MIRA
INFORM REPORT
|
Report Date : |
02.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
HOSPILINE EQUIPMENTS PRIVATE LIMITED |
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Registered Office : |
203, Prerna Complex, B – 3, Subhash Chowk, Laxmi Nagar, New Delhi -
110092 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.05.1999 |
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Com. Reg. No.: |
55 – 99995 |
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CIN No.: [Company
Identification No.] |
U74999DL1999PTC099995 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Surgical and Endosopic Equipments. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 5375 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. Scale of activity is
limited. Business is active. Payments are reported as slow but correct. The company can be considered good for small to mediocre business
dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Sanjeev Goyal |
|
Date : |
24.06.2008 |
LOCATIONS
|
Registered Office : |
203, Prerna Complex, B – 3, Subhash Chowk, Laxmi Nagar, New Delhi –
110092, India |
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Tel. No.: |
91-11-22460362 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq. ft. |
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Location : |
Owned |
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Factory : |
F – 15 A, 3rd Floor, Jindal Complex, Subhash Chowk, Laxmi
Nagar, New Delhi – 110092, India |
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Tel. No.: |
91-11-22460362 |
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Mobile No.: |
91-9310221997/ 9810021997 |
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Fax : |
91-11-22458256 |
DIRECTORS
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Name : |
Mr. Sanjeev Sharma |
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Designation : |
Director |
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Address : |
X – 4021, Gali No. 16, Shanti Mohalla, Gandhi Nagar, Delhi – 110031,
India |
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Date of Birth/Age : |
19.06.1968 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
28.05.1999 |
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Name : |
Mr. R P Sharma |
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Designation : |
Director |
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Address : |
X – 4021, Gali No. 16, Gandhi Nagar, Delhi – 110092, India |
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Date of Birth/Age : |
01.01.1938 |
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Date of Appointment : |
28.05.1999 |
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Name : |
Mrs. Alpana Sanjeev Sharma |
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Designation : |
Additional Director |
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Address : |
X – 7021, Gali No. 16, Gandhi Nagar, Delhi – 110092, India |
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Date of Birth/Age : |
02.12.1972 |
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Date of Appointment : |
10.10.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2007
|
Names of Shareholders |
No. of Shares |
|
Mr. Sanjeev Sharma |
9100 |
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Mr. R P Sharma |
1600 |
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Mrs. Alpana Sanjeev Sharma |
7750 |
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Mr. Sanjeev Goyal |
250 |
|
Mr. Harish Sharma |
500 |
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Total |
19200 |
LIST OF ALLOTMENT
As on 31.03.2007
|
Names of Shareholders |
No. of Shares |
|
Mr. Sanjeev Sharma |
3000 |
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Mrs. Alpana Sanjeev Sharma |
3250 |
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Mr. Sanjeev Goyal |
250 |
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Mr. Harish Sharma |
500 |
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Total |
7000 |
Equity share breakup
(Percentage of total equity)
As on 31.03.2007
|
Sr. No. |
Category |
Percentage |
|
1. |
Directors or relatives of directors |
96.09 |
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2. |
Other top fifty (50) shareholders (other than listed above) |
3.91 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Surgical and Endosopic Equipments. |
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Products : |
v Kobra v Penta Gun v Gutline v Hospiline v Scopes |
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Exports : |
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Countries : |
v Dubai v Pakistan |
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Imports : |
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Countries : |
v China v Germany v UK |
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Terms : |
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Selling : |
Cash and Credit ( 30 days) |
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Purchasing : |
Cash and Credit ( 30 days) |
GENERAL
INFORMATION
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Customers : |
v Wholesalers v End Users |
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No. of Employees : |
Total : 50 ( Office : 40, Factory: 10) |
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Bankers : |
v ICICI Bank, New
Delhi v Citi Bank |
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Facilities : |
Overdraft |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
VRSK and Associates Chartered Accountants 109, Prerna Complex, B – 3, Subhash Chowk, Laxmi nagar, Delhi –
110092, India Rajesh K Goel and Associates Chartered Accountants 109, Prerna Complex, B – 3, Subhash Chowk, Laxmi nagar, Delhi – 110092,
India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50,000 |
Equity shares |
Rs. 10/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
19200 |
Equity shares |
Rs. 10/-
each |
Rs. 0.192
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 |
0.192 |
0.122 |
0.122 |
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2] Share Application Money |
0.140 |
0.193 |
0.193 |
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3] Reserves & Surplus |
0.743 |
0.082 |
0.052 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.075 |
0.397 |
0.367 |
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LOAN FUNDS |
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1] Secured Loans |
0.209 |
0.290 |
