MIRA INFORM REPORT

 

 

Report No. :

498056

Report Date :

21.03.2018

 

 

IDENTIFICATION DETAILS

 

Name :

LEBEN LIFE SCIENCES PRIVATE LIMITED

 

 

Registered Office :

Plot No. C-20/1, C-21 Phase-III, MIDC, Akola – 444104, Maharashtra

Mobile No.:

91-9096050460 (Mr. Manan Haresh Shah)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

17.06.2016

 

 

Com. Reg. No.:

11-282513

 

 

Capital Investment / Paid-up Capital :

INR 0.100 Million

 

 

CIN No.:

[Company Identification No.]

U85197MH2016PTC282513

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AADCL0971B

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader of medicine and drugs. (Registered Activity)

 

 

No. of Employees :

Information declined by the 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

 

Maximum Credit Limit :

USD 16600

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated during June 2016 and it is a trader of medicine and drugs.

 

As per financials of March 2017, the company has registered healthy operations revenue and has reported average profit margin.

 

Rating takes into consideration the company’s sound financial risk profile along with debt free balance sheet and decent liquidity position.

 

Further, the company has reported a good earnings per share of INR 571.79 against its face value of INR 10.

 

However, rating strength is partially offset by limited track record of business operations and intense competition from organised and un-organised player in pharmaceutical industry.

 

Payments seems to be slow but correct.

 

In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions.

 

Note:

 

Site visit was conducted at the registered address which you have provided. Our executive had successfully traced the subject at the given address.

 

At the premises, our executive met security guard but he denied allow him to enter the premises nor allowed to takes pictures of the premises

 

As per our executive’s observation, it is shed type premises Area seems to be neutral. Location is easy to find and locality seems to be commercial. Landmark- Near Office of the Deputy Engineer.

 

During the visit, our executive met neighbour companies (Shetra Vyasthapak and Furniture Nexus) and they claimed that the subject exists on the given address.

 

Name board of the subject was sighted at the premises.

 

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

(30.09.2017)

Current Rating

(31.12.2017)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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 31-03-2016.

 

 

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 21.03.2018

 

 

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 DENIED BY

 

Name :

Mr. Manan Haresh Shah

Designation :

Whole-time Director

Contact No.:

91-9096050460

Date :

21.03.2018

 

 

LOCATIONS

 

Registered Office/ Corporate Office :

Plot No. C-20/1, C-21 Phase-III, MIDC, Akola – 444104, Maharashtra, India

Tel. No.:

91-724-2258393/ 2259501

Mobile No.:

91-9096050460 (Mr. Manan Haresh Shah)

Fax No.:

91-724-2259501

E-Mail :

hra@lebenlifesciences.com

info@lebenlifesciences.com

Locality :

Commercial (At site visit)

 

 

Mumbai Office :

12, Mahavir Mansion, 70, Trinity Street, Mumbai – 400002, Maharshtra, India

Tel. No.:

91-22-22075301

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Haresh Nitilal Shah

Designation :

Managing Director

Address :

Prachi, Plot No.6, Radhe Nagar, Beside Collector Office, Akola – 444001, Maharashtrsa, India

Date of Birth/Age :

27.02.1991

Date of Appointment :

17.06.2016

DIN No.:

00778264

 

 

Name :

Mr. Manan Haresh Shah

Designation :

Whole-time Director

Address :

Prachi Banglow, Near Collectar Office Akola, Akola – 444001, Maharashtra, India

Date of Birth/Age :

19.12.1959

Date of Appointment :

17.06.2016

DIN No.:

07538780

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.03.2017

 

Names of Shareholders

No. of Shares

%age

Haresh Nitilal Shah

5500

55.00

Neeru Haresh Shah

900

9.00

Manan Haresh Shah

3100

31.00

Haresh Nitilal Shah (HUF)

500

5.00

Total

10000

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 31.10.2017

 

Category

Percentage

Promoters (Individual/Hindu Undivided Family-Indian)

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader of medicine and drugs. (Registered Activity)

 

 

Products/ Services :

Item Code No.

Product/ Services Description

30032000

Pharmaceuticals

 

NIC Code No.

Product/ Services Description

3003

Medicine and drugs

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

Not Divulged

Branch

Not Divulged

Person Name (With Designation)

--

Contact Number

--

Name of Account Holder

--

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

--

 

 

 

 

Auditors :

 

Name :

B M Agrawal and Associates

Chartered Accountants

Address :

1st Floor, Nishant Tower, M G Road, Akola – 444001, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AAYPA2141G

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associate concern :

Leben Laboratories Private Limited

 

 

Other Related Parties :

  • Haresh Nitilal Shah (HUF)
  • Elemco

 

 

CAPITAL STRUCTURE

 

As on 31.10.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Shares

INR 10/- each

INR 1.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

INR 10/- each

INR 0.100 Million

 

 

 

 

 

 

 


 

FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

 

31.03.2016

I.      EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

 

0.100

(b) Reserves & Surplus

 

 

5.718

(c) Money received against share warrants

 

 

0.000

 

 

 

 

(2) Share Application money pending allotment

 

 

