MIRA INFORM REPORT
|
Report Date : |
5th May 2006 |
IDENTIFICATION DETAILS
|
Name : |
DENTAL AVENUE PRIVATE LIMITED |
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Registered Office : |
308, Laxmi The Mall, Laxmi
Industrial Estate, New Link Road, Andheri (W), Mumbai-400053, Maharashtra,
India |
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Country : |
India
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
22nd
January, 2004 |
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CIN No.: |
U24230MH2004PTC144163 |
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Com. Reg. No.: |
11-144163 |
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TAN No.: (Tax Deduction &
Collection Account No.) |
MUMD12146B |
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PAN No.: (Permanent Account No.) |
AABCD9228M
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
The
company is engaged in importers and traders of Dental Pharmaceutical Products
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 5000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a relatively new importers and traders of Dental consumables and
equipments. Directors are reported as experienced and respectable
businessmen, trade relations are reported as fair. Business is active.
Payments are usually correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
308, Laxmi The Mall, Laxmi
Industrial Estate, New Link Road, Andheri (W), Mumbai-400053, Maharashtra,
India |
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Tel. No.: |
91-22-56997599 / 9820013631 |
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Fax No.: |
91-22-56750551 |
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E-Mail : |
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Website : |
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Distributors : |
AURANGABAD BARODA BANGALORE CHENNAI COIMBATORE BPO TRIANGLE ROOT ALLIANING
CORPORIAL DELHI
CHANDIGARH GOA INDORE HYDERABAD LUCKNOW DENTAL PHARMA JAIPUR M/s. INDIAN DENTAL
MATERIAL DEPOT., RAJAMUNDRY. |
DIRECTORS
|
Name : |
Mr.
Rajnish Bansilal Verma |
|
Designation : |
Managing
Director |
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Address : |
18/1003,
Indradarshan, Oshiwara, Andheri (W), Mumbai-400053, Maharashtra |
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Date of Birth/Age : |
30/11/1962 |
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Date of Appointment : |
22/01/2004 |
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Name : |
Mr.
Rajnikant Ramanlal Shah |
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Designation : |
Director
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Address : |
504/C,
Golden Chariot, Lokhandwala Complex, Andheri (W), Mumbai – 400053,
Maharashtra |
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Date of Birth/Age : |
24/12/1941 |
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Date of Appointment : |
22/01/2004 |
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MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Mr.
Rajnish Bansilal Verma |
|
900 |
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Mr.
Rajnikant Ramanlal Shah |
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100 |
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BUSINESS DETAILS
|
Line of Business : |
The
company is engaged in importers and traders of Dental Pharmaceutical Products
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Products : |
Dental
Pharmaceutical Products |
GENERAL INFORMATION
|
Suppliers : |
Ø
Dawn India Ø
Dot Express
International Ø
Foments Publications Ø
First Flight
Couriers Ø
Komet Germany Ø
Kuber Stationers and
Xerox Ø
Medi Media India
Private Limited Ø
Net Link Solution Ø
Overnite Express
Limited Ø
Prakash Sales Ø
Prema Enterprises Ø
Sanjyot Laser private
Limited Ø
SDI Limited Australia Ø
Shivam Stationery
Store Ø
Shree Balaji
Enterprises Ø
Siddhi Vinayak Arts Ø
Sushine Tours Ø
The Christmen
Bottomline – 2005 Ø
UT World Wide India
Private Limited Ø
XPS Cargo Services Ø
Gandhi and Company Ø
Shailesh and Company Ø
Rajnish Kumar Verma Current
A/c Ø
Bombay Sales – Tax
payable Ø
Central Sales – Tax
Payable Ø
Delhi Sales – Tax
Payable Ø
Electricity Charges
payable Ø
Rent Payable Ø
Salary Payable Ø
Telephone Charges
Payable |
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Bankers : |
Canara
Bank, Bandra (W), Branch- CA 8356 ICICI
Bank Limited, Andheri (W) Branch – 008180 |
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Facilities : |
ICICI
Bank Limited – Car Term Loan (Honda City) : Rs. 0.587 millions |
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Banking Relations : |
Satisfactory
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Auditors : |
Shailesh
Gandhi and Company Chartered
Accountants 8-1-2,
Mount View, “BHAWANI NAGAR”, Marol Maroshi Road, Marol, Andheri (E), Mumbai –
400059 |
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Tel. No.: |
91-22-28505667 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity
Shares |
Rs. 100/- each |
Rs. 0.500 millions |
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Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity
Shares |
Rs. 100/- each |
Rs. 0.100 millions |
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FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.088 |
(0.016) |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH
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|
0.188 |
0.084 |
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LOAN FUNDS |
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1] Secured Loans |
|
0.587 |
0.000 |
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2] Unsecured Loans |
|
4.781 |
0.051 |
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TOTAL
BORROWING
|
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5.368 |
0.051 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL
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5.556 |
0.135 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
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0.679 |
0.000 |
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Capital work-in-progress
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|
0.000 |
0.000 |
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INVESTMENT
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|
0.000 |
0.000 |
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DEFERREX TAX ASSETS
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|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
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4.079 |
0.000 |
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Sundry Debtors
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|
1.796 |
0.000 |
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Cash & Bank Balances
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|
0.385 |
0.120 |
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Other Current Assets
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|
0.000 |
0.000 |
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Loans & Advances
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|
0.057 |
0.000 |
Total Current Assets
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6.317 |
0.120 |
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
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|
1.417 |
0.016 |
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Provisions
|
|
0.051 |
0.000 |
Total Current Liabilities
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1.468 |
0.016 |
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Net Current
Assets
|
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4.849 |
0.104 |
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MISCELLANEOUS EXPENSES
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|
0.028 |
0.031 |
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TOTAL
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5.556 |
0.135 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
|
31.03.2005 |
31.03.2004 |
Sales Turnover [including other income]
|
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11.332 |
0.000 |
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Profit/(Loss) Before Tax
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0.155 |
(0.016) |
Provision for Taxation
|
|
0.051 |
-- |
Profit/(Loss) After Tax
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|
0.104 |
(0.016) |
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Import Value
|
|
7.651 |
Nil |
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Total Expenditure
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|
0.016 |
15.256 |
KEY RATIOS
|
PARTICULARS |
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|
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
|
0.92 |
-- |
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Net Profit Margin
(PBT/Sales) |
(%) |
|
1.37 |
-- |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
|
2.22 |
(13.33) |
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Return on Investment (ROI)
(PBT/Networth) |
|
|
0.82 |
(0.19) |
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Debt Equity Ratio
(Total Liability/Networth) |
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36.36 |
0.80 |
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Current Ratio
(Current Asset/Current
Liability) |
|
|
4.30 |
7.50 |
LOCAL AGENCY FURTHER INFORMATION
Fixed
Assets :
Ø
Motor Car
Ø
Air conditioner
Ø
Refrigerator
Ø
Computer
Financial
Highlights :
During
the Second year of the operation the Company Turnover of Rs. 11.332 millions is
achieved. The company has increased a profit of Rs. 0.155 millions.
