MIRA
INFORM REPORT
|
Report Date : |
18.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
SPARSHA PHARMA INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
#44, Jalavayu Vihar, K P H B Colony, Hyderabad-500072, Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
12.02.2007 |
|
|
|
|
Com. Reg. No.: |
01-052719 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 83.222 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232AP2007PTC052719 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDS18314C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Marketing of transdermal
products for global markets |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
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. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
#44, Jalavayu Vihar, K P H B Colony, Hyderabad-500072, Andhra Pradesh,
India |
|
Tel. No.: |
91-40-66788880 |
|
Fax No.: |
91-40-23541713 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
# 8-2-408, D-3, Sri Krishna Apartments, Road No.6, Banjara Hills,
Hyderabad-500034, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23352581 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Survey No.354, Muppired Pally Village, Tooptan Mandal, District
Medak-502334, Andhra Pradesh, India |
DIRECTORS
AS ON 28.09.2011
|
Name : |
Mr. Dange Veerapaneni |
|
Designation : |
Managing Director |
|
Address : |
3980, San Augustine Way San Diego, CA-92130, USA |
|
Date of Birth/Age : |
15.09.1956 |
|
Date of Appointment : |
11.04.2008 |
|
DIN No.: |
02317960 |
|
|
|
|
Name : |
Mr. Koduru Iswara Varaprasad Reddy |
|
Designation : |
Director |
|
Address : |
Plot No.822-A, Road No.40, Jubilee Hills, Hyderabad-500033, Andhra
Pradesh, India |
|
Date of Birth/Age : |
30.06.1947 |
|
Date of Appointment : |
12.02.2007 |
|
DIN No.: |
00196148 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U21011AP1991PTC012978 |
TRUST
HOUSE TECHNICAL SERVICES PRIVATE LIMITED |
Director |
22/07/1991 |
22/07/1991 |
12/11/2010 |
Active |
NO |
|
2 |
U24110AP1993PLC015470 |
SHANTHA
BIOTECHNICS LIMITED |
Director |
30/08/2011 |
10/03/1993 |
- |
Active |
NO |
|
3 |
U72200AP1992PLC014675 |
ANANTH
TECHNOLOGIES LIMITED |
Director |
01/06/1993 |
01/06/1993 |
13/11/2009 |
Active |
NO |
|
4 |
U65993AP1995PTC019842 |
SVAS
INVESTMENTS PRIVATE LIMITED |
Director |
28/03/1995 |
28/03/1995 |
- |
Active |
NO |
|
5 |
U10200AP1995PTC018574 |
MERICLONE
BIOLUK PRIVATE LIMITED |
Director |
29/09/1995 |
29/09/1995 |
- |
Strike
off |
NO |
|
6 |
U31300AP1996PTC026016 |
INDUS
INSUL PRIVATE LIMITED |
Director |
23/12/1996 |
23/12/1996 |
- |
Active |
NO |
|
7 |
U31909DD1998PLC004665 |
NED
ENERGY LIMITED |
Director |
11/12/1998 |
11/12/1998 |
29/09/2007 |
Active |
NO |
|
8 |
U24232AP2007PTC052719 |
SPARSHA
PHARMA INTERNATIONAL PRIVATE LIMITED |
Director |
12/02/2007 |
12/02/2007 |
- |
Active |
NO |
|
9 |
U85100AP2008PTC062090 |
SARVEJANA
HEALTHCARE PRIVATE LIMITED |
Director |
30/09/2009 |
11/01/2009 |
- |
Active |
NO |
|
10 |
U24100AP2009PTC062594 |
INDIAN
INSTITUTE OF BIOTECHNOLOGY PRIVATE LIMITED |
Director |
23/01/2009 |
23/01/2009 |
- |
Active |
NO |
|
Name : |
Ms. Hemalatha Devi Veerapaneni |
|
Designation : |
Additional Director |
|
Address : |
3980, San Augustine Way San Diego, CA-92130, USA |
|
Date of Birth/Age : |
04.09.1961 |
|
Date of Appointment : |
07.09.2007 |
|
DIN No.: |
00225447 |
|
|
|
|
Name : |
Mr. Venka Gollamudi Reddy |
|
Designation : |
Director |
|
Address : |
869, flores De Oro, South Pasadena-91030, USA |
|
Date of Birth/Age : |
20.07.1942 |
|
Date of Appointment : |
14.07.2008 |
|
DIN No.: |
00244423 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U40105TN1995PTC047928 |
MADURAI
POWER CORPORATION PRIVATE LIMITED |
Director |
23/03/2011 |
16/08/2001 |
Active |
NO |
|
2 |
U24232AP2007PTC052719 |
SPARSHA
PHARMA INTERNATIONAL PRIVATE LIMITED |
Director |
11/08/2008 |
14/07/2008 |
Active |
NO |
|
Name : |
Mr. Kruschev Veerapaneni |
|
Designation : |
Director |
|
Address : |
303, Sai Soudha Apartment, Raghurama Street, Moghal Rajpuram,
Vijayawada-520010, Andhra Pradesh, India |
|
Date of Birth/Age : |
06.10.1958 |
|
Date of Appointment : |
12.02.2007 |
|
DIN No.: |
01184280 |
|
|
|
|
Name : |
Mr. Bobba Venkatadri |
|
Designation : |
Director |
|
Address : |
1204, Cabrillo Ave, Burlingame-94010, USA |
|
Date of Birth/Age : |
03.12.1943 |
|
Date of Appointment : |
11.04.2008 |
|
DIN No.: |
02272890 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24232AP2007PTC052719 |
