MIRA INFORM REPORT
|
Report Date : |
06.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARCHIMEDIS LABORATORIES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
11-13-1377, Flat No. 105, City Centre, Margadarsi Colony, Kothapet, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2009 |
|
|
|
|
Date of Incorporation : |
24.12.2004 |
|
|
|
|
Com. Reg. No.: |
44970 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24239AP2004PTC044970 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
HYDA05172G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAFCA0358R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Trader of Chemicals and Fine Chemicals, Drug
Intermediates and Bulk Drugs and Formulations. |
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 99000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. 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 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) |
|
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 |
LOCATIONS
|
Registered Office : |
11-13-1377, Flat No. 105, City Centre, Margadarsi Colony, Kothapet, |
|
Tel. No.: |
91-40-24038670 |
|
Fax No.: |
91-40-24038670 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Located at: Survey No. 238 / At Bothigudem Village Nalonda District, |
DIRECTORS
|
Name : |
Mr. Maddi Venkateshwar Reddy |
|
Designation : |
Managing Director |
|
Address : |
10-58, SBI Colony Kothapet, |
|
Date of Birth/Age : |
26.04.1963 |
|
Date of Appointment : |
24.12.2004 |
|
|
|
|
Name : |
Mr. Maddireddy Kesava Reddy |
|
Designation : |
Director |
|
Address : |
H. No. 11-9-321 / 204, Laxmi Nagar, Saroor Nagar, Rangareddy District,
Andhra Pradesh, India |
|
Date of Birth/Age : |
12.11.1940 |
|
Date of Appointment : |
24.12.2004 |
|
|
|
|
Name : |
Mr. Kurapati Koteshwara Reddy |
|
Designation : |
Director |
|
Address : |
114, Ganapathi Complex, Navodaya Colony, Yellareddy Guda, |
|
Date of Birth/Age : |
02.10.1963 |
|
Date of Appointment : |
18.02.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
M. Venkateshwar Reddy |
|
388013 |
|
M. Santakumari |
|
196800 |
|
M. Sarojinidevi |
|
103400 |
|
M. Satyanarayana Reddy |
|
70320 |
|
M .Kesavareddy |
|
95850 |
|
M. Krishna Kumari |
|
42500 |
|
M. Kesavareddy |
|
232287 |
|
M .Aparna |
|
105350 |
|
Tatimatla Kumar |
|
29000 |
|
K. Prathibha |
|
78900 |
|
K. Janardhanareddy |
|
89900 |
|
K. Sridevi |
|
128093 |
|
Chirra Himabindu |
|
86500 |
|
Kandula Swaupa |
|
13400 |
|
V. Sadeep Reddy |
|
70000 |
|
Manukonda Lakshmi |
|
50000 |
|
|
|
|
|
Total |
|
1780313 |
As on 30.09.2009
Equity Share Break up as on
|
S. No. |
Category |
Percentage |
|
1 |
Bodies corporate |
100.00 |
|
|
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Chemicals and Fine Chemicals, Drug
Intermediates and Bulk Drugs and Formulations. |
GENERAL INFORMATION
|
Bankers : |
|
||||||||||||||||
|
|
|
||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
MSPR and Company Chartered Accountant |
|
Address : |
MIG – 6/A, Street No. 3, B.K. Guda, S.R. Nagar, Hyderabad – 500038,
Andhra Pradesh, India |
CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1780313 |
Equity Shares |
Rs.10/- each |
Rs.17.803 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
17.803 |
17.803 |
14.520 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.002 |
|
|
3] Reserves & Surplus |
7.094 |
3.944 |
0.583 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
24.897 |
21.747 |
15.105 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
29.350 |
12.796 |
15.462 |
|
|
2] Unsecured Loans |
1.134 |
2.937 |
2.189 |
|
|
TOTAL BORROWING |
30.484 |
15.733 |
17.651 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
55.381 |
37.480 |
32.756 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
24.225 |
20.364 |
17.751 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.050 |
0.050 |
0.000 |
|
|
DEFERREX TAX ASSETS |
1.799 |
1.073 |
0.430 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
24.666
|
13.340 |
15.142 |
|
|
Sundry Debtors |
18.293
|
21.217 |
9.737 |
|
|
Cash & Bank Balances |
0.493
|
0.001 |
0.086 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
14.451
|
7.713 |
6.971 |
|
Total
Current Assets |
57.903
|
42.271 |
31.936 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
26.852
|
24.591 |
16.163 |
|
|
Provisions |
1.744
|
1.687 |
1.198 |
|
Total
Current Liabilities |
28.596
|
26.278 |
17.361 |
|
|
Net Current Assets |
29.307
|
15.993 |
14.575 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
55.381 |
37.480 |
32.756 |
|
PROFIT & LOSS
ACCOUNT
Not Available
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.37
|
1.93 |
2.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.02
|
1.61 |
1.84 |
LOCAL AGENCY FURTHER INFORMATION
UNSECURED LOANS
Rs.
In Millions
|
Particular |
31.03.2009 |
|
Citi Bank |
0.747 |
|
From Directors and others |
0.387 |
|
|
|
|
Total |
1.134 |
Form 8:
|
Corporate
identity number of the company |
U24239AP2004PTC044970 |
|
Name of the
company |
ARCHIMEDIS LABORATORIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
11-13-1377, Flat No. 105, City Centre, Margadarsi Colony, Kothapet, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property Book Debts Others – Stocks |
|
Particular of
charge holder |
Andhra Bank Limited, Dr. Pattabhi Bhavan, Saifabad, |
|
Nature of
instrument creating charge |
ADHOC Limit of
Rs, 3.000 Millions |
|
Date of
instrument Creating the charge |
31.12.2009 |
|
Amount secured by
the charge |
Rs. 3.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 14% Terms of
Repayment Within 3 months Margin On Stocks 25% and
Debtors 40% Extent and
Operation of the charge Factory – Land
and Building situated in Survey No, 238/at Bothigudem Village Nalgonda
District Owner - Archimedis
Laboratories Private Limited 10 acres of Owner Mr. M Venkateswara Reddy Open Plot No. 160, 161, 164, 165 in Survey No. 196 / A, 201 / A, 202,
203, 204, 215 / Part, 216 and 217 admeasuring 1066.66 Sq. Yards belonging to
Mr. M Kesava Reddy |
|
Short particulars
of the property charged |
Factory – Land
and Building situated in Survey No, 238/at Bothigudem Village Nalgonda
District Owner - Archimedis
Laboratories Private Limited 10 acres of Owner Mr. M Venkateswara Reddy Open Plot No. 160, 161, 164, 165 in Survey No. 196 / A, 201 / A, 202, 203,
204, 215 / Part, 216 and 217 admeasuring 1066.66 Sq. Yards belonging to Mr. M
Kesava Reddy |
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 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.53.29 |
|
|
1 |
Rs.83.97 |
|
Euro |
1 |
Rs.71.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
|
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.