MIRA
INFORM REPORT
|
Report Date : |
06.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
HI TEC LABORATORIES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Vijoy Hatta P. O. and District Siwan, P. S. Siwan, Mueassil, Bihar -
841226, India |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
17.11.1993 |
|
|
|
|
Com. Reg. No.: |
03-005582 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U00380JH1993PTC005582 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PTNH00126A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Distributors and Supplier of Medical Equipments |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 12000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old and established company. Company’s profitability is under
pressure. Trade relations are fair. Payments are reported as slow but
correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Dr. Kalika Sharan Singh |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9310008020 |
|
Date : |
16.04.2008 |
LOCATIONS
|
Registered Office : |
Vijoy Hatta P. O. and District Siwan, P. S. Siwan, Mueassil, Bihar,
India |
|
E-Mail : |
|
|
|
|
|
Head Office : |
454, FIE, Patparganj Industrial Area, New Delhi – 110092, India |
|
Tel. No.: |
91-11-32498616/ 32498099/ 32666267 |
|
Fax No.: |
91-11-22161484 |
|
Mobile : |
91-9310008020 |
|
E-Mail : |
|
|
Area : |
2500 sq. ft. |
|
Locations : |
Rented |
|
|
|
|
Branches : |
Located at: ·
Kolkata (West) ·
Dipo-Bihar Patana ·
Jharakhand ·
Orissa |
DIRECTORS
|
Name : |
Mr. Adhilekh Kumar Singh |
|
Designation : |
Director |
|
Date of Birth/Age : |
01.08.1981 |
|
Qualifications : |
MBA |
|
Date of Appointment : |
01.10.2005 |
|
|
|
|
Name : |
Dr. Kalika Sharan Singh |
|
Designation : |
Director |
|
Date of Birth/Age : |
05.03.1951 |
|
Qualifications : |
Doctor |
|
Date of Appointment : |
17.11.1993 |
|
|
|
|
Name : |
Mrs. Neelam Singh |
|
Designation : |
Director |
|
Date of Birth/Age : |
26.08.1956 |
|
Qualifications : |
Graduate |
|
Date of Appointment : |
17.11.1993 |
|
|
|
|
Name : |
Mr. Abhishekh Kumar |
|
Designation : |
Director |
|
Date of Birth/Age : |
24.06.1980 |
|
Qualifications : |
MBBS |
|
Date of Appointment : |
09.07.1998 |
KEY EXECUTIVES
|
Name : |
Shabnam Kapoor and Company |
|
Designation : |
Company Secretary |
|
Address : |
D-49, 1st Floor, Pandav Nagar, Opp Mother Dairy Plant,
Delhi – 110092, India |
|
Tel No.: |
91-11-22064366 |
|
Mobile No.: |
91-9312210412 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
|
Name of
Shareholders |
|
No.
of Shares |
|
|
|
|
|
Dr. Kalika Sharan Singh |
|
6770 |
|
Mrs. Neelam Singh |
|
5750 |
|
Mr. Raju Ranjan Singh |
|
200 |
|
Mr. Keshav Narayan Singh |
|
1700 |
|
Mr. Anil Kumar Singh |
|
200 |
|
Mr. Saran Durga Singh |
|
200 |
|
Mr. Bhagwati Saran Singh |
|
200 |
|
Mr. Vishwanath Singh |
|
200 |
|
Mr. Aziz Ahmed |
|
200 |
|
Mrs. Shashi Bhushan Singh |
|
200 |
|
Mr. Arub Kumar Singh |
|
200 |
|
Mr. Bijendra Kumar Singh |
|
200 |
|
Mr. Abhay Kumar Singh |
|
200 |
|
Mrs. Saraswati Saran Singh |
|
200 |
|
Mr. Abhilekh Kumar |
|
2000 |
|
Mr. Abhishek Kumar |
|
1580 |
|
|
|
|
|
Total |
|
20000 |
(As on 31.03.2007)
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributors and Supplier of Medical Equipments |
|
|
|
|
Products : |
·
Tablets ·
Syrup
and Suspension ·
Oral Liquid ·
Dry Powders ·
Capsules ·
Injection ·
Ointments ·
Eye/Ear Drops |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30-60 days) |
|
|
|
|
Purchasing : |
Credit (30 days) |
GENERAL
INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers ·
End Users ·
OEM’s ·
Ava Medical ·
Bhagwati Drug Centre ·
Bharat Pharma ·
Ambika Agencies ·
Font Systems ·
Gupts Drug Enterprises ·
Jagdamba Medical Agency ·
Kanak Drug and Surgicals ·
Matri Traders ·
New Reliance Drugs |
|
|
|
|
Suppliers : |
· Dr. Reddy Laboratories Limited · Choksi Laboratories Limited · Hamax Pharmaceuticals · NEEC Limited · Olive Healthcare · Vipul Drug Private Limited |
|
|
|
|
No. of Employees : |
150 |
|
|
|
|
Bankers : |
·
Union Bank of India STB Branch, Exhibition Road, Patna - 800001, Bihar · State Bank of
India · ICICI Bank
Limited |
|
|
|
|
Facilities : |
Credit Limit Rs.5.000 Millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Dewanad Zha Chartered Accountant |
|
Address : |
Delhi |
|
Mobile : |
91-9911369867 |
|
|
|
|
Name : |
Purushothman Bhutani and Company Chartered Accountant |
|
Address : |
3/11708, Sat Nagar, Karol Bagh, New Delhi – 110005, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.100/- each |
