MIRA
INFORM REPORT
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Report Date : 13.12.2008 |
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IDENTIFICATION DETAILS
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Name : |
ELDER INSTRUMENTS
PRIVATE LIMITED |
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Formerly Known As : |
ELDER INDUSTRIAL INSTRUMENTS PRIVATE LIMITED |
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Registered Office : |
Elder House, Plot No. C-9, Dalia Industrial Estate, Off Veera Desai
Road, Andheri (West), Mumbai – 400053, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
24.09.1993 |
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Com. Reg. No.: |
074117 |
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CIN No.: [Company
Identification No.] |
U29120MH1993PTC074117 |
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IEC No.: |
0396031498 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUME04202C |
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PAN No.: [Permanent Account No.] |
AAACE1294R |
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Legal Form : |
Private Limited
Liability Company. |
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Line of Business : |
Manufacturing
Weighing Scale and Systems and Industrial Instrument and Trading in Medical
Devices. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established company having satisfactory track. Directors are reported as
experienced, respectable and having satisfactory means of their own. Their
trade relations are fair. 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 : |
Mr. Sumit Jamad |
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Designation : |
General Manager (Finance and Accounts) |
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Contact No.: |
91-9324705205 |
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Date : |
29.11.2008 |
LOCATIONS
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Registered/ Head Office : |
Elder House, Plot No. C-9, Dalia Industrial
Estate, Off Veera Desai Road, Andheri (West), Mumbai – 400053, Maharashtra,
India |
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Tel. No.: |
91-22-26730058 – 67 / 26351700 / 1/ 66485317/ 26730073 |
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Mobile No.: |
91-932470520 |
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Fax No.: |
91-22-26730051/ 0054/ 56929172/ 2632004/
2276 |
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E-Mail : |
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Website : |
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Locations: |
Rented |
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Corporate Office 1: |
11, Anjali, 1st Floor, Behind
Radio Club, Colaba, Mumbai – 400005, Maharashtra, India |
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E-Mail : |
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Website : |
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Corporate Office 2: |
11-B, Dhanraj Mahal, Apollo Bunder, Mumbai – 400001, Maharashtra,
India |
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Tel No.: |
91-22-2835802/ 03, Direct Line: 91-22-2880333/ 2871707 |
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Fax No.: |
91-22-2822433 |
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Factory : |
W – 345, T. T. C. Industrial Area, Village Rabale, MIDC, Navi Mumbai –
400701, Maharashtra, India |
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Tel No.: |
91-22-27605600/ 27690120/ 21/ 3694 |
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Fax No.: |
91-22-27690122 |
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Email : |
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Area : |
8600 sq. ft. |
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Locations: |
Owned |
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Regional Office : |
North: 101/103, Tiwari chambers, 11/B-5, Pusa Road, New Delhi – 110060, India Tel No.: 91-11-25825601/05 Fax No.: 91-11-25825606 East: 12 Rani Bhawani Road, Taki House, Kolkata – 700026, India Tel No.: 91-33-23666757 Fax No.: 91-33-24668953 South: “Gulecha Towers, 2nd Floor, No. 299, (Old No.158) N S K
Salai Vadapalani, Chennai – 600026, India Tel No.: 91-44-23650833/ 23651272 Fax No.: 91-44-23650520 |
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Branch Office : |
Chandigarh: Cabin No.1, SCO 866, Shivalik Enclave, NAC Manimajra, Chandigarh –
160101, Uttar Pradesh, India Tel No.: 91-172-2733152/ 53 ext.201 Mobile No.:91-9356090973 Baroda: 206 Garden View Chambers, Opposite Kalagoda Circle, Sayajigunj,
Vadodara, Baroda, India Tel no.:91-265-2226254 Fax No.:91-265-2637401 Mobile No.: 91-9327093251 Nashik: Dhanalaxmi Business Centre, Sathaye Baug, M G Road, Nashik – 422001 Tel No.: 91-253-2312971/ 77 Fax No.: 91-253-2310817 Mobile No.: 91-9325006758 |
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Sales and Services Centre: |
Located at:
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DIRECTORS
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Name : |
Mr. Alok Jagdish
Saxena |
