|
Report Date : |
09.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
UNIKARE PHARMA ENGINEERS |
|
|
|
|
Registered
Office : |
11/1B and 12/ B, Marquis Street, Kolkata – 700016, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 (Provisional) |
|
|
|
|
Year of
Establishment : |
1997 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.719 Millions |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Manufacturer of GMP Standard Pharmaceuticals, Chemicals and Allied
Machines. |
|
|
|
|
No. of Employees
: |
50 (Approximately) (Office – 40 and Factory – 10) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established proprietory concern having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered/ Head Office : |
11/1B and 12/ B, Marquis Street, Kolkata – 700016, West Bengal,
India |
|
Tel. No.: |
91-33-22523449/ 22529552 |
|
Fax No.: |
91-33-22529552 |
|
E-Mail : |
|
|
Area : |
1500 sq. ft. |
|
|
|
|
Factory/ Godown : |
NH6, Vill: Panchla Thana Road, Panchla Howrah – 711322, West Bengal,
India |
|
Area : |
1000 sq. ft. |
|
|
|
|
Branch Office : |
Located at: · Delhi · Mumbai · Bangalore · Ranchi · Nepal · Bangladesh |
SOLE PROPRIETOR
|
Name : |
Mr. Mahbob Rahaman |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
19.09.1949 |
|
Qualification : |
BSC Graduate |
|
Experience : |
40 years |
|
PAN No.: [Permanent Account No.] |
BBQPR3670F |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of GMP Standard Pharmaceuticals, Chemicals and Allied
Machines. |
PRODUCTION STATUS
|
Particulars |
Capacity in case of Manufacturer |
Initial date of production/ Commencement of
Services |
|
|
|
|
|
Pharmaceutical Machinery |
3 Nos. |
01.02.1964 |
|
Water Purification Plant |
3 Nos. |
01.02.1964 |
|
Chemical Plant Machinery and Equipment |
3 Nos. |
01.02.1964 |
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
50 (Approximately) (Office – 40 and Factory – 10) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
Dena Bank |
|||||||||||||||||||||||||||
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rabrindra Nath Bardhan Chartered Accountant |
|
Address : |
15/15, Banerjee Para Road, Kolkata – 700061, Wet Bengal, India |
CAPITAL STRUCTURE
CAPITAL ACCOUNT AS ON 31.03.2012
|
Particulars |
(Rs. In Millions) |
|
|
|
|
Balance as per
last account |
6.410 |
|
Add: Capital
Introduced |
3.500 |
|
Add: Profit for
the year |
0.981 |
|
|
10.891 |
|
Less: Drawings |
0.172 |
|
|
|
|
Total |
10.719 |
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note: Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 (Provisional) |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.719 |
6.410 |
4.869 |
|
|
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 |
10.719 |
6.410 |
4.869 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
2.000 |
2.000 |
|
|
TOTAL BORROWING |
0.000 |
2.000 |
2.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10.719 |
8.410 |
6.869 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.731 |
0.856 |
1.004 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.564
|
8.058 |
5.836 |
|
|
Sundry Debtors |
8.527
|
3.985 |
3.310 |
|
|
Cash & Bank Balances |
0.371
|
0.103 |
0.082 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.700
|
0.000 |
0.000 |
|
Total
Current Assets |
16.162
|
12.146 |
9.228 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
6.023
|
4.467 |
3.267 |
|
|
Other Current Liabilities |
0.000
|
0.125 |
0.096 |
|
|
Provisions |
0.151
|
0.000 |
0.000 |
|
Total
Current Liabilities |
6.174
|
4.592 |
3.363 |
|
|
Net Current Assets |
9.988
|
7.554 |
5.865 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10.719 |
8.410 |
6.869 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 (Provisional) |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
52.500 |
39.156 |
31.676 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
52.500 |
39.156 |
31.676 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
48.558 |
36.231 |
29.051 |
|
|
|
Carriage Inward |
0.430 |
0.375 |
0.339 |
|
|
|
Labour Charges |
0.610 |
0.575 |
0.521 |
|
|
|
Salaries and Bonus |
0.425 |
0.395 |
0.360 |
|
