MIRA
INFORM REPORT
|
Report Date : |
04.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
TRACOM SERVICES
PRIVATE LIMITED |
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Registered Office : |
M -1,
Lajpat Nagar-III, New Delhi - 110 024 |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
25.05.1987 |
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Com. Reg. No.: |
55-28086 |
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CIN No.: [Company
Identification No.] |
U74899DL1987PTC028086 |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Importers,
Distributors and Suppliers of Dental Products |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
Moderate
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Payment Behaviour : |
Slow
but Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is an old and established company having moderate track. Directors are
reported as experienced and respectable businessmen. Company’s profitability
is under severe pressure. It has some accumulated losses. Payments are
reported as slow but correct. The
company can be considered for small business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
M -1,
Lajpat Nagar-III, New Delhi - 110 024 |
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Tel. No.: |
91-11
- 2983 5600 |
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Fax No.: |
91–11-
2984 5048 |
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E-Mail : |
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Website : |
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Location : |
Commercial |
DIRECTORS
|
Name : |
Mr
Pravin Kumar Agrawal |
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Designation : |
Managing
Director |
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Address : |
A-59,
Sector 31, Noida 201 303, Uttar Pradesh |
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Date of Birth/Age : |
18.03.1952 |
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Date of Appointment : |
25.05.1987 |
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Name : |
Ms
Manju Agrawal |
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Designation : |
Director |
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Address : |
A-59,
Sector 31, Noida 201 303, Uttar Pradesh |
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Date of Birth/Age : |
26.06.1955 |
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Date of Appointment : |
25.05.1987 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr.
Pravind Kumar Agrawal |
50 |
1.10 |
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Ms.
Manju Agrawal |
50 |
1.10 |
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Mr. S
K Agrawal |
80 |
1.76 |
|
Ms.
Savitri Agrawal |
80 |
1.76 |
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Mr.
Gopal Agrawal |
70 |
1.54 |
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Mr.
Pradeep Agrawal |
90 |
1.98 |
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Ms.
Rita Goyal |
60 |
1.32 |
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Mr.
Yatish K Agrawal |
60 |
1.32 |
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Ms.
Padma Gupta |
60 |
1.32 |
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Mr. P
K Agrawal |
2,450 |
53.85 |
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Mr.
Archit Agrawal |
1,500 |
32.97 |
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Total |
4,550 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importers,
Distributors and Suppliers of Dental Products |
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Products : |
Dentaurum v Orthodontic Pliers v Brackets v Wires & Arches v MBT-Brackets v Spot Welders v Titanium Casting v Remanium Alloys v Dynamics of Orthodontics Esprident v Camrmen Porcelain v Carmen Shade Guides v Metal Preparation Kit v Ceramic Preparation Kit J. Morita v PanaviaF v Clearfil Liner Bond 2V v Clearfil SE Bond v Alloy Primer v Clearfil Photocore v SB Post v Root - ZX v Tri Auto - ZX v Obtura v Rotary Master v Free Access v Saforide v Teethmate F-1 v Caries Detector v Clearfil AP-X v Vitapex v Dentalis Kez v GP - Solvent v Actus - 5000 v Veraview Epocs v Max F1 v Cone Indictor II v Jetlite v Multi-Task System Hager Werken v Mirafit Posts v Grid Screen Mount v Articulators v Teaching Study Models v Impla Parallel v Miraject Endotec v Mirafill v Compo-Blitz v Airsonic v Mira-2-Ton v Crown Remover v Magna X Viewer v Rubberdam Kit v Polymatic Dual HVE Tip v Uvex Protective Glasses v Miratray v Del-Ject v Emminex Film Holder v Parellometer Mirror v Fit Rubberdam USBiomaterials v PerioGlas v Bone Augmentation Material v Extraction Instruments v Oral & Maxilliofacial Instruments v Conservative Dentistry Instruments v Diagnostic Instruments |
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Imports from : |
Germany,
Japan and USA |
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Terms : |
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Purchasing : |
On
Document Against Payment / DA basis |
GENERAL
INFORMATION
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Distributors : |
Authorised Distributors of the following companies v Dentaurum, Germany (Products: Orthodontic, Titanium and Chrome-Cobalt Laboratory Equipments, Instruments and Materials.) v Hager and Werken, Germany (Products: Hand Instruments meant for various branches of Dentistry as well as Educational Study Models) v Hammacher, Germany (Products: Hand Instruments for Extracting, Diagnostic, Operative and Conservative, Oral and Maxillofacial Surgery, Micro Surgery and Dental Laboratory) v Esprident, Germany (Products: Carmen Procelain Material) v J Mortia Corporation, Japan (Dental Chairs, X-rays, Tri-Auto ZX, Jelite PanaviaF, Clearfil Liner Bond 2V and Clearfil materials of Kuraray) v US Biomaterials Corporation, USA |
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Bankers : |
Syndicate
Bank |
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Facilities : |
-- |
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Banking Relations : |
-- |
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Auditors : |
Goel
& Joshi Associates Chartered
