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Report Date : |
22.05.2012 |
IDENTIFICATION DETAILS
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Name : |
PELL TECH HEALTH CARE PRIVATE LIMITED |
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Registered
Office : |
Plot No. 20-B, Tansa Farm Estate, Village Met, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
04.08.2003 |
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Com. Reg. No.: |
11-141586 |
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Capital
Investment / Paid-up Capital : |
Rs. 21.000 Millions |
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CIN No.: [Company Identification
No.] |
U24230MH2003PTC141586 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP19440B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of pellets and granules. Also tablets and capsules under loan
licensing and export of pellets and granules. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 100000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There is some
accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some
cautions. The Profit and Loss of the company is Not Available. |
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) |
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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 |
LOCATIONS
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Registered Office : |
Plot No. 20-B, Tansa Farm Estate, Village Met, |
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Tel. No.: |
91-22-28662980 |
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E-Mail : |
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Website : |
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Area : |
3980 sq.fts (approximately) |
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Location : |
Owned |
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Head Office : |
202, Sonmur Apartments, Daruwala Compound, |
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Tel. No.: |
91-22-28662980 / 65164880/2 / 28083674 |
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Fax No.: |
91-22-28055626 |
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E-Mail : |
karnik@pelltech-healthcare.com
dharmesh@pelltech-healthcare.com
prashant@pelltech-healthcare.com
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Area : |
1800 sq.fts (approximately) |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
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Name : |
Mr. Prashant Shah |
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Designation : |
Chairman |
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Address : |
202, A, Jade Apartments, 2nd Floor, |
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Date of Birth/Age : |
11.05.1965 |
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Date of Appointment : |
04.08.2003 |
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DIN No.: |
00177632 |
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Other Directorship : |
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Name : |
Mr. Dharmesh Sunderji Shah |
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Designation : |
Managing Director |
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Address : |
201, A, Jade Apartments, 2nd Floor, |
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Date of Birth/Age : |
26.08.1966 |
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Date of Appointment : |
04.08.2003 |
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DIN No.: |
00162497 |
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Other Directorship : |
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Name : |
Mrs. Neepa Dharmesh Shah |
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Designation : |
Director |
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Address : |
201, A, Jade Apartments, 2nd Floor, |
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Date of Birth/Age : |
10.04.1966 |
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Date of Appointment : |
04.08.2003 |
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DIN No.: |
00162511 |
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Other Directorship : |
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Name : |
Mrs. Rupal Prashant Shah |
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Designation : |
Director |
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Address : |
201, A, Jade Apartments, 2nd Floor, |
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Date of Birth/Age : |
02.02.1967 |
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Date of Appointment : |
04.08.2003 |
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DIN No.: |
00162516 |
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Other Directorship : |
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Name : |
Dr. (Mrs.) Amita Bhushan Karnik |
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Designation : |
Director |
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Address : |
C-3, 711, Swapna Purti Apartments, |
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Date of Birth/Age : |
06.09.1965 |
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Date of Appointment : |
04.08.2003 |
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DIN No.: |
00162528 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
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No. of Shares |
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Mr. Prashant S Shah |
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400000 |
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Mr. Dharmesh Sunderji Shah |
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450000 |
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Mrs. Rupal P. Shah |
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200000 |
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Mrs. Neepa D. Shah |
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150000 |
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Mr. Sunderji M. Shah |
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150000 |
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Mrs. Madhuben S. Shah |
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150000 |
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Ms. Nirali S. Shah |
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150000 |
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M/s. Sunderji Shah (HUF) |
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150000 |
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M/s. Prashant Shah |
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150000 |
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M/s. Dharmesh Shah |
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150000 |
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Total |
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2100000 |
AS ON 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of pellets and granules. Also tablets and capsules under
loan licensing and export of pellets and granules. |
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Products : |
Ø
Pellets For Capsules Ø Direct Compressible Granules Ø Taste mask Granules / Powder Ø Individual Finished Formulation Ø Nutraceuticals and Dietary Supplements Ø Mouth Dissolving ODTS / Chewable / Dispersible Ø
Product Under
Development |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Ø The Zoroastrian Co-operative Bank Limited, Borivali Branch, 8/10, Dattani Trade Centre, Chandavarkar Road, Borivali (West) - 400092, Mumbai , Maharashtra, India Ø
Excellent Co-operative Bank Limited, Z
Apartments, Shankar Galli, Kandivali (West),
Mumbai – 400 067, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. Madanlal Mehta and Company Chartered Accountants |
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Address : |
Office No. 26, |
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Tel. No.: |
91-22-22202051/ 22077581 |
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Income-tax
PAN of auditor or auditor's firm : |