|
|
Accounting Charges |
0.072 |
0.084 |
0.074 |
|
|
|
Telephone Charges |
0.080 |
0.082 |
0.074 |
|
|
|
Travelling and Conveyance |
0.250 |
0.268 |
0.242 |
|
|
|
Electric Charges |
0.098 |
0.049 |
0.044 |
|
|
|
Repairs and Maintenance |
0.025 |
0.067 |
0.061 |
|
|
|
Business Promotion |
0.425 |
0.287 |
0.272 |
|
|
|
Rent, Rates and Taxes |
0.002 |
0.062 |
0.061 |
|
|
|
General Expenses |
0.050 |
0.059 |
0.056 |
|
|
|
Other Expenses |
0.368 |
0.032 |
0.026 |
|
|
|
TOTAL |
51.393 |
38.566 |
31.181 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.107 |
0.590 |
0.495 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.126 |
0.148 |
0.174 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
0.981 |
0.442 |
0.321 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 (Provisional) |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.87
|
1.13 |
1.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.87
|
1.13 |
1.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.81
|
3.40 |
3.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.07 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.58
|
1.03 |
1.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.62
|
2.65 |
2.74 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
------------------------------------------------------------------------------------------------------------------------------
BALANCE
SHEET
(RS.
IN MILLIONS)
|
SOURCES OF FUNDS |
|
31.03.2013 (Estimated) |
31.03.2014 (Projected) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
12.634 |
15.222 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
12.634 |
15.222 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
12.500 |
12.500 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
12.500 |
12.500 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
25.134 |
27.722 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.624 |
0.532 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
12.500 |
15.200 |
|
|
Sundry Debtors |
|
12.148 |
12.430 |
|
|
Cash & Bank Balances |
|
0.433 |
0.481 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
1.000 |
1.500 |
|
Total
Current Assets |
|
26.081 |
29.611 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
0.970 |
1.130 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
0.601 |
1.291 |
|
Total
Current Liabilities |
|
1.571 |
2.421 |
|
|
Net Current Assets |
|
24.510 |
27.190 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
25.134 |
27.722 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 (Estimated) |
31.03.2014 (Projected) |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
65.500 |
73.300 |
|
|
|
Other Income |
|
0.000 |
0.000 |
|
|
|
TOTAL |
|
65.500 |
73.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
57.565 |
63.790 |
|
|
|
Carriage Inward |
|
0.850 |
1.050 |
|
|
|
Labour Charges |
|
1.300 |
1.500 |
|
|
|
Salaries and Bonus |
|
0.530 |
0.760 |
|
|
|
Accounting Charges |
|
0.072 |
0.072 |
|
|
|
Telephone Charges |
|
0.087 |
0.093 |
|
|
|
Travelling and Conveyance |
|
0.280 |
0.340 |
|
|
|
Electric Charges |
|
0.105 |
0.133 |
|
|
|
Repairs and Maintenance |
|
0.029 |
0.034 |
|
|
|
Business Promotion |
|
0.510 |
0.540 |
|
|
|
Rent, Rates and Taxes |
|
0.002 |
0.002 |
|
|
|
General Expenses |
|
0.055 |
0.061 |
|
|
|
Other Expenses |
|
1.908 |
2.034 |
|
|
|
TOTAL |
|
63.293 |
70.409 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
2.207 |
2.891 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.107 |
0.091 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
2.100 |
2.800 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 (Estimated) |
31.03.2014 (Projected) |
|
PAT / Total Income |
(%) |
|
3.21 |
3.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
3.21 |
3.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
7.86 |
9.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
1.67 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.11 |
0.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
16.60 |
12.23 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT
OF FINANCIAL REQUIREMENT
OPERATING STATEMENT
(RS.