Rs.2.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.891 |
1.090 |
1.083 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2.891 |
3.090 |
3.083 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.100 |
2.377 |
3.532 |
|
|
2] Unsecured Loans |
3.336 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
8.436 |
2.377 |
3.532 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11.327 |
5.467 |
6.615 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.949 |
1.751 |
1.236 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.052 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
8.195
|
4.716 |
7.534 |
|
|
Sundry Debtors |
3.877
|
5.023 |
4.775 |
|
|
Cash & Bank Balances |
0.853
|
0.839 |
0.386 |
|
|
Other Current Assets |
0.000
|
0.705 |
0.066 |
|
|
Loans & Advances |
1.071
|
1.463 |
1.597 |
|
Total
Current Assets |
13.996
|
12.746 |
14.358 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
2.756
|
9.030 |
8.979 |
|
|
Provisions |
2.914
|
0.000 |
0.000 |
|
Total
Current Liabilities |
5.670
|
9.030 |
8.979 |
|
|
Net Current Assets |
8.326
|
3.716 |
5.379 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11.327 |
5.467 |
6.615 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2007 |
|
Sales Turnover |
|
|
31.420 |
|
Other Income |
|
|
4.261 |
|
Total Income |
|
|
35.681 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
0.148 |
|
Provision for Taxation |
|
|
0.130 |
|
Profit/(Loss) After Tax |
|
|
0.018 |
|
|
|
|
|
|
Total Expenditure |
|
|
35.533 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.05
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.47
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.87
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.88
|
3.69 |
4.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.47
|
1.41 |
1.60 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
·
Shiva Bio Genetics, Himachal Pradesh
·
Scot edil, Himachal Pradesh
·
Unix Biotech, Himachal Pradesh
·
Aqua Vitoe, Madhya Pradesh
Form 8:
|
Corporate
identity number (CIN) Foreign company registration number |
U00380JH1993PTC005582 |
|
Name of the
Company |
HI TEC LABORATORIES PRIVATE LIMITED |
|
Address |
Vijoy Hatta P. O. and District Siwan, P. S. Siwan, Mueassil, Bihar,
India |
|
This form is for |
Modification of charge |
|
Type of Charge |
Book Debts Movable Property
(not being pledge) Stock in Trade
and Other Current Assets |
|
Particulars of
the charge holder |
·
Union Bank of India STB Branch, Exhibition Road, Patna - 800001, Bihar |
|
Nature or
description of the instrument(s) creating or modifying the charge |
Sanction letter,
Demand Loan (SD-21H), Letter of Continuity of Guarantee, Letter of
undertaking from directors (SD-1), Hypothecation of stock and book debts
(SD-03-1 and SD-05-1) for Rs.5.000 Millions From Rs.3.500 Millions and
Rs.5.000 Millions) |
|
Date of the
instrument creating or modifying the charge |
04.04.2007 |
|
Amount secured by
the charge |
Rs.5.000 Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of
Interests: BPLR+0.25% at
present it is 12.75% subject to change in the rate of interests from time to
time as per directives of RBI. Terms of
Repayments: On Demand within
one year from the date of sanction Margin: 25% system margin Extent and
operation of the charge: 100% in favour of
Union Bank of India, Exhibition Road, Patna |
|
Short particulars
of the property charged (including location of the property) |
Land and Building
measuring about 3.52 Katha Valued to Rs.4.905 Millions vide valuation report
dated 16.05.2005 and the property is situated at Mauza- Vijay Hata,
Pargana-12, Thana-Siwan, Tauzi No. 5104, PS No.254, Khesara No.24, 47 and
Khata No.42 and the sale deeds no.4750 and 4751 dated 18.03.2006. The Land
and Building is in the name of Mrs.Neelam Singh and Dr.Kalika Sharan Singh. |
|
Particular of the
present modification |
Original Charged
was created on 25.05.2000 foe Rs.2.400 Millions CC and Rs.0.038 Million T/L
and subsequently the charged was modified on 28.03.2001 and the limit was
enhanced to Rs.3.500 Millions and by the modification the limit has been
increased from Rs.3.500 Millions to Rs.5.000 Millions CC Stock Hypothecation. |
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.42.86 |
|
UK Pound |
1 |
Rs.83.58 |
|
Euro |
1 |
Rs.66.17 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
41 |
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 |
|