MIRA
INFORM REPORT
|
Report Date : |
08.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KATARA DENTAL PRIVATE LIMITED |
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Registered Office : |
Apurva Complex, 56,
Ganesh Khind Road, Anudh, Pune 411 007, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
26.07.1993 |
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Com. Reg. No.: |
11-73139 |
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CIN No.: [Company
Identification No.] |
U31112MH1993PTC073139 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEK00870C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To carry on the business of running a modern dental laboratory and all
activities incidental thereto and to carry on, run and conduct any kind of
dental business. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 198028 |
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Status : |
Good |
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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 fine track
records. Trade relations are fair. Business is active. Payments are reported
as usually correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
Apurva Complex, 56,
Ganesh Khind Road, Anudh, Pune 411 007, Maharashtra, India |
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Tel. No.: |
91-20-25691012 / 25693810 |
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Fax No.: |
91-20-25691528 |
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E-Mail : |
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Website : |
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Mumbai Unit : |
Dentech Laboratory, 5, Navroji Vakil Street, Nana Chowk,
Mumbai 400 007, Maharashtra, India |
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Tel. No.: |
91-22-23862723 /
23889764 |
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Fax No.: |
91-22-23870208 |
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Bangalore Unit : |
D-14, Devatha Plaza, 2nd Floor, 131-132
Residency Road, Bangalore 560 025, Karnataka, India |
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Tel. No.: |
91-80-22123791 |
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Fax No.: |
91-80-2229 2543 |
DIRECTORS
|
Name : |
Mr. Mukesh Dolumal Katara |
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Designation : |
Managing Director |
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Address : |
219, Sind Society Road No. 2, Aundh, Pune – 411007, Maharashtra, India
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Date of Birth/Age : |
10.07.1957 |
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Date of Appointment : |
26.07.1993 |
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Election Commission Identity Card : |
MT/00420246-351454 |
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Name : |
Ms. Aruna Mukesh Katara |
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Designation : |
Director |
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Address : |
219, Sind Society Road No. 2, Aundh, Pune – 411007, Maharashtra, India |
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Date of Birth/Age : |
16.10.1959 |
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Date of Appointment : |
26.07.1993 |
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Election Commission Identity Card : |
MT/0042-0246-351455 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(AS ON 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Dr. Mukesh Dolumal Katara |
|
23466 |
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Mrs. Aruna Mukesh Katara |
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33334 |
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Dr. Mukesh Dolumal Katara Joint with Mrs. Aruna Mukesh Katara |
|
21534 |
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Mrs. Aruna Mukesh Katara Joint with Dr. Mukesh Dolumal Katara |
|
11666 |
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Mst. Amit M Katra Joint with Mrs. Aruna Mukesh Katara |
|
30000 |
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Miss Amrita M Katara Joint with Mrs. Aruna Mukesh Katara |
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30000 |
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Total |
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150000 |
(AS ON 30.09.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To carry on the business of running a modern dental laboratory and all
activities incidental thereto and to carry on, run and conduct any kind of
dental business. |
GENERAL
INFORMATION
|
Bankers : |
HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai –
400013, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
L. B. Bapat Chartered Accountants |
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Address : |
Shakuntal, 46/10 Erandavana, Law College Road, Pune – 411004,
Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
1.500 |
1.500 |
1.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
48.007 |
40.822 |
35.417 |
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|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
49.507 |
42.322 |
36.917 |
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|
LOAN FUNDS |
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|
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1] Secured Loans |
1.460 |
2.585 |
1.706 |
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|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
1.460 |
2.585 |
1.706 |
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DEFERRED TAX LIABILITIES |
0.747 |
0.840 |
0.816 |
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TOTAL |
51.714 |
45.747 |
39.439 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
15.399 |
16.601 |
10.080 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
19.099 |
17.857 |
18.497 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
10.233
|
9.034 |
7.104 |
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Sundry Debtors |
8.320
|
6.922 |
5.359 |
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Cash & Bank Balances |
4.865
|
0.938 |
1.699 |
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Other Current Assets |
0.012
|
0.001 |
0.080 |
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Loans & Advances |
4.726
|
4.816 |
3.425 |
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Total
Current Assets |
28.156
|
21.711 |
17.667 |
|
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Less : CURRENT LIABILITIES & PROVISIONS |
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|
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Current Liabilities |
7.557
|
7.648 |
5.280 |
|
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Provisions |
3.383
|
2.774 |
1.525 |
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Total
Current Liabilities |
10.940
|
10.422 |
6.805 |
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Net Current Assets |
17.216
|
11.289 |
10.862 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
51.714 |
45.747 |
39.439 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
59.985 |
44.095 |
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Other Income |
|
0.000 |
0.000 |
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Total Income |
|
59.985 |
44.095 |
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Profit/(Loss) Before Tax |
|
10.588 |
6.678 |
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Provision for Taxation |
|
0.000 |
0.00 |
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Profit/(Loss) After Tax |
|
10.588 |
6.678 |
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Expenditures : |
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Depreciation |
|
1.917 |
1.672 |
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Other Expenditure |
|
47.480 |
35.745 |
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Total Expenditure |
|
49.397 |
37.417 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
17.65
|
15.14 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
17.65
|
15.14 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
24.31
|
17.43 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.16 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.25
|
0.31 |
0.23 |
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Current Ratio (Current Asset/Current Liability) |
|
2.57
|
2.08 |
2.60 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Name of the company |
KATARA DENTAL
PRIVATE LIMITED |
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Presented By |
HDFC Bank
Limited |
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1) Date and description of instrument creating the change |
As per MOE dated
16th June 2004 Memorandum recording past transaction of creation
of mortgage by deposit of Title Deeds. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 3.000
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 |
Mortgage of
property situated at office No. 8/9 and Flat No. 2/3/4 Apurva Complex, S. No.