IN MILLIONS)
|
Particulars |
2013 |
2014 |
|
|
(Estimated) |
(Projected) |
|
|
|
|
|
Gross Sales |
|
|
|
Domestic Sales |
65.500 |
73.300 |
|
Export Sales |
0.000 |
0.000 |
|
Total |
65.500 |
73.300 |
|
|
|
|
|
Less: Excise Duty |
0.000 |
0.000 |
|
|
|
|
|
Net Sales |
65.500 |
73.300 |
|
|
|
|
|
%age rise/ fall in net sales as compared to previous year |
25% |
12% |
|
|
|
|
|
Cost of Sales |
|
|
|
Raw Materials (Including Stores and Other Items used in the process of
Manufacturer) |
|
|
|
Imported |
0.000 |
0.000 |
|
Indigenous |
61.839 |
65.734 |
|
|
|
|
|
Other Spares/ Carriage |
0.000 |
0.000 |
|
Power and Fuel |
0.105 |
0.133 |
|
Direct Labour (Factory, wages and salaries) |
1.830 |
2.260 |
|
Repairs and Maintenance |
0.000 |
0.000 |
|
Other Manufacturing Expenses |
0.850 |
1.050 |
|
Depreciation |
0.107 |
0.091 |
|
|
|
|
|
Sub – Total |
64.731 |
69.268 |
|
|
|
|
|
Add: Opening Stocks in Process |
0.985 |
1.875 |
|
|
|
|
|
Total |
65.716 |
71.143 |
|
|
|
|
|
Deduct: Closing Stocks in Process |
1.875 |
2.280 |
|
|
|
|
|
Cost of
Production |
63.841 |
68.863 |
|
|
|
|
|
Add: Opening Stock of Finished Goods |
3.741 |
7.125 |
|
|
|
|
|
Sub Total |
67.582 |
75.988 |
|
|
|
|
|
Deduct: Closing Stock of Finished Goods |
7.125 |
8.664 |
|
|
|
|
|
Sub Total (Total Cost of
Sales) |
60.457 |
67.324 |
|
|
|
|
|
General, Administrative and selling Expenses |
1.568 |
1.801 |
|
|
|
|
|
Sub- Total |
62.025 |
69.125 |
|
|
|
|
|
Operating Profit before Interests |
3.475 |
4.175 |
|
|
|
|
|
Interests |
1.375 |
1.375 |
|
|
|
|
|
Operating Profit After Interests |
2.100 |
2.800 |
|
|
|
|
|
Net of Other
non-operating income/ Expenses |
0.000 |
0.000 |
|
|
|
|
|
Profit before tax |
2.100 |
2.800 |
|
|
|
|
|
Provision for taxes |
0.450 |
0.690 |
|
|
|
|
|
Net Profit/ loss |
1.650 |
2.110 |
|
|
|
|
|
Retained Profit |
1.650 |
2.110 |
|
|
|
|
|
Retained Profit/ Net profit (%) |
100% |
100% |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS
OF BALANCE SHEET
(RS.
IN MILLIONS)
|
Particulars |
2013 |
2014 |
|
|
(Estimated) |
(Projected) |
|
LIABILITIES |
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
Short term borrowings banks (Including bills purchased, discounted and
excess borrowing placed on repayment basis) |
|
|
|
- From Applicant Bank |
12.500 |
12.500 |
|
- From Other Banks |
0.000 |
0.000 |
|
(Of which BP and BD) |
|
|
|
|
|
|
|
Sub Total (A) |
12.500 |
12.500 |
|
|
|
|
|
Short Term borrowing- others |
0.000 |
0.000 |
|
Sundry Creditors |
0.840 |
0.970 |
|
Advance/ Progress Payments from Customers/ deposits from Dealers, Selling
agents |
0.000 |
0.000 |
|
Provision for taxation |
0.601 |
1.291 |
|
Other Statutory Liabilities (Due within one year) |
0.130 |
0.160 |
|
Deposits / Installments of Term Loans DPGs/ Debentures/ ECB/ ADR/ GDR
(Due Within One Year) |
0.000 |
0.000 |
|
Other Current Liabilities |
0.000 |
0.000 |
|
|
|
|
|
SUB TOTAL (B) |
1.571 |
2.421 |
|
|
|
|
|
TOTAL CURRENT
LIABILITIES |
14.071 |
14.921 |
