1. Summary Information
|
|
|
Country |
|
|
Company Name |
CIRON DRUGS AND PHARMCEUTICALS PRIVATE
LIMITED |
Principal Name 1 |
Mr. Ratanshi
Talakshi Shah |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Samir
Ratanshi Shah |
|
|
|
Registration # |
11-56735 |
|
Street Address |
1 Prabhat Nagar,
|
||
|
Established Date |
04.06.1990 |
SIC Code |
-- |
|
Telephone# |
91-22-26789322 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-26780784 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Tablets |
|
|
# of employees |
- |
Product Name 2 |
Capsules |
|
Paid up capital |
Rs.9,500,000/- |
Product Name 3 |
- |
|
Shareholders |
Directors or relatives of directors- 100% |
Banking |
Bank of |
|
Public Limited Corp. |
No |
Business Period |
21 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (48) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
- |
- |
- |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
367,393,000 |
Current Liabilities |
368,961,000 |
|
Inventories |
63,383,000 |
Long-term Liabilities |
74,386,000 |
|
Fixed Assets |
210,549,000 |
Other Liabilities |
45,721,000 |
|
Deferred Assets |
000 |
Total Liabilities |
489,068,000 |
|
Invest& other Assets |
4,727,000 |
Retained Earnings |
147,484,000 |
|
|
|
Net Worth |
156,984,000 |
|
Total Assets |
646,052,000 |
Total Liab. & Equity |
646,052,000 |
|
Total Assets (Previous Year) |
407,152,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
844,632,000 |
Net Profit |
35,744,000 |
|
Sales(Previous yr) |
693,431,000 |
Net Profit(Prev.yr) |
30,082,000 |
MIRA INFORM
REPORT
|
Report Date : |
26.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
CIRON DRUGS AND PHARMACEUTICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1 Prabhat Nagar, Patel Estate Road, Jogeshwari (West), Mumbai-400102,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation
: |
04.06.1990 |
|
|
|
|
Com. Reg. No.: |
11-56735 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24246MH1990PTC056735 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMC04421E |
|
|
|
|
Legal Form : |
Private limited liability company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Pharmaceutical Formulations
such as Tablets, Capsules, Syrups, Injections, Ointments and Powders |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 620000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well 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 (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered / Corporate Office : |
1 Prabhat Nagar, Patel Estate Road, Jogeshwari (West), Mumbai-400102,
Maharashtra, India |
|
Tel. No.: |
91-22-26789322/26780659/39426402/39426403/40298000 |
|
Fax No.: |
91-22-26780784 |
|
E-Mail : |
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Website : |
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Factory 1 : |
N-118, MIDC,
Tarapur, Boisar-401506, Maharashtra, India |
|
Area : |
14000 sq. fts. |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
35-37, 43-45,
CFC-B, Dewan Udyog Nagar, Allyali, Palghar, District Thane-401404,
Maharashtra, India |
|
|
|
|
Overseas Office: |
31, |
|
Tel. No.: |
91-732-3559930 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Ratanshi
Talakshi Shah |
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|
Designation : |
Director |
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Address : |
5th
Floor Rang Bhavan, M G Road, Cross Lane, Vile Parle (East), Mumbai – 400 057,
Maharashtra, India |
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|
Date of Birth/Age : |
05.01.1943 |
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Date of Appointment : |
02.07.1990 |
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Din No.: |
00246473 |
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Other Directorship:
|
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|
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|
Name : |
Mr. Samir
Ratanshi Shah |
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|
Designation : |
Director |
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|
Address : |
5th Floor
Rang Bhavan, M G Road, Cross Lane, Vile Parle (East), Mumbai – 400 057,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.11.1972 |
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Date of Appointment : |
10.07.2000 |
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Din No.: |
00250535 |
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Other Directorship:
|
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|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ms. Kirti
Talakshi Shah |
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|
Designation : |
Director |
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|
Address : |
16, 6th
Floor, Alpha Apartments, |
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Date of Birth/Age : |
28.10.1961 |
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Date of Appointment : |
18.06.2005 |
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Din No.: |
00250253 |
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|
Other Directorship:
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Kiran R Shah |
|
7063 |
|
Maya K Shah |
|
10387 |
|
Kayur R Shah |
|
7255 |
|
Ratanshi Talakshi
Shah |
|
17232 |
|
Kirti Talakshi
Shah |
|
15013 |
|
Samir R Shah |
|
12970 |
|
Kirti Talakshi
Shah (As Karta of K T Shah HUF) |
|
2595 |
|
Ratanshi Talakshi
Shah (As Karta of R. T. Shah) |
|
1350 |
|
Rajvi K Shah |
|
2020 |
|
Dhaval K Shah |
|
3185 |
|
Falguni S Shah |
