MIRA INFORM REPORT

 

 

Report No. :

329322

Report Date :

30.06.2015

 

IDENTIFICATION DETAILS

 

Name :

EVER HEALTH LIFE SCIENCES PRIVATE LIMITED

 

 

Registered Office :

40-15/1-14/1, Brindavan Colony, Labbipet, Vijayawada – 520010, Andhra Pradesh

Tel. No.:

91-866-2477374

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

04.07.2008

 

 

Com. Reg. No.:

01-059985

 

 

Capital Investment / Paid-up Capital :

Rs.0.105 Million

 

 

CIN No.:

[Company Identification No.]

U24233AP2008PTC059985

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

HYDE02040D

 

 

PAN No.:

[Permanent Account No.]

AACCE1985H

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Supplier of Pharmaceutical Intermediates.

 

 

No. of Employees :

120 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (14)

 

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 but correct

 

 

Litigation :

Clear

 

 

Comments :

Even though the company was incorporated on 04th July 2008, it has commence its business activities from financial year 2014.

 

Company have incurred losses from its business operation during the year under review. Rating are constrained on limited track record of the company.

 

Company has incurred pre-operating expenses due to which company has reported accumulated losses which has eroded networth of the company.

 

However, trade relations are improving. Business is active and payments are slow but correct.

 

The company can be considered for normal business dealings with some cautions.

 

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

 

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 (GENERAL DETAILS)

 

Name :

Mr. Chennamraju

Designation :

Accounts Department

Contact No.:

91-8498053218

Date :

29.06.2015

 

 

 

LOCATIONS

 

Registered Office :

40-15/1-14/1, Brindavan Colony, Labbipet, Vijayawada – 520010, Andhra Pradesh, India

Tel. No.:

91-866-2477374

Mobile No.:

91-8498053218 (Mr. Chennamraju)

Fax No.:

91-866-2474770

E-Mail :

subba@everhealthlifesciences.com

Website :

www.everhealthlifesciences.com

 

 

Factory :

Plot No.408 and 419, Apiic Growth Centre, Anna Navi Post, Moddibabu, Ongole, District: Prakasam, Andhra Pradesh, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Vinod Varma Penmetsa

Designation :

Director

Address :

D. No: 32-16-5/1, Raavi Chettu Center, Mogalraj Puram, Vijayawada – 520010, Andhra Pradesh, India

Date of Birth/Age :

23.11.1977

Date of Appointment :

27.08.2009

DIN No.:

01211293

 

 

Name :

Mr. Venkata Sudharshan Subba Raju Kalidindi

Designation :

Director

Address :

40-3-14 Krishna Nagar, Labbipet, Vijaywada – 520010, Andhra Pradesh, India

Date of Birth/Age :

16.08.1974

Date of Appointment :

04.07.2008

DIN No.:

02177801

 

 

KEY EXECUTIVES

 

Name :

Mr. Chennamraju

Designation :

Accounts Department

 

 

 

 

 

 

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

% of Holding

Venkata Sudharshan Subba Raju Kalidindi

5250

50.00

U. Satya Srinivas

5250

50.00

 

 

 

Total

10500

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Supplier of Pharmaceutical Intermediates.

 

 

Products :

Pharmaceutical Intermediates

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

L/C, Cash, Credit

 

 

Purchasing :

L/C, Cash, Credit

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name :

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 :

Company Name :

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 :

120 (Approximately)

 

 

Bankers :

Banker Name :

Syndicate Bank  

Branch :

Labbipet, Vijayawada, Andhra Pradesh, India

Person Name :

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 :

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan) :

Overdraft = Rs.25.000 Million

Term Loan= Rs.36.000 Million

Account Operation :

Not Divulged

Remark :

Not Divulged

 

·         UCO Bank, Jubille Hills Branch (1905), Plot No 490 # 8-2-293, Road No 10 and 22 Corner, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh, India

 

 

Facilities :

SECURED LOANS

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

Long Term Borrowings

 

 

Loans from other parties

47.912

58.245

 

 

 

Total

47.912

58.245

 

Auditors :

 

Name :

EC and Associates

Chartered Accountants

Address :

6-3-582/1, 2nd Floor, Gandhi Thata Nagar, Khairatabad, Hyderabad – 500004, Andhra Pradesh, India

PAN No.:

AACFE6365Q

 

 

Memberships :

Not Divulged

 

 

Collaborators :

Not Divulged

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Shares

Rs.10/- each

Rs.0.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

10500

Equity Shares

Rs.10/- each

Rs.0.105 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

0.105

0.105

0.105

(b) Reserves & Surplus

(21.699)

(21.574)

0.000

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

43.603

37.342

29.342

Total Shareholders’ Funds (1) + (2)

22.009

15.873

29.447

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

114.976

122.552

59.927

(b) Deferred tax liabilities (Net)

1.555

1.535

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

116.531

124.087

59.927

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

0.000

0.000

0.000

(c) Other current liabilities

38.653

23.344

7.543

(d) Short-term provisions

1.925

0.809

0.342

Total Current Liabilities (4)

40.578

24.153

7.885

 

 

 

 

TOTAL

179.118

164.113

97.259

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

139.312

145.480

95.911

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1.681

1.230

0.000

(e) Other Non-current assets

0.000

0.094

0.188

Total Non-Current Assets

140.993

146.804

96.099

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

20.953

9.022

0.000

(c) Trade receivables

15.543

5.535

0.000

(d) Cash and cash equivalents

1.193

0.425

0.064

(e) Short-term loans and advances

0.032

2.160

1.096

(f) Other current assets

0.404

0.167

0.000

Total Current Assets

38.125

17.309

1.160

 

 

 

 

TOTAL

179.118

164.113

97.259

 

 

PROFIT & LOSS ACCOUNT

 

Particulars

 

 

 

31.03.2014

Sales Turnover

 

 

NA

 

 

 

 

Net Profit / (Loss)

 

 

(0.125)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Debt Equity Ratio

(Total Debt /Networth)

 

5.22

7.72

2.04

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.94

0.72

0.15

 

 

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

Share Capital

0.105

0.105

0.105

Reserves & Surplus

0.000

(21.574)

(21.699)

Share Application money pending allotment

29.342

37.342

43.603

Net worth

29.447

15.873

22.009

 

 

 

 

long-term borrowings

59.927

122.552

114.976

Short term borrowings

0.000

0.000

0.000

Total borrowings

59.927

122.552

114.976

Debt/Equity ratio

2.035

7.721

5.224

 

 

 

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

No

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

Yes

26

Turnover of firm for last three years

No

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last one year

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 LOANS:

 

Particulars

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

Long Term Borrowings

 

 

Loans from other parties

67.064

64.307

 

 

 

Total

67.064

64.307

 

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10560022

06/04/2015 *

81,300,000.00

Syndicate Bank

Labbipeta Branch, Fortune Murali Park Road, Mogha
lrajpuram, Vijayawada, Andhra Pradesh – 520010, India

C49454184

 

*Date of modification Charges

 

 

FIXED ASSETS:

 

·         Buildings

·         Computers

·         Furniture and Fittings

·         Land and Buildings

·         Plant and Machinery

·         Welding Machine

·         Air Conditioner

·         Generator

·         Lab Equipment

·         Refrigerator

·         Television

·         Chemical Formulation

·         Mobile Phones

·         Vehicles

·         Electricals

 

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.63.92

UK Pound

1

Rs.100.40

Euro

1

Rs.70.41

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

NKT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILITY

1~10

--

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

--

--CREDIT LINES

1~10

2

--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

 

14

 

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.