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
|
|
Debentures |
0.000 |
0.000 |
|
|
|
|
|
Creditors for Capital Goods |
0.000 |
0.000 |
|
|
|
|
|
Term Loan |
0.000 |
0.000 |
|
|
|
|
|
Deferred sales Tax liabilities |
0.000 |
0.000 |
|
|
|
|
|
Term Deposits |
0.000 |
0.000 |
|
|
|
|
|
Other Term Liabilities |
0.000 |
0.000 |
|
|
|
|
|
TOTAL TERM
LIABILITIES |
0.000 |
0.000 |
|
|
|
|
|
TOTAL OUTSIDE
LIABILITIES |
14.071 |
14.921 |
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
Ordinary Share Capital |
12.634 |
15.222 |
|
Share Deposits |
0.000 |
0.000 |
|
Reserve and Surplus |
0.000 |
0.000 |
|
Share Premium |
0.000 |
0.000 |
|
Capital Redemption Reserve |
0.000 |
0.000 |
|
Surplus (+) Deficit (-) in Profit and Loss A/c |
0.000 |
0.000 |
|
|
|
|
|
TOTAL NET WORTH |
12.634 |
15.222 |
|
|
|
|
|
TOTAL
LIABILITIES |
26.705 |
30.143 |
|
|
|
|
|
ASSETS |
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
Cash and bank balances |
0.433 |
0.481 |
|
|
|
|
|
Investment |
|
|
|
- Receivables |
12.148 |
12.429 |
|
- Export Receivables |
0.000 |
0.000 |
|
|
|
|
|
INVENTORY |
|
|
|
|
|
|
|
Raw Materials (Indigenous) |
3.500 |
4.256 |
|
Stock in Process |
1.875 |
2.280 |
|
Finished Goods |
7.125 |
8.664 |
|
Other Consumable Spares |
0.000 |
0.000 |
|
Advance Payment of Taxes |
1.000 |
1.500 |
|
Other Current Assets |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
CURRENT ASSETS |
26.081 |
29.610 |
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
|
|
|
Gross Block |
1.382 |
1.382 |
|
|
|
|
|
Depreciation to date |
0.758 |
0.849 |
|
|
|
|
|
Net Block |
0.624 |
0.533 |
|
|
|
|
|
OTHER NON
CURRENT ASSETS |
|
|
|
|
|
|
|
Investment/ Book Debts Advance Deposits, which are not current Assets |
0.000 |
0.000 |
|
Long term investments (In Subsidiaries) |
0.000 |
0.000 |
|
Other non Current assets |
0.000 |
0.000 |
|
|
|
|
|
TOTAL OTHER NON
CURRENT ASSETS |
0.000 |
0.000 |
|
|
|
|
|
Intangible Assets |
0.000 |
0.000 |
|
|
|
|
|
TOTAL ASSETS |
26.705 |
30.143 |
|
|
|
|
|
Tangible Net worth |
12.634 |
15.222 |
|
|
|
|
|
Net Working Capital |
12.010 |
14.689 |
|
|
|
|
|
Current Ratio |
1.85 |
1.98 |
|
|
|
|
|
Total Outside Liabilities/ Tangible Net
worth |
0.97 |
0.98 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE
STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
(RS. IN MILLIONS)
|
Particulars |
2013 |
2014 |
|
|
(Estimated) |
(Projected) |
|
Raw Materials (Including Stores, and Other
Items used in the Process of Manufacture)
|
|
|
|
[a] Imported |
0.000 |
0.000 |
|
Months Consumption |
-- |
-- |
|
[b] Indigenous |
3.500 |
4.256 |
|
Months Consumption |
0.68 |
0.78 |
|
|
|
|
|
Other consumable spares, Excluding those
included 1 above |
|
|
|
[a] Imported |
0.000 |
0.000 |
|
Months Consumption |
-- |
-- |
|
[b] Indigenous |
0.000 |
0.000 |
|
Months Consumption |
-- |
-- |
|
|
|
|
|
Stock in process |
1.875 |
2.280 |
|
Months cost of production |
0.35 |
0.40 |
|
|
|
|
|
Finished goods |
7.125 |
8.664 |
|
Months cost of sales |
