MIRA INFORM REPORT
|
Report No. : |
338109 |
|
Report Date : |
24.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
UNIMARK REMEDIES LIMITED (w.e.f. 03.05.1995) |
|
|
|
|
Formerly Known
As : |
UNIMARK REMEDIES PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Enterprise Centre, 1st Floor, Orchid Lane, Off. Nehru Road,
Vile Parle (East), Mumbai – 400 099, Maharashtra |
|
Tel. No.: |
91-22-67304168 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
01.12.1993 |
|
|
|
|
Com. Reg. No.: |
11-075373 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.168.895
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23200MH1993PLC075373 |
|
|
|
|
IEC No.: |
0395045347 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU03720G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU0589R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is primarily engaged in the manufacturing of Active
Pharmaceutical Ingredients (“APIs”) and Advanced Intermediates and
also involved in manufacturing and marketing of formulations. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (19) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an
established company having moderate track record. The rating is constrained
on account of company’s moderate operational risk profile and loss that
company has incurred from its operational activities during FY 2014. Moreover,
defaulter check has been done and subject found under RBI defaulter and
defaulted hefty amount with “The Hongkong and Shanghai Banking Corporation
Limited”. Business is
active. Payments are reported to be slow. In view of
aforesaid, the company can be considered for business dealings on safe and
secured 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Loan: BB+ (Suspended) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
December, 2013 |
Reason for suspension:
Inability to carryout rating in the absence of
requisite information from the company.
RBI DEFAULTERS’ LIST STATUS
Subject’s name has been found enlisted as a
defaulter in the publicly available RBI Defaulters’ list and the details of the
same are as under:
Suit-filed accounts of Rs.10.000 million and above as on 21.08.2015
BORROWERS CONTAINING – UNIMARK REMEDIES LIMITED
|
Bank |
Branch |
Quarter |
Borrower Name |
Directors Name |
Outstanding Amount (Rs. in million) |
|
THE HONGKONG AND SHANGHAI BANKING
CORPORATION LIMITED |
MUMBAI |
31.03.2014 |
UNIMARK REMEDIES
LIMITED |
SANDIP JAYANT PAREKH, FADI KHADER SALIM NASSAR |
121.555 |
|
THE HONGKONG AND SHANGHAI BANKING
CORPORATION LIMITED |
MUMBAI |
30.06.2014 |
UNIMARK REMEDIES
LIMITED |
KOPPISETTY SRINIVAS, FADI KHADER SALIM NASSAR |
121.555 |
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 31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Praesh Darji |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-67304168 |
|
Date : |
21.08.2015 |
LOCATIONS
|
Registered Office/ Corporate Office : |
Enterprise Centre, 1st Floor, Orchid Lane, Off. Nehru Road,
Vile Parle (East), Mumbai – 400 099, Maharashtra, India |
|
Tel. No.: |
91-22-26464769/
26040361/ 67304153/ 67304000/ 101/ 100/ 67304168 |
|
Fax No.: |
91-22-67304100/
260/ 26463772/ 26007917 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory 1 : |
41, G.I.D.C.
Industrial Estate, 1st Phase, District Valsad, Vapi – 396 195,
Gujarat, India |
|
Tel. No.: |
91-260-2420639/ 40 |
|
Fax No.: |
91-260-2420161/ 2424390 |
|
|
|
|
Factory 2 : |
337, Kerala
Nalsarovar Road, Taluka Dholka, Village Bavla, Ahmedabad – 380 220, Gujarat,
India |
|
Tel. No.: |
91-2714-304100 |
|
Fax No.: |
91-2714-268381/ 268229 |
|
|
