MIRA
INFORM REPORT
|
Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
D K PHARMA CHEM PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
BAKSHI
PHARMAMIDEATES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
W-5,6,7 / F-32, MIDC, Badlapur, District Thane – 421 503, |
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Country : |
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|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
12.09.1989 |
|
|
|
|
Com. Reg. No.: |
11-053428 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.500
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239MH1989PTC053428 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNED03594D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB4071C |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Chemicals. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 77000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. The management
have failed to file its financial for the year 2012 with the government
department. As per previous year’s record, the external borrowing seems to be
huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be unknown. 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
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/ Factory : |
W-5,6,7 / F-32, MIDC, Badlapur, District Thane – 421 503, Maharashtra,
India |
|
Tel. No.: |
91-251-2690111/ 2691466 |
|
Mobile No.: |
91-9320613171 (Mr. Ajit Hari Behere) |
|
Fax No.: |
91-251-2690366 |
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E-Mail : |
|
|
Website : |
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|
Area: |
5000 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Marketing Office : |
606, 607, Sixth Floor, |
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Tel. No.: |
91-22-42153111, 42153112 |
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Fax No.: |
91-22-42153114 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Rakesh Kasturilal Bakshi |
|
Designation : |
Managing Director |
|
Address : |
“Kasturi”, Plot No.117, Kansai Section, Ambernath (East), District
Thane - 421 501, |
|
Date of Birth/Age : |
18.03.1955 |
|
Date of Appointment : |
12.09.1989 |
|
DIN No.: |
01816757 |
|
|
|
|
Name : |
Mr. Ravinder Kumar Kishorechand Varmani |
|
Designation : |
Director |
|
Address : |
703, Khemchand Apartment, Gol Maidan, Ulhas Nagar - 421 001, |
|
Date of Birth/Age : |
13.04.1949 |
|
Date of Appointment : |
01.04.2006 |
|
DIN No.: |
02395212 |
|
|
|
|
Name : |
Mr. Ajit Hari Behere |
|
Designation : |
Additional Director |
|
Address : |
Dattatraya Sadan, Near Talathi Office, Kulgaon, Badlapur – 421 503, |
|
Date of Birth/Age : |
20.07.1956 |
|
Date of Appointment : |
01.07.2008 |
|
DIN No.: |
02256156 |
|
|
|
|
Name : |
Mr. Karan Rakesh Bakshi |
|
Designation : |
Additional Director |
|
Address : |
“Kasturi”, Plot No.117, Kansai Section, Ambernath (East), District
Thane - 421 501, |
|
Date of Birth/Age : |
07.12.1985 |
|
Date of Appointment : |
11.12.2008 |
|
DIN No.: |
02470601 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rakesh Kasturilal Bakshi |
|
16450 |
|
Alka Rakesh Bakshi |
|
3550 |
|
Karan Rakesh Bakshi |
|
5000 |
|
Vilas Rajaram Harchekar |
|
1 |
|
Bharti Vilas Harchekar |
|
1 |
|
Total |
|
25002 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Chemicals. |
|
|
|
|
Products : |
·
API ·
Intermediates
·
Other Speciality Chemicals |
GENERAL INFORMATION
|
No. of Employees : |
150 (Approximately) |
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Bankers : |
·
State Bank of India, Nhava Seva Branch ·
Dombivli Nagari Sahakari Bank Limited, Sunflower, Shivaji
Chowk, Ambernath Branch, Ambernath –
421 501, Maharashtra, India ·
Jai Hind Bank Limited, Ambernath Branch |
||||||||||||
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Facilities : |
TL / CC / BG Rs.60.000 Millions
(Approximately) (From Dombivli Nagari Sahakari Bank Limited)
|
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Banking
Relations : |
-- |
|
|
|
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Auditors : |
|
|
Name : |
U.P. Pai and Company Chartered Accountants |
|
Address : |
3rd Floor, Patil Bhuvan, Opposite Railway Station, Dombivali
(East) – 421 201, |
|
Tel. No.: |
91-251-2861346/ 2861937 |
|
PAN
No.: |
ABSPP9789L |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000 |
Equity Shares |
Rs.100/- each |
Rs.3.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25002 |
Equity Shares |
Rs.100/- each |
Rs.2.500
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 |
2.500 |
2.500 |
2.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
16.785 |
16.748 |
16.587 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
19.285 |
19.248 |
19.087 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
58.639 |
51.103 |
23.088 |
|
|
2] Unsecured Loans |
24.446 |
24.699 |
31.963 |
|
|
TOTAL BORROWING |
83.085 |
75.802 |
55.051 |
|
|
DEFERRED TAX LIABILITIES |
3.929 |
3.929 |
3.929 |
|
|
|
|
|
|
|
|
TOTAL |
106.299 |
98.979 |
78.067 |
|
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|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
38.634 |
32.882 |
30.277 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.550 |
0.550 |
0.550 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
35.441
|
28.269 |
19.619
|
|
|
Sundry Debtors |
51.696
|
30.765 |
37.716
|
|
|
Cash & Bank Balances |
0.651
|
0.171 |
0.153
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
24.131
|
25.102 |
22.834
|
|
Total
Current Assets |
111.919
|
84.307 |
80.322 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
39.970 |
13.940 |
20.861
|
|
|
Other Current Liabilities |
3.024
|
2.412 |
2.981
|
|
|
Provisions |
1.810
|
2.408 |
9.240
|
|
Total
Current Liabilities |
44.804
|
18.760 |
33.082 |
|
|
Net Current Assets |
67.115
|
65.547 |
47.240
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
106.299 |
98.979 |
78.067 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
184.175 |
137.876 |
NA |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
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|
Administrative Expenses |
NA |
NA |
NA |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.050 |
0.172 |
15.099 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.012 |
0.011 |
2.069 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.038 |
0.161 |
13.030 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
82.994 |
64.715 |
167.870 |
|
|
TOTAL EARNINGS |
82.994 |
64.715 |
167.870 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Materials Purchase |
13.841 |
0.250 |
11.634 |
|
|
TOTAL IMPORTS |
13.841 |
0.250 |
11.634 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.52 |
6.44 |
521.16 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.03
|
0.15 |
13.65
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.01 |
0.79
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.30
|
3.94 |
2.88
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.50
|
4.49 |
2.43
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
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) |
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 |
No |
|
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 OUTLOOK
The turnover of
the Company is increased to Rs.184.175 millions during the year against
turnover of Rs.137.876 millions during previous year. However, the Profit
before taxation is reduced to Rs.0.050 million from Rs.0.172 million. The
decrease is profitability is mainly on account of higher material costs coupled
with increase in administrative and finance expenses.
UNSECURED LOANS
Rs. In Millions
|
Particular |
31.03.2011 Rs. In Millions |
31.03.2010 Rs. In Millions |
|
From Directors |
16.664 |
18.638 |
|
From Shareholders |
7.782 |
6.061 |
|
Total |
24.446 |
24.699 |
CONTINGENT
LIABILITY: (As on 31.03.2011)
There is a contingent liability related to BSR and CST demand for the period
F.Y. 2000-01 to 2004-05 amounting to Rs.4.604 millions.
FIXED ASSETS:
·
Lease Hold Land –
Badlapur
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Electrical
Installations
·
Office Equipments
·
Laboratory Equipments
·
Weighing Equipments
·
Computers
·
R and D Plant and
Machinery
·
R and D Building
·
R and D Furniture
·
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 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.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.