|
Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
APNA LIFE SCIENCES |
|
|
|
|
Registered
Office : |
Shop No. 4, Rahjhans Shopping Centre, Opposite UTI Mutual Funds, Tilak
Wadi, Sharnapur Road, Nashik – 422002, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Year of
Establishment : |
2009 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.935 Millions |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAQFA9382H |
|
|
|
|
Legal Form : |
Partnership concern with an unlimited liability of the partners. |
|
|
|
|
Line of Business
: |
Trader of Cancer Medicines. |
|
|
|
|
No. of Employees
: |
4 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 12000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having satisfactory
track record. Trade relations are fair. Business is active. Payment terms reported
to be usually correct. The concern can be considered for the business dealing at usual trade
terms and condition. |
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital firms
in India during 2013, registering a drop of about 18 % over the previous year.
The Information Technology and IT-Enabled Services Industry retained its
status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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.
INFORMATION PARTED BY
|
Name : |
Mr. Ashok Bhandarkar |
|
Designation : |
Account Manager |
|
Contact No.: |
91-8149031842 |
|
Date : |
01.03.2014 |
LOCATIONS
|
Registered Office : |
Shop No. 4, Rahjhans Shopping Centre, Opposite UTI Mutual Funds, Tilak
Wadi, Sharnapur Road, Nashik – 422002, Maharashtra, India |
|
Tel. No.: |
91-253-2318259 |
|
Mobile No.: |
91-8149031842 (Mr. Ashok Bhandarkar) 91-9823625259 (Mr. Pratik) |
|
Fax No.: |
Not Available |
|
E-Mail : |
PARTNERS
|
Name : |
Mr. Pratik Salunkhe |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Dr. Deodatta Chafekar |
|
Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Bhandarkar |
|
Designation : |
Account Manager |
BUSINESS DETAILS
|
Line of Business : |
Trader of Cancer Medicines. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Supplier : |
|
|
|
|
|
Customers : |
End Users
|
|
|
|
|
No. of Employees : |
4 (Approximately) |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dhumal Mahajan and Company (Nitin Mahajan) Chartered Accountants |
|
|
|
|
Sister Concern : |
|
CAPITAL STRUCTURE
Extract Of Capital Accounts : (Mr. Pratik Salunkhe)
|
Particulars |
31.03.2013 Rs. In Millions |
Particulars |
31.03.2013 Rs. In Millions |
|
To Drawings |
0.186 |
By Balance Forward |
0.914 |
|
To Cheque / Cash Withdrawal |
0.300 |
By Cheque / Cash Introduced |
0.483 |
|
To Share of Firm’s Income Tax |
0.029 |
By Interest of capital |
0.093 |
|
|
|
By Remuneration to partners |
0.267 |
|
To Balance Carried Forward |
1.344 |
By share of profits |
0.102 |
|
|
|
|
|
|
Total |
1.859 |
|
1.859 |
Extract Of Capital Accounts : (Dr. Deodatta Chafekar)
|
Particulars |
31.03.2013 Rs. In Millions |
Particulars |
31.03.2013 Rs. In Millions |
|
To Drawings |
0.260 |
By Balance Brought Forward |
0.795 |
|
To Cheque / Cash Withdrawal |
1.500 |
By Cheque / Cash Introduced |
1.800 |
|
To Share of Firm’s Income Tax |
0.043 |
By Interest of capital |
0.244 |
|
|
|
By Remuneration to partners |
0.400 |
|
To Balance Carried Forward |
1.591 |
By share of profits |
0.154 |
|
|
|
|
|
|
Total |
3.394 |
|
3.393 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
|
Capital Account
: |
|
|
|
|
|
Dr. Deodatta Chafekar |
|
|
1.591 |
|
|
Mr. Pratik Salunkhe |
|
|
1.344 |
|
|
NETWORTH |
|
|
2.935 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.935 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
0.000 |
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.122 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Stock in Hand |
|
|
0.789 |
|
|
Sundry Debtors |
|
|
3.561 |
|
|
Cash & Bank Balances |
|
|
0.062 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advance and Deposit |
|
|
0.020 |
|
Total
Current Assets |
|
|
4.432 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1.388 |
|
|
Other Current Liabilities and Provisions |
|
|
0.231 |
|
|
Trade Payable |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
1.619 |
|
|
Net Current Assets |
|
|
2.813 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.935 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
|
31.03.2013 |
|
SALES |
|
|
|
|
Income |
|
|
14.655 |
|
Other Income |
|
|
0.003 |
|
TOTAL
|
|
|
14.658 |
|
|
|
|
|
|
Less : |
|
|
|
|
EXPENSES |
|
|
|
|
Cost of Goods Sold |
|
|
12.411 |
|
Freight and Transport |
|
|
0.120 |
|
Loading and Unloading |
|
|
0.027 |
|
Salaries Expenses |
|
|
0.454 |
|
Accounts Writing Expenses |
|
|
0.049 |
|
Bank Charges |
|
|
0.006 |
|
Business Promotion |
|
|
0.019 |
|
Computer Expenses |
|
|
0.007 |
|
Courier Charges |
|
|
0.021 |
|
Conveyance Expenses |
|
|
0.019 |
|
Electricity Expenses |
|
|
0.007 |
|
Insurance Expenses |
|
|
0.005 |
|
Miscellaneous Expenses |
|
|
0.014 |
|
Shop Expenses |
|
|
0.032 |
|
Shop Rent |
|
|
0.042 |
|
Petrol Diesel |
|
|
0.039 |
|
Repairs and Maintenance |
|
|
0.021 |
|
Printing and Stationery |
|
|
0.018 |
|
Professional Fees |
|
|
0.028 |
|
Telephone Expenses |
|
|
0.027 |
|
Travelling and Conveyance |
|
|
0.008 |
|
Interest to Partners |
|
|
0.337 |
|
Remuneration to Partners |
|
|
0.667 |
|
TOTAL
|
|
|
14.378 |
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE, DEPRECIATION AND
AMORTISATION |
|
|
0.280 |
|
Less : |
|
|
|
|
DEPRECIATION |
|
|
0.023 |
|
|
|
|
|
|
NET
PROFIT |
|
|
0.257 |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
PAT / Total Income |
(%) |
|
|
1.75 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
1.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
5.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
2.74 |
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 |
No |
|
8] |
No.
of employees |
Yes |
|
9] |
Name
of person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover
of firm for last one years |
Yes |
|
12] |
Profitability
for last one 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 |
Yes |
|
17] |
Major
suppliers |
Yes |
|
18] |
Major
customers |
Yes |
|
19] |
Payments
terms |
Yes |
|
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 |
No |
|
25] |
Conduct
of the banking account |
--- |
|
26] |
Buyer
visit details |
--- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
No |
|
29] |
Last
accounts filed at ROC |
No |
|
30] |
Major
Shareholders, if available |
No |
|
31] |
Date
of Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
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.62.07 |
|
|
1 |
Rs.103.61 |
|
Euro |
1 |
Rs.85.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.