MIRA INFORM REPORT

 

 

Report No. :

312525

Report Date :

17.06.2015

 

IDENTIFICATION DETAILS

 

Name :

PRAKASH BIO PHARMA

 

 

Registered Office :

Shop No.10, Ganpati Bhuvan Building, B.J. Devrukhakar Road, Naigaon, Dadar (East), Mumbai – 400014, Maharashtra

Tel. No.:

91-22-24162893

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation:

01.03.2011

 

 

Capital Investment / Paid-up Capital :

Rs. 22.531 Million

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

ARUPS4006M

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Distributor of pharmaceutical products.

 

 

No. of Employees :

18 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

7STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established proprietary concern having satisfactory track record.

 

General financial position of the company seems to be fair. Rating takes into consideration acceptable networth and profit margin of the company.

 

Trade relations are reported as fair. Business is active. Payment are reported as usually correct. 

 

The concern can be considered normal for business dealings at usual trade terms and conditions.

 

NOTE :

Mr. Nitin, Manager has earlier claimed that the subject was established in the year 2010 but now Mr. Deepak Prakash Shete, Proprietor confirmed that the year establishment is 01.03.2011.

 

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

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Deepak Prakash Shete

Designation :

Proprietor

Contact No.:

91-9819076038

Date :

16.06.2015

 

Name :

Mr. Nitin Sawant

Designation :

Manager

Contact No.:

91-9769932687

Date :

16.06.2015

 

 

LOCATIONS

 

Registered Office :

Shop No.10, Ganpati Bhuvan Building, B.J. Devrukhakar Road, Naigaon, Dadar (East), Mumbai – 400014, Maharashtra, India

Tel. No.:

91-22-24162893

Mobile No.:

91-9769932687 (Mr. Nitin Sawant)

91-9819076038 (Mr. Deepak Prakash Shete)

Fax No.:

91-22-24162893

E-Mail :

prakashbiopharma@gmail.com

Website :

www.prakashbiopharma.com

Area :

500 Sq ft

Location :

Owned

 

 

SOLE PROPRIETOR

 

Name :

Mr. Deepak Prakash Shete

Designation :

Proprietor

Date of Birth/Age :

19.10.1974

Qualification :

B.com 

Address :

10, Ganpati Bhavan, B J Devrukhkar Road, Naigaon, Dadar (East), Mumbai-400 014, Maharashtra, India

Experience :

20 Years

PAN No.:

ARUPS4006M

 

 

KEY EXECUTIVES

 

Name :

Mr. Nitin Sawant

Designation :

Manager

 

 

BUSINESS DETAILS

 

Line of Business :

Distributor of pharmaceutical products.

 

 

Products :

 

 

 

Brand Names :

--

 

 

Agencies Held :
  • Novartis
  • Mylon
  • Agila
  • Neon
  • Cipla

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Credit (30 days)

 

 

Purchasing :

Cash and Credit (30 days)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :
  • Wholesalers
  • Retailers

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

18 (Approximately)

 

 

Bankers :

 

Bank Name

Vaishya Sahakari Bank Limited

Branch

½, Shyam Bhuvan, Jagannath Bhatankar Marg, Parel T T, Parel, Mumbai – 400012, Maharashtra, India

Person Name (With Designation)

Mr. Vasudev Hilwalker [Bank Manager]

Contact Number

91-22-24718345

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Credit Limit : Rs. 8.000 Million

Account Operation

Not Divulged

Remarks (If any)

Mr. Vasudev Hilwalker (Bank Manager) denied to provide his opinion about subject company.

 

Bank Name

IDBI Bank

Branch

Dadar Branch, Mumbai, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Secured Loan

 

 

Bank OD Account

7.103

0.614

Total

7.103

0.614

 

 

Auditors :

 

Name :

Hiren and Company

Chartered Accountants

Address :

12, 2nd Floor, Tejkiran, Tejpal, Road, Vile Parle (West), Mumbai – 400057, Maharashtra, India 

Tel. No.:

91-22-26133731/32

E-Mail :

hirenandco@yahoo.com

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Sister Concern :

---

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Capital Investment :

 

Owned :

Rs. 22.531 Million

Borrowed :

--

Total :

