MIRA
INFORM REPORT
|
Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
CELOGEN PHARMA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B – 106, Techno
City, X 4/1, TTC Area, M.I.D.C., Mahape, Navi Mumbai – 400705, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.04.2005 |
|
|
|
|
Com. Reg. No.: |
11-152619 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.570
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH2005PTC152619 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG11818C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL1038M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of
Pharmaceutical and Chemical Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 55000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The profit and loss statement of the company for the year 2012 is not
made available. As per available financials, the company is found normal for business
dealings. Trade relations are reported as fair. Business is active. Payment
terms are unknown in absence of complete financials. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 : |
B – 106, Techno
City, X 4/1, TTC Area, M.I.D.C., Mahape, Navi Mumbai – 400705, Maharashtra,
India |
|
Tel. No.: |
91-22-41588700 |
|
Fax No.: |
91-22-41588750 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
R and D Centre : |
Celogen Lifescience and Technologies C-112, Near Inox Air, TTC Industrial Area, MIDC, Pawane,
Navi Mumbai – 400705, Maharashtra, India |
|
Tel. No.: |
91-22-27634778/ 9 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Vijaykumar Raghavan Nair |
|
Designation : |
Managing director |
|
Address : |
Flat No. C-603, Parth CHS, Plot No.228, Sector – 13, Kharghar, Navi
Mumbai – 410210, Maharashtra, India |
|
Date of Birth/Age : |
02.02.1963 |
|
Date of Appointment : |
02.07.2007 |
|
DIN No.: |
00261386 |
|
|
|
|
Name : |
Rabinarayan Nayak |
|
Designation : |
Director |
|
Address : |
C-302, Parth H, 3rd Floor, Plot No. 228, Sector – 13,
Kharghar, Navi Mumbai – 410210, Maharashtra, India |
|
Date of Birth/Age : |
28.05.1975 |
|
Date of Appointment : |
13.04.2005 |
|
DIN No.: |
01650096 |
|
|
|
|
Name : |
Thykoottathil Rajan Matthews |
|
Designation : |
Director |
|
Address : |
Flat No. C/301, Parth, Plot No. 228, Sector – 13, Kharghar, Navi
Mumbai – 410210, Maharashtra, India |
|
Date of Birth/Age : |
26.10.1973 |
|
Date of Appointment : |
27.04.2005 |
|
DIN No.: |
01654813 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vijaykumar Raghvan Nair |
|
52334 |
|
Rabinarayan Nayak |
|
52333 |
|
Thykoottathil Rajan Matthews |
|
52333 |
|
|
|
|
|
Total |
|
157000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Pharmaceutical and Chemical Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Ř Dena Bank, K -
34, APMC Market - 1, Phase - 2, Sector - 19, Turbhe, Navi Mumbai - 400705,
Maharashtra, India Ř IDBI Bank
Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra,
India |
||||||||||||
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|
||||||||||||
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Facilities : |
|
||||||||||||
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
E. A. Patil and Associates Chartered Accountants |
|
Address : |
316, 3rd Floor, Nirman Vyapar Kendra, Sector-17, Vashi, Navi Mumbai –
400705, Maharashtra, India |
|
Tel. No.: |
91-22-39180272/ 39180273/ 39180274/ 39180275/ 67913754 |
|
E-Mail : |
|
|
Website : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
ABDPL2435J |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600,000 |
Equity Shares |
Rs. 10/- each |
Rs. 6.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
157,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.570
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.570 |
0.600 |
0.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
12.209 |
9.500 |
6.425 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
13.779 |
10.100 |
7.025 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7.763 |
8.617 |
2.462 |
|
|
2] Unsecured Loans |
30.277 |
30.506 |
30.789 |
|
|
TOTAL BORROWING |
38.040 |
39.123 |
33.251 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.238 |
|
|
|
|
|
|
|
|
TOTAL |
51.819 |
49.223 |
40.514 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.132 |
5.216 |
3.619 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
2.462 |
|
|
DEFERRED TAX ASSETS |
0.096 |
0.172 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
15.004
|
24.315 |
0.000 |
|
|
Sundry Debtors |
68.045
|
31.160 |
55.920 |
|
|
Cash & Bank Balances |
0.079
|
4.870 |
0.896 |
|
|
Other Current Assets |
9.062
|
18.597 |
35.538 |
|
|
Loans & Advances |
28.128
|
26.574 |
0.295 |
|
Total
Current Assets |
120.318
|
105.516 |
92.649 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
70.443
|
59.663 |
48.376 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
7.673 |
|
|
Provisions |
3.284
|
2.018 |
2.206 |
|
Total
Current Liabilities |
73.727
|
61.681 |
58.255 |
|
|
Net Current Assets |
46.591
|
43.835 |
34.394 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.039 |
|
|
|
|
|
|
|
|
TOTAL |
51.819 |
49.223 |
40.514 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
117.098 |
|
|
|
Other Income |
|
|
9.684 |
|
|
|
TOTAL |
|
138.934 |
126.782 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
136.269 |
123.077 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
2.665 |
3.705 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
N.A.
