MIRA INFORM REPORT
|
Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
DPB ANTIBIOTICS |
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|
|
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Registered
Office : |
507, Exim Link Opposite Indira Container Yard, Near Nahur Railway Station
Nahur (West), Mulund Goregaon Link Road, Bhandup (West), Mumbai – 400078,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Year of
Establishment : |
2003 |
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Capital
Investment: |
Rs.100.000 Millions [As on
31.03.2012] |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Trader, Exporter and Importer of Pharmaceutical APJ like Penicillin, Microlides, Quinolones, Oncology, Hormond, Anti-Ulcer, Cardiac, Steroids. |
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No. of Employees
: |
28 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 400000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established partnership concern having satisfactory
track record. The concern has achieved a decent turnover from its operations. The operation of the concern is carried out effectively. Trade
relations are reported as trustworthy. Business is active. Payments are
reported to be usually correct and as per commitment. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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. Bhavin Ajmera |
|
Designation : |
Partner |
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Contact No.: |
91-22-25628300 |
|
Date : |
27.02.2014 |
LOCATIONS
|
Registered Office : |
507, Exim Link Opposite Indira Container Yard, Near Nahur Railway
Station Nahur (West), |
|
Tel. No.: |
91-22-25628300 |
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Fax No.: |
91-22-25665860 |
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E-Mail : |
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|
Website : |
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Area : |
900 sq. ft. |
|
Location : |
Owned |
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Branch : |
202/C, Saidham Loyola Co-operative Housing Society, Nahur Village
Road, Nahur Gaon, Opposite Hanuman Mandir, Behind Dena Palace, Mulund (W),
Mumbai – 400080, Maharashtra, India |
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Tel. No.: |
91-22-25622560 |
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|
|
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Warehouse : |
Hissa No.4 and 5, h. No.472, Office No.19, C/O., Ganesh Corporation,
Khandagale Estate, Purna Village, Bhiwandi-421302, Thane, Maharashtra, India |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Bhavin Ajmera |
|
Designation : |
Partner |
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|
Name : |
Mr. Devang Ajmera |
|
Designation : |
Partner |
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|
|
|
Name : |
Mr. Piyush Ajmera |
|
Designation : |
Partner |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Pharmaceutical APJ like Penicillin, Microlides, Quinolones, Oncology, Hormond, Anti-Ulcer, Cardiac, Steroids. |
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|
|
|
Products : |
·
Penicillin ·
Microlides ·
Quinolones ·
Oncology ·
Hormond ·
Antiretroviral ·
Cephalosporins ·
Carbapenam ·
Anti-ulcer ·
Antihypertensive ·
Steroids ·
Cardiac |
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Exports : |
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Products : |
Pharmaceutical Formulation |
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Countries : |
·
South America ·
South Africa ·
Nigeria ·
Kenya ·
Gulf Country |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Rachem Pharma Limited · Parabolic Drugs Limited · Harika Drugs Limited · Spansules Pharmtech Limited · Maps Laboratories Private Limited · Smilax Laboratories Limited · Malwa Oxygen and Chemical Private Limited · Shanghai Modern Pharmaceutical Company Limited · Hebei Huaxu Pharmaceutical Company Limited · Shenzen Salubris Pharmaceutical Company Limited · Vasudha Pharma Limited · Chorus Labs Limited · Arihantam Lifecare Limited · Super Life Sciences Private Limited · Abhilasha Pharma Private Limited · Virupaksha Orgenics Limited · Zhejiang Hisun Pharmaceutical Company Limited · Zhejiang Zhenyuan Pharmaceutical Company Limited ·
Changshu Fushilai Medicine And Chemical
Company |
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|
|
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Customers : |
End Users, Supplier ·
Cipla Limited ·
Pfizer Limited ·
Nirma Limited ·
Anuh Pharma Limited ·
Ajanta Pharma Limited ·
Parabolic Drugs Limited ·
Piramal Healthcare Limited ·
Divis Laboratories Limited ·
Medly Pharmaceutical Limited ·
Abbott Laboratories Private Limited ·
Cadila Pharmaceutical Limited ·
Orchid Chemical And Pharmaceutical Limited ·
FDC Limited ·
Lupin Limited ·
Msn Labs Limited ·
Wockhardt Limited ·
Hetero Drugs Limited ·
Glenmark Pharma Limited ·
Aurobindo Pharma Limited ·
Alkem Laboratories Limited ·
Emcure pharmaceutical Limited ·
Covlent Laboratories Limited ·
Aristo Pharmaceutical Private Limited |
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|
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No. of Employees : |
28 (Approximately) |
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Bankers : |
ICICI Bank, Mulund, Mumbai, Maharashtra, India |
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Facilities : |
CC/LC/BC – Rs.150.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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||||||
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Name : |
Jayshree Jain and Company Chartered Accountants |
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Sister Concerns: |
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CAPITAL STRUCTURE
As on 31.03.2012
|
Capital Investment : |
|
|
Owned : |
Rs. 100.000 Millions |
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Borrowed : |
-- |
|
Total : |
Rs. 100.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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|
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Sales Turnover (Approximately) |
1350.000 |
1270.000 |
780.000 |
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Expected Sales (2012-2013): Rs.1500.000 Millions
The above information has been parted by Mr. Bhavin Ajmera (Partner)
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
780.000 |
1,270.000 |
1,350.000 |
|
|
|
62.821 |
6.299 |
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 |
No |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
No |
|
13] |
Reasons for variation
<> 20% |
------ |
|
14] |
Estimation for coming
financial year |
Yes |
|
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) |
Yes |
|
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 |
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 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.61.86 |
|
|
1 |
Rs.103.52 |
|
Euro |
1 |
Rs.85.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
53 |
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.