MIRA
INFORM REPORT
|
Report Date : |
18.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
BASIC PHARMA LIFE SCIENCE PRIVATE LIMITED |
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Registered
Office : |
Plot No.146/B, GIDC Estate, Opposite Fire Fighter Station, Ankleshwar
– 393 002, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
20.06.2005 |
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Com. Reg. No.: |
04-046278 |
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Capital
Investment / Paid-up Capital : |
Rs.3.484
Millions |
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|
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CIN No.: [Company Identification
No.] |
U24230GJ2005PTC046278 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BRDB01634D |
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PAN No.: [Permanent Account No.] |
AACCB7672G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Bulk Drugs, Drug Intermediates and Fine
Chemicals. |
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No. of Employees
: |
50 (Approximately) |
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 |
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Maximum Credit Limit : |
USD 57000 |
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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 an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
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 (30.09.2011) |
Current Rating (31.12.2011) |
|
|
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 |
INFORMATION PARTED BY
|
Name : |
Mr. Paresh Madhavjibhai Vaghasia |
|
Designation : |
Director |
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Contact No.: |
91-9825056886 |
|
Date : |
16.07.2012 |
LOCATIONS
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Registered Office/ Factory : |
Plot No.146/B, GIDC Estate, Opposite Fire Fighter Station, Ankleshwar
– 393 002, |
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Tel. No.: |
91-2646-645714/ 226037 |
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Mobile No.: |
91-9825056886 (Mr. Paresh Madhavjibhai Vaghasia) |
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Tele Fax No.: |
91-2646-226037 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Paresh Madhavjibhai Vaghasia |
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Designation : |
Director |
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Address : |
Block No.28, Manorath CHS, GIDC Estate, Ankleshwar – 393 002, |
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Date of Appointment : |
20.06.2005 |
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DIN No.: |
00375578 |
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Other Directorship :
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Name : |
Mr. Mahesh Rajabhai Vekaria |
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Designation : |
Director |
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Address : |
Block No.1320, Behind GIL Colony, GIDC New Colony, Anklewshwar – 393
002, |
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Date of Appointment : |
20.06.2005 |
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DIN No.: |
00375493 |
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Other Directorship :
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Name : |
Mr. Mukesh Devrajbhai Thummar |
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Designation : |
Director |
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Address : |
Block No.28, Manorath CHS, GIDC Estate, Ankleshwar – 393 002, |
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Date of Appointment : |
20.06.2005 |
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DIN No.: |
00375546 |
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Other Directorship :
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Name : |
Mr. Nileshkumar Shantilal Gondaliya |
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Designation : |
Director |
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Address : |
40/246, Near Gatu Vidhyalaya, GIDC New Colony, Ankleshwar – 393 002, |
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Date of Appointment : |
20.06.2005 |
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DIN No.: |
00375608 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
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No. of Shares |
|
Paresh Vaghasla |
|
87103 |
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Mahesh Vekaria |
|
87103 |
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Nilesh S. Gondaliya |
|
87102 |
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Mukesh Thummar |
|
87102 |
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Total |
|
348410 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Bulk Drugs, Drug Intermediates and Fine
Chemicals. |
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Products : |
v Chlorhexidine Base v Chlorhexidine Gluconate 20% Solution v Chlorhexidine Hydrochloride v Chlorhexidine Acetate v Cetrimide Powder v Cetrimide Strong 40% Solution v Amlodipine Besilate v Glibenclamide v Cetyl Pyridinium Chloride v Proguanil Hydrochloride v Niclosamide |
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Exports : |
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Products : |
Bulk Drugs, Drug Intermediates and Fine Chemicals |
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Countries : |
v
v
v
v
v
v
v
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Imports : |
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Products : |
Raw Materials |
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Countries : |
v
v
v
v
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Terms : |
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Selling : |
Depends |
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Purchasing : |
Depends |
PRODUCTION STATUS (AS ON 31.03.2011)
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Particulars |
2010-2011 |
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Licensed Capacity |
N.A. |
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Installed
Capacity (In Kgs./ p.a.) |
|
|
Chlorhexidine Base |
36000 |
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Chlorhexidine Gluconate |
150000 |
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Chlorhexidine Acetate |
10000 |
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Chlorhexidine Hcl |
10000 |
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Cetrimide Powder |
20000 |
GENERAL INFORMATION
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Customers : |
Manufacturer |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
v
Bank of v HDFC Bank Limited v Kotak Mahindra Bank v Barclays Bank Plc v
Axis
Bank Limited, Plot No.C-3/9, Opposite Asopalav Guest House, Near Railway
Station, Old N.H. No.8, GIDC, Ankleshwar – 393 002, |
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Facilities : |
Note: Term Loans from Bank of Baroda are secured against Equitable mortgage
of factory land and building and Hypothecation of plant and machineries. Cash
Credit from Bank of Baroda is secured against Hypothecation of stock, book
debts and machineries. Demand Loans are secured against personal guarantee of
directors.