0.000

Total Shareholders’ Funds (1) + (2)

 

 

5.818

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

 

 

134.733

(b) Deferred tax liabilities (Net)

 

 

0.558

(c) Other long term liabilities

 

 

0.000

(d) Long-term provisions

 

 

0.000

Total Non-current Liabilities (3)

 

 

135.291

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

 

0.000

(b) Trade payables

 

 

16.022

(c) Other current liabilities

 

 

2.468

(d) Short-term provisions

 

 

3.713

Total Current Liabilities (4)

 

 

22.203

 

 

 

 

TOTAL

 

 

163.312

 

 

 

 

II.    ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

 

43.512

(ii) Intangible Assets

 

 

0.000

(iii) Capital work-in-progress

 

 

0.311

(iv) Intangible assets under development

 

 

0.000

(b) Non-current Investments

 

 

0.000

(c) Deferred tax assets (net)

 

 

0.000

(d) Long-term Loan and Advances

 

 

0.000

(e) Other Non-current assets

 

 

0.136

Total Non-Current Assets

 

 

43.959

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

0.000

(b) Inventories

 

 

52.532

(c) Trade receivables

 

 

16.522

(d) Cash and cash equivalents

 

 

39.066

(e) Short-term loans and advances

 

 

2.875

(f) Other current assets

 

 

8.358

Total Current Assets

 

 

119.353

 

 

 

 

TOTAL

 

 

163.312

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.03.2017

 

SALES

 

 

 

 

Income

 

 

151.766

 

Other Income

 

 

2.502

 

TOTAL

 

 

154.268

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

 

0.000

 

Purchases of Stock-in-Trade

 

 

157.061

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

 

(52.532)

 

Employees benefits expense

 

 

16.194

 

Other expenses

 

 

24.082

 

TOTAL

 

 

144.805

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

 

9.463

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

 

0.009

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

 

9.454

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

 

0.178

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

 

9.276

 

 

 

 

 

Less

TAX

 

 

3.558

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

 

5.718

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

 

571.79

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

 

 

31.03.2017

Current Maturities of Long term debt

 

 

0.000

Cash generated from operations

 

 

NA

Net cash flow from operating activity

 

 

NA

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

 

 

31.03.2017

Average Collection Days

(Sundry Debtors / Income * 365 Days)

 

 

39.74

 

 

 

 

Account Receivables Turnover

( Income / Sundry Debtors)

 

 

9.19

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

 

 

37.23

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

 

 

0.18

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

 

 

0.22

 

LEVERAGE RATIOS

 

PARTICULARS

 

 

 

31.03.2017

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

 

 

0.96

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

 

 

23.16

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

 

 

3.82

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

 

 

7.53

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

 

 

1051.44

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

 

 

31.03.2017

Net Profit Margin

[(PAT / Sales) * 100]

%

 

 

3.77

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

 

 

3.50

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

 

 

98.28

 

SOLVENCY RATIOS

 

PARTICULARS

 

 

 

31.03.2017

Current Ratio

(Current Assets / Current Liabilities)

 

 

5.38

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

 

 

3.01

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

 

 

0.04

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

 

 

1347.33

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

 

 

5.38

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

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

No

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

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 about eight months

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for las about eight months

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

 

 

OBSERVATION POINTS

 

Name of Company :

LEBEN LIFE SCIENCES PRIVATE LIMITED

 

 

Address :

Plot No. C-20/1, C-21 Phase-III, MIDC, Akola – 444104, Maharashtra, India

 

 

Person to whom we met :

Security Guard (Name not divulged)

 

 

Name Board :

Sighted

 

 

Location :

Easy

 

 

Landmark (If any) :

Office of the Deputy Engineer

 

 

Total floors of the building :

Shed type premises

 

 

Locality:

Commercial

 

 

Area :

Upmarket

 

 

Neighbour’s Interview

i.Name of company :

Shetra Vyasthapak

 

 

ii.Name of company :

Furniture Nexus

 

 

Neighbour’s Overview :

Existence confirmed

 

 

Proof of visit :

Photographs

 

 

NOTE: The registered office of the company has been shifted from “”C-20/1, C-12 Phase-III, MIDC Akola, Akola – 444104, Maharashtra, India to the present address w.e.f. 12.07.2016

 

 

REVIEW OF BUSINESS OPERATIONS AND FUTURE PROSPECTS

 

During the year the company is able to achieve turnover of INR 154.268 Million. The expenses for the year is INR 144.993 Million. The profit before tax for the period is INR 9.276 Million.

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2017

(INR in Million)

Long-term Borrowings

 

Loans from Directors

97.793

Loans from Shareholders

36.940

Total

134.733

 

 

INDEX OF CHARGES

 

No Charges Exists for Company

 

 

FIXED ASSETS

 

  • Land
  • Building
  • Machinery and Equipment
  • Furniture and Fixtures
  • Computers
  • Office Equipments
  • 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 records 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 65.19

UK Pound

1

INR 91.49

Euro

1

INR 80.46

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

VIV

 

 

Report Prepared by :

SUD

 


 

SCORE FACTORS

 

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

YES

--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)

 

 

 

 

 

 

 

 

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.