|
Report Date : |
08.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHREE SIDHAMBIKA PHARMA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
“Nand Cottage", 2ND Floor, Near Railway Crossing, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.09.1999 |
|
|
|
|
Com. Reg. No.: |
11-121577 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1999PTC121577 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS28085B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, buy, sell ,Import, Export, And Deal In Chemicals Pharmaceuticals
of All Kinds And Forms Their Concentrates, Industrial Raw Material,
Chemicals, Fine Chemicals And Auxlllaries In Indian or Abroad. |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 34000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track.
There appears some dip in the turnover and profitability of the
company .However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct The company can be considered for business dealings with some caution. |
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 Office : |
“Nand Cottage", 2nd
Floor, Near Railway Crossing, ST. Braz Road, Vile Parle (West), Mumbai
– 400056, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Branches : |
133, Gopal Niwas, 2nd Floor, |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mrs. Aarti Devang Parikh |
|
Designation : |
Director |
|
Address : |
21-22, Usha - Nisha CO.Op - Housing Society Limited, 2nd
Floor, S.V.Road, Vile Parle (West), Mumbai - 400056, |
|
Date of Appointment : |
01.11.2003 |
|
Din No.: |
01195553 |
|
|
|
|
Name : |
Mr. Bipinchandra Mangaldas Parikh |
|
Designation : |
Director |
|
Address : |
21- 22, Usha - Nisha CO.Op - Housing Society Limited, 2nd
Floor, S.V.Road, Vile Parle (West), Mumbai - 400056, Maharashtra, |
|
Date of Appointment : |
02.09.1999 |
|
Din No.: |
01196738 |
|
|
|
|
Name : |
Mr. Devang Bipinchandra Parikh |
|
Designation : |
Director |
|
Address : |
21-22, Usha - Nisha CO.Op - Housing Society Limited, 2nd
Floor, S.V.Road, Vile Parle (West), Mumbai - 400056, |
|
Date of Appointment : |
02.09.1999 |
|
Din No.: |
01196790 |
|
|
|
|
Name : |
Mrs. Usha bipinchandra parikh |
|
Designation : |
Director |
|
Address : |
21-22, Usha - Nisha CO.Op - Housing Society Limited, 2nd
Floor, S.V.Road, Vile Parle (West), Mumbai - 400056, |
|
Date of Appointment : |
01.11.2003 |
|
Din No.: |
01196841 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Bipinchandra Mangaldas Parikh |
|
250000 |
|
Mr. Devang Bipinchandra Parikh |
|
250000 |
|
Total |
|
500000 |
As on 30.09.2011
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, buy,sell ,Import, Export, And Deal In Chemicals
Pharmaceuticals of All Kinds And Forms Their Concentrates, Industrial Raw Material,
Chemicals, Fine Chemicals And Auxlllaries In Indian or Abroad. |
GENERAL INFORMATION
|
Suppliers : |
·
Jiangsu Guotai international Group Winsun Imp and
Wxp ·
Aurochem Pharmaceutical (I) Limited ·
Zhonghua TJ Compotation |
|||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
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No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
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Bankers : |
Bank of |
|||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
|
Facilities : |
Rs.in
Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. Gupta and Company Chartered Accountants |
|
Address : |
109, |
|
Tel. No.: |
91-22-26867109/26863628 |
|
Pan No.: |
AAAPJ8624P |
CAPITAL STRUCTURE
As 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
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 |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3.466 |
2.434 |
0.692 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8.466 |
7.434 |
5.692 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6.156 |
13.888 |
12.907 |
|
|
2] Unsecured Loans |
0.235 |
0.965 |
1.541 |
|
|
TOTAL BORROWING |
6.391 |
14.853 |
14.448 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
14.857 |
22.287 |
20.140 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.808 |
0.487 |
0.211 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.372 |
3.199 |
2.979 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.308
|
7.212 |
5.143 |
|
|
Sundry Debtors |
2.981
|
10.457 |
9.977 |
|
|
Cash & Bank Balances |
2.436
|
2.591 |
2.298 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.128
|
1.065 |
0.720 |
|
Total
Current Assets |
10.853
|
21.325 |
18.138 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
0.110
|
2.499 |
0.000 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
1.150 |
|
|
Provisions |
0.066
|
0.246 |
0.080 |
|
Total
Current Liabilities |
0.176
|
2.745 |
1.230 |
|
|
Net Current Assets |
10.677
|
18.580 |
16.908 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.021 |
0.042 |
|
|
|
|
|
|
|
|
TOTAL |
14.857 |
22.287 |
20.140 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
28.823 |
32.011 |
27.553 |
|
|
|
Other Income |
0.237 |
0.245 |
0.851 |
|
|
|
TOTAL (A) |
29.060 |
32.256 |
28.404 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
24.061 |