|
|
Factory 3 : |
Building No. AP/2-3, Gala No. 1 to 4, Rajlaxmi commercial Complex, Bhiwandi, Maharashtra, India |
|
|
|
|
Godown : |
Near Marwell
Engineering Works, Koparkhairne, Vashi, Navi Mumbai – 400 705, Maharashtra,
India |
|
Tel. No.: |
91-22-27687728 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Mehul Jayant Parekh |
|
Designation : |
Managing Director |
|
Address : |
12th
Floor, Concord Apartments, Bullock Road, Band Stand, Bandra (West), Mumbai – 400
054, Maharashtra, India |
|
Date of Birth/Age : |
26.11.1958 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
01.08.2009 |
|
DIN No.: |
00026776 |
|
PAN No.: |
AACPP6247L |
|
|
|
|
Name : |
Mr. Harmander Palsingh Chawla |
|
Designation : |
Director |
|
Address : |
1022, Sector 44B, Chandigarh – 160 047,
India |
|
Date of Birth/Age : |
14.04.1940 |
|
Qualification : |
M. Tech, Ph.D |
|
Date of Appointment : |
04.03.2005 |
|
DIN No.: |
00015627 |
|
|
|
|
Name : |
Mr. Sandip Jayant Parekh |
|
Designation : |
Whole-Time Director |
|
Address : |
A-91-92, Shaligram Apartment, Near Umiya Vijay
Society, Behind Satellite Police Station, Ahmedabad – 380 015, Gujarat, India
|
|
Date of Birth/Age : |
24.01.1968 |
|
Qualification : |
M. Sc. (Org. Chem.) from IIT, Mumbai |
|
Date of Appointment : |
01.08.2009 |
|
DIN No.: |
00048033 |
|
PAN No.: |
AACPP6244K |
|
|
|
|
Name : |
Mr. Yogesh Navnitlal Parikh |
|
Designation : |
Whole-Time Director |
|
Address : |
C-36, Gujarati Society, 2nd
Floor, Vile Parle (East), Mumbai – 400 057, Maharashtra, India |
|
Date of Birth/Age : |
03.02.1959 |
|
Qualification : |
B. Com, F.C.A |
|
Date of Appointment : |
01.08.2009 |
|
DIN No.: |
00048121 |
|
PAN No.: |
AACPP6250F |
|
|
|
|
Name : |
Koppisetty Srinivas |
|
Designation : |
Director |
|
Address : |
Flat No.304, Building No.15, Mhada Residential Complex, Oshiwara,
Andheri (West), Mumbai – 400 053, Maharashtra, India |
|
Date of Birth/Age : |
17.05.1963 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.04.2012 |
|
DIN No.: |
00514607 |
|
|
|
|
Name : |
Mr. Omdutt Behari Tyagi |
|
Designation : |
Whole-Time Director |
|
Address : |
B-804, Oberoi Woods, Off. Western Express Highway, Goregaon (East),
Mumbai – 400 063, Maharashtra, India |
|
Date of Birth/Age : |
01.09.1958 |
|
Qualification : |
M.Sc., Phd. |
|
Date of Appointment : |
16.04.2010 |
|
DIN No.: |
03023105 |
|
PAN No.: |
AABPT5413D |
|
|
|
|
Name : |
Mr. Ranchhodlal Kesavlal Shah |
|
Designation : |
Director |
|
Address : |
1601, Somerest, Opposite D-Mart, Hiranandani Gardens, Powai, Mumbai –
400 076, Maharashtra, India |
|
Date of Birth/Age : |
08.04.1944 |
|
Qualification : |
Bachelor of
Science in Chemistry from St. Xavier’s College, B. Sc. – Tech Technology of
Pharmaceuticals and Fine Chemicals Department of Chemical Technology Bombay
University |
|
Date of Appointment : |
17.06.2011 |
|
DIN No.: |
03470002 |
|
|
|
|
Name : |
Fadi
Khader Salim Nassar |
|
Designation : |
Director |
|
Address : |
Marj Al Hammam, Opposite Karyat
Al Nakheel Restaurant, Amman, NA, Jordan |
|
Date of Birth/Age : |
12.09.1963 |
|
Date of Appointment : |
18.03.2014 |
|
DIN No.: |
06845579 |
KEY EXECUTIVES
|
Name : |
Mr. Abdul Latif |
|
Designation : |
Secretary |
|
Address : |
A/303, Anjani Paradise, Salasar Balaji Nagar, Near KA, Mira Road
(East), Mira Bhayander, Thane – 401 107, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1973 |
|
Date of Appointment : |
01.09.2014 |
|
PAN No.: |
ABYPL6631P |
|
|
|
|
Name : |
Mr. Praesh Darji |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
NOTE: SHAREHOLDING
DETAILS FILE ATTACHED.