56/1 + 2 AB Plat No. 1/C -2, Aundh, Pune |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The facility
provided to the borrowers is in the nature of cash credit and term loan The bank is
entitled to charge interest at such rate as may be determined by the bank The charge and
hypothecation shall continue to subsist till such time all the borrowers dues
have been repaid in full. |
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5) Name and Address and description of the person entitled to the charge. |
HDFC Bank Limited HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai –
400013, Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
|
90082942 |
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Corporate
identity number of the company |
U31112MH1993PTC073139 |
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Name of the
company |
KATARA DENTAL PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Apurva Complex, 56, Ganesh Khind Road, Anudh, Pune 411
007, Maharashtra, India |
|
Type of charge |
Book Debts Immovable
Property Movable Property Floating Charge |
|
Particular of
charge holder |
HDFC Bank Limited HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai –
400013, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
letter of hypothecation of Stocks and book debts and Memorandum
recording transaction of creation of equitable mortgage by deposit of title
deeds by constructive delivery Collectively
constitute a single charge for Rs. 6.500 Millions |
|
Date of
instrument Creating the charge |
09.01.2008 |
|
Amount secured by
the charge |
Rs. 6.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the Bank from time to time Terms of
Repayment On Demand Margin Company shall at
times during the continuance of this security maintain the said debts of a
sufficient amount to provide a margin or security from time to time advised
by the Bank Extent and
Operation of the charge Hypothecation by
way of First Charge on Stocks and Book debts to secure as a Continuing
Security for repayment of monies due and payable by the company to the Bank
and The company
accorded and gave oral consent to bank to continue to hold and retain the
title deeds in respect of its immovable properties as security for repayment
of principal, interest, liquidated damages, costs, charges and expenses |
|
Short particulars
of the property charged |
Hypothecation
first charge over the Stocks and Book Debts and Immovable
Properties lying and bearing all that piece and parcel of Flat No. 2/ 3 and
4, Apurva Complex, 56 Ganeshkhind Road, Aundh, Pune – 411007 an Shop No. 8 and 9,
Apurva Complex, 56 Ganeshkhind Road, Aundh, Pune – 411007 |
|
Date of latest
modification prior to the present modification |
23.03.2006 |
|
Particulars of
the present modification |
The Bank having
at the request of Company has agreed to sanctioned additional Credit
facility, thereby charge increased from Rs. 4.500 Millions and Rs. 6.500
Millions |
AS PER WEBSITE
PROFILE
Subject has its origins in the well known DENTECH LABORATORY of Mumbai set up in 1985 by Dr. Mukesh Katara. Dr Katara is a Dental surgeon with postgraduate qualifications from the University of Bombay. After his training in dental technology under Prof. Dr. L.W.R. Kobes at the ZMK Klinik, Gottingen University, Germany, Dr Katara honed his skills at multiple private laboratories in Germany. He then launched DENTECH LABORATORY which is now one of India's finest, best equipped and staffed laboratories. Dentech has a staff of 35 qualified and dedicated personnel.
In 1994, subject was set up in Pune. The ultramodern facility is spread over 400 metres, employees over 40 staff and specializes in innovative dental technology
In 2001, a state-of-the-art full service laboratory was set up in downtown Bangalore.
In 2007, a new laboratory has been set up in New Delhi catering to the high demand needs of practicing dentists in and around Delhi.
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.39.93 |
|
UK Pound |
1 |
Rs.79.34 |
|
Euro |
1 |
Rs.62.55 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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. |
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 |
|