MIRA INFORM REPORT

 

 

Report Date :

27.12.2014

 

IDENTIFICATION DETAILS

 

Name :

NIRLIFE MEXICO SA DE CV 

 

 

Registered Office :

Mexico

 

(Note:

Despite our long search, we could not confirm its main address. This may be because the parent company uses its Mexican legal form to introduce its products in the country.)

 

 

Country :

Mexico

 

 

Financials (as on) :

2013

 

 

Date of Incorporation :

01.04.2011

 

 

Legal Form :

Sociedad Anónima de Capital Variable

 

 

Line of Business :

·         Engaged in commercialization of soaps and Surfactants, Healthcare and Processed Minerals Products

 

Subject product ranges includes Hospital Care Products, Disposable Medical Devices, Critical Care Medicines like Anesthesia Products, Plasma Volume Expanders, Total Parenteral Nutrition, Antibiotics, Blood Related Products And Pharmaceutical Formulations like Pain Management Products, Gastric Preparations, Gynecological Preparations, Hormones, Anti-Rheumatoids, Anti-Allergy, Anti-Asthamatics, Growth Preparations, Vasodilators, Diagnostics, Steroids

 

 

No of Employees :

05

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow

Litigation :

Clear 

 

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, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Mexico

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Mexico ECONOMIC OVERVIEW

 

Mexico has a free market economy in the trillion dollar class. It contains a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Since the implementation of the North American Free Trade Agreement (NAFTA) in 1994, Mexico's share of US imports has increased from 7% to 12%, and its share of Canadian imports has doubled to 5.5%. Mexico has free trade agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan - putting more than 90% of trade under free trade agreements. In 2012 Mexico formally joined the Trans-Pacific Partnership negotiations and in July it formed the Pacific Alliance with Peru, Colombia and Chile. In 2007, during its first year in office, the Felipe CALDERON administration was able to garner support from the opposition to successfully pass pension and fiscal reforms. The administration passed an energy reform measure in 2008 and another fiscal reform in 2009. Mexico's GDP plunged 6.2% in 2009 as world demand for exports dropped, asset prices tumbled, and remittances and investment declined. GDP posted positive growth of 5.6% in 2010 with exports - particularly to the United States - leading the way. Growth slowed to 3.9% in 2011 and slightly recovered to 4% in 2012. In November 2012, Mexico's legislature passed a comprehensive labor reform which was signed into law by former President Felipe CALDERON. Mexico's new PRI government, led by President Enrique PENA NIETO, has said it will prioritize structural economic reforms and competitiveness. The new president signed the Pact for Mexico, an agreement that lists 95 priority commitments, along with the leaders of the country's three main political parties: the Institutional Revolutionary Party (PRI), the National Action Party (PAN) and the Party of the Democratic Revolution (PRD).

 

Source : CIA

 

Company information

 

Legal Name:

Nirlife Mexico Sa De Cv

Trade Name:

Nirlife Mexico

RNC:

NA

Date Created:

2011

Date Incorporated:

April 1, 2011

Legal Address:

Mexico

Operative Address:

Mexico

Telephone:

NA

Fax:

NA

Legal Form:

Sociedad Anónima de Capital Variable

Email:

NA

Registered in:

Mexico

Website:

NA

Manager:

Mr. Kalpeshbhai A. Patel, Director

Staff:

5

Activity:

Engaged in commercialization of soaps and Surfactants, Healthcare and Processed Minerals Products

BANKS

BANAMEX

 

The company does not make its banking data public.

HISTORY

 

 

The company was incorporated in Mexico in 2011.

 

Nirlife, a healthcare division of NIRMA, was founded by acquiring a pioneer Pareterals manufacturing giant.

PRINCIPAL ACTIVITY

The company is dedicated to the commercialization of soaps and surfactants, healthcare and processed minerals

Products/Services description:

Hospital care products, Disposable Medical Devices, Critical care medicines like Anesthesia products, Plasma Volume Expanders, Total Parenteral Nutrition, Antibiotics, Blood related products and Pharmaceutical formulations like Pain Management products, Gastric preparations, Gynecological preparations, Hormones, Anti-rheumatoids, Anti-allergy, Anti-Asthamatics, Growth Preparations, Vasodilators, Diagnostics, Steroids, and Many more branded Over The Counter (OTC) products.