22.981 |
24.317 |
|
|
|
Bad Debts |
0.000 |
2.731 |
0.000 |
|
|
|
Bank Charges |
0.137 |
0.082 |
0.145 |
|
|
|
Bank Interest |
0.867 |
1.038 |
1.303 |
|
|
|
Cable and Internet Services |
0.000 |
0.007 |
0.008 |
|
|
|
Electricity Expense |
0.028 |
0.031 |
0.040 |
|
|
|
Franking Stamp |
0.000 |
0.011 |
0.010 |
|
|
|
Insurance Charges |
0.057 |
0.037 |
0.044 |
|
|
|
Interest on loan |
0.107 |
0.225 |
0.175 |
|
|
|
Key man Insurance Premium |
0.261 |
0.130 |
0.133 |
|
|
|
Legal and Profession Fees |
0.133 |
0.082 |
0.086 |
|
|
|
Preliminary Expense Written off |
0.021 |
0.022 |
0.021 |
|
|
|
Repairs and Maintenance |
0.003 |
0.052 |
0.028 |
|
|
|
Salary |
0.734 |
0.931 |
0.836 |
|
|
|
Telephone Expense |
0.016 |
0.013 |
0.006 |
|
|
|
Transport Charges |
0.000 |
0.002 |
0.008 |
|
|
|
Other Expenses |
0.941 |
1.257 |
0.916 |
|
|
|
TOTAL |
27.366 |
29.632 |
28.076 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1.694 |
2.624 |
0.328 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.201 |
0.102 |
0.043 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.493 |
2.522 |
0.285 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.461 |
0.780 |
0.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
1.032 |
1.742 |
0.185 |
|
|
|
|
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.55
|
5.40 |
0.65 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.18
|
7.88 |
1.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.80
|
11.56
|
5.32
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.34
|
0.05
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.78
|
2.37 |
0.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
61.66
|
7.77 |
14.75 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Construction
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last One years |
Yes |
|
Profitability
for last One years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
Yes |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24110MH1999PTC121577 |
|
Name of the
company |
SHREE SIDHAMBIKA PHARMA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
“Nand Cottage", 2ND Floor, Near Railway Crossing, Email: |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) |
|
Particular of
charge holder |
Bank of India, Ville Parle (west) Branch, |
|
Nature of
instrument creating charge |
Hypothecation cum
loan agreement (Plant and Machinery, Stocks and Book Debts) |
|
Date of
instrument Creating the charge |
02.03.2009 |
|
Rs.9.500 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate Of Interest: 1)CC ( Hyp. of Stocks),
CC(Hyp. of Book Debts upto 90 days):
2% over BPLR presently 14.50%
p.a. with monthly rests,2) Letter of Credit (F) DP/ DA 90 days : As
applicable from time to time or at such other rate/s of interest as may be
notified by the bank from time to time. Terms Of
Repayment: On Demand. MARGIN 25% against raw material and finished goods ; 40% against book debts
outstanding of 3 months or as required
by the Bank from time to time. Extent And
Operation Of The Charge Security in favour
of Bank as first charge for due payment of all monies including the principal
sums/installments/interest/commission, costs, charges and expenses and all
other moneys, whatsoever due owing and payable by the borrower to Bank under
or in respect of or in connection with
or in anywise concerning or relating to the said facilities agreed to be
granted &/or granted by the Bank to the borrower as aforesaid & Also
for due repayment of all present & future Continued in: Others: Indebtedness
& liabilities of the borrower to the Bank of any kind in any manner
whether solely or jointly, primary or collateral, accrued or accruing with
all relative interest/commission, charges, costs (between Advocate &
client) & expenses. Facilities and
Limits :A)Fund Based :1)CC(Hyp. of Stocks):Rs.5.000 Millions,2) CC(Hyp. of
Book Debts upto 90 days): Rs.70 Millions
Max. (1 + 2): Rs.7.000 Millions B) Non Fund Based : Letter of Credit
(F) DP/DA 90 days : Rs.2.500 Millions Aggregate Limit (A+B) : Rs.9.500
Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All tangible
movable machineries and plant both present and future at Mumbai , Bhiwandi or wherever
situated b) All tangible movable properties,assets and stocks of whatsoever
nature (both present & future) at Mumbai , Bhiwandi or elsewhere c) All present & future
book debts, outstanding, money receivables, claims,bills which are now due
and owing or which may any time hereafter during the continuance of this
security become due and owing to the Borrower. Details as per Agreement Copy
attached. |
FIXED ASSETS:
·
Air Conditioner
·
Air Conditioner -II
·
Air Conditioner- LG Split
·
Air Conditioner Split 1.5
Ton
·
Air Conditioner Videocon
1
·
Air Conditioner Videocon
2
·
Air Conditioner Videocon
3
·
Furniture and Fixtures
·
Hyundai – 10
·
Motor Car
·
Colour Tv
·
Laptop- 5
·
LCD TV Samsumg
·
Printer
·
Refrigerator
·
Refrigerator –II
·
Lex Mark Fax
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.53.72 |
|
|
1 |
Rs.86.98 |
|
Euro |
1 |
Rs.70.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.