AS PER WEBSITE
Founded
in 2000 ,thru Pharmtech Dental Avenue India Pvt. Ltd is in the business of new
product development and importing Dental consumables and equipment . The key
strengths are customer service, strong management team, and innovative
marketing. For the last two years, the company has grown , and the potential
for further growth remains positive. This is due to offering excellent products
at competitive prices across the entire product line, and giving exceptional
customer service
Dental Avenue India Pvt. Ltd is a registered Marketing
and Distribution company with significant expertise in the area of Dental
equipment and consumables. It was incorporated in 2000. Its operations include
sales and marketing, as well as warehouse operations where it consolidates
products from its overseas suppliers for distribution to different cities
within it's territorial responsibility. The warehouse and Haed office is
located in Mumbai the commercial and financial capital of India to take
advantage of the efficient logistic capability of the large country. From small
beginnings, it is now regarded as a growing player in its area of operation.
Founded by Rajnish Verma aged 40 years with a vast and rich experience in
International Trade specially in the field of healthcare and a team of young
and experienced professionals having experiences in international Pharma trade
for more than ten years. The company
have 15 employees of which 7 are in field sales, with a combined
experience of over 80 years in selling dental and other pharma products .The
company have distribution set ups in
various parts of India. Mumbai being a large and a high-end market is dealt
directly by the sales force and a team of dedicated dealers.
As a leading dental materials importer Dental Avenue
India Pvt. Ltd has worked closely with the dental profession and has been
innovative with it's market research and development, constantly coming up with
new products to meet the changing dental needs with high emphasis on safety,
reliability, biocompatibility and efficacy. Pharmtech also focuses on educating
the end-users of its products on proper usage and actively extends training and
technical support as part of its value-added marketing activities. Some of the leading
Dentists in the country are on the Company's panel as their "Advisors
", incl Dr Anil Arora, who is also the Editor and Publisher of the leading
Dental Magazine of India called ' Famdent ".
Companies represented.
1. SDI, Australia for composites. Pharmtech is the
exclusive representative of SDI for major part of India.
2. Sure Endo, Korea for Gutta Percha points and Absorbent Paper points.
3 .Komet, Germany for Burs
4. KKD, GERMANY - IMPRESSION MATERIAL
5. BIOTECHNOLOGY INSTITUTE, SPAIN - Implants and PRGF system
Always looking ahead, the company select products with high potential in the
Indian Dental market and after initial test marketing the company will sample the products with some senior
Doctors and Hospitals in the country. On receiving their approval and trail
results, the products are registered with the Indian Govt. authorities and
subsequently imported and marketed in the country.
The company are
looking for partners in the Dental field who are keen to promote their brand
and products in the Indian market, which is a becoming a large market and
cannot be ignored.
Products
SDI,
Australia for esthetic range of composites. Dental Avenue India Pvt Ltd. is the
exclusive representative of SDI for major part of India. www.sdi.com.au
POLA - OFFICE/ZING/NIGHT/DAY
[in-office tooth whitening/take home tooth whitening]
SOOTHE
[
desensitizing gel]
ICE
[ANTERIOR AND POSTERIOR ,MICRO HYBRID COMPOSITE ]
[ polishability and strength all in one ]
RIVA SELF
CURE
[ tough strong
& packable glass ionomer restorative ]
WAVE mv, WAVE
hv
[ flouride
releasing flowable composite]
ROK POSTER HYBRID COMPOSITE
[ like amalgam, but
white ]
CONSEAL F
[ fluoride
releasing pit & fissure sealant ]
STAE
[ fluoride
releasing single component adhesive ]
SUPER ETCH
[ 37% phosphoric
acid gel etchant]
LOK
[floride
releasing multi purpose adhesive ]
- Gutta Percha points and Absorbent Paper
points.( for Sure Endo, Korea) www.suredent.com
- Komet, Germany for Burs www.komet.com
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. 44.88 |
|
UK
Pound |
1 |
Rs. 83.46 |
|
Euro |
1 |
Rs. 57.13 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
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 |
|
TOTAL |
|
42 |
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
|
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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |