MIRA
INFORM REPORT
|
Report Date : |
19th
January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
TOSHBRO
MEDICALS PRIVATE LIMITED |
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Registered Office : |
8
Mohatta Bhavan, Dr. E Moses Road, Worli, Mumbai – 400 018, 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 : |
14.12.2001 |
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Com. Reg. No.: |
11-134243 |
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CIN No.: [Company
Identification No.] |
U33110MH2001PTC134243 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMT07628F |
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PAN No.: [Permanent
Account No.] |
AABCT4483C |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
To
carry on business of manufacturer, importers, exporters, merchants and
dealers in corrugated sheets, corrugated containers, corrugated folding
boxes, display boxes, corrugated wrappers, corrugated papers, all kinds of
paper boxes and kind of packing materials. Subject
is also engaged in the business of manufacture of medical and surgical
equipments and orthopaedic appliances.
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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
10000 |
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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 well established and reputed company having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade
relations are fair. Business is active. Payments are reported as usually
correct and as per commitments. The company can be considered normal for
business dealings at usual trade trams and conditions. |
LOCATIONS
|
Registered Office : |
8
Mohatta Bhavan, Dr. E Moses Road, Worli, Mumbai – 400 018, Maharashtra, India |
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Tel. No.: |
91-22-24923979/
24900672 |
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Fax No.: |
91-22-24936166 |
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E-Mail : |
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Website : |
DIRECTORS
|
Name : |
Mr.
Arun Toshniwal |
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Designation : |
Director
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Address : |
16,
Ishwar Bhavan, A Road, Churchgate , Mumbai – 400 020, Maharashtra, India |
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Date of Birth/Age : |
29.08.1942 |
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Date of Appointment : |
14.12.2001 |
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Name : |
Mr.
Anurag Toshniwal |
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Designation : |
Director
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Address : |
16, Ishwar
Bhavan, A Road, Churchgate , Mumbai – 400 020, Maharashtra, India |
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Date of Birth/Age : |
10.06.1973 |
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Date of Appointment : |
14.12.2001 |
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Name : |
Mr.
Shiv Karnani |
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Designation : |
Director
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Address : |
7/1,
Nafar Kundan Road, Kolkata – 700 026, West Bengal, India |
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Date of Birth/Age : |
11.01.1964 |
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Date of Appointment : |
27.12.2001 |
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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.
Anurag Toshniwal |
|
950 |
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Mr.
Svetlana Toshniwal |
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950 |
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Mr.
Arun Toshniwal |
|
950 |
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Ms.
Kamla Toshniwal |
|
950 |
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Ms.
Aparna Toshniwal |
|
250 |
|
Chemito
Consultants |
|
950 |
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Mr.
Shiv Toshniwal |
|
500 |
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Ms.
Alka Toshniwal |
|
500 |
BUSINESS DETAILS
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Line of Business : |
To
carry on business of manufacturer, importers, exporters, merchants and
dealers in corrugated sheets, corrugated containers, corrugated folding
boxes, display boxes, corrugated wrappers, corrugated papers, all kinds of
paper boxes and kind of packing materials. Subject
is also engaged in the business of manufacture of medical and surgical
equipments and orthopaedic appliances.
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
About
50 |
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Bankers : |
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Facilities : |
Subject
enjoys secured loan facility from Bank of Baroda. |
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Banking Relations : |
Satisfactory
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Auditors : |
V K
Karnani and Company Chartered
Accountants |
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Address : |
7/20,
and 29, Tardeo A C Market, Tardeo, Mumbai – 400 034, Maharashtra, India |
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Tel. No.: |
91-22-23514295 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
10000 |
Equity
Shares |
Rs. 100/- |
Rs. 1.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000 |
Equity
Shares |
Rs. 100/- |
Rs. 0.600 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.600 |
0.500 |
0.500 |
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2] Reserves & Surplus |
1.487 |
0.200 |
0.078 |
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NETWORTH |
1.987 |
0.700 |
0.578 |
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LOAN FUNDS |
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1] Secured Loans |
3.356 |
0.750 |
1.236 |
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2] Unsecured Loans |
7.407 |
9.739 |
11.178 |
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TOTAL BORROWING |
10.763 |
10.489 |
12.414 |
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DEFERRED TAX LIABILITIES |
0.031 |
0.022 |
0.031 |
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TOTAL |
12.881 |
11.211 |
13.023 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.666 |
0.655 |
0.482 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
9.964
|
10.486 |
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Sundry Debtors |
7.271
|
6.156 |
24.848 |
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Cash & Bank Balances |
6.579
|
0.798 |
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Loans & Advances |
2.830
|
2.457 |
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Total Current Assets |
26.644
|
19.897 |
24.848 |
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Less : CURRENT LIABILITIES & PROVISIONS |
14.437
|
9.357 |
12.331 |
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Current Liabilities |
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Provisions |
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Total Current Liabilities |
14.437
|
9.357 |
12.331 |
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Net Current Assets |
12.207
|
10.540 |
12.517 |
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MISCELLANEOUS EXPENSES |
0.008 |
0.016 |
0.024 |
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TOTAL |
12.881 |
11.211 |
13.023 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
50.000 |
36.936 |
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Profit/(Loss)
Before Tax |
|
2.402 |
0.202 |
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Provision
for Taxation |
|
0.969 |
0.080 |
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Profit/(Loss)
After Tax |
|
1.433 |
0.122 |
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Export
Value |
|
15.920 |
14.406 |
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Import
Value |
|
18.268 |
20.253 |
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Total
Expenditure |
|
47.598 |
36.734 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
PAT / Total Income |
(%) |
2.87
|
0.33 |
-- |
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Net
Profit Margin (PBT/Sales) |
(%) |
4.80
|
0.54 |
-- |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
8.79
|
0.98 |
-- |
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Return
on Investment (ROI) (PBT/Networth) |
|
1.21
|
0.29 |
-- |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
13.75
|
29.38 |
43.86 |
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Current
Ratio (Current
Asset/Current Liability) |
|
1.84
|
2.12 |
2.01 |
LOCAL AGENCY
FURTHER INFORMATION
Corporate Profile
In 1948, four enterprising brothers became entrepreneurs. Seeing
the needs of the time in post independent India and a vision for the future
they established a company to market electronic and electrochemical instruments
and laboratory apparatus under the Toshniwal name. This name has now come to be
synonymous with experience and expertise in the field of instrumentation,
technology and innovation.