|
840 |
|
Dhruvi S Shah |
|
1640 |
|
Dipti K. shah |
|
1350 |
|
Bhojaraj K. Shah |
|
50 |
|
Damayanti B. Shah
|
|
50 |
|
Acco. Commercial
and Trading Company Private limited, |
|
12000 |
|
|
|
|
|
Total |
|
95000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pharmaceutical Formulations
such as Tablets, Capsules, Syrups, Injections, Ointments and Powders |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Saraswat Cooperative Bank Limited, Goregaon West,
Mumbai-400063, Maharashtra, India ·
Bank of India, Malad (West) Branch, Opposite
Nataraj Market , S V Road, Malad (West), Mumbai-400064, Maharashtra, India |
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Facilities : |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Raman S. Shah and
Associates Chartered
Accountants |
|
Address : |
|
|
Pan No.: |
AAAAR1481M |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
95000 |
Equity Shares |
Rs.100/- each |
Rs.9.500
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 |
9.500 |
9.500 |
9.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
147.484 |
114.620 |
84.538 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
156.984 |
124.120 |
94.038 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
31.749 |
48.434 |
42.837 |
|
|
2] Unsecured Loans |
42.637 |
33.804 |
28.619 |
|
|
TOTAL BORROWING |
74.386 |
82.238 |
71.456 |
|
|
DEFERRED TAX LIABILITIES |
24.895 |
19.472 |
15.968 |
|
|
|
|
|
|
|
|
TOTAL |
256.265 |
225.830 |
181.462 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
210.549 |
181.253 |
169.289 |
|
|
Capital work-in-progress |
4.717 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.010 |
0.010 |
0.010 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
63.383
|
58.259 |
35.832
|
|
|
Sundry Debtors |
308.178
|
120.483 |
73.366
|
|
|
Cash & Bank Balances |
9.686
|
10.163 |
5.279
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
49.529
|
36.984 |
29.038
|
|
Total
Current Assets |
430.776
|
225.889 |
143.515 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
355.573
|
153.362 |
114.323
|
|
|
Other Current Liabilities |
13.388
|
4.676 |
4.324
|
|
|
Provisions |
20.826
|
23.284 |
12.705
|
|
Total
Current Liabilities |
389.787
|
181.322 |
131.352
|
|
|
Net Current Assets |
40.989
|
44.567 |
12.163
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
256.265 |
225.830 |
181.462 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
844.632 |
693.431 |
569.330 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
793.218 |
649.055 |
537.028 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
793.218 |
649.055 |
537.028 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
51.414 |
44.376 |
32.302 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
15.670 |
14.294 |
10.440 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
35.744 |
30.082 |
21.862 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
376.25 |
316.65 |
230.13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.23
|
4.34 |
3.84
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.02
|
10.90 |
10.33
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.36 |
0.34
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.96
|
2.12 |
2.16
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11
|
1.25 |
1.09
|
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Registered office of the company has been shifted from Alpha Apartments, M. G. Road, Vile Parle (West), Mumbai - 400 057, Maharashtra, India to the present address w.e.f.26.10.2009
OPERATIONAL
UPDATES:
During the year, the company has progress substantially by achieving
increase in both turnover and profit.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24246MH1990PTC056735 |
|
Name of the
company |
CIRON DRUGS AND
PHARMACEUTICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Alpha Apartments,
|
|
This form is for |
Creation of
charge |
|
Type of charge |
Others Maruti Alto LXi
car financed by the bank. |
|
Particular of charge
holder |
Bank of |
|
Nature of description
of the instrument creating or modifying the charge |
Agreement of
Hypothecation for consumer loan in respect of vehicles. |
|
Date of
instrument Creating the charge |
06.11.2009 |
|
Amount secured by
the charge |
Rs.0.250 million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 3.50% below the
BOIPLR /BOIPTLR with a minimum of 8.50% p.a. with quarterly rests or at such
other rate/s of interest as may be notified by the bank from time to time. Terms of
Repayment 36 EMI's of
Rs.0.008 million per month first installment payable on 31st day of December
2009 and the subsequent installments being payable on the last day of each
succeeding month until the entire loan is repaid. Margin As specified by
the Bank from time to time. Extent and
Operation of the charge Hypothecation by
way of first charge as security for the loan and also for all indebtedness or
liabilities of the Borrower to the Bank together with interest, commission,
costs, charges and expenses payable or incurred by the Bank. |
|
Short particulars
of the property charged |
Hypothecation of
New Maruti Alto LXi Car. |
FIXED ASSETS:
- Land
- Building
- Plant and Machinery
- Laboratory Equipments
- Electrical Installation
- Furniture and Fixtures
- Office Equipments
- Tools, Dies and Jigs
- Vehicles
- Computers
- Air Conditioners
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.50.91 |
|
|
1 |
Rs.80.77 |
|
Euro |
1 |
Rs.67.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
48 |
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.