|
Report Date : |
16.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
KREMOINT PHARMA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.B-8, Additional Ambernath, M.I.D.C., |
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation
: |
12.05.1992 |
|
|
|
|
Com. Reg. No.: |
11-066737 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.600 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1992PTC066737 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMK05289E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Pharmaceuticals Products |
|
|
|
|
No. of Employees
: |
90 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 100000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record.
Financial details of the company is missing from government department. However,
trade relations are reported to be fair. Business is active. Payments are
reported to be unknown. The company can be considered for business dealing with some cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Ms. Madhuri |
|
Designation : |
Manager |
|
Contact No.: |
91-251-2620273 |
|
Date : |
12.07.2012 |
LOCATIONS
|
Registered Office / Factory : |
Plot No.B-8, Additional Ambernath, M.I.D.C., Opposite Main Road, Anand
Nagar Police Check Post, Ambernath (East), Mumbai-421506, Maharashtra, India |
|
Tel. No.: |
91-251-2620273 / 355 / 655 / 2621363 / 64 / 67 / 2620655 / 2620355 |
|
Fax No.: |
91-251-2621363 / 365 / 367 / 2620273 / 355 / 655 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
12000 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Warehouse : |
D-59 / D-60, Additional Ambernath, M.I.D.C, Ambernath (East),
Mumbai-421506, Maharashtra, India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Bhadresh Keshavji Thakkar |
|
Designation : |
Director |
|
Address : |
151/5 Shree Krishna Nagar, Garodia Nagar, Ghatkopar, Mumbai – 400 077,
|
|
Date of Birth/Age : |
07.12.1964 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
12.05.1992 |
|
DIN No.: |
00774787 |
|
|
|
|
Name : |
Mr. Ashwin Keshavji Thakkar |
|
Designation : |
Director |
|
Address : |
E 405/406, |
|
Date of Birth/Age : |
17.07.1960 |
|
Qualification : |
B. Tech |
|
Date of Appointment : |
12.05.1992 |
|
Date of Cessation : |
29.06.2012 |
|
DIN No.: |
00774807 |
|
|
|
|
Name : |
Mr. S. N. Kamath |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Ms. Madhuri |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Ashwin K Thakkar |
1410 |
|
Bhadresh Thakkar |
1990 |
|
Jyoti Ashwain Thakkar |
660 |
|
Hema Bhadresh Thakkar |
1210 |
|
Monil Ashwin Thakkar |
730 |
|
TOTAL
|
6000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pharmaceuticals Products |
|
|
|
|
Products : |
·
Ointments and Cream and Gel Formulations ·
Burns and Antiseptic Formulations ·
Pharmaceutical Formulations ·
Analgesic Formulations ·
Antiseptic / Antibactrial
Formulations ·
Antifunagal Formulations ·
Acne Pimples Formulations ·
Corticosteroid / Antibactrial
Formulations ·
Corticosteroid/Antibactrial/Antifungal
Formulation |
|
|
|
|
Exports : |
|
|
Countries : |
UK |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
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|
|
|
Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers |
|||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||
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No. of Employees : |
90 (Approximately) |
|||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||
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Bankers : |
·
The Bharat Co Operative Bank (Mumbai) Limited Ghatkopar (West) Branch, 103 to 106, Jyoti
Chambers, 1st Floor, Junction of J V Road, and Hirachand Desai
Road, Mumbai - 400 086, Maharashtra, India
·
Kotak Mahindra Bank ·
HDFC Bank |
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N M Associates Chartered Accountant |
|
Address : |
1, Tarlika, Ground Floor, |
|
Tel. No.: |
91-22-24141274 / 24144110 |
|
Pan No.: |
AAAFN1489L |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24000 |
Equity Shares |
Rs.100/- each |
Rs. 2.400 Millions |
|
1000 |
Preference Shares |
Rs.100/- each |
Rs. 0.100 Million |
|
|
TOTAL |
|
Rs. 2.500 Millions
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000 |
Equity Shares |
Rs.100/-
each |
Rs. 0.600
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2008 |
||
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.600 |
0.600 |
0.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
26.857 |
22.629 |
20.069 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
27.457 |
23.229 |
20.669 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6.203 |
9.334 |
4.185 |
|
|
2] Unsecured Loans |
11.879 |
10.880 |
8.879 |
|
|
TOTAL BORROWING |
18.082 |
20.214 |
13.064 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
45.539 |
43.443 |
33.733 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
24.704 |
24.599 |
24.260 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.100 |
0.225 |
0.225 |
|
|
DEFERREX TAX ASSETS |
0.054 |
0.216 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
15.009
|
11.153 |
7.860 |
|
|
Sundry Debtors |
