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|
MIRA INFORM REPORT
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Report No. : |
486177 |
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Report Date : |
15.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
AIZANT DRUG RESEARCH SOLUTIONS PRIVATE LIMITED (w.e.f. 06.07.2006) |
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Formerly Known
As : |
INNODEV PHARMACEUTICALS PRIVATE LIMITED |
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Registered
Office : |
Survey No. 172/173, Apparel Park Road, Dulapally Village, Qutbullahpur
Mandal, Hyderabad – 500014, Telangana |
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Tel. No.: |
91-40-23792190/91/92 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
22.11.2005 |
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Com. Reg. No.: |
36-048133 |
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Capital
Investment / Paid-up Capital : |
INR 246.913 Million |
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CIN No.: [Company Identification
No.] |
U24239TG2005PTC048133 |
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IEC No.: |
4607000094 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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TIN No.: |
36389899549 |
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PAN No.: [Permanent Account No.] |
AABCI5229B |
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GST No.: |
36AABCI5229B1ZZ |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject
is engaged in Providing Comprehensive Drug Development Resources and
Solutions for Pre-Formulation, Formulation Development, Analytical Development,
Current Good Manufacturing Practice Scale-Up etc. [Registered Activity] |
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|
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No. of Employees
: |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 4232111 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2005 having fine track record. As per the available financials of March 2017, the company has achieved top line growth in its revenue as compared to its previous year along with fair profit margin during the year. Ratings take into consideration healthy financial profile on back of low financial leverage with favourable capital structure and comfortable liquidity position. Rating also takes into consideration the company’s established track record and enjoys strong market position in domestic formulation market. However, ratings strengths are partially offset by exposure to intense competition in pharmaceutical industry. Payments are reported to be regular. In view of aforesaid, the company can be considered 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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
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Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BB+ [Issuer Non-cooperative] |
|
Rating Explanation |
Moderate risk of default |
|
Date |
25.09.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 15.01.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE [91-40-23792190]
LOCATIONS
|
Registered Office : |
Survey No. 172/173, Apparel Park Road, Dulapally Village, Qutbullahpur
Mandal, Hyderabad – 500014, Telangana, India |
|
Tel. No.: |
91-40-23792190/91/92 |
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Fax No.: |
91-40-23792223 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Varma Rudraraju S |
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Designation : |
Managing Director |
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Address : |
3-159, Kompally Village Quthubullapur, Ranga Reddy, Secunderabad-500014, Telangana, India |
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Date of Birth/Age : |
15.08.1967 |
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Qualification : |
MS PHARMA |
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Date of Appointment : |
22.11.2005 |
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PAN No.: |
AGCPP3664R |
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DIN No.: |
01661426 |
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Name : |
Nookala Venkatasatya Surya Lakshmi Narayana |
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Designation : |
Director |
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Address : |
50-49-33, TPT Colony, Vizag-530013, Andhra Pradesh, India |
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Date of Birth/Age : |
30.10.1966 |
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Qualification : |
Graduate |
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Date of Appointment : |
04.12.2008 |
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DIN No.: |
02572688 |
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Name : |
Mrs. Sridevi Sayyaparaju |
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Designation : |
Wholetime Director |
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Address : |
Villa # 130, Indu Fortune Fields, Phase-13, Near Hi-Tech City Railwaystation, KPHB K Ukatpally, Rangareddi-500075, Telangana, India |
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Date of Birth/Age : |
03.10.1969 |
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Qualification : |
MBA |
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Date of Appointment : |
29.09.2012 |
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DIN No.: |
02787978 |
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Name : |
Tirunelveli Padmanabhan Devarajan |