1.41 |
1.54 |
|
|
|
|
|
Receivable other than export and deferred receivables
[including bills purchased and discounted by bankers] |
12.148 |
12.429 |
|
Months domestic sales |
2.23 |
2.03 |
|
|
|
|
|
Export receivables [including bills
purchased and discounted by bankers months export sales] |
0.000 |
0.000 |
|
|
|
|
|
Advances to suppliers of raw materials and
stores/ spares consumable |
1.000 |
1.500 |
|
|
|
|
|
Other current Assets including cash and bank
balances and deferred receivable due within one year |
0.433 |
0.481 |
|
|
|
|
|
TOTAL CURRENT ASSETS |
26.081 |
29.610 |
|
|
|
|
|
B CURRENT LIABILITIES |
|
|
|
[Other than bank borrowing for working
capital] |
|
|
|
|
|
|
|
Creditors for purchases of raw materials and
stores and consumable spares |
0.840 |
0.970 |
|
Months Purchases |
0.16 |
0.18 |
|
|
|
|
|
Credit for than Suppliers |
0.000 |
0.000 |
|
|
|
|
|
Advances from customers |
0.000 |
0.000 |
|
|
|
|
|
Statutory liabilities |
0.130 |
0.160 |
|
|
|
|
|
Other current liability including short term
borrowing dividend payable, installment of DPG public deposit, debentures etc
|
0.601 |
1.291 |
|
|
|
|
|
TOTAL |
1.571 |
2.421 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS IN MILLIONS)
|
Particulars |
2013 |
2014 |
|
|
(Estimated) |
(Projected) |
|
FIRST METHOD OF LENDING |
|
|
|
|
|
|
|
Total Current Assets |
26.081 |
29.610 |
|
|
|
|
|
Other Current Liabilities (Other than bank borrowings) |
1.571 |
2.421 |
|
|
|
|
|
Working Capital Gap (WCG) |
24.510 |
27.189 |
|
|
|
|
|
Minimum stipulated net working capital i.e.
25% of WCG/ 25% of total current assets as the case may be depending upon the
method of lending being applied (Export receivables to be excluded under both
methods) |
6.128 |
6.797 |
|
|
|
|
|
Actual / projected net working capital |
12.010 |
14.689 |
|
|
|
|
|
Item 3 minus item 4 |
18.383 |
20.392 |
|
|
|
|
|
Item 3 minus item 5 |
12.500 |
12.500 |
|
|
|
|
|
Maximum permissible bank finance (Item 6 or 7 whichever is lower) |
12.500 |
12.500 |
|
|
|
|
|
Excess Borrowing Representing Short falling
NWC |
(5.883) |
(7.892) |
|
|
|
|
|
|
|
|
|
SECOND METHOD OF LENDING |
|
|
|
|
|
|
|
Total Current Assets |
26.081 |
29.610 |
|
|
|
|
|
Other Current Liabilities (Other than bank borrowings) |
1.571 |
2.421 |
|
|
|
|
|
Working Capital Gap (WCG) |
24.510 |
27.189 |
|
|
|
|
|
Minimum stipulated net working capital i.e.
25% of WCG/ 25% of total current assets as the case may be depending upon the
method of lending being applied (Export receivables to be excluded under both
methods) |
6.520 |
7.403 |
|
|
|
|
|
Actual / projected net working capital |
12.010 |
14.689 |
|
|
|
|
|
Item 3 minus item 4 |
17.990 |
19.787 |
|
|
|
|
|
Item 3 minus item 5 |
12.500 |
12.500 |
|
|
|
|
|
Maximum permissible bank finance (Item 6 or 7 whichever is lower) |
12.500 |
12.500 |
|
|
|
|
|
Excess Borrowing Representing Short falling
NWC |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
FUND
FLOW STATEMENT
(RS.