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Designation : |
Director |
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Address : |
11, Anjali, 1st Floor, Behind Radio Club, Colaba, Mumbai –
400005, Maharashtra |
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Date of Birth/Age : |
03.10.1965 |
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Qualification : |
BA and
PDM |
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Experience : |
15 years |
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Date of Appointment : |
24.09.1993 |
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Email : |
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Name : |
Mrs. Niti Alok
Saxena |
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Designation : |
Director |
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Address : |
11, Anjali, 1st Floor, Behind Radio Club, Colaba, Mumbai –
400005, Maharashtra |
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Date of Birth/Age : |
22.09.1969 |
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Qualification : |
BSC |
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Experience : |
15 years |
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Date of Appointment : |
24.09.1993 |
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Name : |
Mrs. Shalini Karan Kumar |
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Designation : |
Director |
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Address : |
Flat No.1101, Shivkutir,
Near Jankidevi School, Mhada-Versova, Andheri west, Mumbai – 400053,
Maharashtra, India |
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Date of Birth/Age : |
23.11.1969 |
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Qualification : |
MS in
Bio-Medical Engineering (USA) |
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Experience : |
15 years |
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Date of Appointment : |
12.04.2005 |
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Email : |
KEY EXECUTIVES
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Name : |
Mr. Alok Jagdish
Saxena |
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Designation : |
Chief Execute |
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Name : |
Mr. Sumit Jamad |
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Designation : |
General Manager (Finance and Accounts) |
MAJOR SHAREHOLDERS
(As on
28.09.2008)
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Names of
Shareholders |
No. of Shares |
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J. Saxena |
2000 |
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Sneha Saxena |
2000 |
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Alok Saxena |
2300 |
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Niti Saxena |
2200 |
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Dr. Anuj Saxena |
2000 |
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Semit Pharm and
Chemicals Private Limited |
20000 |
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Elder Health Care
Limited |
40000 |
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Akshaya Holdings
Private Limited |
30000 |
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Indarts Exports
Private Limited |
20000 |
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Elder
Pharmaceuticals Private Limited |
40000 |
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Elder Projects
Limited |
40000 |
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Total |
200500 |
(As on 28.09.2007)
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Category |
Percentage |
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Bodies Corporate |
95.00 |
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Directors or relatives of directors |
5.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing
Weighing Scale and Systems and Industrial Instrument and Trading in Medical
Devices. |
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Products : |
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Agencies Held : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash (60-90-120
days) |
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Purchasing : |
L/C, Cash and
Credit (30-60 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers and Retailers
Turbhe Plant, Thane Belapur Road, Navi Mumbai,
Maharashtra, India Mr. Jawle (Head Instrumentation) Tel No.: 91-22-27681521
Mahape, Thane Belapur, Parel, Maharashtra, India Mr. Bharat Sathe (Manager – Project Engineer) Mobile No.:91-9324676286
Kala Chowkie, Parel, Mumbai, Maharashtra, India Mr. Vinit Asher (Director) Mobile No.:91-9867521144 |
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Suppliers : |
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No. of Employees : |
203 (Office – 22,
Factory – 48 and Branch – 133) |
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Bankers : |
Haroon House, 294
/ A, Perin Nariman Street, Fort, Mumbai - 400 001, Maharashtra
IFB Branch, B. S. Marg,
Fort, Mumbai, Maharashtra, India |
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Facilities : |
