MIRA
INFORM REPORT
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Report Date : |
04.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
NICE NEOTECH MEDICAL SYSTEMS PRIVATE LIMITED |
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Registered Office : |
No. 1, Pallavan Street, Alwarthirunagar, Chennai – 600 087, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.07.2001 |
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Com. Reg. No.: |
18 - 47399 |
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CIN No.: [Company
Identification No.] |
U33119TN2001PTC047399 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEN05041B |
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PAN No.: [Permanent
Account No.] |
AABCN4311M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Health Care Products. |
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 13680 |
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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 businessman.
Trade relations are fair. Business is active. Payments are usually correct
and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mrs. Sheeba |
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Designation : |
Director |
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Date : |
02.08.2008 |
LOCATIONS
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Registered Office : |
No. 1, Pallavan Street, Alwarthirunagar, Chennai – 600 087, Tamilnadu,
India |
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Tel. No.: |
91-44-24764608, 24761602 |
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Fax No.: |
91-44-24762594 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
85 and 86, Krishna Industrial Estate, Vannagaram, Mettukuppam, Chennai
– 600 095, Tamilnadu, India |
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Tel. No.: |
91-44-24764608 |
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Fax No.: |
91-44-24762594 |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Ponniyan Wilson |
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Designation : |
Managing Director |
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Address : |
No. 10, Pallayan Street, Alwarthirunagar, Chennai – 600 087,
Tamilnadu, India |
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Date of Birth/Age : |
28.05.1967 |
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Qualification : |
B.E. |
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Date of Appointment : |
10.07.2001 |
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Name : |
Mrs. Sheeba Wilson |
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Designation : |
Director |
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Address : |
No. 10, Pallayan Street, Alwarthirunagar, Chennai – 600 087,
Tamilnadu, India |
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Date of Birth/Age : |
30.07.1971 |
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Qualification : |
Post Graduate (Economics) |
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Date of Appointment : |
10.07.2001 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 22.08.2005
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Names of Shareholders |
No. of Shares |
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Mr. Ponniyan Wilson |
80500 |
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Mrs. Sheeba Wilson |
66500 |
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Total |
147000 |
Equity share breakup
(Percentage of total equity)
As on 31.03.2007
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Sr. No. |
Category |
Percentage |
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1. |
Directors or relatives of directors. |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Health Care Products. |
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Products : |
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Exports : |
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Countries : |
v Thailand v Malayasia v Vietnam v Nigeria |
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Imports : |
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Products : |
v Raw Materials |
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Countries : |
v China |
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Terms : |
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Selling : |
Cash and Credit ( 30 days) Advance T/T |
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Purchasing : |
Cash and Credit ( 30 days) 100% Advance T/T |
GENERAL
INFORMATION
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Suppliers : |
v Aliance
Biomedica Private Limited v SVK Fabricators v Pon Mariyaa
Engineering v Sri Vinayaka
Plastic Industries v Dheenadayalan
Heat Treaters v Infomedia India
Limited v Parijadham Metal
Finishing |
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Customers : |
v End Users v Hospitals v Dealers v Orbit Ace
Medicare Private Limited v Chiron
Medisupport Systems Private Limited v Madras Surgicals
and Chemicals v Orbit Ace
Medicare Private Limited v Ministry of
Defence v SBP Medicare
India Private Limited |
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No. of Employees : |
30 |
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Bankers : |
v Indian Bank Velasaravakkam v Axis Bank
Limited Verugambakkam |
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Facilities : |
CC – Rs. 0.500 million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
JK Ramaswamy and Associates Chartered Accountants |
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Address : |
28/1, Perumal Street, Porur, Chennai – 600 116, Tamilnadu, India |
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Tel. No.: |
91-44-24828125 |
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Sister Concerns : |
Ponmariyaa Engineering Works Address : Chennai Line of Business
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Fabrication Units |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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350000 |
Equity shares |
Rs. 10/- each |
Rs. 3.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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147000 |
Equity shares |
Rs. 10/- each |
Rs. 1.470
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.470 |
1.470 |
1.470 |
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2] Share Application Money |
1.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.266 |
0.021 |
0.016 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.736 |
1.491 |
1.486 |
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LOAN FUNDS |
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1] Secured Loans |
2.192 |
2.095 |
1.010 |
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2] Unsecured Loans |
2.975 |
1.423 |
0.395 |
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TOTAL BORROWING |
5.167 |
3.518 |