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
|
N.A.
|
3.705 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
|
N.A.
|
2.720 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
N.A.
|
6.425 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
N.A.
|
61.75 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
N.A.
|
N.A.
|
2.92 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
N.A.
|
N.A.
|
3.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
N.A.
|
2.41 |
3.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
N.A.
|
0.26 |
0.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.76
|
3.87 |
4.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.63
|
1.71 |
1.59 |
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
two years |
Yes |
|
12] |
Profitability for last
two 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) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
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 |
|
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 |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Loans and Advance from Related Parties (Of
the above, is granted by Directors. The terms of payment is on call) |
0.277 |
0.506 |
|
Other Loans and Advances (Of the above, loan
related to project at Celogen Nigeria. The repayment shall be based on the
completion of certain terms of the project.) |
30.000 |
30.000 |
|
Total |
30.277 |
30.506 |
Note:
The registered office of the company has been shifted from A – 502, Tirupati Arcade, Plot No. 7, Sector – 21, Kharghar, Navi Mumbai – 410210, Maharashtra, India to the present address w.e.f.12.03.2010
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U24230MH2005PTC152619 |
|
Name of the
company |
CELOGEN PHARMA
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B – 106, Techno City,
X 4/1, TTC Area, M.I.D.C., Mahape, Navi Mumbai – 400705, Maharashtra,
India Email: sandeep@sppc.co.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Others [Stocks] |
|
Particular of
charge holder |
Dena Bank, K - 34, APMC Market - 1, Phase - 2, Sector - 19, Turbhe,
Navi Mumbai - 400705, Maharashtra, India Email: vastha@denabank.co.in
|
|
Nature of
description of the instrument creating or modifying the charge |
PCH - cum -
FBP/FBN of Rs. 40.000 Millions (with sub limit of LC(I) (F) (DP/DA - 180
days) of Rs. 20.000 Millions, Cash Credit Limit of Rs. 5.000 Millions and
Forward Cover Exposure of Rs.3.600 Millions Dated 17.10.2012. |
|
Date of
instrument Creating the charge |
17.10.2012 |
|
Amount secured by
the charge |
Rs. 43.600
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Base Rate + 2.65 =
13.10% (BR@10.45%). The Applicable interest rate would be indexed to
respective base rate. Base rate is Subject to Changes as per Banks Guidelines
issued from time to time. Terms of Repayment On Demand Margin Packing Credit
(Hypo) - 25% FBP/FBD/FBN- 10% Cash Credit -
Stock - 25% and Book Debts - 50% LC (I/F) (DP/DA -
up to 180 days) - 25% Extent and Operation of the charge First charge on
stocks both present and future and book debts both present and future |
|
Short particulars
of the property charged |
Hypothecation of
stocks and book debts located anywhere in India. As per the
sanction Letter and Charge Deed |
FIXED ASSETS:
Ř Computers and Peripherals
Ř Furniture and Fixtures
Ř Office Equipments
Ř Plant and Machinery
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 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 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. 54.17 |
|
|
1 |
Rs. 82.99 |
|
Euro |
1 |
Rs. 70.62 |
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 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.