MIRA
INFORM REPORT
|
Report Date : |
24th
January, 2007 |
IDENTIFICATION DETAILS
|
Name : |
SANDOR
MEDICAIDS PRIVATE LIMITED |
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Registered Office : |
101
and 102, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
04.10.1995 |
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Com. Reg. No.: |
01-21906 |
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CIN No.: [Company
Identification No.] |
U51101AP1995PTC021906 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDS04391C
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
To
carry on in India or elsewhere the business to manufacture, produce,
assemble, alter, acquire, build, convert commercialize, design, develop,
display, demonstrate, equip, fabricate, repair and maintain, modify, market,
machine, reconditions, remodel, import, export, buy, sell, resale, research,
and to act as agent, broker, financier, stockists, suppliers, contractor,
consultants, engineer, collaborator or otherwise to deal in all types of
automatic, semi-automatic, digital, electronic instruments, equipments,
apparatus, machineries, tools, their parts, fittings, components and
accessories used in healthcare, treatment, diagnosis, research, test cure,
operation and for saving life of human-being disposable medical and surgical
instruments and consumables, orthopaedic, aesthetic, operating room
equipments, medical aids like diagnostic kits, implants and other allied
products. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
USD
24900 |
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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. Profit margin is under
severe pressure. Payment are slow but correct. The company can be considered
for small to mediocre business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
101
and 102, |
|
Tel. No.: |
91-40-23357048/
23354824 |
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Fax No.: |
91-40-23357046 |
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E-Mail : |
sandor@hd2.vsnl.net.in
, sandor@sanchernet.in , seetaram@sandor.co.in |
|
Website : |
DIRECTORS
|
Name : |
Mr.
Rajeev Sindhi |
|
Designation : |
Chairman
|
|
Address : |
203,
Akarshan , |
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Date of Birth/Age : |
11.10.1961 |
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Date of Appointment : |
04.10.1995 |
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|
|
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Name : |
Mr. K
V Murlidhar Reddy |
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Designation : |
Director
|
|
Address : |
311,
Road No. 25, Jubilee Hills, |
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Date of Birth/Age : |
01.12.1964 |
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Date of Appointment : |
16.05.2002 |
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|
|
|
Name : |
Mr.
Sai Gnana Kalluri |
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Designation : |
Director
|
|
Address : |
Plot
No. 286, Jalvayu Vihar, Kukat Pally, |
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Date of Birth/Age : |
28.11.1953 |
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Date of Appointment : |
10.04.2002 |
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|
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Name : |
Mr.
Pratosh G Shah |
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Designation : |
Director
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Address : |
4-3-339,
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Date of Birth/Age : |
15.01.1981 |
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Date of Appointment : |
15.11.2002 |
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|
Name : |
Mr.
Pradeep K Jain |
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Designation : |
Director
|
|
Address : |
204,
Sarita Apartments, Road No. 4, Banjara Hills, |
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Date of Birth/Age : |
15.08.1955 |
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Date of Appointment : |
02.04.2004 |
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|
|
|
Name : |
Ms.
Chandrakala P Jain |
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Designation : |
Director
|
|
Address : |
204,
Sarita Apartments, Road No. 4, Banjara Hills, |
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Date of Birth/Age : |
03.06.1955 |
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Date of Appointment : |
02.04.2004 |
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|
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|
Name : |
Mr.
Ankit Jain |
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Designation : |
Director
|
|
Address : |
204,
Sarita Apartments, Road No. 4, Banjara Hills, |
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Date of Birth/Age : |
02.02.1984 |
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Date of Appointment : |
02.04.2004 |
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|
|
|
Name : |
Ms.
Sangeeta Payavula |
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Designation : |
Director
|
|
Address : |
301,
Shanti Sagar Apartments, Dattatreya Colony, Asif Nagar, |
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Date of Birth/Age : |
06.03.1977 |
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Date of Appointment : |
09.07.2004 |
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|
|
Name : |
Mr.
Gunjan Sindhi |
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Designation : |
Director
|
|
Address : |
203,
Akarshan , |
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Date of Birth/Age : |
01.10.1969 |
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Date of Appointment : |
02.04.2004 |
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|
|
Name : |
Mr. E
Uttam Kumar |
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Designation : |
Director
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Name : |
Mr.
Inugala Jaipal Reddy |
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Designation : |
Director
|
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Address : |
13-6-4343/C/189,
Maruthi Nagar, |
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Date of Birth : |
21.03.1962 |
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Date of Appointment : |
26.10.2005 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mr.
Gunjan Sindhi |
|
100000 |
|
Mr.
Rakesh Sindhi |
|
54682 |
|
Mr. K
V M Reddy |
|
62500 |
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Ms.
Renu Khanna |
|
5000 |
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Ms.
Sangeeta Samala |
|
30000 |
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Mr.
Jagdish Sindhi |
|
35000 |
|
Ms.
Payal Suri |
|
9700 |
|
Ms.
Laura Sindhi |
|
4000 |
|
Ms.
Anita Boravnia |
|
4000 |
|
Mr.
Pratosh G Shah |
|
24000 |
|
Mr.
Rajat Kumar |
|
12000 |
|
Mr.
Vivek Naithani |
|
1000 |
|
Ms.
Namita Tanwar |
|
1000 |
|
Mr.
