MIRA INFORM REPORT

 

 

Report No. :

316725

Report Date :

13.04.2015

 

IDENTIFICATION DETAILS

 

Name :

DELTA PHARMACEUTICALS (PTY) LTD

 

 

Registered Office :

Plot 68, Unit 8, Gaborone International Commerce Park, Gaborone, P. O. Box 41232, Gaborone

 

 

Country :

Botswana

 

 

Date of Incorporation :

12.03.1994

 

 

Com. Reg. No.:

1994/2853

 

 

Legal Form :

Limited Corporation 

 

 

Line of Business :

Dealers in Pharmaceutical Products and Medicinal Drugs.

 

 

No. of Employees :

100 Employees

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Botswana

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

 

 

BOTSWANA - ECONOMIC OVERVIEW

 

Botswana has maintained one of the world's highest economic growth rates since independence in 1966. However, economic growth was negative in 2009, with the industrial sector shrinking by 30%, after the global crisis reduced demand for Botswana's diamonds. Although the economy recovered in 2010, GDP growth has again slowed. Through fiscal discipline and sound management, Botswana transformed itself from one of the poorest countries in the world to a middle-income country with a per capita GDP of $16,400 in 2013. Two major investment services rank Botswana as the best credit risk in Africa. Diamond mining has fueled much of the expansion and currently accounts for more than one-third of GDP, 70-80% of export earnings, and about one-third of the government's revenues. Botswana's heavy reliance on a single luxury export was a critical factor in the sharp economic contraction of 2009. Tourism, financial services, subsistence farming, and cattle raising are other key sectors. According to official government statistics, unemployment reached 17.8% in 2009, but unofficial estimates run much higher. The prevalence of HIV/AIDS is second highest in the world and threatens Botswana's impressive economic gains. An expected leveling off in diamond production within the next two decades overshadows long-term prospects. A major international diamond company signed a 10-year deal with Botswana in 2012 to move its rough stone sorting and trading division from London to Gaborone by the end of 2013. The move may support Botswana's downstream diamond industry.

 

Source : CIA

 

 

SUBJECT'S NAME

 

Registered Name:

DELTA PHARMACEUTICALS (PTY) LTD

Requested Name:

DELTA PHARMACEUTICALS (PTY) LTD        

Other Names:

None

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

Plot 68, Unit 8, Gaborone International Commerce Park, Gaborone,

Postal Address:

P. o. Box 41232

 

Gaborone

Country:

Botswana

Phone:

267-3919433/3905211/3905201/3937844

Fax:

267-3922740

Email:

info@deltapharma.co.bw

Website:

www.deltapharma.co.bw

 

 

LEGAL

 

Legal Form:

Limited Corporation 

Date Incorporated:

12-March-1994

Reg. Number:

1994/2853

Nominal Capital

BWP. 10,000

Subscribed Capital

BWP. 10,000

Subscribed Capital is Subscribed in the following form:

 

Position

Shares

Mr. Harshad Kumar C. Patel

MD

 

Mr. Anil Kumar C. Patel

CFO

 

Mr. Jitendra Kumar C. Patel

Director

 

Mr. S. Raja

GM

 

Mr. H. Dave

Manager

 

Motovac Group of Companies

Holding Co.

100%

 

 

RELATED COMPANIES

 

Motovac Group of Companies

Parent company.

None

Subsidiary company.

None

Affiliated company.

None

Shareholder of subject firm.

Plot 68, Unit 8, Gaborone International Commerce Park, P.o. Box 41232 Gaborone

Branches of the firm

 

 

OPERATIONS

 

Registered to operate as dealers in pharmaceutical products and medicinal drugs

Imports:

Asia

Exports:

None

Trademarks:

None

Terms of sale:

Cash (40%) and 25-90 days (60%), invoices.

 

 

Main Customers:

firms and organizations  

Employees:

100 employees.

Vehicles:

Several motor vehicles.

Territory of sales:

Botswana

Location:

Owned premises, 60,000 square feet,

 

 

AUDITORS AND INSURANCE

 

Auditors:

Information not available.

Insurance Brokers:

Information not available.

 

 

FINANCE

 

Currency Reported:

Botswana Pula (BWP.)

Approx. Ex. Rate:

1 US Dollar = 9.93 Botswana Pula

Fiscal Year End:

December 31, 2014

Inflation:

According to information given by independent sources, the inflation at December 31st, 2014 was of 13%.

 

Financial Information not Submitted

 

 

 

Profit and Loss (expressed in BWP.)

 

 

2014

Sales

 

35,000,000

 

 

BANK

 

Bank Name:

Stanbic Bank

Branch:

Botswana

Comments:

None

 

 

TRADE REFERENCES

 

Experiences:

Good

                                                                    

 

NOTARIAL BONDS

           

None

 

 

COMMENTS / ADDITIONAL INFORMATION

 

This information was obtained from outside sources other than the subject company itself and confirmed the above subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.37

UK Pound

1

Rs.91.60

Euro

1

Rs.66.49

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIT

 

               

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.