Rs.60.000
Millions from Corporation Bank
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Banking Relations : |
Satisfactory |
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Auditors : |
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Name : |
Jayesh
Sutaria and Associates Chartered
Accountant |
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Address: |
601/B, Crystal
Plaza, Opposite Fame ad Labs, New Link Road, Andheri West, Mumbai – 400053,
Maharashtra, India |
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Tel No.: |
91-22-26734500 |
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Fax No.: |
91-22-26734500 |
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Associates/Subsidiaries : |
Elder House, Plot No. C-9, Dalia Industrial
Estate, Off Veera Desai Road, Andheri (West), Mumbai – 400053, Maharashtra,
India (Manufacturer of Pharmaceuticals Items)
A 38/3, MIDC
Industrial Area, Patalganga, Village Khaire, Taluka halapur, District Raigad
- 410 220, Maharashtra (Manufacturer of
Pharmaceuticals Items) Tel. No. 91-21142
-250017 / 18
A 38/3, MIDC
Industrial Area, Patalganga, Village Khaire, Taluka halapur, District Raigad
- 410 220, Maharashtra Tel. No. 91-21142
-250017 / 18
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CAPITAL STRUCTURE
Authorised
Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 millions |
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Issued,
Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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200500 |
Equity Shares |
Rs.10/- each |
Rs.2.005 millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.005 |
2.005 |
2.005 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.087 |
3.885 |
3.571 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.092 |
5.890 |
5.576 |
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LOAN FUNDS |
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1] Secured Loans |
47.741 |
19.880 |
19.272 |
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2] Unsecured Loans |
73.632 |
50.664 |
23.988 |
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TOTAL BORROWING |
121.373 |
70.544 |
43.260 |
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DEFERRED TAX LIABILITIES |
1.309 |
1.303 |
1.299 |
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TOTAL |
129.774 |
77.737 |
50.135 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
14.165 |
11.822 |
9.228 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.565 |
0.565 |
0.565 |
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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 |
78.295
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55.178 |
20.864 |
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Sundry Debtors |
81.702
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52.560 |
45.444 |
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Cash & Bank Balances |
5.455
|
5.760 |
7.080 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
14.011
|
9.634 |
8.163 |
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Total
Current Assets |
179.463
|
123.132 |
81.551 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
64.419
|
57.782 |
40.409 |
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Provisions |
0.000
|
0.000 |
0.800 |
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Total
Current Liabilities |
64.419
|
57.782 |
41.209 |
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Net Current Assets |
115.044
|
65.350 |
40.342 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
129.774 |
77.737 |
50.135 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
193.507 |
135.446 |
90.433 |
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Dividend Received |
0.016 |
0.016 |
0.016 |
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Other Income |
0.000 |
2.653 |
2.753 |
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Total Income |
193.523 |
138.115 |
93.202 |
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Profit/(Loss) Before Tax |
3.574 |
2.384 |
1.516 |
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Provision for Taxation |
2.372 |
2.071 |
1.192 |
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Profit/(Loss) After Tax |
1.202 |
0.313 |
0.324 |
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Earnings in Foreign Currency : |
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Export Earnings |
1.751 |
NA |
1.095 |
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Total Earnings |
1.751 |
NA |
1.095 |
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Imports : |
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Finished Goods |
61.894 |
51.707 |
32.537 |
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Total Imports |
61.894 |
51.707 |
32.537 |
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Expenditures : |
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Material Cost |
98.415 |
68.914 |
48.728 |
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Personnel Expenses |
41.050 |
31.310 |
17.637 |
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Interest |
9.923 |
4.927 |
4.729 |
