809 |
0.170 |
0.170 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
61.133
|
38.104
|
36.043 |
|
|
Sundry Debtors |
89.087
|
71.702
|
99.240 |
|
|
Cash & Bank Balances |
9.931
|
14.962
|
0.294 |
|
|
Other Current Assets |
0.000
|
21.506
|
11.406 |
|
|
Loans & Advances |
71.713
|
30.598
|
5.577 |
|
Total
Current Assets |
231.864
|
176.872
|
152.560 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
76.734
|
51.480
|
43.230 |
|
|
Provisions |
0.000
|
0.000
|
0.000 |
|
Total
Current Liabilities |
76.734
|
51.480
|
43.230 |
|
|
Net Current Assets |
155.130
|
125.392
|
109.330 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
168.646 |
130.264 |
114.780 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
314.321 |
335.019 |
322.857 |
|
|
|
Other Income |
71.614 |
4.576 |
3.265 |
|
|
|
TOTAL |
385.935 |
339.595 |
326.122 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
0.062 |
|
|
|
|
|
Other Expenditure |
333.252 |
|
|
|
|
|
Commission |
2.197 |
|
|
|
|
|
Donation |
1.450 |
310.894 |
284.939 |
|
|
|
Bad Debts |
0.727 |
|
|
|
|
|
Bank charges |
0.522 |
|
|
|
|
|
Sales Tax Paid |
5.519 |
|
|
|
|
|
VAT 4 % |
1.447 |
|
|
|
|
|
TOTAL |
345.176 |
310.894 |
284.939 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
40.759 |
28.701 |
41.183 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.554 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
40.205 |
28.701 |
41.183 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
13.121 |
10.379 |
14.701 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
27.084 |
18.322 |
26.482 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
445.400 |
|
|
|
|
|
The above information has been parted by Mr. Dinesh Shah.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.01 |
5.40 |
8.12 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.79 |
8.57 |
12.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
38.52 |
15.81 |
26.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38 |
0.37 |
0.56 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.35 |
1.34 |
1.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.02 |
3.44 |
3.53 |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES :
- Cadila Healthcare Limited
- Torrent Pharma
- Nicholas Piramal India Limited
- Sun Pharmaceuticals Limited
- Dr. Reddy’s Laboratories
- Aurobindo Pharma Limited
- Matrix
Laboratories Limited
- Ranbaxy
Laboratories Limited
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. 46.97 |
|
|
1 |
Rs. 74.21 |
|
Euro |
1 |
Rs. 63.66 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.