MIRA INFORM REPORT

 

 

Report No. :

312519

Report Date :

11.05.2015

 

IDENTIFICATION DETAILS

 

Name :

SUYASH AGENCIES

 

 

Registered Office :

Shop No. – 137, 1st Floor, Old Medical Complex, Raipur – 492001, Chhattisgarh

Tel. No.:

91-771-4042009

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015 (Provisional)

 

 

Year of Establishment:

2003

 

 

Capital Investment / Paid-up Capital :

Rs. 7.552 Million

 

 

Company Registered No.:

22571506418

 

 

IEC No.:

Not Available

 

 

Tin No.:

22571506418

 

 

PAN No.:

[Permanent Account No.]

AADPO0316I

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Trading of all type of Medicines.

 

 

No. of Employees :

4 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 22000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established proprietary concern having satisfactory track record.

 

The concern is progressing well. General financial position of the concern is normal and acceptable for business dealings.

 

Trade relations are reported as fair. Business is active. Payment terms 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 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 31-03-2014.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Rakesh Kumar Ochwani

Designation :

Proprietor

Contact No.:

91-9329826978

Date :

29.04.2015

 

 

LOCATIONS

 

Registered Office :

Shop No. – 137, 1st Floor, Old Medical Complex, Raipur – 492001, Chhattisgarh, India 

Tel. No.:

91-771-4042009

Mobile No.:

91-91-9329826978 (Mr. Rakesh Ochwani)

Fax No.:

Not Available

E-Mail :

agencies_suyash@yahoo.in

roshanochwani@yahoo.com

Location :

Owned

 

 

SOLE PROPRIETOR

 

Name :

Mr. Rakesh Kumar Ochwani

Designation :

Proprietor

Address:

Guru kripa Sadan Besides Shani Mandir D.D.U. Srinagar Road, Gudiyari, Raipur, Chhattisgarh, India 

Date of Birth/Age :

39 Years  (21.01.1976)

Qualification :

B. com Final Graduate

Experience:

12 Years

 

 

BUSINESS DETAILS

 

Line of Business :

Trading of all type of Medicines.

 

 

Products :
  • Herclon 440 mg  (Trastuzumab 440 mg)
  • Ristova 100 and 500 mg (Rithuximab)
  • Exxura (Peg Interferon Alfa 2A)

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash, Credit and others

 

 

Purchasing :

Credit

 

 

GENERAL INFORMATION

 

Suppliers :
  • Chandra Bhagat Pharma Private Limited
  • Fountil Life Sciences Private Limited
  • Hetero Healthcare limited
  • Unimark Remedies Limited
  • Roche Product India Private Limited
  • Reliance Life Sciences Private Limited
  • Mahaveer Medicare
  • Aditya Medisales Limited
  • Boehringer Ingelheim India Private Limited

 

Reference :

Baxter India Private Limited

Name of the Person :

Mr. Majit Singh (Manager)

Contact No.:

91-11-45095217

Since How Long Known :

3 Years

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour – Excellent

Market Goodwill - Excellent

Overall - Excellent

Remark:

Mr. Majit informed that they satisfied with their payment behavior overall its good company.

 

 

Customers :

Wholesalers, Retailers and Others

 

Reference :

Hetero Healthcare Limited

Name of the Person :

Mr. Ramkrishna Reddy (Accountant)

Contact No.:

91-9346194309

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

He declined to provide he is opinion.