SPARSHA
PHARMA INTERNATIONAL PRIVATE LIMITED |
Director |
11/08/2008 |
11/04/2008 |
Active |
NO |
|
2 |
U24239MH2005FTC158447 |
NAPO
INDIA PRIVATE LIMITED |
Director |
30/09/2008 |
17/09/2008 |
Active |
NO |
|
3 |
U51397MH2008PTC187782 |
NAPO
PHARMACEUTICALS INDIA PRIVATE LIMITED |
Director |
10/12/2009 |
27/10/2008 |
Active |
NO |
|
Name : |
Mr. Shosaku Murayama |
|
Designation : |
Director |
|
Address : |
13-25, 1301, Chuo-Shim Khagawa-7600007, Japan |
|
Date of Birth/Age : |
21.09.1949 |
|
Date of Appointment : |
23.11.2008 |
|
DIN No.: |
02408044 |
|
|
|
|
Name : |
Mr. Akira Nakagawa |
|
Designation : |
Director |
|
Address : |
20-10, Swgasaki, 1-Chome, Urawa-Ku, Saitama-3300044, Japan |
|
Date of Birth/Age : |
28.06.1958 |
|
Date of Appointment : |
19.05.2011 |
|
DIN No.: |
03553815 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2011
|
Names of Shareholders |
No. of Shares |
|
Dange Veerapaneni, Jt. Mrs. Hemalatha Veerapaneni |
2626765 |
|
Hemalatha Veerapaneni |
934235 |
|
Radhakisan Sohanlal Baheti |
50000 |
|
Digi Star Investments Limited, Mauritius |
400000 |
|
Ekambareswara Rao Kandimalla, Jt. Mrs. Seetha Kandimalla |
125000 |
|
Madhavi Gudivaka |
50000 |
|
Kodela Vani, Jt. Mr. Kanneganti Murthy |
50000 |
|
Bharatha Lakshmi Manne |
50000 |
|
Ravi L. Manne |
25000 |
|
Prasad Manne |
25000 |
|
Kondragunta Satya Chaitanya, Jt. Mrs. Anju Sri Mandava |
50000 |
|
Vijay Kishore Pasupuleti |
50000 |
|
Radha J. Sarma, Jt. Mr. Jonnalagedda S.M. Sarma |
50000 |
|
Zubin Kammula, Jt. Ms. Parvathy K. and Jt. Ms. Prabhavathi
Gutheti |
50000 |
|
Srinivas J. Sarma, Jt. Ms. Sabena Sarma |
100000 |
|
Appa Rao Vaddempudi, Jt. Ms. Kousalya Vaddempudi |
100000 |
|
Lakshmi Velakaturi, Jt. Mr. Mahadeva Velakaturi |
50000 |
|
Reddy A. Kal |
25000 |
|
Venkata R. Doppalapudi |
25000 |
|
Nalini Chandar |
50000 |
|
Subrahmanyam Kunala, Jt. Ms. Sudharani Kunala |
50000 |
|
Sashidhar Mitta Reddy |
50000 |
|
Venka G. Reddy |
202885 |
|
Dyvadheenam Koneru |
100000 |
|
Koduru Sravanthi |
269765 |
|
Teikoku Seiyaku Company Limited, Japan |
1333000 |
|
K.I. Varaprasad Reddy |
5000 |
|
Kruschev Veerapaneni |
5000 |
|
N. Sangeetha |
400000 |
|
K. Sravanthi Reddy |
400000 |
|
R. Rajathi |
50000 |
|
K. Vasantha |
525235 |
|
I.S. Raju |
5000 |
|
T.B.N. Kumar, Company
Employee |
3000 |
|
J. Venkateswarlu, Company
Employee |
2000 |
|
G. Dharmahitha |
1000 |
|
A. Sailaja Reddy, Jt. Ms. A. Anusha Reddy and Jt. Mr. A.V.
Anirudh Reddy |
3000 |
|
Radha Kintali |
1000 |
|
L. Padma |
1000 |
|
A. Rajasekhar, Jt. Mr. T. Ramajaneyulu and Jt. Mr. M.
Suresh Kumar |
1050 |
|
D. Bhavani, Company
Employee |
2000 |
|
J. Venkateswarlu, Company
Employee, Jt. Mr. A. Venkat Rao |
2000 |
|
T.B.N. Kumar, Company
Employee, Jt. Mr. M. Raghuram |
1000 |
|
J. Venkateswarlu, Company
Employee, Jt. Mr. G. Mallesham |
500 |
|
T.B.N. Kumar, Company
Employee, Jt. Mrs. C. Rohini |
500 |
|
J. Venkateswarlu, Company
Employee, Jt. Mrs. A. Padmasree |
500 |
|
J. Venkateswarlu, Company
Employee, Jt. Mr. K. Anil Kumar Reddy |
500 |
|
T.B.N. Kumar, Company
Employee, Jt. Mr. I. Sreenivasa Murthy |
500 |
|
T.B.N. Kumar, Company
Employee, Jt. Mr. N.S.S. Sarma |
750 |
|
B. Venkat Reddy |
15000 |
|
K. Bharathi Devi |
500 |
|
Poornachandra Rao Gannamaneni |