1.405 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
7.903 |
5.009 |
2.891 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.441 |
3.284 |
1.034 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
0.376
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0.192 |
0.000 |
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Sundry Debtors |
9.023
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2.638 |
1.257 |
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Cash & Bank Balances |
0.097
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0.246 |
0.989 |
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Other Current Assets |
0.000
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0.000 |
0.292 |
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Loans & Advances |
0.114
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0.040 |
0.022 |
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Total
Current Assets |
9.610
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3.116 |
2.560 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
4.777
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0.703 |
0.426 |
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Provisions |
0.371
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0.688 |
0.284 |
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Total
Current Liabilities |
5.148
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1.391 |
0.710 |
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Net Current Assets |
4.462
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1.725 |
1.850 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.007 |
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TOTAL |
7.903 |
5.009 |
2.891 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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21.051 |
8.510 |
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Total Income |
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21.051 |
8.510 |
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Profit/(Loss) Before Tax |
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0.404 |
0.008 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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0.404 |
0.008 |
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Expenditures : |
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Financial Charges |
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0.354 |
0.239 |
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Depreciation & Amortization |
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0.288 |
0.206 |
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Other Expenditure |
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20.005 |
8.057 |
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Total Expenditure |
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20.647 |
8.502 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.92
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0.09 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
1.92
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0.09 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.92
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0.09 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
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0.15
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0.00 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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1.88
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0.93 |
0.48 |
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Current Ratio (Current Asset/Current Liability) |
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1.87
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2.24 |
3.60 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v CMC Vellore – Chennai
v Surya Hospital – Chennai
v GG Hospital – Chennai
v Ivory Coast
Form 8
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Name of the company |
NICE NEOTECH MEDICAL SYSTEMS PRIVATE LIMITED |
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Presented By |
Manager Indian Bank, Valasaravakkam |
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1) Date and description of instrument creating the change |
05.02.2005 Demand Promissory Note Medium Term Loan Agreement Agreement of Hypothecation of Movables. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Total Medium Term Loan Rs. 1.875 millions MTL – I Building – Rs. 1.200 millions MTL – II Building – Rs. 0.675 million Total – Rs. 1.875 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 existing machinery and machinery to be purchased out of term loan at a total cost of Rs. 0.995 million. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
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5) Name and Address and description of the person entitled to the charge. |
v Indian Bank 118/119, Indiranagar, Valasaravakkam Branch, Chennai – 600 087, Tamilnadu, India |
As Per Website Details
Since its inception in 1997, nice Neotech Medical systems Pvt. Ltd. has established itself as one of the fastest growing, innovative healthcare solutions company in India, with in-depth product knowledge and rich experience of its team, in the profession.
The Challenge of nice
Neotech is to support the latest developments in the field with innovative
devices covering the requirements of the medical community.
nice Neotech's Product Range for the Neonatal Intensive Care Unit, are: Infant Incubator, Transport Incubator, Infant Open Care System, Infant Radiant Warmers, Phototherapy Units (Conventional and CFL), Pulse Oximeters, Infant Trolleys, Baby Weighing Scales, Oxygen Hood and Infant CPAP.
Currently, nice Neotech is focusing its research in making Infusion
Pumps, Syringe Pumps, Humidifiers (Neonatal and Adult), Neonatal CPAP and
Ventilators.
Commitment
They are committed to serve, putting the customer at the heart of every
activity.
They are committed
to provide, highly reliable critical care equipment, at the right price.
They are committed
to a stringent quality conscious approach, adhering to quality standards in the
technologies, products and services, they deliver.
They are committed
to continually improve and respond creatively and competitively to the changing
needs and aspirations of the customers, through pursuit of technological
excellence, innovation and quality maintenance across the business.
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 :
The 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.
The 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.40 |
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UK Pound |
1 |
Rs. 83.57 |
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Euro |
1 |
Rs. 66.02 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, they have no basis upon which to
recommend credit dealings |
No Rating |
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