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Designation : |
Director |
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Address : |
10-3-152 (New No 38 St, No 2) East Marredpally, Secunderabad-500026, Andhra Pradesh, India |
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Date of Appointment : |
27.03.2017 |
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DIN No.: |
03473633 |
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KEY EXECUTIVES
|
Name : |
Mr. Vishnu Dadige |
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Designation : |
Company Secretary |
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Address : |
Plot No. 12/1, SY. 385, Shri Krishna Nagar, Sangareddy-502001, Telangana, India |
|
Date of Appointment : |
01.09.2014 |
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PAN No.: |
ANWPD1782H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2016
NOTE: SHAREHOLDING AND ALLOTTEES DETAILS FILE ATTCHED
AS ON: 30.09.2016
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
57.85 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
16.06 |
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Public/Other than promoters - Body Corporate |
3.68 |
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Public/Other than promoters - Venture capital |
4.61 |
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Public/Other than promoters – Others - Foreign Venture Capital |
17.80 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in Providing Comprehensive Drug Development Resources and Solutions
for Pre-Formulation, Formulation Development, Analytical Development, Current
Good Manufacturing Practice Scale-Up etc. [Registered Activity] |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
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Bankers : |
·
Karur Vysya Bank Limited ·
State Bank of India |
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Facilities : |
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Auditors : |
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Name : |
B S R and Company Chartered Accountants |
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Address : |
Reliance Humsafar, IV Floor Road No. 11, Banjara Hills Hyderabad-500
034, Telangana, India |
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PAN No.: |
AAKFB1884H |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26000000 |
Equity Shares |
INR 10/- each |
INR 260.000 Million |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24691276 |
Equity Shares |
INR 10/- each |
INR 246.913 Million |
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FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
246.913 |
203.268 |
203.268 |
|
(b) Reserves and Surplus |
1234.326 |
612.825 |
571.021 |
|
(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) |
1481.239 |
816.093 |
774.289 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
124.139 |
145.069 |
90.245 |
|
(b) Deferred tax liabilities (Net) |
31.352 |
19.534 |
34.378 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
14.288 |
11.951 |
8.947 |
|
Total Non-current
Liabilities (3) |
169.779 |
176.554 |
133.570 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
116.422 |
142.481 |
148.719 |
|
(b) Trade
payables |
142.332 |
99.263 |
82.886 |
|
(c) Other
current liabilities |
109.154 |
93.129 |
75.526 |
|
(d) Short-term
provisions |
2.934 |
2.773 |
4.807 |
|
Total Current
Liabilities (4) |
370.842 |
337.646 |
311.938 |
|
|
|
|
|
|
TOTAL |
2021.860 |
1330.293 |
1219.797 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
551.358 |
402.249 |
426.152 |
|
(ii)
Intangible Assets |
8.380 |
4.704 |
4.397 |
|
(iii) Tangible assets
capital work-in-progress |
275.535 |
290.378 |
87.238 |
|
(iv)
Intangible assets under development |
0.000 |
0.798 |
0.798 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
57.863 |
39.915 |
90.698 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
893.136 |
738.044 |
609.283 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
47.391 |
23.194 |
24.300 |
|
(c) Trade
receivables |
321.310 |
341.613 |
407.977 |
|
(d) Cash and
bank balances |
607.676 |
75.779 |
30.214 |
|
(e)
Short-term loans and advances |
27.721 |
23.995 |
22.313 |
|
(f) Other
current assets |
124.626 |
127.668 |
125.710 |
|
Total
Current Assets |
1128.724 |
592.249 |
610.514 |
|
|
|
|
|
|
TOTAL |
2021.860 |
1330.293 |
1219.797 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1078.493 |
756.035 |
755.694 |
|
|
Other Income |
5.798 |
12.097 |
2.242 |
|
|
TOTAL |
1084.291 |
768.132 |
757.936 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
353.877 |
176.978 |
160.161 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
100.761 |
|
|
Employee benefit expense |
221.888 |
189.453 |
162.944 |
|
|
CSR expenditure |
0.084 |
0.272 |
0.000 |
|
|
Other expenses |
289.591 |
275.958 |
202.725 |
|
|
TOTAL |
865.440 |
642.661 |
626.591 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
218.851 |
125.471 |
131.345 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
20.246 |
15.423 |
13.526 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
198.605 |
110.048 |
117.819 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
48.475 |
42.217 |
48.097 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
150.130 |
67.831 |
69.722 |
|
|
|
|
|
|
|
Less |
TAX |
86.932 |
26.027 |
18.182 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
63.198 |
41.804 |
51.540 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.38 |
2.06 |
2.54 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
22.735 |
20.513 |