2000 |
|
Nagamani Pola |
500 |
|
P.V. Krishna Chaitanya |
500 |
|
M. Bala Amulya |
1500 |
|
TOTAL
|
8322185 |
AS ON 28.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
34.34 |
|
Directors or relatives of Directors |
64.51 |
|
Others |
1.15 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Marketing of transdermal
products for global markets |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
31.03.2011 |
|
Licensed Capacity |
Patches Per
Annum |
1,00,00,000 |
|
|
|
|
|
Installed Capacity |
Patches Per
Annum |
1,00,00,000 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J B Reddy and Company Chartered Accountant |
|
Address : |
Sri Nilaya Estates, Ameerpet, Hyderabad-500073, Andhra Pradesh, India |
|
PAN No.: |
AABFJ3432E |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8322185 |
Equity Shares |
Rs.10/- each |
Rs. 83.222
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 |
83.222 |
73.515 |
69.692 |
|
|
2] Share Application Money |
0.000 |
131.471 |
179.659 |
|
|
3] Reserves & Surplus |
185.328 |
65.502 |
20.889 |
|
|
4] (Accumulated Losses) |
(13.988) |
(6.288) |
0.000 |
|
|
NETWORTH |
254.562 |
264.200 |
270.240 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
254.562 |
264.200 |
270.240 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
167.476 |
174.988 |
179.793 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
7.098 |
3.568 |
0.640 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
10.098
|
7.272 |
6.660 |
|
|
Sundry Debtors |
0.823
|
0.645 |
0.000 |
|
|
Cash & Bank Balances |
71.119
|
67.974 |
80.257 |
|
|
Other Current Assets |
1.371
|
1.552 |
1.605 |
|
|
Loans & Advances |
13.003
|
13.264 |
6.383 |
|
Total
Current Assets |
96.414
|
90.707 |
94.905 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.246
|
0.546 |
5.761 |
|
|
Other Current Liabilities |
15.970
|
4.550 |
0.000 |
|
|
Provisions |
0.663
|
0.576 |
0.101 |
|
Total
Current Liabilities |
16.879
|
5.672 |
5.862 |
|
|
Net Current Assets |
79.535
|
85.035 |
89.043 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.453 |
0.609 |
0.764 |
|
|
|
|
|
|
|
|
TOTAL |
254.562 |
264.200 |
270.240 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
19.272 |
23.515 |
0.000 |
|
|
|
Other Income |
4.181 |
5.840 |
0.406 |
|
|
|
TOTAL |
23.453 |
29.355 |
0.406 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
|
2.640 |
3.331 |
|
|
|
Decrease in Stocks |
|
2.568 |
0.000 |
|
|
|
Salaries, Wages and Other Benefits to Employees |
|
14.161 |
0.981 |
|
|
|
Manufacturing, Administrative, Selling and Other Expenses |
|
10.859 |
0.936 |
|
|
|
Increase in Stock |
(3.629) |
0.000 |
(5.003) |
|
|
|
TOTAL |
26.224 |
30.228 |
0.245 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(2.771) |
(0.873) |
0.161 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
8.459 |
8.355 |
0.688 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX |
(11.230) |
(9.228) |
(0.527) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(3.530) |
(2.928) |
(0.539) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER TAX |
(7.700) |
(6.300) |
0.012 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(6.288) |
0.012 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(13.988) |
(6.288) |