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rahuldeo and Company Chartered Accountants |
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Address : |
S-35, Uma Complex, GIDC, Ankleshwar – 393 002, |
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Income-tax
PAN of auditor or auditor's firm : |
AEAPP0126N |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
350000 |
Equity Shares |
Rs.10/- each |
Rs.3.500 Millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
348410 |
Equity Shares |
Rs.10/- each |
Rs.3.484
Millions |
|
|
|
|
|
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 |
3.484 |
3.484 |
3.484 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
10.871 |
3.980 |
1.588 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
14.355 |
7.464 |
5.072 |
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LOAN FUNDS |
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1] Secured Loans |
7.118 |
9.647 |
11.078 |
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2] Unsecured Loans |
6.045 |
5.076 |
5.209 |
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TOTAL BORROWING |
13.163 |
14.723 |
16.287 |
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DEFERRED TAX LIABILITIES |
1.159 |
0.564 |
0.444 |
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|
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TOTAL |
28.677 |
22.751 |
21.803 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
28.731 |
18.673 |
16.891 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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|
Inventories |
8.388
|
5.639 |
6.949 |
|
|
Sundry Debtors |
8.672
|
2.234 |
3.005 |
|
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Cash & Bank Balances |
0.625
|
2.172
|
1.296 |
|
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Other Current Assets |
7.270
|
4.177
|
2.459 |
|
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Loans & Advances |
4.872
|
2.015
|
2.137 |
|
Total
Current Assets |
29.827
|
16.237 |
15.846 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
25.247
|
10.933
|
10.343 |
|
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Other Current Liabilities |
0.000
|
0.011
|
(0.022) |
|
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Provisions |
4.651
|
1.249
|
0.664 |
|
Total
Current Liabilities |
29.898
|
12.193 |
10.985 |
|
|
Net Current Assets |
(0.071)
|
4.044
|
4.861 |
|
|
|
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|
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|
MISCELLANEOUS EXPENSES |
0.017 |
0.034 |
0.051 |
|
|
|
|
|
|
|
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TOTAL |
28.677 |
22.751 |
21.803 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
|
|
|
|
|
|
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Income |
102.071 |
53.661 |
34.291 |
|
|
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Other Income |
NA |
1.630 |
0.977 |
|
|
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TOTAL |
NA |
55.291 |
35.268 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
|
NA |
52.167 |
34.291 |
|
|
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Administrative Expenses |
|
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Advertising Expenses |
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TOTAL |
NA |
52.167 |
34.291 |
|
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|
PROFIT BEFORE
TAX |
NA |
3.124 |
0.977 |
|
|
|
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|
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|
|
Less |
TAX |
NA |
1.021 |
0.113 |
|
|
|
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|
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PROFIT AFTER TAX
|
6.891 |
2.103 |
0.864 |
|
|
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C.I.F. VALUE OF
IMPORTS |
16.039 |
3.390 |
5.964 |
|
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|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.78 |
6.04 |
NA |
|
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Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
140.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.200.000 millions
The above information has been parted by Mr. Paresh Madhavjibhai
Vaghasia (Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
3.80
|
2.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
5.82
|
2.85 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
8.95
|
2.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.42
|
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.00
|
3.61
|
5.38 |
|
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00
|
1.33
|
1.44 |
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) Constitutions
of the firm |
Yes |
|
4) Premises
details |
No |
|
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 (if applicable) |
Yes |
|
21) Market
information |
-- |
|
22) Litigations
that the firm / promoter involved in |
-- |
|
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 |
REVIEW OF OPERATION:
During the year the
Company has achieved turnover of Rs.102.071 millions and has earned Net Profit
of Rs.6.891 millions after providing depreciation and tax. The Board of
Directors found lucrative chances for the better development in the forthcoming
period.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24230GJ2005PTC046278 |
|
Name of the
company |
BASIC PHARMA LIFE SCIENCE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.146/B, GIDC Estate, Opposite Fire Fighter Station, Ankleshwar
– 393 002, E-Mail: basicpharma@gmail.com |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10296058 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Axis Bank
Limited, Plot No.C-3/9, Opposite Asopalav Guest House, Near Railway Station,
Old N.H. No.8, GIDC, Ankleshwar – 393 002, E-Mail: amit.upadhyay@axisbank.com |
|
Nature of
description of the instrument creating or modifying the charge |
Equitable
mortgage by deposit of title deeds dated 30.08.2011 |
|
Date of instrument
Creating the charge |
30.08.2011 |
|
Amount secured by
the charge |
Rs.36.889
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Cash Credit and Term
Loan: 3.50% (Base rate 9.75% p.a.) Presently 13.25% p.a. Export Packaging
Limit: up 180 days 11.00% p.a. and after 180 days 12.00% p.a. FBP/FBD : up to
90 days 11.00% p.a.and after 12.00 Terms of
Repayment: Cash Credit
: On demand Term Loan I : 26 monthly installments Term Loan II : 48
monthly installments Margin: Cash Credit: 25%
on stock and 40% on receivables Term Loan I : N.A Term Loan II:
25.93% of cost of plant and machineries. FBP/FBD Limit :
N.A ILC/FLC Limit and
Buyers Credit and Bank Guarantee : 15% of cash margin LER : 100% of
cash margin Extent and
Operation of the charge: Till the full
repayment. |
|
Short particulars
of the property charged |
Vllage Piraman R
S No. 241 paiki industrial Plot No. 146/B, adm 4922 sq. mts., District: Bharuch,
Sub-District Ankleshwar. |
|
Particulars of
the present modification |
Immovable
property situated at Vllage Piraman R.S. No.241 paiki industrial Plot
No.146/B, adm 4922 sq. mts., District: Bharuch, Sub-District Ankleshwar have
been provided to secured the loan
amount of Rs.36.889 millions by way of
Equitable Mortgage by deposit of title deeds dated 30.08.2011. |
FIXED ASSETS:
v
v
v Vehicles
v Plant and Machinery
v Laboratory Equipments
v Electrical Installations
v Diesel Generator Set
v Weighing Scale
v Gas Pipeline Heating System
v Office Equipments
v Computer
v Printer
v Furniture and Fixtures
v Refrigerator
v Mobile Phones
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.86.30 |
|
Euro |
1 |
Rs.67.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
|
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.