IN MILLIONS)
|
Particulars |
2012-13 |
2013-14 |
|
|
(Estimated) |
(Projected) |
|
SOURCES |
|
|
|
Net Profit |
1.650 |
2.110 |
|
Depreciation |
0.107 |
0.091 |
|
Increase in Capital |
1.915 |
2.588 |
|
Increase in Term Liabilities (Including Public Deposits) |
0.000 |
0.000 |
|
Decrease in |
|
|
|
-
Fixed Assets |
0.000 |
0.000 |
|
-
Other Non Current Assets |
0.000 |
0.000 |
|
Others |
0.000 |
0.000 |
|
|
|
|
|
Total |
3.672 |
4.789 |
|
|
|
|
|
USES |
|
|
|
|
|
|
|
Net Loss |
0.000 |
0.000 |
|
Decrease in Term Liabilities (Including Public Deposit) |
0.000 |
0.000 |
|
Increase in |
|
|
|
-
Fixed Assets |
0.000 |
0.000 |
|
-
Other Non Current Assets |
0.000 |
0.000 |
|
Dividend Payments |
0.000 |
0.000 |
|
Others |
1.650 |
2.110 |
|
|
|
|
|
Total |
1.650 |
2.110 |
|
|
|
|
|
Long Term Surplus(+)/ Deficit (-) |
2.022 |
2.679 |
|
Increase/ Decrease in current assets |
9.920 |
3.529 |
|
Increase/ Decrease in current liabilities other than bank borrowing |
(4.602) |
0.850 |
|
Increase/ Decrease in working capital gap |
14.522 |
2.679 |
|
Net Surplus/ Deficit |
(12.500) |
0.000 |
|
Increase/ Decrease in bank Borrowing |
12.500 |
-- |
|
Increase/ Decrease in Net Sales |
13.000 |
7.800 |
|
|
|
|
|
Break up of
item-4 |
|
|
|
Increase/ Decrease in Raw Materials |
0.000 |
0.000 |
|
Increase/ Decrease in Stock-in-process |
0.000 |
0.000 |
|
Increase/ Decrease in Finished Goods |
0.000 |
0.000 |
|
Increase/ Decrease in receivable |
|
|
|
-
Domestic |
3.622 |
0.281 |
|
-
Export |
0.000 |
0.000 |
|
Increase/ Decrease in Stores and Spares |
0.000 |
0.000 |
|
Increase/ Decrease in Other Current Assets |
6.298 |
3.248 |
|
Total |
9.920 |
3.529 |
------------------------------------------------------------------------------------------------------------------------------
(RS IN MILLIONS)
|
Particulars |
2012-13 |
2013-14 |
|
|
(Estimated) |
(Projected) |
|
|
|
|
|
Total Operating Income (TOI) |
65.500 |
73.300 |
|
EBIDTA |
3.582 |
4.266 |
|
EBIDTA/ TOI (%) |
5.47% |
5.82% |
|
Interests |
1.375 |
1.375 |
|
Depreciation |
0.107 |
0.091 |
|
Operating Profit After Depreciation and
Interests |
2.100 |
2.800 |
|
Non Operating Income/ Expenses |
-- |
-- |
|
PBT |
2.100 |
2.800 |
|
PAT |
1.650 |
2.110 |
|
PAT/ TOI (%) |
2.52% |
2.88% |
|
Net Cash Accruals (NCA) |
1.757 |
2.201 |
|
Net Fixed Assets |
0.624 |
0.533 |
|
Tangible Networth (TNW) |
12.634 |
15.222 |
|
Exposure in Group Company / Subsidiary |
|
|
|
Group Investment |
-- |
-- |
|
Adjusted TNW (ATNW) |
12.634 |
15.222 |
|
Long Term Debt (LTD) |
-- |
-- |
|
Short Term Debt (STD) |
-- |
-- |
|
Working Capital Bank Finance |
12.500 |
12.500 |
|
Total Debt |
12.500 |
12.500 |
|
Total Debts/ TNW |
0.99 |
0.82 |
|
LTD/ TNW |
-- |
-- |
|
TOL/ TNW |
0.97 |
0.98 |
|
TOL/ ATNW |
0.97 |
0.98 |
|
Total Current Assets |
26.081 |
29.610 |
|
Total Current Liabilities |
14.071 |
14.921 |
|
Net Working Capital |
12.010 |
14.690 |
|
Current Ratio |
1.85 |
1.98 |
|
ROCE (%) |
13.83% |
15.06% |
|
Interests Coverage Ratio |
4.01 |
3.10 |
|
Total Debt/ Net Cash Accrual |