12.494 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
234.354 |
223.150 |
110.553 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
144.370 |
163.975 |
52.106 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
108.74 |
164.92 |
197.05 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.36 |
2.21 |
1.85 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
146.81 |
204.72 |
188.89 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
4.62 |
5.41 |
5.41 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.26 |
0.18 |
0.25 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.26 |
0.38 |
0.34 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.18 |
0.38 |
0.32 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.25 |
0.41 |
0.40 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.56 |
0.86 |
0.67 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
10.81 |
8.14 |
9.71 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
5.86 |
5.53 |
6.82 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.13 |
3.14 |
4.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.27 |
5.12 |
6.66 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.04 |
1.75 |
1.96 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.92 |
1.69 |
1.88 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.73 |
0.61 |
0.63 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.07 |
1.52 |
1.24 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.04 |
1.75 |
1.96 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
203.268 |
203.268 |
246.913 |
|
Reserves & Surplus |
571.021 |
612.825 |
1234.326 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
774.289 |
816.093 |
1481.239 |
|
|
|
|
|
|
Long-term borrowings |
90.245 |
145.069 |
124.139 |
|
Short term borrowings |
148.719 |
142.481 |
116.422 |
|
Current maturities of
long-term debts |
12.494 |
20.513 |
22.735 |
|
Total
borrowings |
251.458 |
308.063 |
263.296 |
|
Debt/Equity
ratio |
0.325 |
0.377 |
0.178 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
755.694 |
756.035 |
1078.493 |
|
|
|
0.045 |
42.651 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
755.694 |
756.035 |
1078.493 |
|
Profit/ (Loss) |
51.540 |
41.804 |
63.198 |
|
|
6.82
% |
5.53
% |
5.86
% |
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 |
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 |
No |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G38825782 |
100084586 |
KARUR VYSYA BANK |
23/02/2017 |
- |
- |
374600000.0 |
ROAD NO. 1, BESIDE SANKHYA HOSPITALKUKATPALLY BRANCH,HYDERABADTG500072IN |
|
2 |
G38804753 |
10062175 |
STATE BANK OF INDIA |
21/07/2007 |
23/11/2015 |
23/02/2017 |
327000000.0 |
INDUSTRIAL FINANCE BRANCH, MID CORPORATE GROUPRAJBHAVAN ROAD, SOMAJIGUDAHYDERABADTG500082IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
65.630 |
102.230 |
|
|
|
|
|
Total |
65.630 |
102.230 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Claims against company not acknowledged as debt |
97.644 |
40.062 |
COMPANY OVERVIEW
Subject was incorporated on 22 November 2005 as a private limited company under the provisions of the Companies Act, 1956. The Company has changed its name from Innodev Pharmaceuticals Private Limited to Aizant Drug Research Solutions Private Limited effective 6 July 2006. The Company has started its commercial operations with effect from 1 April 2008. The Company is registered as an Export Oriented Unit (EOU) as per the EOU Scheme with Visakhapatnam Special Economic Zone under the Ministry of Commerce and Industry, Government of India. The Company is engaged in providing comprehensive drug development resources and solutions for pre-formulation, formulation development, analytical development, current good manufacturing practice scale-up etc.
REVIEW OF BUSINESS OPERATIONS
AND FUTURE PROSPECTS
During the financial year ended March 31, 2017, on consolidated basis, the company recorded net revenue from operations of INR 1084.291 million, 41% higher than last year’s net revenues of INR 768.132 million. Earnings before interest, taxes, depreciation and amortization (“EBITDA”) at INR 123.664 million was 71% higher over the EBITDA of INR 211.131 million recorded in the financial year 2016-17.
During the year, the company further consolidated its position as a leading provider of CRO services. Your Company is also taking significant efforts towards strengthening its product portfolio and will emerge as a strong product company in the coming years. You will be happy to note that Aizant’s facility has been approved by the USFDA, ANVISA (Brazilian authorities) and MOH Turkey. Aizant is approved by the Indian authorities (DCGI) and is DSIR certified to carry out drug development activities.
FUTURE OUTLOOK
The Company has always been committed to timely and qualitative delivery of its services to its clientele. They look forward to better year in FY2018, when they will introduce new formulations, further enhance their technological capabilities, maintain best-in-class manufacturing facility, and remain both strategic and nimble in providing complex solutions to meet critical therapeutic needs.
With
the commitment of the Company’s outstanding set of employees and the good
wishes, this company is poised to grow substantially in the coming years.
FIXED ASSETS:
- Building
- Plant and
Machinery
- Office
Equipment
- Computer
- Furniture and
Fixtures
- Vehicles
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
|
INR |
|
US Dollar |
1 |
INR 63.53 |
|
UK Pound |
1 |
INR 86.05 |
|
Euro |
1 |
INR 76.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
RUP |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.