MIRA
INFORM REPORT
|
Report Date : |
23.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
TOSHBRO MEDICALS
PRIVATE LIMITED |
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Formerly known as : |
TOSHNIWAL BROTHERS (BOMBAY) PRIVATE LIMITED |
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Registered Office : |
8 Mohatta Bhavan,
Dr. E Moses Road, Worli, Mumbai – 400 018, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
14.12.2001 |
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Com. Reg. No.: |
11-134243 |
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CIN No.: [Company
Identification No.] |
U33110MH2001PTC134243 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMT07628F |
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PAN No.: [Permanent
Account No.] |
AABCT4483C |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacture and
Importer of Ophthalmic 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 35692 |
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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 records. Directors
are reported as experienced and respectable businessmen. Trade relations are
fair. Business is active. Payments are reported as usually correct and as per
commitments. The company can be considered normal for business dealings at
usual trade trams and conditions. |
LOCATIONS
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Registered Office/ Factory : |
8 Mohatta Bhavan,
Dr. E Moses Road, Worli, Mumbai – 400 018, Maharashtra, India |
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Tel. No.: |
91-22-24923979/
24900672 |
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Fax No.: |
91-22-24936166 |
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E-Mail : |
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Website : |
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New Delhi Office : |
Toshbro Medicals Private Limited |
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Tel No.: |
91-011-51538361 / 2, 25773438 |
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Fax : |
91-011-25724872 |
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Email : |
DIRECTORS
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Name : |
Mr. Arun
Toshniwal |
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Designation : |
Director |
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Address : |
16, Ishwar
Bhavan, A Road, Churchgate , Mumbai – 400 020, Maharashtra, India |
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Date of Birth/Age : |
29.08.1942 |
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Date of Appointment : |
14.12.2001 |
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Name : |
Mr. Anurag
Toshniwal |
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Designation : |
Director |
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Address : |
16, Ishwar
Bhavan, A Road, Churchgate , Mumbai – 400 020, Maharashtra, India |
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Date of Birth/Age : |
10.06.1973 |
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Date of Appointment : |
14.12.2001 |
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Name : |
Mr. Shiv Karnani |
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Designation : |
Director |
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Address : |
7/1, Nafar Kundan
Road, Kolkata – 700 026, West Bengal, India
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Date of Birth/Age : |
11.01.1964 |
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Date of Appointment : |
27.12.2001 |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of
Shareholders |
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No. of Shares |
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Mr. Anurag
Toshniwal |
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950 |
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Mr. Svetlana
Toshniwal |
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950 |
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Mr. Arun
Toshniwal |
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950 |
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Ms. Kamla
Toshniwal |
|
950 |
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Ms. Aparna
Toshniwal |
|
250 |
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Chemito
Consultants |
|
950 |
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Mr. Shiv
Toshniwal |
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500 |
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Ms. Alka
Toshniwal |
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500 |
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Category |
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Percentage of Shares |
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Directors or
relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture and
Importer of Ophthalmic products.
. |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
About 50 |
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Bankers : |
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Facilities : |
Subject enjoys
secured loan facility from Bank of Baroda. |
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Banking Relations : |
Satisfactory |
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Auditors : |
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Name : |
V K Karnani and
Company Chartered
Accountants |
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Address : |
7/20, and 29,
Tardeo A C Market, Tardeo, Mumbai – 400 034, Maharashtra, India |
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Tel. No.: |
91-22-23514295 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 10/- |
Rs. 1.000 million |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 10/- |
Rs. 1.000 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.000 |
0.700 |
0.600 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
7.923 |
2.572 |
1.487 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
8.923 |
3.272 |
2.087 |
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LOAN FUNDS |
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1] Secured Loans |
4.700 |
3.391 |
3.356 |
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2] Unsecured Loans |
10.669 |
11.970 |
7.407 |
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TOTAL BORROWING |
15.369 |
15.361 |
10.763 |
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DEFERRED TAX LIABILITIES |
0.073 |
0.019 |
0.031 |
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TOTAL |
24.365 |
18.652 |
12.881 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.757 |
1.433 |
0.666 |
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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 |
15.015
|
11.795 |
9.964 |
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Sundry Debtors |
40.902
|
21.134 |
7.271 |
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Cash & Bank Balances |
2.940
|
1.974 |
6.579 |
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Other Current Assets |
8.296
|
5.056 |
0.000 |
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Loans & Advances |
0.000
|
0.000 |
2.830 |
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Total
Current Assets |
67.153
|
39.959 |
26.644 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
39.902
|
21.479 |
14.437 |
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Provisions |
4.643
|
1.261 |
0.000 |
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Total
Current Liabilities |
44.545
|
22.740 |
14.437 |
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Net Current Assets |
22.608
|
17.219 |
12.207 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.008 |
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TOTAL |