Accountants |
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Address: |
6048/3,
Block No. 2, Dev Nagar, Karol Bagh, New Delhi 110 005 |
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Tel. No.: |
91-11-25755681 |
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Mobile No.: |
91-9810640040 |
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Fax No.: |
91-11-25731559 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10,000 |
Equity
Shares |
Rs.100 /- each |
Rs. 1.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
4,550 |
Equity
Shares |
Rs.100 /- each |
Rs. 0.455 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
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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0.455 |
0.455 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
|
(0.237) |
(0.250) |
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NETWORTH |
|
0.218 |
0.205 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.177 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.177 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.218 |
0.382 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.624 |
0.832 |
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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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DEFERREX TAX ASSETS |
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0.043 |
0.037 |
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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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1.004 |
0.188 |
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Sundry Debtors |
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0.647 |
0.000 |
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Cash & Bank Balances |
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0.221 |
0.092 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
0.027 |
0.014 |
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Total Current Assets |
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1.899 |
0.294 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities & Provisions |
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2.348 |
0.781 |
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Total Current Liabilities |
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2.348 |
0.781 |
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Net Current Assets |
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(0.449) |
(0.487) |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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0.218 |
0.382 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
|
6.912 |
4.976 |
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Profit/(Loss)
Before Tax |
|
0.029 |
(0.001) |
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Provision
for Taxation |
|
0.016 |
0.020 |
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Profit/(Loss)
After Tax |
|
0.013 |
0.021 |
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Import
Value |
|
5.650 |
2.538 |
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Total
Expenditure |
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6.883 |
4.977 |
KEY
RATIOS
|
PARTICULARS |
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|
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
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0.19 |
0.42 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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0.42 |
(0.02) |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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0.51 |
(1.81) |
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Return
on Investment (ROI) (PBT/Networth) |
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5.96 |
10.24 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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-- |
0.86 |
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Current
Ratio (Current
Asset/Current Liability) |
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|
0.81 |
0.38 |
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Quick Ratio |
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0.38 |
0.14 |
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Current Liabilities/Networth |
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10.77 |
3.81 |
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Fixed Asset / Networth |
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2.86 |
4.06 |
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Average Collection Days |
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34.17 |
0.00 |
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Account Receivables Turnover |
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10.68 |
- |
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Inventory Turnover |
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6.88 |
26.47 |
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Asset Turnover |
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11.08 |
5.98 |
LOCAL AGENCY
FURTHER INFORMATION
As per
website Details
Profile
Tracom was founded in 1987 as a Marketing Company. In 1988, the Company made an entry into Dental Profession and since then is involved in Sales and Marketing of Dental Equipments, Instruments and Materials in the territory of India. The Company was formed, is owned and run by Mr. P.K.Agrawal, M.B.A. (1974), Managing Director, who is a marketing man for the last 25 years
Philosophy
Ever since Tracom entered Dental business, the Company has been marketing
products of World Leaders producing technologically advanced high quality
products. Tracom has been providing best of the services including after sales
service, educational and scientific support. Tracom's philosophy has not been
widely appreciated by majority of the customers, as they are interested only in
price benefit. However, Tracom continues and shall carry on with the same
philosophy in future as well. Tracom believes that ultimately it is the
quality, which will stand out.