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Loss on sale of assets |
0.247 |
0.000 |
4.761 |
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Depreciation & Amortization |
1.475 |
1.138 |
0.897 |
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Other Expenditure |
38.839 |
29.442 |
14.934 |
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Total Expenditure |
189.949 |
135.731 |
91.686 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
0.62
|
0.23 |
0.35 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.85
|
1.76 |
1.68 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.85
|
1.77 |
3.01 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.50
|
0.40 |
0.27 |
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Debt Equity Ratio (Total Liability/Networth) |
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26.20
|
21.79 |
15.15 |
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Current Ratio (Current Asset/Current Liability) |
|
2.79
|
2.13 |
1.98 |
LOCAL AGENCY
FURTHER INFORMATION
WORKING OF THE
COMPANY:
The operations during the year showed an increase of almost 40% as
compared to previous year. Profit before tax stood at Rs.3.574 Millions and
Rs.1.202 as compared to Rs.2.384 Millions and Rs.0.313 Million respectively in
the previous year. Provision for Income Tax and Deferred Tax for the year was
Rs.1.200 Million and Rs.0.005 Million respectively and balance profit for the
year along with accumulated surplus aggregating Rs.5.087 Million has been
carried over to the Balance sheet. In View of the small profits the directors
have decided to skip divided. The reasons for decline in profit were due to
increase in manpower and expenses for development and marketing of the new
products development by the company.
BANKERS:
The company’s Bankers namely Corporation Bank, IFB Branch Bombay
Samachar Marg, Fort, Mumbai. Have continued the working capital facilities
sanctioned by them to the company. The directors wish to put on record their
sincere appreciation of the support rendered by the said Bank to the company.
THE
COMPANY HAS TAKEN UNSECURED LOANS FROM FOLLOWING PARTIES COVERED IN THE
REGISTER MAINTAINED U/S 301 OF THE COMPANIES ACT 1956.
|
Name of the
company |
Maximum Balance During the year |
Outstanding as at 31.03.2008 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
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|
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|
1] Elder Pharmaceuticals Limited |
21.000 |
21.000 |
|
2] EWF Pharmaceuticals Limited |
0.983 |
0.983 |
|
3] Maverick Products Limited |
0.800 |
0.800 |
PROFIT
AND LOSS ACCOUNTS
(RS.
IN MILLIONE)
|
PARTICULARS |
31.03.2009 (Estimated) |
|
|
|
|
Gross
Sales |
|
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Sales – Export |
0.000 |
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Sales – Domestic |
326.600 |
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Sub Total (Gross Sales) |
326.600 |
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Less Excise Duty |
17.000 |
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Net
Sales |
309.600 |
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% rise [+] or fall [-] in net sales as compared to
previous year |
600.000 |
|
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Other Operating Income |
|
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Export Incentives |
0.000 |
|
Duty Drawback |
0.000 |
|
Others |
0.000 |
|
Total Operating Income |
309.600 |
|
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|
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|
|
Cost
of Sales |
|
|
Raw Materials Consumed |
|
|
[a] Imported |
0.000 |
|
[b] Indigenous |
60.800 |
|
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Other Spares Consumed |
|
|
[a] Imported |
0.000 |
|
[b] Indigenous |
0.000 |
|
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Power and Fuel |
0.600 |
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Direct Labour and Wages |
57.500 |
|
Other Manufacturing Expenses |
0.200 |
|
Depreciation |
2.100 |
|
Sub
Total |
121.200 |
|
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|
Add : Opening Stocks of WIP |
5.200 |
|
Less: Closing Stocks of WIP |
6.700 |
|
Sub
Total |
119.700 |
|
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Add : Opening Stock of finished goods |
190.900 |
|
Less: Closing Stock of
finished goods |
76.100 |
|
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|
|
Total
Cost of Sales |
234.500 |
|
|
|
|
Selling general and administrative expenses |
51.000 |
|
|
|
|
Cost
of Sales + SGA |
285.500 |
|
|
|
|
Operation profit before interest |
24.100 |
|
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Interests |
13.700 |
|
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Operating profit after interest |
10.400 |
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Non
– Operating Items |
|
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Add : other non-operating income |
- |
|
|
|
|
Profit on Sales of Assets/ Investments |
0.000 |
|
Investments and Dividend |
0.000 |
|
Forex gains |
0.000 |
|
Non-operating Income from Subsidiaries |
