MIRA
INFORM REPORT
|
Report Date : |
03.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
MEDSOURCE
OZONE BIOMEDICALS PRIVATE LIMITED |
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Registered Office : |
238, Sant Nagar, East of Kailash, New Delhi - 110
065 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
07.05.2003 |
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Com. Reg. No.: |
55-120213 |
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CIN No.: [Company
Identification No.] |
U24239DL2003PTC120213 |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
To
buy, sell, import, export and deal in and with drugs, medicines, diagnostic
reagents, laboratory chemicals,
testing equipment, surgical and scientific apparatus and appliances surgical
drawings laboratory glass ware, instruments, hospital appliances and allied
products, druggists, sundries, effervescent, tablets, cordials and veterinary
products, hospital supplies and requirements of all kinds. |
RATING & COMMENTS
|
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 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 : |
238, Sant Nagar, East of Kailash, New Delhi - 110
065, India |
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Tel. No.: |
91-11- 4162 4387/ 2643 3880 |
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Fax No.: |
91-11- 4162 4083 |
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E-Mail : |
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Website : |
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Head Office : |
Plot No. 7, Site No. 2, 14/3 Main Mathura Road, Faridabad
121 003, Haryana |
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Tel. No.: |
91-129- 4113606 - 10 |
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Fax No.: |
91-129 4049344 |
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Regional Office: |
Kolkata V-23/22, Vivekananda Park, PO Garia, Kolkata- 700
084, West Bengal Phone: 91-33-2410 4626 Hyderabad H. No. 1-6-311 & 320, Sai Ranga Apartments,
Flat No. 104, 1st Floor, Kandozi Bazar, Park Lane, Secundrabad 500 003,
Andhra Pradesh Phone: 91-40 5544 9914 |
DIRECTORS
|
Name : |
Mr.
Nikhil Nanda |
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Designation : |
Director
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Address : |
12,
Jor Bagh, Lodhi Road, New Delhi – 110003, India |
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Date of Birth/Age : |
18.03.1974 |
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Date of Appointment : |
27.09.2004 |
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Name : |
Dr.
Shailash Kumar Mittal |
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Designation : |
Director
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Address : |
245,
Kailash Hills, East of Kailash, New Delhi – 110065, India |
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Date of Birth/Age : |
17.02.1956 |
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Date of Appointment : |
27.09.2004 |
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Name : |
Mr.
Rajeev Kumar Dass |
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Designation : |
Director
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Address : |
R-668,
New Rajendra Nagar, New Delhi -
110060, India |
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Date of Birth/Age : |
14.11.1955 |
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Date of Appointment : |
27.09.2004 |
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Name : |
Mr.
Malladi Srinivas |
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Designation : |
Director
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Address : |
238,
LGF, Sant Nagar, East of Kailash, New Delhi – 110065, Delhi, India |
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Date of Birth/Age : |
28.11.1970 |
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Date of Appointment : |
10.05.2003 |
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Name : |
Dr.
Kapil Garg |
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Designation : |
Director
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Address : |
1933,
Sector – 28, Faridabad |
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Date of Birth/Age : |
27.08.1970 |
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Date of Appointment : |
27.09.2004 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
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Mr.
Parvesh Rani |
|
9000 |
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Mr.
Suresh Rai |
|
1000 |
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Dr.
Shailash K Mittal |
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20000 |
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Mr.
Sanjeev K Gupta |
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9000 |
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Mr.
Prateek K Mittal |
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20000 |
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Mrs.
Monika Rai Mittal |
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20000 |
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Mr.
Mahabir Parshad Mittal |
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1000 |
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Mr.
Raj Kumar Gupta |
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1000 |
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Mr.
Malladi Srinivas |
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1000 |
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Shweta
Rai and Sureeti Rai |
|
10 |
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Mr.
Mohak Rai and Parvesh Rai |
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10 |
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Mr. V.
Venkata Reddy |
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5000 |
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Mr.
