MIRA INFORM REPORT

 

 

Report Date :

24.12.2008

 

IDENTIFICATION DETAILS

 

Name :

BIRD MEDITECH

 

 

Registered Office :

D-143, Jai Bonanza Indl. Estate, Ashok Chakravarty Road, Kandivli (East), Mumbai – 400101, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008

 

 

Year of Establishment :

2003

 

 

IEC No.:

0303079436

 

 

PAN No.:

[Permanent Account No.]

AAFFB7538P

 

 

Legal Form :

Partnership concern with an unlimited liability of the partners

 

 

Line of Business :

Manufacturer and Exporter of Innova and Futura Rediant Heat Warmers, Phototherapy, Silicone Resuscitators, Oxygen Hoods, Digital Weighing Scales and Pulse Oximeter 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 500

 

 

Status :

Small Concern

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

Comments :

Subject is a relatively small concern in its field. Trade relations are fair. Scale of activity is limited. No complaints have been heard.

 

The concern can be considered for small to mediocre business dealings.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Deepak Patel

Designation :

Partner

Contact No.:

91-9324380517

Date :

23.12.2008

 

 

LOCATIONS

 

Registered Office/Factory :

D-143, Jai Bonanza Indl. Estate, Ashok Chakravarty Road, Kandivli (East), Mumbai – 400101, Maharashtra

Tel. No.:

91-22-40160517

Mobile No.:

91-9324001836

Fax No.:

91-22-40160517

E-Mail :

birdmeditech@sify.com

Website :

http://www.birdmeditech.net

Location :

Rented

 

 

PARTNERS

 

Name :

Mr. Deepak Patel

Designation :

Partner

Address :

C – 39, Vrandavan Vatika, J Adukia Road, Kandivali (West), Mumbai – 400067, Maharashtra

Date of Birth/Age :

02.10.1974

Qualification :

B. Sc (Chem)

Experience :

12 Years

 

 

Name :

Ms. Meghna Patel

Designation :

Partner

Address :

C – 39, Vrandavan Vatika, J Adukia Road, Kandivali (West), Mumbai – 400067, Maharashtra

Date of Birth/Age :

03.10.1975

Date of Appointment :

5 Years

 

 

Name :

Mr. Vijay Parmar

Designation :

Partner

Address :

A5 – 33, Pancham CHS, MIG Colony, Goregaon (West), Mumbai – 400104, Maharashtra

Date of Birth/Age :

07.03.1968

Qualification :

Diploma in Elex

Experience :

18 Years

 

 

Name :

Ms. Beena Parmer

Designation :

Partner

Address :

A5 – 33, Pancham CHS, MIG Colony, Goregaon (West), Mumbai – 400104, Maharashtra

Date of Birth/Age :

25.09.1975

Qualification :

B. Com

Experience :

5 Years

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Innova and Futura Rediant Heat Warmers, Phototherapy, Silicone Resuscitators, Oxygen Hoods, Digital Weighing Scales and Pulse Oximeter 

 

 

Products :
  • Radiant Heat Warmers
  • CFL Phototherapy
  • Neonatal Resuscitation
  • Phototherapy Systems
  • Infant Cribs
  • Oxygen Hoods
  • Digital Weighing Scales
  • BMI Indicator

 

 

Exports :

 

Products :

Infant Warmers and Oxygen Hoods

Countries :

Turkey, Kenya, Netherlands and Jordan

 

 

Terms :

 

Selling :

Cash

 

PRODUCTION STATUS

 

Particulars

 

 

Installed Capacity

Actual Production

Infant Radiant Warmers

 

 

100

50

Phototherapy

 

 

100

50

Oxygen Hoods

 

 

300

200

 

 

 

GENERAL INFORMATION

 

Customers :

Wholesalers, Retailers, End Users and OEM ‘ s

 

 

No. of Employees :

7 (Office – 2 + Factory – 5)

 

 

Bankers :

ICICI Bank Limited, Satguru Mansion, Liberty Garden, Malad (West), Mumbai – 400064, Maharashtra

Bank A/C No. 015805000870

Account Since - 2003

 

 

Facilities :

Rs. 0.900 Million

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

P G Katharotiya and Company

Chartered Accountant

Address :

103, Akansha Acrade, Trikamdas Road, Kandivali (West), Mumbai – 400067, Maharashtra

Tel. No.:

91-22-28619327

 

 

Associates/Subsidiaries :

Nil

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Rs. 0.109 Million

Borrowed :

--

Total :

Rs. 0.109 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2008

31.03.2007

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

0.109

0.444

2] Share Application Money

 