Market Behaviour in Country
Until 1992, not many Multinational Companies had set their eyes on India as
result leading multinational Companies had established their marketing channels
in India. In view of wide publicity India got over media in last few years, now
all types of manufacturers producing various quality of Equipment, Instruments
and Materials have entered India in a big way as a result India is passing
through a transitional phase where the price rules and the cheapest sells.
Presently the market is being dominated by the Companies who are able to offer
cheap products in terms of price irrespective of quality, educational or
scientific backing and support.
Modus Operandi
Tracom is marketing and selling directly to various Dental Colleges all over
India and as such Institutional Sale is handled directly. Tracom has Dealers
Network in various parts of India and Dealers are retailing on Company's behalf
to various private practitioners and hospitals.
Scientific & Educational Support
Understanding the need for Educational and Scientific support required and
desired by the Dental profession, the Company realized the importance of
continuing education specially in view of State -of-the-Art high quality
technologically advanced products the Company markets. In order to achieve this
objective, Tracom started providing support in this direction and conducted the
first educational course in October, 1989(the Company entered dental business
in late 1988). Tracom Infomex - a platform for scientific interaction and
exchange of ideas, educational lectures, training courses and workshops, was
formed in January 1998 in order to streamline the support. The Company has
conducted all types and kinds of Hands-on Workshops, Lectures, Live
demonstrations/Surgeries and Seminars. Till date 66 such programs have been
organized in co-operation and coordination with various Doctors and Technicians
sponsored by Company's Principles and Leading opinion leaders of India
Some Landmarks
Tracom was appointed as Exclusive Distributor by Dentaurum of Germany in May 1988 and is marketing Orthodontic, Titanium and Chrome-Cobalt Laboratory Equipment's, Instruments and Materials. In co-operation and co-ordination with Dentaurum , Tracom conducts periodical courses for Orthodontic and Chrome-Cobalt Laboratory Techniques and Technologies.
Tracom was appointed as Exclusive Distributor by Hager and Werken of Germany in December, 1988 and is marketing their Hand Instruments meant for various branches of Dentistry as well as Educational Study Models.
Tracom was appointed as Exclusive Distributor by Scheu-Dental of Germany in April, 1992 and is marketing Biostar, Ministar and Arc-Welder. Tracom also conducts demonstrations on Biostar and Ministar during various Dental Conference and Expositions.
Tracom was appointed as Exclusive Distributor by Hammacher of Germany in April, 1992 and is marketing their Hand Instruments for Extracting, Diagnostic, Operative and Conservative, Oral and Maxillofacial Surgery, Micro Surgery and Dental Laboratory.
Tracom was appointed as Exclusive Distributor by Esprident of Germany (a sister company of Dentaurum) in November, 1996 and is marketing Carmen Porcelain Material and other related products.
Tracom was appointed as Exclusive Distributor by J.Mortia Corporation of Japan under Morita Merchandise Dealers International (MMDI) Network in December, 1996. The Company is marketing J.Morita Dental Chairs, X-rays, Tri-Auto ZX, Jetlite and other capital Equipment as well as Instruments and Materials including Materials like PanaviaF, Clearfil Liner Bond-2V as well as all other Clearfil range of materials of Kuraray of Japan.
Tracom has been appointed as Exclusive Distributor by USBiomaterials Corporation of USA in September, 1999. The Company is Marketing PerioGlas all over India.
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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.45 |
|
UK
Pound |
1 |
Rs.84.83 |
|
Euro |
1 |
Rs.57.12 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
31 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|