Manan Mittal |
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10000 |
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Mr. C
Anil Kumar |
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2980 |
|
Embee
Diagnostics Private Limited |
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300000 |
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Medsource
Health Care Private Limtied |
|
900000 |
BUSINESS DETAILS
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Line of Business : |
To
buy, sell, import, export and deal in and with drugs, medicines, diagnostic
reagents, laboratory chemicals,
testing equipment, surgical and scientific apparatus and appliances surgical
drawings laboratory glass ware, instruments, hospital appliances and allied
products, druggists, sundries, effervescent, tablets, cordials and veterinary
products, hospital supplies and requirements of all kinds. |
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GENERAL
INFORMATION
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Bankers : |
Punjab
National Bank LCB,
A-9, Connaught Place, New Delhi – 110001, India |
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Banking Relations : |
Satisfactory
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Auditors : |
Jitender
Dhingra Chartered
Accountants 706,
Akashdeep, 26-A, Barakhamba Road, New Delhi – 110001, India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
1900000 |
Equity
Shares |
Rs. 10/- each |
Rs. 19.000 Millions |
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Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity
Shares |
Rs. 10/- each |
Rs. 15.000 Millions |
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FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
15.000 |
2.500 |
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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 |
0.846 |
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4] (Accumulated Losses) |
|
[3.346] |
0.000 |
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NETWORTH |
|
11.654 |
3.346 |
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LOAN FUNDS |
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1] Secured Loans |
|
13.027 |
12.112 |
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2] Unsecured Loans |
|
16.007 |
21.974 |
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TOTAL BORROWING |
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29.034 |
34.086 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.111 |
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TOTAL |
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40.688 |
37.543 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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14.724 |
2.863 |
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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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1.341 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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Sundry Debtors |
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Cash & Bank Balances |
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114.645 |
82.042 |
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Other Current Assets |
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Loans & Advances |
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Total Current Assets |
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82.042 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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90.029 |
47.371 |
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Provisions |
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Total Current Liabilities |
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90.029 |
47.371 |
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Net Current Assets |
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24.616 |
34.671 |
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MISCELLANEOUS EXPENSES |
|
0.007 |
0.009 |
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TOTAL |
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40.688 |
37.543 |
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KEY
RATIOS
|
PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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10.22 |
24.34 |
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Current
Ratio (Current
Asset/Current Liability) |
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|
1.27 |
1.73 |
LOCAL AGENCY
FURTHER INFORMATION
|
Name of the company |
Medsource Ozone Biomedicals Private
Limited |
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Presented By |
Mr. Rajeev Kumar Dass, Director |
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1) Date and description of instrument creating the change |
Hypothecation
of goods and book debts to secure cash credit facility. Hypothecation
of moveable assets forming part of fixed assets, both dated 29.03.2005 Copy
of Sanction Letter. Registered
with registrar of companies on 18.05.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
12.500 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation
of all the present and future entire goods / assets, current assets, stocks
of raw materials stores and spares, finished goods consumables which belong
to them and which now or hereinafter from time to time during the continuance
of this agreement shall be brought in stored or be in or about their premises
or unit at 238, Sant Nagar, East of Kailash, New Delhi - 110
065 or Godown / depots at various places or any other godowns / depots or be in
course or transit from one Godown to another or wherever else the same may
be. Hypothecation of all the present and future book
debts, outstanding decrees, money receivables, claims securities, government
subsidies, investments, rights and other moveable assets. Hypothecation by way of first charge on all the
moveable assets of the company, both present and future part of fixed /
blocks assets. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Margin
: 25 % on stock and book debts. Interest
at the rate of BPLR i.e. presently 10.75 % p.a. with monthly rests The
interest payable by the borrower and the periodicity of rests shall be
subject to charges in the interest rate and the periodicity of rests made by
the bank / RBI from time to time. The
interest payable by the borrower and the periodicity of rests shall be
subject to changes in the rate and the periodicity of rests made by the Bank
/ RBI from time to time. |
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5) Name and Address and description of the person entitled to the charge. |
Punjab
National Bank LCB,
A-9, Connaught Place, New Delhi – 110001, India |
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6) Date and brief description of instrument modifying the charge |
Deed
of Hypothecation of goods and book debts to secure Cash Credit facility. Deed
of Hypothecation of moveable assets forming part of fixed assets. Both
dated 24.05.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Additional
Cash Credit limit of Rs. 3.100 Millions to the existing cash credit limit of
Rs. 12.500 Millions aggregating to Rs. 15.600 Millions against the security
by way of hypothecation of stocks and book debts. Hypothecation
of all present and future stocks of raw materials, work in process, finished
goods, consumables, stores and spares which belongs to them and which now or
hereinafter from time to time during the continuance of this agreement shall
be brought in stored or be in or about their premises or unit at 238, Sant
Nagar, East of Kailash, New Delhi - 110 065 or goods / assets represented by
documents drawn / covered under the letter of credit issued under the said
limit Hypothecation of present and future entire goods /
assets, current assets, Raw materials, stores and spares, finished goods,
semi finished goods, bills receivables etc. Book debts Hypothecation of moveable assets of the company by
way of first charge, both present and future forming part of fixed / block
assets. Margin
: 25 % on stock and book debts. Interest
at the rate of BPLR i.e. presently 10.75 % p.a. with monthly rests The
interest payable by the borrower and the periodicity of rests shall be
subject to charges in the interest rate and the periodicity of rests made by
the bank / RBI from time to time. The
interest payable by the borrower and the periodicity of rests shall be
subject to changes in the rate and the periodicity of rests made by the Bank
/ RBI from time to time. |
As Per Website
Ambition is what they live with, excellence is what they aspire
for, leadership is what they shall attain soon and hard work is what flows in
their Blood. Welcome to the home page of Medsource
Ozone Biomedicals Private Limited, India’s fastest growing organization in Medical Diagnostics.