AAAPM8940K |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs. 10/-
each |
Rs. 30.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
2100000 |
Equity Shares |
Rs. 10/-
each |
Rs. 21.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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SHAREHOLDERS FUNDS |
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1] Share Capital |
21.000 |
16.000 |
16.000 |
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2] Share Application Money |
23.783 |
21.616 |
21.233 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(18.380) |
(19.185) |
(16.721) |
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NETWORTH |
26.403 |
18.431 |
20.512 |
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LOAN FUNDS |
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1] Secured Loans |
76.001 |
69.508 |
52.596 |
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2] Unsecured Loans |
0.000 |
1.750 |
0.918 |
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TOTAL BORROWING |
76.001 |
71.258 |
53.514 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
102.404 |
89.689 |
74.026 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
52.076 |
56.196 |
59.051 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.106 |
0.106 |
0.106 |
|
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DEFERRED TAX ASSETS |
10.283 |
9.725 |
8.456 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
|
|
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Inventories |
31.694
|
24.439 |
24.550 |
|
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Sundry Debtors |
34.337
|
29.621 |
25.520 |
|
|
Cash & Bank Balances |
0.585
|
0.335 |
0.171 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
6.234
|
5.296 |
2.639 |
|
Total
Current Assets |
72.850
|
59.691 |
52.880 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
33.008
|
36.288 |
47.996 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
1.625
|
1.808 |
0.882 |
|
Total
Current Liabilities |
34.633
|
38.096 |
48.878 |
|
|
Net Current Assets |
38.217
|
21.595 |
4.002 |
|
|
|
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|
|
MISCELLANEOUS EXPENSES |
1.722 |
2.067 |
2.411 |
|
|
|
|
|
|
|
|
TOTAL |
102.404 |
89.689 |
74.026 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
TURNOVER |
130.000
|
128.400 |
103.200 |
|
|
|
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.19
|
5.93 |
4.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.10
|
1.57 |
1.08 |
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 |
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6. Line of Business |
Yes |
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7. Promoter’s background |
Yes |
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8. No. of Employees |
No |
|
9. Name of person contacted |
No |
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10. Designation of contact person |
No |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
No |
|
13. Reasons for variation <> 20% |
-- |
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14. Estimation for coming financial year |
No |
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15. Capital in the business |
Yes |
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16. Details of sister concerns |
No |
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17. Major suppliers |
No |
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18. Major customers |
No |
|
19. Payments terms |
No |
|
20. Export / Import details |
No |
|
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:
The Registered Address of the Company has been
shifted from C/O Ator Pharmaceutical Daruwala Compound S V Road, Malad (West) –
400064, Mumbai,
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24230MH2003PTC141586 |
|
Name of the
company |
PELL TECH HEALTH
CARE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 20-B, Tansa Farm Estate, Village Met, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10260196 |
|
Type of charge |
Immovable Property
|
|
Particular of
charge holder |
The Zoroastrian Co-operative Bank Limited, Borivali
Branch, 8/10, Dattani Trade Centre, Chandavarkar Road, Borivali (West) - 400092,
Mumbai , Maharashtra, India Email ID: zcblco@mtnl.net.in |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental Deed
Of Mortgage As Prime / Collateral
Security |
|
Date of
instrument Creating the charge |
12.07.2011 |
|
Amount secured by
the charge |
Rs. 72.767
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest As
Determined By The Bank From Time To Time. Terms of Repayment On Demand Margin As per sanction
terms. Extent and Operation of the charge To Secure An
Aggregate Amount Of Rs. 72.767 Millions (Including New Term Loan Of Rs. 3.500
millions) Granted By The Bank To The Company. Others NIL |
|
Short particulars
of the property charged |
1. Extension of
mortgage in favour of the bank in respect of shop no.8, ground floor, ashoka
palace, situated at 2. Belonging to
Shri Dharmesh S. Shah and Smt. Neepa D. Shah. |
|
Date of latest
modification prior to the present modification |
07.03.2011 |
|
Particulars of
the present modification |
Extension of
mortgage in favour of the bank in respect of Shop No.8, Ground Floor, Ashoka Palace,
Situated at Makrani Pad Road, Malad (East), Bearing C.T.S. No.572/D, 579/A 3,
Mumbai - 400097 belonging to Shri Dharmesh S. Shah and Smt. Neepa D. Shah as
security for an aggregate amount of Rs. 72.767 millions (including new term
loan of Rs. 3.500 millions) granted by the bank to M/s. Pell Tech Health Care
Private Limited Together with interest, costs, charges, expenses and all
other monies payable thereon. |
FINANCIAL RESULTS:
The turnover of the company for the Financial Year
ended 31st March, 2011 is around Rs. 130.000 millions and expecting
to achieve the turnover around Rs. 180.000 Millions during the current
financial year.
AS PER WEBSITE DETAILS
PROFILE:
Subject is a WHO-GMP
CERTIFIED PHARMACEUTICAL MANUFACTURING COMPANY with dedicated state-of-art facility
for Manufacturing high quality conventional and modified released Pellets
and finished dose packages in (Pellets) capsules and tablets. The
plant is located 70 kms from the transport hub to domestic as well as International
Destination from
Pell Tech is specially engaged in manufacturing high quality conventional drug
loaded pellets, sustained released pellets, enteric coated pellets, dual
released pellets and time released pellets, combination pellets, compressed
granules and finished dose packages in tablets and (Pellets) capsules using
Innovative Drug Delivery Technologies utilizing some of best and latest
processing machineries like Fluid Bed Coater (Pellets, micropellets,
particles, extruder and spheronizers). This is essential to achieve uniformity
and efficiency in layering and coating process which in turn will ensure in
consistent release characteristics and to achieve commercial capabilities for a
number of drug molecules depending on the dose requirement and final product
specification.
Their specialized product development needs are well serviced by In-House R and
D facilities comprising of Formulation and Analytical competencies.
Technical package is available for each product and DMF (CTD format) is ready
for key products. They are interested in developing new products exclusively
for customer specific needs and produce them on commercial scale.
Their Manufacturing facilities are approved by Indian FDA with GMP WHO
standards and independent product lines help them to allow production of bulk
orders or small batches at short notice, while they are in state of
completeness for awaiting response from their foreign clients.
FIXED ASSETS
Ø Land
Ø
Ø Factory Furniture
Ø Plant and Machinery
Ø Electrical Installations
Ø Computer
Ø Office Equipments
Ø Motor Vehicle
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. 54.68 |
|
|
1 |
Rs. 86.52 |
|
Euro |
1 |
Rs. 69.86 |
INFORMATION DETAILS
|
Report Prepared by
: |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
3 |
|
--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 |
|
27 |
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.