0.095 |
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2] Unsecured Loans |
0.501 |
0.637 |
0.246 |
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TOTAL BORROWING |
0.710 |
0.927 |
0.341 |
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DEFERRED TAX LIABILITIES |
0.013 |
0.023 |
0.000 |
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TOTAL |
1.798 |
1.347 |
0.708 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.558 |
0.687 |
0.306 |
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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 |
0.785
|
0.364 |
0.040 |
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Sundry Debtors |
0.756
|
0.445 |
0.619 |
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Cash & Bank Balances |
0.079
|
0.106 |
0.164 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.237
|
0.206 |
0.160 |
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Total
Current Assets |
1.857
|
1.121 |
0.983 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.610
|
0.463 |
0.576 |
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Provisions |
0.010
|
0.000 |
0.009 |
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Total
Current Liabilities |
0.620
|
0.463 |
0.585 |
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Net Current Assets |
1.237
|
0.658 |
0.398 |
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MISCELLANEOUS EXPENSES |
0.002 |
0.003 |
0.004 |
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TOTAL |
1.798 |
1.347 |
0.708 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
4.597 |
3.068 |
1.944 |
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Other Income |
0.280 |
0.452 |
0.000 |
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Total Income |
4.877 |
3.520 |
1.944 |
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Profit/(Loss) Before Tax |
0.070 |
0.070 |
0.022 |
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Provision for Taxation |
0.039 |
0.040 |
0.007 |
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Profit/(Loss) After Tax |
0.031 |
0.030 |
0.015 |
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Earnings in Foreign Currency : |
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Export Earnings |
0.077 |
0.000 |
0.000 |
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Total Earnings |
0.077 |
0.000 |
0.000 |
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Imports : |
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CIF Value |
2.325 |
1.374 |
0.724 |
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Total Imports |
2.325 |
1.374 |
0.724 |
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Expenditures : |
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Depreciation & Amortization |
0.188 |
0.096 |
0.086 |
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Other Expenditure |
4.619 |
3.354 |
1.836 |
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Total Expenditure |
4.807 |
3.450 |
1.922 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.63
|
0.85 |
0.77 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.52
|
2.28 |
1.13 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.43
|
1.99 |
1.13 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.18 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.58
|
1.16 |
1.59 |
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Current Ratio (Current Asset/Current Liability) |
|
2.99
|
2.42 |
1.68 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
AIIMS Hospitals
v
Apollo Hospitals
Trust Seal Acceptance Chart
|
Parameters |
Details |
|
Existence
Verification |
|
|
Name |
Mr. Sanjeev
Goyal |
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Mobile No |
91- 9212192992 |
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Statutory
Approvals |
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Income Tax
Registration PAN |
AAACH8843B |
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VAT/ TIN
Registration |
07650226367 |
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Import Export
Code |
0501066241 |
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Name of Bank |
ICICI Bank |
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Current Account
Number |
003705001156 |
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Account Since |
8 Years |
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Credibility
Factors |
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India Mart
Client Since |
2 – 3 Years |
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Standards and
Certifications |
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Quality
Management Systems |
1. ISO 9001:
2000 2. ISO 13485 -
2003 |
AS Per Website Details
Subject is a reputed organization is meticulously engaged in
manufacture, export and supply of Indian Accessories for Flexible/ Rigid
Endoscopes.
The company was initially established for the development of the
products for Gastroenterologists in 1997. Subject is the first company in India
that worked in this field and engineered huge range of products &
equipments. They not only produce high demanding products but also develop
rarely required essential products available at high yielding prices. Hand made
by skilled and professional experts, they offer products that have carved a
niche in the global market. The company is an ISO-9001:2000 and ISO13485:2003 certified organization which is deeply
involved in the manufacturing of the best quality medical products.
Business Overview
Subject has developed itself as a prime manufacturer, exporter and
supplier of a superior range of perfectly designed and proficiently engineered
tools that are essential for various applications. Emphasizing on necessity and
requirement, the company offers a wide variety of equipments like Accessories
for Flexible Endoscopes (
Gastroscope, Colonoscope, ERCP), Bronchoscope Accessories, Urology Accessories,
Laproscopic Hand Instruments, Digital CCD Camera and Light Sources.
In addition to this, they provide the customers with some of the
specialized services inclusive of Private Labeling Assignments where in OEM products are placed,
Value-added Contract Manufacturing and Fully Integrated Product Sourcing
on the request of the customers.
Backed by innovative tools & updated technology, they are able to
offer new and refurbished equipments at market leading prices. Besides, every
technician have to undergo an extensive training (practical & theoretical)
on equipment under the supervision of experts.