Brands:

NIRLIFE, NIRLIFE HEATHCARE, NIRMA

Sales are:

Wholesale

Clients:

Government and semi-government institutions, NGOs, Corporate hospitals, Nursing homes and other pharmaceutical manufacturers. (QUIMICA OCCIDENTAL SA DE CV)

Suppliers:

NIRLIFE HEATHCARE

Operations area:

National

The company imports from

India

The company exports to

No export data

The subject employs

5 employees

Payments:

Slow

LOCATION

 

Headquarters :

 

Branches:

The company does not have branches

GROUP STRUCTURE AND SUBSIDIARY COMPANIES

 

Listed at the stock exchange:

NO

Capital:

0.02

Shareholders %:

This is a private company. It is a wholly owned subsidiary of:

Nirma Ltd
Nirma House, Ashram Road
AHMEDABAD, 380009
India

Dr. Karsanbhai K. Patel, Smt. Shantaben K. Patel, Shri Rakeshbhai K. Patel, Shri Hirenbhai K.  Patel, Kargil Holdings Pvt. Ltd., Uri
Holdings Pvt. Ltd., Leh Holdings Pvt. Ltd., Banihal Holdings Pvt. Ltd. and Kulgam Holdings Pvt. Ltd. are holding totally 95.32% (p.y 94.82%) equity shares in the Company.

Management:

Mr. Kalpeshbhai A. Patel, Director

Related Companies:

Related from Parent company:

Direct Holding
 
Karnavati Holdings Inc. USA
Siddhi Vinayak Cement Pvt.  Ltd.
 
Indirect Holding
 
Searles Valley Minerals Inc. (SVM)
USA (Wholly owned subsidiaries of
Karnavati Holding Inc. USA).
 
Searles Domestic Water Company LLC, Trona Railway Company LLC and
Searles Valley Minerals Europe ( Wholly owned by SVM)

FINANCIAL INFORMATION

 

 

This is a private company (NOT LISTED AT THE STOCK EXCHANGE) which does not make its financial statements public. The following information has been confirmed by our private sources.

 

 

 FINANCIAL FIGURES –YEAR 2013

 

Number of shares held by Nirma Limited

5000

Percentage of Holding

100

Net aggregate amount of subsidiary’s Profits / (Losses) so far it concerns the members of the Holding Company not dealt with in the Holding Company’s Accounts

 

For the current financial year

-0,03

For the previous financial year

-0,02

Net aggregate amount of Profits / (Losses) of subsidiary which has been dealt with in the Accounts of Holding Company

 

For the current financial year

Nil

For the previous financial year

Nil

 

 

 

 

Capital

0.02

Reserves

(0.05)

Total Liabilities

0.57

Total Assets

0.54

Investements

Nil

Turnover 

Nil

Profit before taxation

(0.03)

Provision for taxation

Nil

Profit after taxation

(0.03)

Proposed Dividend

Nil

 

 

 

Converted in ` as per Exchange Rate of ` 54.28 per USD as on 31st March 2013
# Converted in ` as per Exchange Rate of ` 4.4059 per Mexican Pesos as on 31st March 2013

 

Foreign Exchange Department
OVERSEAS INVESTMENT DIVISION
OUTWARD FDI FROM INDIA

(in USD Million)
Equity * 0,0038
Loan * 0,0962
Guarantee Issued * 0
Total 0,1

SUMMARY

 

 

The company is dedicated to the commercialization of soaps and surfactants, healthcare and processed minerals.

The company was incorporated as a subsidiary of Nirma Ltd. in 2011 and would operate as a strategic wholesaler in the country being incorporated to use its legal form in the country.

The financial figures show negative profitability and nil revenue. This may be due to its short experience in the country.

We suggest working with a low credit line and monitoring the company for the following 12 months.

RISK INFORMATION

 

DEBTS

Medium

PAYMENTS

Slow

CASH FLOW

Medium

STATUS

Active

 

 

ENTERVIEW

 

NAME

NA

POSITION

NA

COMMENTS

Despite our long search, we could not connect a telephone number to the company.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.64

UK Pound

1

Rs.98.98

Euro

1

Rs.77.74

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

MNL

 

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 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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.