0.000 |
|
Tax Refund |
0.000 |
|
Other Non-Operating Income |
0.000 |
|
Total
Non-Operating Income |
0.000 |
|
|
|
|
Deduct Non-Operating Expenses |
|
|
Loss on Sale of Assets |
0.000 |
|
Prem. Expenses W/Off |
0.000 |
|
Other Non-Operating Expenses |
0.000 |
|
Total
Non-Operating Expenses |
0.000 |
|
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|
|
Net
of Non-Operating Income / Expenses |
0.000 |
|
Profit
before tax / Loss |
10.400 |
|
Provision for taxes |
|
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Current |
3.300 |
|
Deferred |
0.000 |
|
Sub
Total: Provision for Taxation |
3.300 |
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Net Profit After
Tax |
7.100 |
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|
Extraordinary Income Adjustments (+) |
0.000 |
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Sub Total
Extraordinary Item |
0.000 |
|
|
|
|
Adjusted
PAT (Excl Extraordinary
Items) |
7.100 |
|
|
|
|
Dividend
Paid |
|
|
On Equity Capital |
0.000 |
|
On Preference Shares Capital |
0.000 |
|
|
|
|
Dividend Tax |
0.000 |
|
Partner’s Withdrawl |
0.000 |
|
Dividend (%) |
0.000 |
|
Retained
Profit |
7.100 |
|
|
|
|
Cash
Accruals |
9.200 |
ANALYSIS
OF BALANCE SHEET
[RS IN MILLIONS]
|
PARTICULARS |
31.03.2009 (Estimated) |
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
Short – Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
|
|
Bank Borrowing – From Bank |
60.000 |
|
Bank Borrowing – From Other Bank |
0.000 |
|
Sub
Total |
60.000 |
|
|
|
|
Short Term Borrowings from others |
0.000 |
|
|
|
|
Creditors for Purchases |
61.000 |
|
|
|
|
Advance payments from customers / Deposits from
dealers |
8.900 |
|
|
|
|
Provisions |
|
|
Tax |
4.500 |
|
Others |
0.000 |
|
|
|
|
Dividend payable |
0.000 |
|
|
|
|
Statutory Liabilities [due within one year] |
2.200 |
|
|
|
|
Installments of Term Loans/ Deferred Payment Creditors/
Debentures/ Deposits/ Redeemable Preference Shares [due within one year] |
0.000 |
|
|
|
|
Deposits |
2.300 |
|
Other current liabilities and provisions [due within one
year] |
14.900 |
|
|
|
|
Total
Current Liabilities |
153.800 |
|
|
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
Debentures |
0.000 |
|
Preference Shares Capital |
0.000 |
|
|
|
|
Dealer’s Deposit |
0.000 |
|
Deferred Tax Liability |
1.300 |
|
|
|
|
Term loans |
40.000 |
|
|
|
|
Term deposit |
0.000 |
|
|
|
|
Unsecured Loans (Quasi Equity) |
22.500 |
|
|
|
|
Other Term Liabilities |
0.600 |
|
Total
Term Liabilities |
64.400 |
|
|
|
|
Total
Outside Liabilities |
218.200 |
|
|
|
|
NET
WORTH |
|
|
|
|
|
Equity shares Capital |
|
|
Share Capital (Paid-up) |
2.000 |
|
Share Application (Finalised for Allotment) |
15.000 |
|
Sub
Total (Share Capital) |
17.000 |
|
|
|
|
General Reserve |
0.000 |
|
Revaluation Reserve |
0.000 |
|
|
|
|
Other Reserves and Surplus: |
|
|
Partners Capital/ Proprietor’s Capital |
0.000 |
|
Share Premium |
0.000 |
|
Capital subsidy |
0.000 |
|
Others |
0.000 |
|
Balance
in P and L Accounts (+/-) |
13.100 |
|
|
|
|
New
Worth |
30.100 |
|
Total
Liabilities |
248.300 |
|
|
|
|
|
|
|
CURRENT
ASSETS: |
|
|
|
|
|
Cash and Bank Balance |
2.700 |
|
|
|
|
Investments Government and other Trustee securities |
0.000 |
|
Fixed deposit with bank |
5.000 |
|
Others |
0.000 |
|
|
|
|
Receivables |
|
|
Receivables other than deferred and exports [Domestic] |
80.000 |
|
Export receivables |
0.000 |
|
|
|
|
Note: |
|
|
1.All receivable up to 180 days only to be included 2.Sale bill negotiated under LC to be excluded |
|
|
|
|
|
Deferred
receivable (Due within one year) |
0.000 |
|
|
|
|
Inventory
|
|
|
Raw materials [Including stores and other items used in
the process of manufacture] |
|
|
Imported |
0.000 |
|
Indigenous |
17.000 |
|
Work – in – process |
6.700 |
|
Finished Goods |
76.100 |
|
Other consumable spares - |
|
|
Imported |
0.000 |
|
Indigenous |
0.000 |
|
Sub
– Total (Inventory) |
99.800 |
|
|
|
|
Advance to Suppliers |
5.500 |
|
|
|
|
Advance Payment to Tax |
5.200 |
|
|
|
|
Other Current Assets |
7.800 |
|
|
|
|
Total
Current Assets |
206.000 |
|
|
|
|
|
|
|
FIXED
ASSETS: |
|
|
|
|
|
Gross Block |
28.000 |
|
Less: Accumulated Depreciation |
10.300 |
|
Net
Block |
17.700 |
|
|
|
|
Capital Work in Process |
0.000 |
|
|
|
|
Non
Current Assets |
|
|
Investments / Book Debts / Advances / Deposits which are
not Current Assets |
|
|
|
|
|
Investment in Group Concerns |
0.600 |
|
Loans of Group Concerns/ Advances to Subsidiary |
0.000 |
|
Investment in Others
|
0.000 |
|
Advances to suppliers of capital goods and contractors |
0.000 |
|
Deferred receivables [maturity exceeding one year] |
0.000 |
|
Debtors (6 Months) |
24.000 |
|
Others |
0.000 |
|
|
|
|
Deferred
Tax Assets |
0.000 |
|
|
|
|
Other Non – Current Assets (including dues from directors) |
0.000 |
|
|
|
|
Total
Non- Current Assets |
24.600 |
|
|
|
|
Intangible Assets: Goodwill, Patents and Trademarks |
0.000 |
|
|
|
|
Accumulated Losses, Preliminary Expenses, Miscellaneous
Expenditure Not w/off other deferred revenue expenses |
0.000 |
|
|
|
|
Total
Assets |
248.300 |
|
|
|
|
Tangible
Networth |
30.100 |
|
|
|
|
Additional
information |
|
|
|
|
|
Arrears of Depreciation |