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
45.96 |
|
Bodies
corporate |
1.33 |
|
Directors
or relatives of directors |
52.70 |
|
Others
|
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the manufacturing of Active
Pharmaceutical Ingredients (“APIs”) and Advanced Intermediates and
also involved in manufacturing and marketing of formulations. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash, Advance Payment and Cheque |
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Purchasing : |
Cash, Advance Payment and Cheque
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PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
·
Export-Import Bank of India, Centre One Building,
Floor 21, World Trade Centre, Complex, Cuffe Parade,, Mumbai – 400 005,
Maharashtra, India ·
The Hongkong and Shanghai Banking Corporation
Limited, 52/60,
Mahatma Gandhi Road, Fort, Mumbai – 400 001, Maharashtra, India ·
DBS Bank Limited, 221, Fort House, 3rd Floor,
D.N. Road, Fort, Mumbai – 400 001, Maharashtra, India · Corporation Bank, 301-302, Eagles Flight, Suren Road, Andheri (East), Mumbai – 400 093, Maharashtra, India ·
Bank of Baroda ·
The Jammu and Kashmir Bank Limited, 79A, Mehta
House, Bombay Samachar Marg, Fort, Mumbai – 400 001, Maharashtra, India ·
New India Co-Operative Bank Limited, Central Credit
Department, Temple View-1, Raheja Township, Malad [East], Mumbai – 400 097,
Maharashtra, India ·
Central Bank of India Limited, M.G. Road Fort,
Mumbai, Mumbai – 400 023, Maharashtra, India ·
IDBI Bank Limited ·
ICICI Bank Limited ·
Bank of Maharashtra, 301, Suraj Bhavan, S V Road, Khar Wesy,
Mumbai – 400 052, Maharashtra, India |
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|
Facilities : |
|
|
Financial Institution : |
IDBI
Trusteeship Services Limited, Asian Building, Ground Floor, 17, R. Kamani Marg,
Ballard Estate, Mumbai – 400 001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Walker, Chandiok
and Company Chartered
Accountants |
|
Address : |
16th Floor, Tower II, Indiabulls Finance Centre, S.B. Marg,
Elphinstone (West), Mumbai – 400 013, Maharashtra, India |
|
Tel. No.: |
91-22-23671623 |
|
Fax No.: |
91-22-23671624 |
|
E-Mail : |
|
|
PAN No.: |
AAAFW4298E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
·
Unimark Remedies Hong Kong Limited, Hong Kong ·
Unimark Remedies S.R.O, Czech Republic ·
Zen Life Sciences Private Limited, India (CIN
No.: U85190MH2008PTC188384) ·
Onkology Kombine Private Limited, India
[(formerly known as Zen Oncology Private Limited) (CIN No.:
U24100MH2009PTC194712)] ·
Unimark Remedies LLC, USA |
|
|
|
|
Associate : |
· KDL Biotech Limited, India (CIN No.: L24230MH1986PLC040603) |
|
|
|
|
Entities in which directors of the Company are
able to exercise control or have significant influence : |
·
Orchid Enterprises, India ·
Syngergia Sciences Private Limited, India |
|
|
|
|
Other Related Parties : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
16889525 |
Equity Shares |
Rs.10/- each |
Rs.168.895
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
168.895 |
168.895 |
168.895 |
|
(b) Reserves & Surplus |
4568.217 |
5318.070 |
5034.339 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
4737.112 |
5486.965 |
5203.234 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
4078.173 |
2138.293 |
2367.070 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
252.956 |
337.721 |
|
(c)
Other long term liabilities |
250.138 |
37.145 |
14.426 |
|
(d)
Long-term provisions |
24.280 |
20.509 |
23.832 |
|
Total
Non-current Liabilities (3) |
4352.591 |
2448.903 |
2743.049 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2831.620 |
2902.882 |
1775.796 |
|
(b)
Trade payables |
529.317 |
697.341 |
1038.319 |
|
(c)
Other current liabilities |
625.520 |
1044.202 |
907.909 |
|
(d)
Short-term provisions |
2.359 |
1.657 |
2.266 |
|
Total
Current Liabilities (4) |
3988.816 |
4646.082 |
3724.290 |
|
|
|
|
|
|
TOTAL |
13078.519 |
12581.950 |
11670.573 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4232.953 |
3631.450 |
3769.277 |
|
(ii)
Intangible Assets |
11.447 |
59.272 |
118.665 |
|
(iii)
Capital work-in-progress |
151.881 |
1078.336 |
801.997 |
|
(iv) Intangible assets under
development or work-in-progress |
2089.353 |
1847.070 |
1305.214 |
|
(b) Non-current
Investments |
130.939 |
130.930 |
130.934 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
331.933 |
367.206 |
287.719 |
|
(e)
Other Non-current assets |
212.585 |
33.472 |
32.853 |
|
Total
Non-Current Assets |
7161.091 |
7147.736 |
6446.659 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2700.924 |
2128.758 |
2001.068 |
|
(c)
Trade receivables |
2184.887 |
2291.173 |
1886.496 |
|
(d)
Cash and cash equivalents |
63.919 |
111.713 |
395.956 |
|
(e)
Short-term loans and advances |
935.526 |
801.899 |
598.433 |
|
(f)
Other current assets |
32.172 |
100.671 |
341.961 |
|
Total
Current Assets |
5917.428 |
5434.214 |
5223.914 |
|
|
|
|
|
|
TOTAL |
13078.519 |
12581.950 |
11670.573 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