24.365 |
18.652 |
12.881 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.06.2007 |
31.06.2006 |
31.03.2005 |
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Sales Turnover |
93.675 |
55.447 |
50.000 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
93.675 |
55.447 |
50.000 |
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Profit/(Loss)
Before Tax |
10.726 |
2.933 |
2.402 |
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Provision for
Taxation |
0.000 |
0.000 |
0.969 |
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Profit/(Loss)
After Tax |
10.726 |
2.933 |
1.433 |
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Export Value |
NA |
NA |
15.920 |
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Import Value |
NA |
NA |
18.268 |
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Expenditures : |
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Interest |
1.678 |
1.238 |
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Depreciation & Amortization |
0.367 |
0.274 |
47.598 |
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Other Expenditure |
80.904 |
51.002 |
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Total Expenditure |
82.949 |
52.514 |
47.598 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
11.45
|
5.28 |
2.87
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Net Profit Margin (PBT/Sales) |
(%) |
11.45
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5.28 |
4.80
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Return on Total Assets (PBT/Total Assets} |
(%) |
15.56
|
7.08 |
8.79
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Return on Investment (ROI) (PBT/Networth) |
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1.20
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0.89 |
1.21
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Debt Equity Ratio (Total Liability/Networth) |
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6.71
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11.64 |
12.07
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Current Ratio (Current Asset/Current Liability) |
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1.50
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1.75 |
1.84
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LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Corporate
identity number (CIN) Foreign company registration number |
U33110MH2001PTC134243 |
|
Name of the
Company |
TOSHBRO MEDICALS PRIVATE LIMITED |
|
Address |
8 Mohatta Bhavan, Dr. E Moses Road, Worli, Mumbai – 400 018, Maharashtra, India |
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This form is for |
Modification of
Charges |
|
Type of Charge |
Book Debts and
Movable property (not being pledge) |
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Particulars of
the charge holder |
Bank of Baroda Backbay
Reclamation Branch, Ram Mahal, P B No. 11037, Mumbai – 400 020, Maharashtra,
India E-Mail: backbay@bankofbaroda.com |
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Amount secured by
the charge |
Rs.19.000
millions |
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Brief of the
principal terms and conditions |
Rate of Interest: Interest on the
cash credit limit @ of 2% OPLR of the Bank p. a with monthly / quarterly /
half-yearly / yearly rests Terms of
Payments: As specified by the
Bank Margin: Margin of 25% on
the stocks, 40% on the book debts and shall also provide cash margin of 20%
in respect of Bank Guarantee |
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Date of latest
modification prior to the present modification |
23.01.2006 |
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Particular of the
present modification |
By the present
modification the charge is extended to secure the further cash credit limit
of Rs.4.500 millions and the further Bank guarantee limit of Rs.5.00
millions, thereby raising total limit upto Rs.19.000 millions |
Business:
To carry on
business of manufacturer, importers, exporters, merchants and dealers in
corrugated sheets, corrugated containers, corrugated folding boxes, display
boxes, corrugated wrappers, corrugated papers, all kinds of paper boxes and
kind of packing materials
Corporate Profile
In 1948,
four enterprising brothers became entrepreneurs. Seeing the needs of the time
in post independent India and a vision for the future they established a
company to market electronic and electrochemical instruments and laboratory
apparatus under the Toshniwal name. This name has now come to be synonymous
with experience and expertise in the field of instrumentation, technology and
innovation.
Subject formerly Toshniwal Brothers (Bombay)
Private Limited is today a well-diversified multi-product organization, with
manufacturing operations and representation in India of several reputed
international manufacturers in the field of Analytical Instruments, Process
Control Equipment and Medical Technologies.
Toshbro Medicals markets, supports and services
quality instrumentation for medical practitioners in India. The company has
evolved over 5 decades from a marketing company to a comprehensive solution
provider today.
Headquartered in Mumbai (Bombay), with a network
of 7 sales and service offices nationwide, strong after-sales support, over 53
years of experience in understanding and meeting the needs of our customers
with a sustained emphasis on Total Satisfaction has allowed us to build a large
base of loyal customers throughout the country.
Experience
Experience, over 5 decades of servicing the instrumentation industry in India, has given them the opportunity to represent world leaders in Medical technologies. Over the years, they have marketed innovative products, incorporating the latest in technology and techniques for the medical professional.
Building on experience of having introduced in to India the range of radio diagnostic and imaging equipment from Shimadzu Corporation, Japan, besides a joint venture to manufacture ultrasound instruments for abdominal scanning and a range of operating microscopes and ophthalmic lasers from Carl Zeiss, Germany, today, we continue to represent world leaders in medical instrumentation.
Today, they represent, for sales and service, Möller-Wedel, Oertli Instrumente and Inami.
Expertise
Customers are assured of the latest in technology and innovation in the products made to exacting international standards, which have been adapted to suit conditions in India
Training personnel and customers is an ongoing process. Personnel absorb the technologies provided by global business partners to install and commission these high-precision products so can be assured of the same high standards intended at the time of design, development and manufacturing.
Excellence
Since their inception in 1948, they have never lost focus of most important asset - customer. Toshbro Medicals is committed to providing a totally integrated sales and service experience to their customers regardless of their application.
Concept of a 'Total Solution
System' begins with the complete understanding of customer's needs, supplying
the correct solution and providing quality after sales support. They attach an
extremely high priority to after-sales service and total customer satisfaction
with every product they sell and every solution they provide. This commitment
ensures that they set standards in customer management.
The Company’s Fixed Assets of important
value includes:
- Furniture and Fixtures
- Computers
- Office Equipments
- Air Conditioners
- Vehicles
- Business Undertaking
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.29 |
|
UK Pound |
1 |
Rs.77.02 |
|
Euro |
1 |
Rs.58.16 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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 |
|