 

 

No. of Employees :

4 (Approximately)

 

 

Bankers :

Bank Name

Dena Bank

Branch

Gudhiyari Padav,  Raipur, Chhattisgarh, India 

Person Name (With Designation)

Mr. Rakesh Ochwani

Contact Number

91-9329826978

Name of Account Holder

Not Divulged

Account Number

044611023767

Account Since (Date/Year of Account Opening)

2003 Year

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Current Account

Remarks (If any)

Not Divulged

 

 

 

Auditors :

 

Name :

Gopichand Mathani

Chartered Accountants

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Sister Concern:

Not Divulged

 

 

CAPITAL STRUCTURE

 

As on: 31.03.2015 (PROVISIONAL)

 

 

Capital Investment :

 

Owned :

Rs. 7.552 Million

Borrowed :

--

Total :

Rs. 7.552 Million

 

 

FINANCIAL DATA

[All figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2015

(Provisional)

31.03.2014

31.03.2013

SHAREHOLDERS FUNDS

 

 

 

1] Proprietor’s Capital

7.552

5.193

3.742

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

7.552

5.193

3.742

LOAN FUNDS

 

 

 

1] Secured Loans

0.722

0.722

0.793

2] Unsecured Loans

18.522

18.522

12.695

TOTAL BORROWING

19.244

19.244

13.488

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

             26.796

24.437

17.230

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

4.403

4.403

4.246

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
20.834

17.505

9.371

 

Sundry Debtors
5.152

4.973

3.279

 

Cash & Bank Balances
1.759

2.686

4.445

 

Other Current Assets
0.000

0.000

0.000

 

Loans & Advances
0.484

0.501

0.794

Total Current Assets
       28.229

25.665

17.889

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
5.634

5.429

4.615

 

Other Current Liabilities
0.000

0.000

0.000

 

Provisions
0.202

0.202

0.290

Total Current Liabilities
5.836

5.631

4.905

Net Current Assets
22.393

20.034

12.984

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

26.796

24.437

17.230

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

(Provisional)

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

NA

70.867

53.235

 

 

Other Income

NA

0.061

0.018

 

 

TOTAL                                    

NA

70.928

53.253

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of goods sold

64.376

48.051

 

 

Audit Fees Expenses

 

0.008

0.008

 

 

Bank commission

 

0.008

0.011

 

 

Computer Maintenance Expenses

 

0.015

0.014

 

 

Counter Expenses

 

0.031

0.020

 

 

CST Tax Expenses

 

0.002

0.032

 

 

Insurance Expenses

 

0.010

0.011

 

 

Interest Expenses

NA

1.942

1.533

 

 

Interest of Dumartarai Shop

 

0.001

0.036

 

 

Petrol and Maintenance Expenses

 

0.029

0.021

 

 

Salary Expenses

 

0.180

0.144

 

 

Shop Expenses

 

0.042

0.039

 

 

Shop Rent Expenses

 

0.201

0.096

 

 

Telephone Expenses

 

0.043

0.021

 

 

Depreciation

 

0.084

0.078

 

 

Other Expenses

 

1.811

1.414

 

 

TOTAL                                    

NA

68.783

51.529

 

 

 

 

 

 

NET PROFIT

                   NA

2.145

1.724

 

 

                                                                       

                                                                        KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

(Provisional)

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

NA

3.03

3.24

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
                      NA

7.13

7.79

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
NA

0.41

0.46

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 
2.55

3.71

3.60

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
4.84

4.56

3.65

 

 

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 Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

(Provisional)

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

3.742

5.193

7.552

Reserves & Surplus

0.000

0.000

0.000

Net worth

3.742

5.193

7.552

 

 

 

 

Secured Loans

0.793

0.722

0.722

Unsecured Loans

12.695

18.522

18.522

Total borrowings

13.488

19.244

19.244

Debt/Equity ratio

3.604

3.706

2.548

 

 

 

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

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last two years

Yes

12]

Profitability for last three years

No

13]

Reasons for variation <> 20%

--

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

No

17]

Major suppliers

Yes

18]

Major customers

Yes

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

No

21]

Market information

--

22]

Litigations that the firm / promoter involved in

--

23]

Banking Details

Yes

24]

Banking facility details

No

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

 

 

TRADE REFRENCE

  • Rakesh Ochwani
  • Roshan Ochwani

 

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 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.64.05

UK Pound

1

Rs.99.04

Euro

1

Rs.71.76

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

MTN

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--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

 

46

 

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.