Rs. 22.531 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

PROPRIETOR FUNDS

 

 

 

1] Capital Account

22.531

20.978

1.966

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

0.000

0.000

0.000

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

22.531

20.978

1.966

LOAN FUNDS

 

 

 

1] Secured Loans

7.103

0.616

5.117

2] Unsecured Loans

1.800

0.335

1.835

TOTAL BORROWING

8.903

0.951

6.952

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

31.434

21.929

8.918

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

0.639

0.634

0.431

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

2.267

0.917

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
23.863
11.072
24.732

 

Sundry Debtors
10.902
9.930
1.126

 

Cash & Bank Balances
1.537
2.207
0.332

 

Other Current Assets
0.000
0.000
0.000

 

Loans & Advances
8.451
5.578
2.193

Total Current Assets
44.753
28.787
28.383

Less : CURRENT LIABILITIES & PROVISIONS
 
 
 

 

Sundry Creditors
16.216
7.909
15.669

 

Other Current Liabilities
0.009
0.500
4.227

 

Provisions
0.000
0.000
0.000

Total Current Liabilities
16.225
8.409
19.896

Net Current Assets
28.528
20.378
8.487

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

31.434

21.929

8.918

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

251.828

162.837

113.293

 

 

Other Income

0.647

1.786

0.000

 

 

TOTAL                                    

252.475

164.623

113.293

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

237.999

152.705

108.051

 

 

Advertisement

0.000

0.000

0.043

 

 

Administrative Expenses 

3.730

3.862

0.000

 

 

Bank Charges

0.107

0.000

0.179

 

 

Discount

0.000

0.000

0.675

 

 

Salary

0.000

0.000

0.329

 

 

Telephone Charges

0.000

0.000

0.019

 

 

Computer Expenses

0.000

0.000

0.019

 

 

Rent Paid

0.000

0.000

0.007

 

 

Professional Fes

0.000

0.000

0.025

 

 

Insurance

0.000

0.000

0.056

 

 

Other Expenses

0.000

0.000

0.351

 

 

TOTAL                                    

241.836

156.567

109.754

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

10.639

8.056

3.539

 

 

 

 

 

Less

FINANCIAL EXPENSES                       

0.231

0.130

0.182

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

10.408

7.926

3.357

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

0.092

0.073

0.066

 

 

 

 

 

 

NET PROFIT                

10.316

7.853

3.291

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin
(PAT / Sales)

(%)

4.10

4.82

2.90

 

 

 

 

 

Operating Profit Margin
(PBIDT/Sales)

(%)

4.22

4.95

3.12

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

22.73

26.69

11.42

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.46

0.37

1.67

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.40

0.05

3.54

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.76

3.42

1.43

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Capital Account

1.966

20.978

22.531

Reserves & Surplus

0.000

0.000

0.000

Net worth

1.966

20.978

22.531

 

 

 

 

Secured Loans

5.117

0.616

7.103

Unsecured Loans

1.835

0.335

1.800

Total borrowings

6.952

0.951

8.903

Debt/Equity ratio

3.536

0.045

0.395

 

 

 

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)

Sales

113.293

162.837

251.828

 

 

43.731

54.650

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

113.293

162.837

251.828

Profit

3.291

7.853

10.316

 

2.90%

4.82%

4.10%

 

 

 

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

Yes

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)

No

16

No. of employees

Yes

17

Details of sister concerns

No

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

No

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

No

32

Litigations that the firm/promoter involved in

---

33

Market information

---

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

------------------------------------------------------------------------------------------------------------

 

UNSECURED LOAN

 

(RS. IN MILLION)

 

PARTICULARS

31.03.2014

 

31.03.2013

 

Unsecured Loan

1.800

0.335

Total

1.800

0.335

 

 

------------------------------------------------------------------------------------------------------------

 

NETWORTH STATEMENT

 

MR. DEEPAK PRAKASH SHETE

 

Total Networth

Rs.22.531 Million

 

------------------------------------------------------------------------------------------------------------

 

 

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.64.15

UK Pound

1

Rs.100.03

Euro

1

Rs.72.27

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

SAN

 

 

Report Prepared by :

SNT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

48

 

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

 

--

 

 

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.