4326.979 |
6830.605 |
6478.774 |
|
|
|
Other Income |
34.217 |
43.042 |
48.974 |
|
|
|
TOTAL (A) |
4361.196 |
6873.647 |
6527.748 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3567.682 |
4099.203 |
3796.731 |
|
|
|
Purchases of stock-in-trade |
469.078 |
512.801 |
959.726 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(975.872) |
23.555 |
(527.181) |
|
|
|
Employee benefit expense |
338.996 |
331.554 |
389.003 |
|
|
|
Other expenses |
864.793 |
764.533 |
987.417 |
|
|
|
TOTAL (B) |
4264.677 |
5731.646 |
5605.696 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
96.519 |
1142.001 |
922.052 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
759.718 |
631.846 |
405.040 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(663.199) |
510.155 |
517.012 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
339.610 |
311.186 |
304.828 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(1002.809) |
198.969 |
212.184 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(252.956) |
(84.765) |
(146.439) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(749.853) |
283.734 |
358.623 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
750.817 |
617.086 |
408.466 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
150.000 |
150.000 |
|
|
BALANCE CARRIED
TO THE B/S |
0.964 |
750.817 |
617.088 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of manufactured goods exported |
1453.637 |
2085.127 |
2681.886 |
|
|
TOTAL EARNINGS |
1453.637 |
2085.127 |
2681.886 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1127.040 |
1122.442 |
1944.963 |
|
|
|
Components and spare parts |
0.538 |
0.446 |
285.881 |
|
|
|
Capital Goods |
1.777 |
150.396 |
14.412 |
|
|
TOTAL IMPORTS |
1129.355 |
1273.284 |
2245.256 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(44.40) |
16.80 |
21.71 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term debt |
344.963 |
803.700 |
681.133 |
|
Cash generated
from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(1354.475) |
356.977 |
141.626 |
|
Net cash flows from (used in) operating
activities |
(1359.576) |
325.645 |
87.977 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(17.33) |
4.15 |
5.54 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
2.23 |
16.72 |
14.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.37) |
2.09 |
2.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.21) |
0.04 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.53 |
1.07 |
0.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48 |
1.17 |
1.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Million |
Rs. In Million |
Rs. In Million |
|
Share Capital |
168.895 |
168.895 |
168.895 |
|
Reserves & Surplus |
5034.339 |
5318.070 |
4568.217 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
5203.234 |
5486.965 |
4737.112 |
|
|
|
|
|
|
Long-term borrowings |
2367.070 |
2138.293 |
4078.173 |
|
Short term borrowings |
1775.796 |
2902.882 |
2831.620 |
|
Current Maturities of
Long term debt |
681.133 |
803.700 |
344.963 |
|
Total borrowings |
4823.999 |
5844.875 |
7254.756 |
|
Debt/Equity ratio |
0.927 |
1.065 |
1.531 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Million |
Rs. In Million |
Rs. In Million |
|
Revenue from operations |
6478.774 |
6830.605 |
4326.979 |
|
|
|
5.431 |
(36.653) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Million |
Rs. In Million |
Rs. In Million |
|
Revenue from operations |
6478.774 |
6830.605 |
4326.979 |
|
Profit |
358.623 |
283.734 |
(749.853) |
|
|
5.54% |
4.15% |
(17.33%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity-Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS:
|
Case
Details |
|||||||||
|
Bench:-
Bombay |
|||||||||
|
Presentation Date:- 18/04/2015 |
|||||||||
|
Lodging
No.:- |
NL/793/2015 |
|
|
Filing
Date:- |
18/04/2015 |
||||
|
Reg. No.:- |
N/793/2015 |
|
|
Reg.
Date:- |
18/04/2015 |
||||
|
Main
Matter |
|||||||||
|
Lodging
No.:- |
EXAL/34/2015 |
Reg. No.:-
|
EXA/759/2015 |
||||||
|
|
|
|
|
||||||
|
Petitioner:- |
THE HONG AND
SHANGHAI BANKING CORPORATION LIMITED |
Respondent:- |
UNIMARK REMEDIES
LIMITED |
||||||
|
Petn. Adv:- |
HIREN MEHTA (0) |
|
|
||||||
|
|
|
||||||||
|
District:- |
MUMBAI |
||||||||
|
Bench:- |
SINGLE |
|
|
||||||
|
Status:- |
Pre-Admission |
Under Section:- |
21 |
||||||
|
Act :- |
Code of Civil Procedure 1908 |
|
|
||||||
NATURE OF OPERATIONS:
The Company, a
public limited company was incorporated on 1st December 1993. The
Company is primarily engaged in the manufacturing of Active Pharmaceutical
Ingredients (“APIs”) and Advanced Intermediates. The Company has developed skills
in the areas of process research and development, process chemistry, handling
complex chemical reactions and expertise in marketing of APIs and speciality
intermediates both globally and within India. The Company currently operates
two fully US FDA approved manufacturing units at Bavla near Ahmedabad, and at
Vapi both in the state of Gujarat, India. At both these units the Company also
has state of the art research and development facilities.