|
|
Total
Contingent Liabilities |
0.000 |
DETAILS
OF LOAN DEPOSIT
(RS
IN MILLIONS)
|
Name and Address
of the Party |
Date |
Opening Balance |
Receipts |
Payment |
Closing Balance |
|
|
|
|
|
|
|
|
Elder Pharmaceuticals Limited C-9, Dalia Industrial Estate, Off New Link Road, Andheri (West),
Mumbai – 400058, Maharashtra, India PAN: AAACE1831G |
01.04.2007 31.03.2008 |
21.000 Interests |
- 2.350 |
- - |
- 23.350 |
|
|
|
|
|
|
|
|
Maverick Productions Private Limited 7-72, Mivi Tower Co-operative Housing Limited, Oshiwara Complex,
Mumbai – 400058, Maharashtra, India PAN: AACEM1696B |
01.04.2007 31.03.2008 |
0.800 - |
- - |
- - |
- 0.800 |
|
|
|
|
|
|
|
|
E W F Pharmaceuticals Private Limited C-9, Dalia Industrial Estate, Off New Link Road, Andheri (West),
Mumbai – 400058, Maharashtra, India PAN: AAIPS6983L |
01.04.2007 31.03.2008 |
0.982 - |
- - |
- - |
- 0.982 |
|
|
|
|
|
|
|
|
Mr. Subhash Khandelwal – HUF A-63, Rustamji Adarsh Heritaj, Dughlaya Lane, Malad – 400064,
Maharashtra, India PAN: AAFHK2538A |
01.04.2007 31.03.2008 |
0.500 - |
- - |
- - |
- 0.500 |
|
|
|
|
|
|
|
|
Mrs. Anju Subhash Khandelwal 12/15 Rajesh Mandir Co-op. Housing, Shankar Lane, Kandivali (West),
Mumbai – 400064, Maharashtra, India PAN: AGKPK2913N |
01.04.2007 31.03.2008 |
0.500 - |
- - |
- - |
- 0.500 |
|
|
|
|
|
|
|
|
Mr. Ashish G. Sanghi |
01.04.2007 31.03.2008 |
1.000 - |
- - |
- 1.000 |
- - |
|
|
|
|
|
|
|
|
Chiranjilalji Finance Limited 12 Mungekar Industrial Estate, Goregaon (East), Mumbai, Maharashtra,
India PAN: AAACC5711F |
09.01.2008 09.01.2008 12.01.2008 03.03.2008 |
- - - - |
0.400 4.600 4.000 - |
- - - 4.000 |
- - - 5.000 |
|
|
|
|
|
|
|
|
Wonder Realty Private Limited 34, Chittaranjan Acenue, 2nd Floor, Kolkata – 700012, India
PAN: AAACW5939R |
12.01.2008 03.03.2008 |
- - |
1.000 - |
- 1.000 |
- - |
|
|
|
|
|
|
|
|
RAS Associates Private Limited 74/80, Babu Genu Road, Souri Building, 3rd Floor,
Kalbadevi, Mumbai – 400002, Maharashtra, India PAN: AABCR1616D |
27.03.2008 |
- - |
1.900 - |
- - |
- 1.900 |
|
|
|
|
|
|
|
|
Vision Trimpex Private Limited 74/80, Babu Genu Road, Souri Building, 3rd Floor,
Kalbadevi, Mumbai – 400002, Maharashtra, India PAN: AAACV8578P |
27.03.2008 |
- - |
0.600 - |
- - |
- 0.600 |
VALUATION
REPORT OF THE PLANT AND MACHINERY
|
Name of the company |
ELDER INSTRUMENT PRIVATE LIMITED |
|
|
|
|
Address of admin/ registered office |
District Thane |
|
|
|
|
Brief Description of assets |
Plant and Machinery |
|
|
|
|
Location of assets |
Plot No.W-345, MIDC T. T. C. Industrial
Estate, Village Rabale, New Bombay, District Thane, Maharashtra, India |
|
|
|
|
Purpose of valuation |
To assess the fair market value for the
purpose of availing bank credit facilities from corporation Bank, Industrial
Finance Branch, Mumbai |
|
|
|
|
Date of Time of inventory and Inspection |
20.10.2008 |
|
|
|
|
Names of persons present |
Mr. Suresh Joshi A. V. Shetty and Associates |
|
|
|
|
Annexure |
Details of valuation (Annexure) |
|
|
|
|
Fair Market Value |
Rs.2.100 Millions |
VALUATION
OF IMMOVABLE PROPERTY
|
Purpose for Which Valuation Made |
To assess the ‘fair market value’ of the
said property for the purpose of a availing bank credit facilities from
Corporation Bank, Industrial Finance Branch, Mumbai |
|
|
|
|
Date on which Visit Made |
20.10.2008 |
|
|
|
|
Name of the Owners |
Presently in the possession of Elder
Instruments Private Limited |
|
|
|
|
If the property is under joint ownership
co-ownership share of each owner, is the share undivided |
A Private Limited Company having its
registered office at Mumbai |
|
|
|
|
Brief Description of the Property, Location
Street, Ward No., Survey Plot No. of Land |
The said property comprises of industrial
premises situated at plot No.W-345, MIDC, T. T. C. Industrial Area, Village
Rabale, Navi Mumbai, District Thane and bounded as follows: On or towards the North by: Plot No. W-344 On or towards the south by: Plot No.W-346 On or towards the East by: Estate Road and On or towards the west by: Plot No.W-351 |
|
|
|
|
It the Property Situated in residential/
Commercial/ Mixed/ Industrial Area |
Industrial Area located at about 4 km – 5km
distance from Kalwa railway station and 1 km – 2 km distance off Thane
Belapur Road |
|
|
|
|
Classification of locality – High Class/
Middle Class/ Poor Class. |
NA |
|
|
|
|
Proximity to civic amenities like schools
offices, Hospitals, Market Cinemas etc. |
Available at about 3km – 4km distance |
|
|
|
|
Means and Proximity to surface Communication
by which the locality is served |
Public modes of transport available. |
|
|
|
|
LAND |
|
|
|
|
|
Area of land supported by documentary proof
shape dimension and physical features. |
Industrial Premises having land admeasuring
about 800 sq. m. and factory shed, admin. Block and other structures totally
admeasuring 794.71 sq. m. (shed – 156 sq. m; admin block – 576.11 sq.m) |
|
|
|
|
Roads or lanes on which land is abutting |
MIDC internal Road |
|
|
|
|
Is it free hold or lease land |
Leasehold (MIDC) |
|
|
|
|
If Lease hold the name of lessors/ lessee,
nature of lease, date of commencement and termination of lease and term of
renewal of lease.
|
Lessors (MIDC) Lessees: Elder Instruments Private Limited Period 95 years |
TECHNICAL
DETSILS FOR THE PREMISES
|
No. of Floor and Height of each floor |
Shed-single storeyed structure having
adequate height; admin block – ground + 2 upper floors having adequate floor
height; security cabin – learn to roof structure having adequate height |
|
|
|
|
Plinth area floor-wise (As per is:
3861-1966) |
Industrial premises having land admeasuring
about 800 sq. m. and factory shed, admin block and other structures totally
admeasuring 794.71 sq. m. (Shed – 156 sq. m; admin block – 576.11 sq. m
security cabin – 2.60 sq. m and additions extensions – 60 sq. m) |
|
|
|
|
Year of construction |
1995-1996 |
|
|
|
|
Estimated future life |
About 35 years with proper maintenance |
|
|
|
|
Type of construction load bearing walls / |
Part steel frame part R.C.C. |
|
|
|
|
Type of Foundations |
R.C.C. |
|
|
|
|
Walls Basement and Plinth Ground Floor Super Structure above |
9” thick brick masonry 9” thick brick masonry 9” thick brick masonry |
|
|
|
|
Partitions |
9” thick brick masonry |
|
|
|
|
Door and Windows (Floor – Wise) |
M. S. Rolling Shutters, Wooden Doors |
|
|
|
|
Flooring (Floor- wise) |
P. C. C. Flooring in the productions are
polished marble stone in the office area and glazed titles in the toilet blocks |
|
|
|
|
Finishing (Floor- wise) |
Sandface cement plaster externally and neeru
finish cement plaster internally |
|
|
|
|
Roofing and terracing |
Part flat roof part sloping A.C. roof |
|
|
|
|
Internal Wiring –surface or conduit |
Conduit Wiring |
|
|
|
|
Class of fitting superior/ Ordinary/ Poor |
Ordinary |
|
|
|
|
Sanitary Installations |
Toilet Blocks provided |
|
|
|
|
Class of fittings superior coloured/
Superior white/ Ordinary |
Ordinary |
|
|
|
|
Compound Wall |
Masonry Wall Provided with gates |
|
|
|
|
Underground Sump |
Provided |
|
Capacity Type of
construction |
As per regulations of MIDC R. C. C. |
|
|
|
|
Overhead Tank |
Provided |
|
Where Located |
On Terrace |
|
Capacity |
As per regulations of MIDC |
|
Type
Construction |
Sintex |
|
|
|
|
Road and paving within the compound. Approx
area, type of paving |
Concrete Paving |
|
|
|
|
Sewage disposal/ Whether connected to public
sewers. If septic tanks provided, no and capacity |
Septic tank and soak pit of adequate
capacity provided. |
The fair market value of the said property has been worked out as under:
1] Value of land having all infrastructure facilities cost of site
development
800 sq. m. @Rs.12000/ sq. m = Rs.9.600 Millions
2] Value of factory shed along with other structures taking into account
depreciation;
794.71 sq. m @Rs.3000/- sq. m. = Rs.2.384 Millions
--------------------------------------
Total
= Rs.11.984 Millions
Say, = Rs.12.000
Millions
WEIGHING MACHINE
DIVISION:
|
Products Name |
Brand Name |
|
|
|
|
Table Tops Scale |
Elder Pan 2000 |
|
Platform Scales |
Elder Pan 2000 P |
|
Tank/ Batching System |
Elder Pan 4000 T |
|
Drum Filling System |
Elder Pan 4000 D |
|
Can Filling System |
Elder Pan 4000 C |
|
Check Weighing System |
Elder Pan 2000 P |
|
Price Computing Scale |
PC Series |
|
Weigh Bridge |
WB Series |
|
Shipper Scale |
Elder Pan 3000 |
MEDICAL ELCTRONICS
DIVISION:
|
Products Name |
Brand Name |
|
|
|
|
Oxygen Concentrator |
Devibiess 525 AKS Lifestyle Portable Oxygen Concentrator Freestyle Portable Oxygen Concentrator |
|
Nebuliser |
Pulmoaid |
|
Finger Puldse Oximeter |
9500 ONYZ |
|
Table Top Pulse Oximeter |
7500 |
|
MRI Compatible Pulse Oximeter |
7500FO |
|
Pulse Oximeter with waveform |
AVANT 9700 |
|
Pulse Oximeter with NIBP |
AVANT 2120 |
|
Pulse Oximeter with Co2 Detector |
9847 |
|
Capnograph |
Respsense |
|
Capnograph and Pulse Oximeter |
Lifesense |
|
Multipara Monitor |
12 and 15 Multipara Monitor with Et Co2, IBP and Printer |
|
|
|
|
SLEEP THERAPY |
|
|
|
|
|
CPAP |
DV51 |
|
Auto Adjust CPAP |
DV54 |
|
Bilevel CPAP |
9055 |
|
Non Invasive Ventilator |
Serena Integra |
|
Spirometer |
Spirobank – II |
|
|
Spirobank – II with Pulse Oximeter |
|
|
|
|
SLEEP LAB |
|
|
|
|
|
Respiratory System |
Emblette |
|
Polysomnography System |
Embla S4000, S7000, N7000 |
|
Ambulatory Polysomnography |
Titanium |
|
EEG Systems |
EEG – Single Channel EEG – Three Channel |
VENDORS:
- Adi Artech Transducers Private Limited
917/1, GIDC,
Makarpura, Baroda, India
Mr. J. R. Vachaani
(Director)
Tel No.:
91-265-2655083/ 2651023
- Multiquadrant Industrial Controls (India) Private Limited
106 Nimish
Industrial Estate, Mulund – E, Mumbai, Maharashtra, India
Mr. S. R. Hanmante
(Director)
Mobile No.:
91-9322403161
- Rotex Manufacturer and Engineer Private Limited
Manpada Road, Dombivli
– East, Thane, Maharashtra, India
Mr. Amit Shah
(Director)
Tel No.:
91-251-66952161/ 62/ 63
Subject was formed in the year 1994 primarily
as an augment to the Healthcare business for Elder Pharmaceuticals the mother
company which has been pursing for many years its vision for providing complete
healthcare to the customer. It envisioned what other pharma companies could not
foresee that exists a large need for medicals and allied instruments
specifically in this healthcare segment. As a result, Elder Pharma decided to
invest in company two segment a] Medical Electronics and Homecare Division b]
Industrial Equipment Division.