Samarth Sindhi |
|
137118 |
BUSINESS DETAILS
|
Line of Business : |
To
carry on in India or elsewhere the business to manufacture, produce,
assemble, alter, acquire, build, convert commercialize, design, develop,
display, demonstrate, equip, fabricate, repair and maintain, modify, market,
machine, reconditions, remodel, import, export, buy, sell, resale, research,
and to act as agent, broker, financier, stockists, suppliers, contractor,
consultants, engineer, collaborator or otherwise to deal in all types of
automatic, semi-automatic, digital, electronic instruments, equipments,
apparatus, machineries, tools, their parts, fittings, components and
accessories used in healthcare, treatment, diagnosis, research, test cure,
operation and for saving life of human-being disposable medical and surgical
instruments and consumables, orthopaedic, aesthetic, operating room
equipments, medical aids like diagnostic kits, implants and other allied
products. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
About
25 |
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|
|
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Bankers : |
Oriental
Bank of Commerce 9-1-129/1,
Oxford Plaza, Secunderabad Branch, Sarojini Devi Road, Secunderabad, Andhra
Pradesh, India – 500 003, India |
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|
|
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Facilities : |
1] The
company enjoys Cash Credit facilities of Rs. 5.000 millions from Oriental
Bank of Commerce dated 06.07.2006 against hypothecation of Stocks and Book
Debts. 2] The
company also enjoys Mortgage facilities of Rs. 0.500 millions from Oriental
Bank of Commerce dated 08.07.2006 |
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Banking Relations : |
Satisfactory |
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Auditors : |
Harinarayan
Loya and Company Chartered
Accountants |
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Address : |
413,
IV Floor, |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity
Shares |
Rs. 10/- |
Rs. 10.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
395700 |
Equity
Shares |
Rs. 10/- |
Rs. 3.957 millions |
As on 31.03.2006
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
505700 |
Equity
Shares |
Rs. 10/- |
Rs. 5.057 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
5.057 |
3.957 |
|
|
2] Share Application Money |
|
0.411 |
1.921 |
|
|
3] Reserves & Surplus |
|
0.760 |
0.005 |
|
|
4] (Accumulated Losses) |
|
0.000 |
(1.929) |
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|
NETWORTH |
|
6.228 |
3.954 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
3.143 |
0.000 |
|
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2] Unsecured Loans |
|
2.432 |
3.507 |
|
|
TOTAL BORROWING |
|
5.575 |
3.507 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.050 |
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|
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|
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TOTAL |
|
11.803 |
7.511 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
1.363 |
1.371 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.091 |
0.085 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
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Inventories |
|
14.268 |
8.974 |
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Sundry Debtors |
|
10.750 |
1.524 |
|
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Cash & Bank Balances |
|
4.771 |
0.391 |
|
|
Loans & Advances |
|
6.486 |
4.185 |
|
Total Current Assets |
|
36.275 |
15.074 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
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|
|
|
|
|
Current Liabilities |
|
25.693 |
9.206 |
|
|
Provisions |
|
0.327 |
0.000 |
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Total Current Liabilities |
|
26.020 |
9.206 |
|
|
Net Current Assets |
|
10.255 |
5.868 |
|
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
|
0.094 |
0.187 |
|
|
|
|
|
|
|
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TOTAL |
|
11.803 |
7.511 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover [including other income] |
|
15.000 |
9.000 |
|
|
|
|
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KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
6.07 |
4.22 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
1.39 |
1.63 |
LOCAL AGENCY FURTHER INFORMATION
Profile
Sandor Medicaids Private Limited was
incorporated in 1995 with the sole purpose of
distributing state of art medical/ pharmaceutical products in
The main promoter of the company was Mr.
Rajeev Sindhi, a technocrat with 14 years experience in business. The other
promoter Mr. Muralidhar Reddy had been the Chief Engineer for Apollo Hospitals
at
The company, over the last 7 years, has
been able to create a good standing for itself as the provider of high end
technology and a reliable and dependable service. Today the company has a total
customer base of 150 hospitals through out the country. The focus for the
company has always been to bring better technology at a lower cost to the
hospital in promoting the Point of Care concept with the sole aim of providing
superior service. The company has created a strong distribution base in
The company is focusing in 3 therapeutic areas i.e Point of Care Diagnostic, Nephrology and Transplantation.
The company has resident managers in 8
locations i.e.
Products
- Point of Care
- Renal Care and
Transplantation
- Therapeutics
- Diagnostics
Bankers Charges Report as per Registry
Name of the Company : Sandor Medicaids
Private Limited
Presented by : -- Mr. Rajeev Sindhi, Managing Director
|
1.
Date and description of the instrument creating
or evidencing the charge |
Deed
of hypothecation dated 21.02.2006 Term
Loan Agreement dated 21.01.2006 Both
the document are executed by Sandor Medicaids Private Limited (hereinafter
called the company in favour or Oriental Bank of Commerce, hereinafter called
the bank) |
|
2.
Amount secured by the charge /amount owing on security of the charge |
Mortgage
Loan of Rs. 1.100 millions |
|
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 all the stock and book debts of the company both present and future |
|
4.
Gist of the terms and conditions and extent and operation of the charge. |
Rate
of Interest : 11.11% p.a. Repayment
: repayable in 12 months Security
: hypothecation of all the stock and book debts of the company both present
and future |
|
5.
Names, address and description of the persons entitled to charge |
Oriental
Bank of Commerce Head
Office at: E Block, Brnach
Office at: 9-1-129/1, |
|
6.
Date and brief description of instrument modifying the charge |
N A |
|
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
101 and 102,
Tel : 91-40-23357048, 23354824
Fax : 91-40-23357046
email : sandor@sancharnet.in , seetaram@sandor.co.in
Website : www.sandor.co.in
CMT REPORT [Corruption, Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts,
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.44.23 |
|
|
1 |
Rs.87.56 |
|
Euro |
1 |
Rs.57.61 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
37 |
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 |
|