Toshbro Private Limited formerly Toshniwal Brothers (Bombay)
Private Limited is today a well-diversified multi-product organization, with
manufacturing operations and representation in India of several reputed
international manufacturers in the field of Analytical Instruments, Process
Control Equipment and Medical Technologies.
Toshbro Medicals markets, supports and services quality
instrumentation for medical practitioners in India. The company has evolved
over 5 decades from a marketing company to a comprehensive solution provider
today.
Headquartered in Mumbai (Bombay), with a network of 7 sales and
service offices nationwide, strong after-sales support, over 53 years of
experience in understanding and meeting the needs of our customers with a
sustained emphasis on Total Satisfaction has allowed us to build a large base
of loyal customers throughout the country.
Experience
Eexperience, over 5 decades of servicing the instrumentation
industry in India, has given us the opportunity to represent world leaders in
Medical technologies. Over the years, they have marketed innovative products,
incorporating the latest in technology and techniques for the medical
professional.
Building on experience of having introduced in to India the range
of radio diagnostic and imaging equipment from Shimadzu Corporation, Japan,
besides a joint venture to manufacture ultrasound instruments for abdominal
scanning and a range of operating microscopes and ophthalmic lasers from Carl
Zeiss, Germany, today, we continue to represent world leaders in medical
instrumentation.
Today, they represent, for sales and service, Möller-Wedel, Oertli
Instrumente and Inami.
Expertise
Customers are assured of the latest in technology and
innovation in the products made to exacting international standards, which have
been adapted to suit conditions in India
Training personnel and customers is an ongoing
process. Personnel absorb the technologies
provided by global business partners to install and commission these
high-precision products so you can be assured of the same high standards
intended at the time of design, development and manufacturing.
Excellence
Since our inception in 1948, they have never lost
focus of most important asset - customer. Toshbro Medicals is committed to
providing a totally integrated sales and service experience to our customers
regardless of their application.
Concept of a 'Total Solution System' begins with the
complete understanding of customer's needs, supplying the correct solution and
providing quality after sales support. They attach an extremely high priority
to after-sales service and total customer satisfaction with every product they
sell and every solution they provide. This commitment ensures that they set
standards in customer management.
The
Company’s Fixed Assets of important value includes:
- Furniture and Fixtures
- Computers
- Office Equipments
- Air Conditioners
- Vehicles
- Business Undertaking
Sale of
goods deals with by the company:
- Medical Equipment
- Components and Spares
Bankers
Charges Report as per Registry
Name of the Company : Toshbro Medicals
Private Limited
Presented by : -- Mr. Arun Toshniwal, Director
|
1.
Date and description of the instrument creating or evidencing the charge
|
Hypothecation
Agreement dated 29.03.2003 |
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2.
Amount secured by the charge /amount
owing on security of the charge |
Rs.
5.000 millions |
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3.
Short Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
|
Hypothecation
of stock of goods / book debts |
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4.
Gist of the terms and conditions and extent and operation of the charge. |
Margin:
25% on stock and 40% on book debts and
for LC and Bank Guarantee Limits: 20%.
Rate
of Interest: 2.5% over PLR=13.50% part monthly rests. Extension
of charges of current assets. Collateral
Security: equitable mortgage on the premises belonging to Toshbro Private
Limited at Pune and Baroda. Personal
Guarantees of Arun Toshniwal, Anurag Toshniwal, Vinay Toshniwal and Prasad
Toshniwal Corporate
Guarantee of Toshbro Private Limited – copy of sanction letter of Bank of
Baroda dated 19.03.2003. |
|
5.
Names, address and description of the
persons entitled to charge |
Bank
of Baroda, Backbay Reclamation Branch, Ram Mahal, P B No. 11037, Mumbai – 400
020, Maharashtra, India |
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6.
Date and brief description of instrument modifying the charge |
N A |
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7.
Particular of modification specifying the terms and conditions or the extent
or operation of the charge in which modification is made and the details of modification |
N A |
Contact
Wg. Cdr. G.S.Seda
Toshbro Medicals Private Limited
303, Vikram Tower, 16, Rajendra Place, New Delhi 110 008
Phone: 91-011-51538361 / 2,
25773438
Fax : 91-011-25724872
Email : delhi@toshbromedicals.com
Mr. Mahadev Dhuri
Toshbro Medicals Private Limited
8, Mohatta Bhavan, Off Dr. E. Moses Road, Worli, Mumbai- 400 018, Maharashtra
Phone: 91-022-24900672
Fax : 91-022-24936166
Email : info@toshbromedicals.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 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.44.25 |
|
UK
Pound |
1 |
Rs.87.30 |
|
Euro |
1 |
Rs.57.36 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|