The Company is
also involved in manufacturing and marketing of formulations in the Indian
market and also exports such formulations in other unregulated markets.
KEY FINANCIAL HIGHLIGHTS
1. Net sales is down by
Rs.2503.626 million during FY 2013-14, as against a rise of sales by Rs.351.831
million during FY 2012-13.
2. Earnings before Interest
Tax, Depreciation and Amortization (EBITDA) declined to 96.519 million during
FY 2013-14, from Rs.1142.001 million in FY 2012-13.
3. Net profits down to
(Rs.749.853) million during FY 2013-14, as compared to Rs.283.734 million FY
2012-13.
PROFIT AND LOSS HIGHLIGHTS:
1. Material cost has been
increased by 2.88% to Net Sales. In FY 2013-14, material cost is Rs.3060.888
million which is 70.74% of Net Sales. During FY 2012-13, material cost was
Rs.4635.559 million which is 67.86% of Net Sales. The material cost was
increased due to increase in Price and foreign exchange.
2. Personnel cost increased
by Rs.7.443 million to 7.83% of Net Sales, at Rs.338.996 million during FY
2013-14, as against Rs.331.554 million for FY 2012-13
3. Manufacturing and Other
Expenses increased by Rs.100.260 million to 19.99% of Net Sales at Rs.864.793
million during the FY 2013-14 as against Rs.764.533 million during FY 2012-13.
4. Revenue Expenditure on
R&D stands at Rs.53.043 million amounting to 1.23% of Net Sales during FY
2013-14, as against Rs.76.980 million amounting to 1.13% of Net Sales during FY
2012-13.
INDUSTRY OVERVIEW
Indian Economy:
Between 2010 and 2012, the
Gross Domestic Product (GDP) growth at factor cost fell steeply from 8.9% to
4.5%. In 2013, RBI estimated GDP growth at factor cost to be 4.7%, a
significantly lower rate of growth for the Indian Economy, by historical
standards. Over the period 2014-2018, real GDP growth is expected to be around
6.5% an improvement, but still insufficient to absorb an expanding workforce or
to lower unemployment significantly as per IMS Health Prognosis March 2014.
Consumer price inflation is
stubbornly high and is broadly expected to remain so over the next few years.
High oil imports and supply bottlenecks (including foodstuffs) are contributing
to price growth. Moreover, the drop in the rupees value is contributing to the
higher import costs.
Consumer price Inflation
averaged 10.2% in 2012 and declined marginally to 9.5% in 2013, and is expected
to remain above 8% in 2014, before beginning to decline. The Reserve Bank of
India (RBI) held its repurchasing interest rate at 8.00% during the year since
January 2014 to control inflation.
Healthcare Environment:
The existing healthcare system
reflects decades of under-investment in the sector and the failure of
successive governments to implement previous reform plans. The 12th
Five Year Plan summarizes the system major shortcomings as:
The availability of
healthcare services is inadequate, with significant shortages of doctors and
nurses. This extends to both the public and private sector. The situation in
rural India is alarming.
The quality of healthcare
providers varies widely in both the public and private sectors, with many
practitioners in the private sector not properly qualified, reflecting the
inadequate nature of regulations governing providers and poor enforcement of
the standards that do exist. In the public sector, resource shortages and
organizational shortcomings impact the quality of healthcare services
In the absence of
adequately funded public healthcare provision and limited health insurance,
many patients incur heavy out-of-pocket expenses for healthcare services. Even
in the public sector, patients foot much of the bill for outpatient care and
are often forced to purchase their own inpatient medicines due to shortages
before they can be treated in public hospitals.