0.000

0.000

3] Reserves & Surplus

 

0.000

0.000

4] (Accumulated Losses)

 

0.000

0.000

NETWORTH

 

0.109

0.444

LOAN FUNDS

 

 

 

1] Secured Loans

 

0.711

0.801

2] Unsecured Loans

 

0.000

0.000

TOTAL BORROWING

 

0.711

0.801

DEFERRED TAX LIABILITIES

 

0.000

0.000

 

 

 

 

TOTAL

 

0.820

1.245

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

0.700

0.765

Capital work-in-progress

 

0.000

0.000

 

 

 

 

INVESTMENT

 

0.000

0.000

DEFERREX TAX ASSETS

 

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

0.052

0.048

 

Sundry Debtors
 

1.362

1.984

 

Cash & Bank Balances
 

0.382

0.722

 

Other Current Assets
 

0.657

0.313

 

Loans & Advances
 

0.000

0.000

Total Current Assets
 

2.453

3.067

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
 

2.333

2.587

 

Provisions
 

0.000

0.000

Total Current Liabilities
 

2.333

2.587

Net Current Assets
 

0.120

0.480

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.000

0.000

 

 

 

 

TOTAL

 

0.820

1.245

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

 

 

31.03.2008

31.03.2007

Sales Turnover

 

7.763

7.253

Other Income

 

0.234

0.178

Total Income

 

7.997

7.431

 

 

 

 

Profit/(Loss) Before Tax

 

0.099

0.246

Provision for Taxation

 

0.000

0.000

Profit/(Loss) After Tax

 

0.099

0.246

 

 

 

 

Earnings in Foreign Currency :

 

 

 

 

Export Earnings

 

1.202

0.223

 

Commission Earnings

 

6.795

7.208

Total Earnings

 

7.997

7.431

 

 

 

 

Expenditures :

 

 

 

 

Cost of Goods Sold

 

5.021

4.778

 

Manufacturing Expenses

 

0.374

0.341

 

Administrative Expenses

 

2.337

1.792

 

Interest

 

0.041

0.103

 

Depreciation & Amortization

 

0.125

0.171

Total Expenditure

 

7.898

7.185

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2008

31.03.2007

PAT / Total Income

(%)
 

1.23

3.31

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
 

1.27

3.39

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

3.13

6.41

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

0.90

0.55

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

27.92

7.63

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

1.05

1.18

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade References

 

 Medical Systems and Services

H – 251, Ashok Vihar, Phase – 1, New Delhi – 110052

Tel. No. 91-11-27216237

Mr. Sunil Monga

 

SMRA International

209, Annapurna Res. Complex,

17-85 Dilsukhangar, Hyderabad, Andhra Pradesh

Tel. No. 91-40-66719460

Mr. N Srinivas Rao

 

Invade Technologies

Room No. P P Xiv 563,

Kaza Marina Complex, Talap, Kannur, Kerala

Mobile No. 9446509448

Mr. Anish Kumar

 

Shah Brothers

105 Sripal Shooping Center,

Agashi Road, Virar West, Thane

Tel. 91-22-2509609

Mr. Alpesh Shah

 

                                            Additional Requirement of Indiamart for Trust-Seal

 

 

Service Tax No. : --

 

Excise Registration No.: --

 

VAT / TIN : 27110290160V, 27110290160C

 

IEC Code : 0303079436

 

 

 

PAN / TAN : PAN – AAFFB7538P, TAN – MUMB15960A

 

 

 

Bank Name : ICICI Bank Limited

 

Bank Address : Satguru Mansion, Liberty Garden, Malad (West), Mumbai – 400064, Maharashtra

 

Bank A/c. No.: 015805000870

 

Account Since : Aug 2003

 

 

 

In case of any affiliations / memberships / certifications :

Name : NSF International Strategic Registrations

 

Type : ISO 13485 : 2003

 

Expiry Date : 18.03.2011

 

 

Name : Nemko AS

 

Type :CE (For Infant Warmer)

 

Expiry Date : 01.01.2013

 

 

Name : Nemko AS

 

Type : CE (For Phototherapy)

 

Expiry Date : 01.01.2013

 

 

Name : ITC, Czech Republic

 

Type : CE (For Phototherapy)

 

Expiry Date : 13.05.2013

 

 

Name : EVPU, Solvakia

 

Type : CE (For Silicone resuscitators)

 

Expiry Date : 26.10.2013

 

 

 

 

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.48.49

UK Pound

1

Rs.71.89

Euro

1

Rs.67.86

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

2

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

30

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions