MIRA INFORM REPORT
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Report No. : |
346566 |
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Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
ORISSA DRUGS AND CHEMICALS LIMITED. |
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Registered
Office : |
1, Mancheswar Industrial Estate, Bhubaneswar – 751017,
Orissa |
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Tel. No.: |
91-674-2580250 |
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Country : |
India |
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Financials (as
on) : |
31.03.2002 |
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Date of Incorporation
: |
01.05.1979 |
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Com. Reg. No.: |
15-000821 |
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Capital
Investment / Paid-up Capital : |
Rs.13.215 Million |
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CIN No.: [Company Identification
No.] |
U24232OR1979GOI000821 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of pharmaceutical formulations in the form of
tablets, capsules, powders, and ointments. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Under Liquidation |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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Comments : |
Asper registrar of companies the status of the company is shown as “Under
Liquidation”.
Management of the company has not filed its financial after the year
2002 with the government department. Our executive were unable to contact the subject. Since the company is under liquidation, it cannot be considered
for any business dealings. |
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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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
31-03-2015.
INFORMATION DECLINED
UNABLE TO CONTACT (91-674-2580250 – CONTINUOUSLY RINGING)
LOCATIONS
|
Registered Office : |
1, Mancheswar Industrial Estate, Bhubaneswar – 751017,
Orissa, India |
|
Tel. No.: |
91-674-2580250 |
|
Fax No.: |
91-674-2580248 |
DIRECTORS
NOT AVAILABLE
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOT AVAILABLE
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of pharmaceutical formulations in the form of
tablets, capsules, powders, and ointments. |
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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 : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS: (AS ON 31.03.2002)
|
Particulars |
Unit
|
Installed
Capacity |
Actual
Production |
|
Tables |
Lakhs |
1500 |
1500 |
|
Capsules |
Lakhs |
240 |
240 |
|
Infusions |
Lakhs |
05 |
05 |
|
Ampoules |
Lakhs |
50 |
50 |
|
O R S |
Lakhs |
30 |
30 |
|
Liquid Orals |
KL |
100 |
100 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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Name : |
Agasti and Associates Chartered Accountants |
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Address : |
Plot No.97, Bhol Nagar, Bhubaneshwar -751022, Orissa, India |
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Tel. No.: |
91-674-2542828 |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2002
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1600000 |
Equity Shares |
Rs.10/- each |
Rs. 16.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
1321490 |
Equity Shares |
Rs.10/- each |
Rs. 13.215
Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2002 |
31.03.2001 |
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|
SHAREHOLDERS FUNDS |
|
|
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1] Share Capital |
|
13.215 |
13.215 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(107.098) |
(95.641) |
|
|
NETWORTH |
|
(93.883) |
(82.426) |
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|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
64.558 |
60.194 |
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2] Unsecured Loans |
|
1.685 |
1.685 |
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TOTAL BORROWING |
|
66.243 |
61.879 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
(27.640) |
(20.547) |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
5.927 |
5.689 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
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Inventories |
|
3.115 |
3.981 |
|
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Sundry Debtors |
|
11.570 |
8.999 |
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Cash & Bank Balances |
|
0.098 |
0.092 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
2.784 |
2.401 |
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Total
Current Assets |
|
17.567
|
15.473
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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|
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Sundry Creditors |
|
21.396 |
18.053 |
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Other Current Liabilities |
|
20.347 |
17.666 |
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Provisions |
|
9.391 |
5.990 |
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Total
Current Liabilities |
|
51.134
|
41.709
|
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Net Current Assets |
|
(33.567) |
(26.236) |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
|
(27.640) |
(20.547) |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
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|
|
Income |
|
27.993 |
16.594 |
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Other Income |
|
0.020 |
0.027 |
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TOTAL
(A) |
|
28.013 |
16.621 |
|
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|
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Less |
EXPENSES |
|
|
|
|
|
Stock Accretion / Decretion |
|
1.981 |
(0.868) |
|
|
Consumption of raw materials |
|
13.195 |
6.924 |
|
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Consumption of packing
materials |
|
3.622 |
1.738 |
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Consumption of stores and
spares |
|
0.106 |
0.047 |
|
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Purchase of finished goods |
|
0.114 |
2.576 |
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|
Employees remuneration and
benefits |
|
7.163 |
7.396 |
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Other expenses of
manufacturing administrative and selling and distribution |
|
4.520 |
3.975 |
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TOTAL
(B) |
|
30.701 |
21.788 |
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|
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Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
(2.688) |
(5.167) |
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Less |
FINANCIAL
EXPENSES (D) |
|
5.254 |
5.085 |
|
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(7.942) |
(10.252) |
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Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.551 |
0.535 |
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PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
|
(8.493) |
(10.787) |
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Less |
TAX (H) |
|
0.000 |
0.000 |
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PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
|
(8.493) |
(10.787) |
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Earnings
/ (Loss) Per Share (Rs.) |
|
(6.43) |
NA |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2002 |
31.03.2001 |
|
Current Maturities of Long term debt |
|
NA |
NA |
|
Cash generated from operations |
|
NA |
NA |
|
Net cash flows from (used in) operations |
|
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2002 |
31.03.2001 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
(30.34) |
(65.01) |
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Operating Profit Margin (PBIDT/Sales) |
(%) |
|
(9.60) |
(31.14) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
(36.15) |
(50.97) |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.09 |
0.13 |
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Debt Equity Ratio (Total Debt /Networth) |
|
|
(0.71) |
(0.75) |
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|
Current Ratio (Current Asset/Current Liability) |
|
|
0.33 |
0.36 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2001 |
31.03.2002 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
13.215 |
13.215 |
|
Reserves & Surplus |
0.000 |
0.000 |
|
Money received against share
warrants |
0.000 |
0.000 |
|
(Accumulated Losses) |
(95.641) |
(107.098) |
|
Net worth |
(82.426) |
(93.883) |
|
|
|
|
|
Secured Loans |
60.194 |
64.558 |
|
Unsecured Loans |
1.685 |
1.685 |
|
Total
borrowings |
61.879 |
66.243 |
|
Debt/Equity
ratio |
(0.751) |
(0.706) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2001 |
31.03.2002 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
16.594 |
27.993 |
|
|
|
68.694 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2001 |
31.03.2002 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
16.594 |
27.993 |
|
Profit/Loss |
(10.787) |
(8.493) |
|
|
(65.01%) |
(30.34%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two 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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2002 |
As
on 31.03.2001 |
|
|
|
|
|
Loans advance from IDPL |
0.699 |
0.699 |
|
Loans and advance from IPICOL |
0.986 |
0.986 |
|
Total |
1.685 |
1.685 |
FIXED ASSETS
- Leasehold land
- Building
- Plant and Machinery
- Lab Equipment
- Air conditioner and Refrigeration
- Motor Vehicles
- Office equipment
- Furniture and Fixtures
- Air Conditioner
- Books and Library
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.65.15 |
|
UK Pound |
1 |
Rs.100.54 |
|
Euro |
1 |
Rs.79.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
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.