Pharmaceutical Spending
Patients are heavily exposed
to the cost of pharmaceuticals, reflecting almost the absence of outpatient
drug subsidies and supply issues in public health facilities, which mean that
even inpatients must often purchase their own medicines. In Public health,
where the appropriate products are in stock at hospitals, patients do not need
to incur charges for drugs prescribed to them as in patients. However, Public
sector provision does not cover outpatient drug costs. Further, outpatient drug
benefits are mostly not covered either under public health insurance schemes or
private health plans. As a result, drugs become the main contributors to Out of
Pocket (OOP) spending, accounting for 60- 70% of OOP spends for outpatient
treatment and 40-60% for inpatient treatment, as per an IMS Institute study of
2012, Understanding Healthcare Access in India. That figure could begin to
decline during the next five years as the government begins to roll out a new
initiative under which free essential medicines will be dispensed by public
health facilities. The Indian Pharmaceutical market grew by 9.9% during the
Financial Year 2013-14 and was valued at over Rs.803521 million, slightly lower
than 10.2% clocked in the Financial Year 2012-13 and around 2% lower than
estimates made by IMS Health, a pharmaceutical data research firm, in its
prognosis report of March 2013. The Multinational Pharmaceutical Segment market
share dropped marginally from 29% to 28%, and grew slower at 5.1% during the
Financial Year 2013-14 as against 8.5% in the Financial Year 2012-13. As per
the latest forecast by IMS Health, in its Prognosis of March 2014, the Indian
Pharmaceutical Market is forecasted to grow at a CAGR of 11.6% (3.0%) over the
period 2013-2018 (without considering the impact of the price control announced
by NPPA in July 2014).
Operations Review
During the year, the
Company achieved a turnover of Rs.4326.979 million as against Rs.6830.605
million during the previous year. Other income earned (mainly interest income)
during the year stood at Rs.34.217 million as against Rs.43.042 million in the
previous year. Earnings per share is (Rs.44.40) per share as against Rs.16.80
per share last year. Exports constituted 34.16% of the net turnover.
Operational Highlights
Regulatory markets API
sales (including US and Europe) fall to Rs.549.709 million during FY 2013-14,
down from Rs.596.152 million, FY 2012-13.
The Regulatory Markets
contributed 12.70% of the Net Sales of the Company.
Net
Sales for Indian business is decreased to Rs.2848.842 million during the FY 2013-14
from Rs.4736.642 million, FY 2012-13.
Operational Summary
Active Pharmaceutical Ingredients:
Till date, for the
regulated markets, the Company has filed 54 Drug Master File (DMF) with US FDA.
At present out of that 35 products are commercially accessed by the
Formulators.
Drug Products (Formulations):
The Company is quite
aggressive and implementing the things as per planned strategies by filing its
own ANDAs (Abbreviated New Drug Applications) for US market and Market
Authorisation for European markets. Till date, the Company has filed 18 ANDAs
into various therapeutic segments for US markets (including 5 through Joint
Venture [JV] Partners), 26 marketing authorization for European markets (13
countries) and 2 ANDS (Abbreviated New Drug Submissions) for Canadian market.
During the current
financial year, out of 5 ANDAs filed through JV Partners for US market,
approval for 2 ANDAs are received and 1 of that is already launched and the
other one is being planned to be launched in Q4 of the current financial year.
In Domestic market, the
company has already launched 203 products and about 50 products are expected to