7.11 |
5.68 |
|
DSCR |
2.61 |
3.10 |
FUND FLOW ANALYSIS
|
Particulars |
2012-13 |
2013-14 |
|
|
(Estimated) |
(Projected) |
|
|
|
|
|
Long Term Sources |
3.672 |
4.789 |
|
Long Term Uses |
1.650 |
2.110 |
|
Surplus/ Deficit |
2.022 |
2.679 |
|
Surplus/ Incremental Build up |
20.38% |
75.9% |
PATTERN OF TCA
FUNDING
|
Particulars |
2012-13 |
2013-14 |
|
|
(Estimated) |
(Projected) |
|
|
|
|
|
Sundry Creditors |
3.22% |
3.28% |
|
Other Current Liabilities |
2.80% |
4.90% |
|
Bank Borrowings |
47.93% |
42.22% |
|
Long Term Funds |
-- |
-- |
|
Total |
-- |
-- |
ADDITIONAL
FINANCIAL AND RATIOS
|
Particulars |
2012-13 |
2013-14 |
|
|
(Estimated) |
(Projected) |
|
|
|
|
|
Dividend / PAT (%) |
-- |
-- |
|
Gross Fixed Assets |
1.382 |
1.382 |
|
Paid up Capital |
12.634 |
15.222 |
|
DFS/ TNW |
0.99 |
0.82 |
|
Total Debt/ TNW |
0.99 |
0.82 |
CHECK BOX
|
Different in Increase in TNW |
|
|
|
1. Retained Profit |
0.265 |
0.478 |
|
2. Tax Provision/ PBT |
21.43% |
24.64% |
------------------------------------------------------------------------------------------------------------------------------
COMPANY PROFILE:
They take the opportunity to introduce as a
manufacturer
of Packaging Machineries such as Automatic Liquid Filling and Packaging Line,
Inject able Machineries such as Jet Type Ampoule cum Vial Washing Machine,
Ampoule Filling and Sealing Machine, Automatic Vial Filling and Sealing Machine
including other allied machinery since last four decades. They started up to
the demand of various industries not only in India but also in the South East
Asia as they have kept pace with the day to day technological changing
scenario.
Most of the
namable Pharmaceutical companies and Mineral Water I Packaged Drinking
Water/ Food and Beverages/ Distilleries manufacturing industries are equipped
with their Processing and Automatic High Speed Filling, Capping, and Labeling
and Batch Printing machines.
All the above
highly sophisticated Semi Automatic machines and Automatic machines are
manufactured in a state of the art factory at Howrah ,West Bengal and a special
research and development wing comprising of qualified engineers are totally
dedicated to work up to the international standard and specification.
Customer Support Engineers
are stationed at all metro cities to render the prompt and the best After Sales
Service, the moment deserve it.
ABOUT CONCERN
|
Future Projects |
Auto pet bottle Manufacturing Plant from Pet Granules. |
|
|
|
|
Finance Required (Proposed) |
Cash Credit Loan Rs.12.500 Millions |
|
|
|
|
Primary Security |
Hypothecation of Stock and Book Debts |
|
|
|
|
Collateral Security |
Land and Building admeasuring are 70 satak or 42 cottahs or 30.240 sq.
ft. located at Mouza-Beldubi R.S. Dag No.384, Khatian No.61, J. L. No.30, P.
S. Panchla District Howrah approx. Market value Rs.13.000 Millions |
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.55.15 |
|
|
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.68.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.