Bronchoscopic Instruments
They provide the clients a full line of Bronchoscopic Accessories that
are extensively used for various medical purposes for treatment. Applicable for
various applications, they extend a wide range of accessories that are obtained
in various shapes and sizes varying in thickness, solubility, etc. The array of
Bronchoscopic Accessories includes:
v Foreign Body
Retriever Forceps
v Baskets
v Biopsy Forceps (
Hot and Regular)
v Trans-bronchial Biopsy Forcep
v Cytology Brushes
(Disposable/Reusable)
Laparoscopic Hand Instruments
Offering the clients a full line of Laproscopic Hand Instruments, they
assure that the equipments are durable and span in the market. With its unique
features, they extend instruments that well suit the clients' needs to the
fullest extent at competitive prices. The gamut of Laproscopic Hand Instruments
includes:
v Trocar Cannula/Reducers ( Disposable and Reusable)
v Dissecting and Grasping Forceps/Scissors
v Electrodes (Unipolar / Bipolar)
v Retractors /Needle Holders
v Light Sources ( Halogen/ Xenon)
v CO2 Insufflators
v Trolley
Urology Instruments
They provide the valuable customers a full line of Urology Accessories
that are extensively used for various urology treatments in medical field. Available
on the demands of the doctors and physicians, they extend the clients wide
range of classified products that include:
v Electrodes ( e.g. : Bug Bee)
v Catheters
v Light Sources (Halogen/ Xenon)
E.R.C.P. Accessories
They extend an outstanding variety of ERCP (Endoscopic Retrograde
Cholangiopancreatography) Accessories that finds various applications and
usages in the medical industry. Made utilizing innovative tools and techniques,
they assure that are products and equipments meet the dynamic challenges of the
global arena. The gamut of ERCP Accessories includes:
v Biliary /
Pancreatic Stents ( Amsterdom/ Pigtail Type)
v Sphincterotomes/Papillotomes
( Double/ Triple Lumen) All Types
v Biliary Cytology
brushes (Guide Wire Guided)
v E.R.C.P Cannulas
PTFE (All Tip Designs)
v Stone Retriever
Baskets ( Hexagonal Four/ Six Wire)
v Stone Retriever
Basket ( Guide wire guided)
v Mechanical
Lithotriptors (TTS / OTW)
v C.B.D Stone
Retriever Balloons
v Guide wire guided
TTS Billiary Dilator.
UGI and LGI Instruments
With the perfect integration of manpower and innovative technology, they
offer the clients a full line of UGI & LGL Accessories that finds various
usages in the medical field. Made by an apt team, they offer the clients:
Sclerotheraphy Needles (Single/Double Lumen)
Foreign Body Retriever Forceps :
(a) Two/Three/Four prong
(b) Rat Tooth/Alligator/Rat-Tooth cum alligator
(c) Dormia Basket
(Helical, Hexagonal)
(d) Loop with Net
v Biopsy Forceps/
Hot Biopsy Forceps
v Cytology/Channel
Cleaning Brushes
v Multi
Band Ligator Set (Esophegeal/Hemorrhoidal) Pentagun
v Heat Probes
(Unipolar Coagulator) For Non Variceal Bleeding
v Polypectomy Snares
(Single/Double Lumen)
v Esophageal Dilator
Set ( Bougies)
v PEG Set
v Achalasia Cardia
Balloon Dilators
v Metallic Self Expandable Stents
( Nitinol)
COMPETITIVE ADVANTAGES
Service Backup: The Company has a well-equipped service center that is adequately furnished with a team comprising of experts, technical engineers and proficient professionals. The entire team is lead by thirty years experienced electronic engineer.
Registered Trademarks: To gain total satisfaction and confidence of the customers, they stamp the products with various trademarks. These trademarks are for the identification of the product range the company has registered. Few of the registered trade marks are:
Area of Operation: The company is located in the heart of the city and capital of the country i.e. Delhi. It has developed one of the biggest premises for design & engineering as theyll as for performing or assembling services and administrative works. The company's production process is performed at the in-house factory site by utilizing highly sophisticated machines with the guidance of professional and experts.
Research and Development: The active team of research and development department has been greatly responsible for the numerous technical innovations. Ever since the inception, they are the only company dealing in all types of Endoscopes (Sales and Service) in all brands.
Market and Distribution: The company caters to all leading Government / Semi-Government / Private Institutes / Medical Colleges and Private Practioners of India, Gulf, Europe, Asia and Africa. With an ever-expanding nature, the company is also doing business in Gulf and other neighboring countries through dealers.
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 :
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 43.34 |
|
UK Pound |
1 |
Rs. 86.53 |
|
Euro |
1 |
Rs. 68.54 |
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 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
|
28 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|