Medical Electronics Division created in India
for the first time awareness of “ Healthcare Segment” dealing primarily with
respiratory and critically ill patients who needed life support systems but
need not necessarily be confined to the hospital, that the concept has
developed in the rest of the world but totally undeveloped in Indian market.
Subject recognized this need and created this market with products such as
Oxygen Concentrator, Bipaps, Negligible competition for this segment. In this
segment it is working with the following international companies:
- De Vilbiss Healthcare, USA
- Nonin Medicals, USA
- Airsep Corporation, USA
- Resmed, Australia
- Embla, USA
- B and D Electromedical, UK
- Mir, Italy
- Norland, USA
- EMS Australia
- Guoteng Science and Technology Development Company Limited, China
- Longfei, China
The industrial equipment division was again
primarily to add specialized and customized equipments in the industrial
segment again mainly to the pharmaceuticals, food and industry so on. This
again came off a need so realized for precision and customized and accurate
weighing applications in these industries and elder set up its own manufacturing
plant in New Bombay again one of the first of its kind in the Indian market.
The expertise for this division lies in precise customized solutions for
difficult areas of operations like decanting, lubricants and volume filling
etc.
As on its current status there exists two
pronged strategy for this division. In the medical electronics division they
have identified two large growing markets 1] healthcare and respiratory segment
for which they have a large market share and will be expanding their products
line in the same and second is the new concept which is “complete homecare
solutions” in which along with their pharma products they would be offering
allied medical equipments to completely deal with any diseases/ disorders for
e.g. they are launching now a new products called “E-Cell” in pain management
for which they combined the medical device with the pharma formulations to
ensure customers receives complete care.
In the industrial equipment division as well,
their strategy remain pronged to consolidate on their current range of products
in the weighing segment by offering total accuracy and more precision
equipments. The second as in the medical electronics division is for
international tie-ups to provide complete systems in area such as packaging,
volume filling, liquid filling etc. to enable automation of industrial plants
to ensure speedy and accurate weigh. Currently in talk with two German and
Japanese companies, they expect this to increase their market share
dramatically.
Form 8:
|
Name of the company |
ELDER INSTRUMENTS PRIVATE LIMITED |
|
Presented By |
Jointly by company and charge holder |
|
1) Date and description of instrument creating the change |
Common deed of
hypothecation of movable/ Assets/ Debts Dated 13.07.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit Rs.15.000 Millions Inland LC Rs.7.500 Millions Bank Guarantee (Rs.5.000
Millions) ---------------------------------- Total Rs.22.500 Millions |
|
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
whole of the current assets of the borrower company namely stocks of raw
materials, stock in process, semi finished and finished goods, stores and
spares not relating to plant and machinery (consumable stores and spares)
bills receivable and book debts and all other movables, both present and
future whether now lying loose or in cases or which or now lying or stored in
or about or shall hereinafter from time to time during the continuance of the
security of theses present be brought into or upon or be stored or be in or
about of the borrowers factories premises and goodown situated at w – 345, T.
T. C. Industrial Estate, Village Rabale, Navi Mumbai in the state of
Maharashtra or wherever else the same may be or be held by any party to the
order or disposition of the borrower or in the course of transit or on high
seas or on order or delivery howsoever and where sorer in the possession of
the borrower and either by way of substitution or addition. Hypothecation of
present and future book debts/ receivable of the company. First charge by
way of hypothecation of the existing and future movable fixed assets of the
company VIZ. Plant and Machinery, Furniture and fixture, electrical
installation, factory and lab equipment, air conditioner etc. which now
belonging to and may hereafter during the subsistence of the borrower
liability belong to the borrower and which are/ shall/ may be brought into or
stores or be in or upon the borrower’s premises situated at plot No.W-345. T.
T. C. Industrial Estate, Village Rabale, Navi Mumbai in the state of
Maharashtra or any other place wherever else or in course of transit or
delivery to the borrower. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
ROI – 12.50% |
|
5) Name and Address and description of the person entitled to the charge. |
Corporation Bank
IFB Branch, Bharat House, 104, B. S. Marg, Mumbai – 400001, Maharashtra,
India |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
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 |
FIXED ASSETS:
- Land (Leasehold)
- Factory Building
- Furniture and Fixture
- Plant and Machinery
- Computers
- Office Equipment
- Vehicles
- Electrical Installations
- Air Conditioner
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 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.48.71 |
|
UK Pound |
1 |
Rs.72.85 |
|
Euro |
1 |
Rs.64.70 |
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 |
5 |
|
--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 |
|
44 |
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 |
|