0.012 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials & Packing Material |
0.275 |
4.670 |
3.784 |
|
|
|
Capital Goods |
0.368 |
1.075 |
72.393 |
|
|
TOTAL IMPORTS |
0.643 |
5.745 |
76.177 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
(0.93) |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(32.83)
|
(21.46) |
2.96 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(58.27)
|
(39.24) |
(0.00) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.14)
|
(3.43) |
(0.19) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04)
|
(0.03) |
(0.00) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.07
|
0.02 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.71
|
15.99 |
16.19 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
No |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
BUSINESS
OPERATIONS
The financial year
2010-11 has opened with high hope of more strides with regard to marketing of
Fentanyl Transdermal Patches. Due to the scant response from Dr. Reddy’s
Laboratories Limited (DRL), the marketing agreement with DRL has been amended
converting the exclusivity clause into semi-exclusivity. T here has been a
downward trend in the sale of the products over the financial year 2009-10.
However, to stop this down trend, the Company has entered into marketing and
distribution agreement with M/s. Sandor Medicaids Private Limited, Hyderabad
for marketing Fen-Touch in the Indian market, except four Southern States where
the Company started marketing Fen-Touch on its own.
The sale for the
financial year 2010-11 was recorded at 19.27 million as compared to 23.50
million over the financial year 2009-10. The downward trend in sales can also
be attributable to many hurdles in obtaining the requisite licenses and
multiple-permits at various levels. With a view to ease out these regulatory
barriers, the Company has taken up this issue with the Director General of
Drugs Department, Hyderabad and this is issue is under active consideration by
the Government.
During the year,
the Company has obtained WHO GMP Certification for the balance three strengths
of Fentanyl Patches and the company is having an added advantage of having full
range of Fentanyl Transdermal Patches, i.e. 12.5 mcg/hr, 25 mcg/hr, 50 mcg/hr,
75 mcg/hr and 100 mcg/hr, duly accredited with WHO GMP Certification.
Regarding Ketoprofen
Patch, product registration is completed and site registration is under active
consideration by DCGI which is expected to be received in couple of months.
During the financial year 2011-12, both Diclofenac Patch and Ketoprofen Patch
are planned to be launched.
Phase-III clinical
trials on Indian subjects for Tulobuterol Patches is in the final stage of
completion and it is expected to launch this product during the financial year
2011-12.
FIXED ASSETS
·
Land and Land Development
·
Factory Building
·
Plant and Machinery
·
Computers
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
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. 53.97 |
|
|
1 |
Rs. 87.52 |
|
Euro |
1 |
Rs. 70.84 |
INFORMATION DETAILS
|
Report Prepared by
: |
DPT |
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 |
2 |
|
--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 |
|
26 |
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.