|
Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
ARIUS FORMULATIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.272/2,Sangam Apts Belly Are,
Anna Nagar, Chennai - 600040, Tamilnadu |
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Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
05.08.2009 |
|
|
|
|
Com. Reg. No.: |
072482 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.600 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33110TN2009PTC072482 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Medicine |
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|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (13) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a relatively new company having moderate track. There
appears some accumulated losses recorded by the company. However, trade
relations are reported as fair. Business is active. Payment terms are
unknown. The company can be considered for business dealings on a secured trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Bala Bhaskaran |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-4132277888 |
|
Date : |
27.02.2012 |
LOCATIONS
|
Registered Office : |
No.272/2,Sangam Apts Belly Are, Anna Nagar, Chennai -
600040, Tamilnadu, India |
|
Mobile No.: |
91-4132277888 (Mr. Bala Bhaskaran) |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Branches : |
No.4/25 B, Valluvar Salai, Ramapuram, Chennai – 600089, Tamilnadu,
India |
|
Tel. No.: |
91-44-22494524 |
DIRECTORS
AS ON 27.12.2010
|
Name : |
Mr. Thillainayagam Nataraj |
|
Designation : |
Managing Director |
|
Address : |
No.272/2,Sangam Apts Belly Are, Anna Nagar, Chennai -
600040, Tamilnadu, India |
|
Date of Appointment : |
05.08.2009 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U33110TN2009PTC072482 |
ARIUS FORMULATIONS PRIVATE
LIMITED |
Managing director |
06/11/2009 |
05/08/2009 |
- |
Active |
NO |
|
Name : |
Mr. Balasubramaniam Alamelu |
|
Designation : |
Director |
|
Address : |
No.272/2,Sangam Apts Belly Are, Anna Nagar, Chennai -
600040, Tamilnadu, India |
|
Date of Appointment : |
05.08.2009 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U33110TN2009PTC072482 |
ARIUS FORMULATIONS PRIVATE
LIMITED |
Director |
05/08/2009 |
05/08/2009 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Bala Bhaskaran |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.12.2010
|
Names of Shareholders |
|
No. of Shares |
|
Thillainayagam Nataraj |
|
122800 |
|
Balasubramaniam Alamelu |
|
122800 |
|
Suresh T Shankaran |
|
57200 |
|
B Ananda Padmanaban |
|
57200 |
|
Total |
|
360000 |
AS ON 27.12.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Medicine |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Suppliers : |
Tablet India Private Limited |
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Customers : |
·
Manufacturer ·
Retailers ·
Apex Laboratories Private Limited |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
Vijaya Bank, P B No 360, 168, Opposite Spencer Plaza, Mount Road,,
Chennai - 600002, Tamil Nadu, India |
|||||||||||||||||||||
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|||||||||||||||||||||
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Facilities : |
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|
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Srinivas and Gopal Chartered Accountant |
|
Address : |
C-1, 2nd Floor, Ceebros Apartments, 2, Saravana St., T Nagar, Chennai – 600017, Tamilnadu, India
|
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000
Millions |
|
|
Share Application Money |
|
Rs.2.600 Millions
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
3.600 |
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|
2] Share Application Money |
|
|
0.000 |
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|
3] Reserves & Surplus |
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|
0.000 |
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|
4] (Accumulated Losses) |
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|
(0.072) |
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NETWORTH |
|
|
3.528 |
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|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
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|
2.467 |
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|
2] Unsecured Loans |
|
|
0.060 |
|
|
TOTAL BORROWING |
|
|
2.527 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.085 |
|
|
|
|
|
|
|
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TOTAL |
|
|
6.140 |
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|
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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|
4.199 |
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Capital work-in-progress |
|
|
0.000 |
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|
|
|
|
|
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INVESTMENT |
|
|
0.000 |
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|
DEFERREX TAX ASSETS |
|
|
0.000 |
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|
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
|
|
0.135 |
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|
Sundry Debtors |
|
|
0.102 |
|
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Cash & Bank Balances |
|
|
0.566 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.400 |
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Total
Current Assets |
|
|
1.203 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
|
|
0.241 |
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Other Current Liabilities |
|
|
0.094 |
|
|
Provisions |
|
|
0.000 |
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Total
Current Liabilities |
|
|
0.335 |
|
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Net Current Assets |
|
|
0.868 |
|
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|
|
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|
MISCELLANEOUS EXPENSES |
|
|
1.073 |
|
|
|
|
|
|
|
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TOTAL |
|
|
6.140 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
|
|
0.364 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
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TOTAL |
|
|
0.347 |
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|
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|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
0.017 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
(0.054) |
|
|
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|
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|
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|
PROFIT AFTER TAX
|
|
|
0.071 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2010 |
|
PAT / Total Income |
(%) |
|
|
19.50 |
|
|
|
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|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
NA |
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|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
0.31 |
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|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.00 |
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|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
0.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
3.59 |
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
-- |
|
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 |
No |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
-- |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
-- |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
-- |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
FORM 8:
|
Corporate identity number of the company |
U33110TN2009PTC072482 |
|
Name of the company |
ARIUS FORMULATIONS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
No.272/2,Sangam Apts Belly Area, Anna Nagar,
Chennai – 600040, Tamil Nadu, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable Property |
|
Particular of charge holder |
Vijaya Bank |
|
Nature of instrument creating charge |
Agreement of Hypothecation of Goods And Assets. |
|
Date of instrument Creating the charge |
05/12/2009 |
|
Amount secured by the charge |
Rs.2.500 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest BPLR
i. e., 12.5% p.a (FLOATING) Rate of Additional Interest Incase of
Default-2% Terms of Repayment 1.To Be Repaid In 57 Emi Commencing From
01.02.2010.60 Months Door To Door Margin 1.Plant and Machinery-52.98% Extent and Operation of the charge As Per The Instrument Executed On 5.12.2009
|
|
Short particulars of the property charged |
Ointment Filling Machinery, Liquid Filling
Machinery, Ahu, Electrical Fittings, Aluminium Partition, False Ceiling. |
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.50.31 |
|
|
1 |
Rs.70.04 |
|
Euro |
1 |
Rs.65.82 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
|
13 |
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.