be launched by March 2015.
With all the above efforts,
the Company is in the process of transforming itself to a Dosage manufacturing
company from currently Active Pharmaceutical Ingredient Company.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
LONG-TERM BORROWINGS |
|
|
|
Rupee term loans from others |
60.000 |
30.000 |
|
SHORT-TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
6.496 |
177.551 |
|
Rupee term loans from others |
0.000 |
10.000 |
|
Total
|
66.496 |
217.551 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10504410 |
03/06/2014 |
9,137,500,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001,
INDIA |
C07453889 |
|
2 |
10415530 |
04/05/2013 * |
120,000,000.00 |
BANK OF INDIA |
92/93, FREE PRESS HOUSE, 9TH
FLOOR, FREE PRESS JOURNAL MARG, 215, NARIMAN POINT, MUMBAI, MAHARASHTRA -
400021, INDIA |
B78399441 |
|
3 |
10415825 |
04/05/2013 * |
440,000,000.00 |
BANK OF INDIA |
92-93, FREE PRESS HOUSE, 9TH
FLOOR,, FREE PRESS JOURNAL MARG, 215 NARIMAN POINT, MUMBAI, MAHARASHTRA -
400021, INDIA |
B78399177 |
|
4 |
10384628 |
04/05/2013 * |
180,000,000.00 |
CENTRAL BANK OF INDIA
LIMITED |
M G ROAD FORT, MUMBAI,
MUMBAI, MAHARASHTRA - 400023, INDIA |
B78398815 |
|
5 |
10384627 |
04/05/2013 * |
380,000,000.00 |
CENTRAL BANK OF INDIA |
M G ROAD, FORT, MUMBAI,
MAHARASHTRA - 400023, INDIA |
B78398450 |
|
6 |
10376320 |
04/05/2013 * |
250,000,000.00 |
NEW INDIA CO-OPERATIVE
BANK LIMITED |
CENTRAL CREDIT DEPARTMENT,
TEMPLE VIEW-1, RAHEJA TOWNSHIP- MALAD EAST, MUMBAI, MAHARASHTRA -
400097, INDIA |
B77999803 |
|
7 |
10325574 |
29/12/2011 * |
200,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B29410826 |
|
8 |
10287967 |
03/05/2011 |
350,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL
SERVICES BRANCH, 10/12, 4TH F |
B13346515 |
|
9 |
10277484 |
29/12/2011 * |
900,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B29293628 |
|
10 |
10277523 |
29/12/2011 * |
250,000,000.00 |
THE JAMMU AND KASHMIR
BANK LIMITED |
79A, MEHTA HOUSE, BOMBAY SAMACHAR
MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B30470587 |
|
11 |
10278530 |
04/05/2013 * |
320,000,000.00 |
CORPORATION BANK |
301- 302, EAGLES FLIGHT,
SUREN ROAD, ANDHERI (EAS |
B78259645 |
|
12 |
10278532 |
29/12/2011 * |
400,000,000.00 |
CORPORATION BANK |
301-302, THE EAGLE'S
FLIGHT, SUREN ROAD, OFF. AND HERI KURLA ROAD, ANDHERI (EAST), MUMBAI,
MUMBAI, MAHARASHTRA - 400093, INDIA |
B29286465 |
|
13 |
10270141 |
27/01/2011 |
350,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL
SERVICES FORT BRANCH, 10/12, |
B06214415 |
|
14 |
10256985 |
27/01/2011 * |
100,000,000.00 |
IDBI BANK LIMITED |
SPECIALISED CORPORATE,47,OPUS
CENTRE, GROUND FLOOR, OPPOSITE TUNGA PARADISE HOTEL, MIDC, ANDHERI(EAST),
MUMBAI, MAHARASHTRA - 400093, INDIA |
B06178743 |
|
15 |
10256982 |
27/01/2011 * |
150,000,000.00 |
IDBI BANK LIMITED |
SPECIALISED CORPORATE,47,OPUS
CENTRE, GROUND FLOOR, OPPOSITE TUNGA PARADISE HOTEL, MIDC, ANDHERI(EAST),
MUMBAI, MAHARASHTRA - 400093, INDIA |
B06178214 |
|
16 |
10248453 |
27/01/2011 * |
120,000,000.00 |
EXPORT-IMPORT BANK OF
INDIA |
CENTRE ONE BUILDING, FLOOR
21, WORLD TRADE CENTRE, |
B06398077 |
|
17 |
10224775 |
27/01/2011 * |
240,000,000.00 |
EXPORT-IMPORT BANK OF
INDIA |
CENTRE ONE BUILDING,
FLOOR 21, WORLD TRADE CENTRE, |
B06397640 |
|
18 |
10176412 |
29/09/2009 * |
808,080,000.00 |
THE HONGKONG AND SHANGHAI
BANKING CORPORATION LIMITED |
LEVEL 10, HSBC MAIN BUILDING,
1 QUEEN'S ROAD CENTRAL, HONGKONG, - 9999999, HONG KONG |
A70331483 |
|
19 |
10144308 |
28/09/2010 * |
690,000,000.00 |
DBS BANK LIMITED |
221, FORT HOUSE, 3RD
FLOOR, D.N.ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B37738457 |
|
20 |
10141701 |
04/05/2013 * |