For Ozone, the most important aspect of business is their
customers, their end users who continue to demonstrate trust in their products
and services. To reach these customers, they maintain a strong and large field
force representing the organization in every part of the country as well as a
well established network of business associates. They strive to offer their
customers the very best products supported by an equally efficient service
backup.
Medsource Ozone Biomedicals
is an organization focused into marketing of Clinical Diagnostic
products in Indian market. Based in the capital city of India, New Delhi
they conduct sales across the country through a well established network of
Business Associates as well as dedicated marketing personnel.
Conceptualized by a group of highly committed,
innovative and experienced professionals, OZONE was created with a vision to be
the leader in Medial Diagnostics in India further followed by leadership in
multiple segments of the healthcare industry. This itself, however, is
only the beginning as they wish to be a global player by the end of this
decade.
Started from a small premises in southern part of New
Delhi, Medsource Ozone Biomedicals is
today a 150 plus people organization with offices in Delhi, Kolkata, Hyderabad
as well as Faridabad (Head Office), with plans to begin other offices as well
in Mumbai and Chennai. Each of their Field Force member is vigorously
trained to ensure high standards of product knowledge, problem solving abilities
and quality customer services. Their sales activities are further
supported by a strong 40 plus team of Service Engineers located across the
country. Once again, several of their Engineers have been trained in
Asian and European countries to ensure that an unlikely instrument problem is
professionally handled in the best possible manner in shortest time.
Since their inception in May 2003 they have been
growing at a pace of over 100% per annum and have already established their
selves as the fastest growing organization in Medical Diagnostics. Such
growth has been sustained in each of their three years and through the
dedicated efforts of their Field Force, they remain confident of attaining
leadership in Medical Diagnostics in the coming times.
Their infrastructure, manufacturing facilities,
storage facilities, as well as logistical and distribution support are as
impressive as their technical and marketing capabilities. With their new
manufacturing unit at Faridabad completed and operational, they have taken a
significant step in terms of their manufacturing capability. The R&D
Division further supports these facilities providing several innovative
products custom designed to meet the requirements of the market. They now
posses state-of-the-art facilities providing world class reagents in Clinical
Chemistry as well as Serology.
At Medsource
Ozone Biomedicals they aim and aspire to be the best, the most
respected and the largest organization in Indian Diagnostics. Their
commitment to quality is complete and unquestionable. As a highly ethical
organization they value honesty, integrity, hard work, loyalty and
transparency. They take pride in the fact that their focus and
concentration on the customer has paid significant dividends and they shall
continue this focus in the future.
They currently represent several renowned companies in
the world Diagnostic industry on an exclusive basis in India:
- Standard
Diagnostics, Korea
- HUMAN GmbH,
Germany
- RAYTO Life
& Analytical Sciences, China
- TAIDOC
Technologies Corporation, Taiwan
In addition to above they also have tie ups with other
organization either for OEM or on an exclusive basis through their sister
concerns including IND Diagnostics, Canada, Dupont, USA and others.
With the above tie-ups in place, they present a range
that is arguably the best in the country including Clinical Chemistry,
Immunoassays, Hematology, Coagulation, Rapid Tests, Serology, Blood Banking,
Point of Care, Quality Controls, Liquid Handling, ESR Analysis as well as the
associated instrumentation and automation solutions.
As an opportunity driven organization, they remain
open to ideas that shall enable them attain their goals and are consistent with
their values and continue to develop relationships to strengthen their
organization and achieve what they aspire.
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.44.11 |
|
UK
Pound |
1 |
Rs.86.79 |
|
Euro |
1 |
Rs.57.44 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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 |
|