10.152
|
14.893 |
9.388 |
|
|
Cash & Bank Balances |
0.253
|
0.081 |
0.121 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
13.250
|
6.836 |
4.617 |
|
Total
Current Assets |
38.664
|
32.963 |
21.986 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.552
|
8.143 |
7.281 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
9.431
|
6.417 |
5.457 |
|
Total
Current Liabilities |
17.983
|
14.560 |
12.738 |
|
|
Net Current Assets |
20.681
|
18.403 |
9.248 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
45.539 |
43.443 |
33.733 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.208 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
6.225 |
3.891 |
3.601 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.823 |
1.155 |
0.980 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4.402 |
2.736 |
2.621 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.150 |
0.150 |
0.150 |
|
|
|
Dividend Distribution Tax |
0.025 |
0.025 |
0.025 |
|
|
|
Transfer to General Reserve |
0.100 |
0.100 |
0.100 |
|
|
BALANCE CARRIED
TO THE B/S |
4.127 |
2.461 |
2.346 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
733.67 |
-- |
-- |
|
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
170.000 |
100.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs. 250.000 Millions
The above information has been parted by Ms. Madhuri.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.208 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.82
|
6.73 |
7.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.17 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.31
|
1.50 |
1.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.15
|
2.26 |
1.72 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions 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 |
Yes |
|
10. Designation of contact person |
Yes |
|
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 |
Yes |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
No |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
Yes |
|
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 |
Yes |
NOTE
Registered office has been shifted from Shree Krishna Darshan, 151/5
Garodia Nagar, Ghatkopar (East), Mumbai 400 077, Maharashtra, India to the
present address w.e.f. 02.07.2012.
FORM 8
|
Corporate
identity number of the company |
U24230MH1992PTC066737 |
|
Name of the
company |
KREMOINT PHARMA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Shree Krishna Darshan, 151/5 Garodia Nagar, Ghatkopar (East), Mumbai 400
077, |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Any
interest in immovable property ·
Book
debts ·
Movable
property (not being pledge) ·
Others |
|
Particular of
charge holder |
The Bharat Co Operative Bank (Mumbai) Limited Ghatkopar (West) Branch, 103 to 106, Jyoti Chambers, 1st
Floor, Junction of J V Road, and Hirachand Desai Road, Mumbai - 400 086,
Maharashtra, India |
|
Nature of
instrument creating charge |
1) Memorandum of
Entry Recording the deposit and Continuation of Deposit of Title Deeds. 2) Agreement for
Hypothecation of Tangible Moveable Property. 3) Agreement for
Creating Charge on Book Debts (All the above
documents constitute a single charge) |
|
Date of instrument
Creating the charge |
11.10.2011 |
|
Amount secured by
the charge |
Rs. 44.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest @ 13.50%
p.a or such other rate as agreed between the borrower company and the bank
from time to time. Penal Interest,
as agreed between the borrower company and the bank from time to time. Terms of repayment Repayment, as
agreed between the borrower company and the bank from time to time. Margin Margin Rate, as
agreed between the borrower company and the bank from time to time. Extent and operation of the charge At the request of
the borrower company, the bank has sanctioned Term Loan of Rs. 44.000
Millions against Hypothecation of Stocks, book debts and Mortgage of
Leasehold Rights of Plot No. B-8, Adm. 1140 meters in the Additional
Ambernath Industrial Area, Village Limits : Ambernath, Taluka and
Registration Sub-District Ulhasnagar, Thane, MIDC, Ambernath (East), Thane
and Piece and Parcel of Land known as Plot No D 59, D 60 situated at
Additional Ambernath Industrial Area, Thane. |
|
Short particulars
of the property charged (Including location of the property) |
Mortgage of Leasehold
Rights of Plot No. B-8, Adm. 1140 meters in the Additional Ambernath
Industrial Area, Village Limits : Ambernath, Taluka and Registration
Sub-District Ulhasnagar, Thane Mortgage of Piece
and Parcel of Land known as Plot No D 59, D 60 situated at Additional
Ambernath Industrial Area, Thane. Hypothecation of
Stocks and Book Debts |
FIXED ASSETS
·
Furniture
·
Computer
·
Land and Building
·
Plant and Machinery
·
Office Equipments
·
Mobile Phones
·
Air Conditioner
·
Security Systems
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 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. 55.65 |
|
|
1 |
Rs. 85.88 |
|
Euro |
1 |
Rs. 67.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
36 |
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.