200,000,000.00 |
THE HONGKONG AND SHANGHAI
BANKING CORPORATION LIMITED |
52/60, MAHATMA GANDHI
ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B78381423 |
|
21 |
10101693 |
04/05/2013 * |
313,000,000.00 |
STANDARD CHARTERED BANK |
CRESCENZO, C/38/39,
G-BLOCK, 6TH FLOOR, BEHIND MC |
B78399490 |
|
22 |
10092376 |
06/07/2012 * |
100,000,000.00 |
EXPORT-IMPORT BANK OF
INDIA |
CENTRE ONE BUILDING,
FLOOR 21, WORLD TRADE CENTRE, |
B57509457 |
|
23 |
10090508 |
04/05/2013 * |
447,000,000.00 |
BANK OF MAHARASHTRA |
301, SURAJ BHAVAN, S V
ROAD, KHAR WESY, MUMBAI, MAHARASHTRA - 400052, INDIA |
B78210630 |
|
24 |
10049603 |
15/10/2008 * |
420,000,000.00 |
THE HONGKONG AND SHANGHAI
BANKING CORPORATION LIMITED |
BIRLA HOUSE, 25
BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
A49761505 |
|
25 |
10050722 |
15/10/2008 * |
420,000,000.00 |
THE HONGKONG AND SHANGHAI
BANKING CORPORATION LIMITED |
BIRLA HOUSE, 25
BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
A49760291 |
|
26 |
90164479 |
06/07/2012 * |
290,000,000.00 |
EXPORT-IMPORT BANK OF
INDIA |
CENTRE ONE BUILDING,
FLOOR 21, WORLD TRADE CENTRE, |
B56864432 |
|
27 |
90166825 |
27/01/2011 * |
450,000,000.00 |
STATE BANK OF INDIA |
BACKBAY RECLAMATION
BRANCH, RAHEJA CHAMBERS, FREE PRESS JOURNAL MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA
- 400021, INDIA |
B06400824 |
|
28 |
90164398 |
27/01/2011 * |
210,000,000.00 |
STATE BANK OFTRAVANCORE |
12-115, TULSIANI
CHAMBERS, 1ST FLOOR, WEST WING, 212, NARIMAN POINT, MUMBAI, MAHARASHTRA
- 400021 |
B06274666 |
|
29 |
90165489 |
16/06/2004 * |
62,500,000.00 |
THE HONGKONG AND SHAGAI
BANKING CO. LIMITED |
ECE HOUSE, 228; KASTURBA
GANDHI MARG, NEW DELHI, DELHI, INDIA |
- |
|
30 |
90165477 |
21/03/2003 * |
90,000,000.00 |
STATE BANK OF INDORE |
214; D.N. ROAD, FORT, MUMBAI,
MAHARASHTRA, INDIA |
- |
|
31 |
90166762 |
08/10/2003 * |
90,000,000.00 |
STATE BANK OF INDORE |
214; D.N. ROAD, FORT,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
32 |
80058757 |
29/04/2002 |
798,000.00 |
BANK OF BARODA |
SANTACRUZ (W) BRANCH, MUMBAI,
MAHARASHTRA - 400054, INDIA |
- |
|
33 |
90164223 |
08/10/2003 * |
69,500,000.00 |
CANARA BANK |
TARNARIND LANE, 8/10
CALCOT HOUSE, MUMBAI, MAHARASHTRA, INDIA |
- |
|
34 |
90164094 |
03/05/2011 * |
250,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL
SERVICES BRANCH,, 10/12, 4TH FLOOR, MUMBAI SAMACHAR MARG, FORT, MUMBAI,
MAHARASHTRA - 400023, INDIA |
B13348461 |
|
35 |
90164082 |
30/09/2002 * |
130,000,000.00 |
ICICI LIMITED |
ICICI TOWER, BANDRA KURLA
COMPLEX, MUMBAI, MAHARASHTRA, INDIA |
- |
|
36 |
90165388 |
18/05/2001 * |
130,000,000.00 |
ICICI LIMITED |
ICICI TOWER, BANDRA KURLA
COMPLEX, MUMBAI, MAHARASHTRA, INDIA |
- |
|
37 |
90165381 |
12/03/2009 * |
410,000,000.00 |
CITI BANK N.A. |
CITI TOWER, 61,
DR.S.S.ROAD,, MUMBAI, MAHARASHTRA - 400012, INDIA |
A58138926 |
|
38 |
90163563 |
07/07/1997 |
327,000.00 |
THE SARASWAT CO.OP. BANK
LIMITED |
CENTRAL ADMINISTRTIVE
OFFICE, APSARA CIENMA BUILDING; GRANT ROAD, MUMBAI, MAHARASHTRA - 400007, INDIA |
- |
|
39 |
90163370 |
28/07/1999 * |
10,000,000.00 |
SIDBI |
10/10 MADAN MOHAN MALVIYA
MARG, LUCKNOW, UTTAR PRADESH, INDIA |
- |
|
40 |
90163265 |
28/11/1995 |
3,000,000.00 |
BANK OF MAHARASTRA |
KHAR ROAD BRANCH, BOMBAY,
MAHARASHTRA - 400052, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computers
·
Electrical Incubation
·
Furniture and Fixtures
·
Office Equipments
·
Vehicle
·
R & D Equipment
·
R & D Building
·
Technical Know-how
·
Product Development
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.65.83 |
|
UK Pound |
1 |
Rs.103.39 |
|
Euro |
1 |
Rs.74.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
19 |
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.