MIRA
INFORM REPORT
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Report Date : |
13.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
INDELECT TECHNOLOGIES PRIVATE LIMITED |
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Registered Office : |
14B, Dr. Thirumurthy Nagar, 1st Street, Nungambakkam, Chennai-600034,
Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
20.02.2004 |
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Com. Reg. No.: |
18-52579 |
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CIN No.: [Company
Identification No.] |
U51507TN2004PTC052579 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEI4957B |
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PAN No.: [Permanent
Account No.] |
AABCI2427D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealer of Bio Medical and Electronics 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 800 |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a very small importers and trader. Trade relations are
fair. No payment are available. Banking relations are unknown. The company can be considered for small business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. K.G. Mauyavalan |
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Designation : |
Assistant Manager |
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Date : |
11.06.2008 |
LOCATIONS
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Registered Office : |
14B, Dr. Thirumurthy Nagar, 1st Street, Nungambakkam,
Chennai-600034, Tamilnadu, India |
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Tel. No.: |
91-44-28211144/ 28220749 |
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Fax No.: |
91-44-28211145 |
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E-Mail : |
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Website : |
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Area : |
Rented |
DIRECTORS
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Name : |
Mr. Ganapathy Padmanabhan |
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Designation : |
Managing Director |
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Address : |
15/27, Thiru Nagar, 15th Block, Villivakkam,
Chennai-600049, Tamilnadu, India |
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Date of Birth/Age : |
04.12.1960 |
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Qualification : |
Engineer |
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Date of Appointment : |
20.02.2004 |
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Name : |
Mr. Nagarthinam Padmanabhan |
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Designation : |
Director |
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Address : |
15/27, Thiru Nagar, 15th Block, Villivakkam,
Chennai-600049, Tamilnadu, India |
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Date of Birth/Age : |
09.09.1962 |
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Date of Appointment : |
20.02.2004 |
KEY EXECUTIVES
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Name : |
Mr. K.G. Mauyavalan |
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Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2007
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Names of Shareholders |
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No. of Shares |
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Ganapathy Padmanabhan |
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5000 |
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Nagarathinam Padmanabhan |
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5000 |
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Total |
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10000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer of Bio Medical and Electronics Equipments |
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Products : |
Radiotherapy
Neurosurgery
Other Products
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Imports : |
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Products : |
Bio Medical and Electronic Equipments |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
Credit |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
15 |
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Bankers : |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Umesh Gulecha Chartered Accountant |
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Address : |
Umesh Gulecha and Company, New No. 59, (Old No. 26), First Floor, Sait
Colony, 2nd Street, Egmore, Chennai-600008, Tamilnadu, India |
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Name : |
H. K. Chhajed and Company |
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Address : |
353, Mint Street, ‘Nakoda Plaza’ 1st Floor, Chennai-600079,
Tamilnadu, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.100
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.079 |
0.039 |
0.027 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.179 |
0.139 |
0.127 |
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LOAN FUNDS |
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1] Secured Loans |
0.267 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.265 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.002 |
0.002 |
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TOTAL |
0.444 |
0.141 |
0.129 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.074 |
0.177 |
0.088 |
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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 |
0.033 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.541
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0.783 |
0.009 |
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Sundry Debtors |
0.000
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0.464 |
0.593 |
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Cash & Bank Balances |
0.510
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0.303 |
0.409 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
4.403
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1.022 |
0.147 |
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Total
Current Assets |
5.454
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2.572 |
1.158 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
5.886
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2.630 |
1.108 |
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Provisions |
0.247
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0.000 |
0.015 |
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Total
Current Liabilities |
6.133
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2.630 |
1.123 |
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Net Current Assets |
[0.679]
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[0.058] |
0.035 |
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MISCELLANEOUS EXPENSES |
0.016 |
0.022 |
0.006 |
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TOTAL |
0.444 |
0.141 |
0.129 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
-- |
6.018 |
5.200 |
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Other Income |
-- |
0.000 |
0.000 |
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Total Income |
-- |
6.018 |
5.200 |
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Profit/(Loss) Before Tax |
0.145 |
0.085 |
0.047 |
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Provision for Taxation |
0.105 |
0.073 |
0.017 |
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Profit/(Loss) After Tax |
0.040 |
0.012 |
0.030 |
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Earnings in Foreign Currency : |
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FOB Value |
3.029 |
1.766 |
0.000 |
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Imports : |
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CIF Value |
0.371 |
0.375 |
0.000 |
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Expenditures : |
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Depreciation & Amortization |
0.391 |
0.062 |
0.000 |
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Other Expenditure |
0.000 |
5.871 |
5.153 |
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Total Expenditure |
0.391 |
5.933 |
5.153 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
N.A.
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0.19 |
0.58 |
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Net Profit Margin (PBT/Sales) |
(%) |
N.A.
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1.41 |
0.90 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.22
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3.09 |
3.77 |
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Return on Investment (ROI) (PBT/Networth) |
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0.81
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0.61 |
0.37 |
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Debt Equity Ratio (Total Liability/Networth) |
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35.74
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18.92 |
8.84 |
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Current Ratio (Current Asset/Current Liability) |
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0.88
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0.98 |
1.03 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
- G.G.
Hospital, Tamilnadu
- Appolo
Hospital
AS PER WEBSITE
Profile:
The subject Established in 1995 by the Technocrats having over 18 years
of combined expertise
in technology and mentoring experience in advanced areas of Biomedical
Engineering, Medical
Imaging Technology and Power Electronics
Growing with a consistent progress and mentoring engagements, Indelect
Technologies has now diversified activities and has prestigious representations
both from India and Abroad.
THE INDELECT TEAM
G.Padmanaban - know as 'GP' in the field, has technical expertise in
handling High End Imaging and radiotherapy Products.Trained at all principals.
GP's main motto : Enchanced Customer Satisfaction.
N.Nandakumar - Known as 'NN' in the field, NN has over two decades of Marketing
expertise. Prior to this NN has Headed leading MNC Zonal operations. NN Brings
in two decades of full focus of customer satisfaction
The core team which bolster the strength of the above two are
experienced, qualified, Trained Sales and service Engineers.
Indelect's Wings are Widespread all over the country with shrewd
business associates.
PARTNERS
Shinva Medical
- Over 60 years of manufacturing medical equipment and pharmaceutical
machinery.
- Shinva medical is now a leading unit of China Medical Instrument
Association.
- The Leading manufacturer of Radiotherapy equipment in China.
- Have ISO9001, ISO13485, ASME quality systems, and CE, 3C
certificates.
- Listed in the Shanghai Stock Exchange Market.
Fibretek Development
- Over 18 Years of developing high duty application fibre-reinforced
composite products.
- Specialised in the design, manufacture of specialised medical
devices and instrumentation.
- Accredited ISO 9001 and ISO 13485 and CE Marking for CTSP obtained.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.42.81 |
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UK Pound |
1 |
Rs.83.75 |
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Euro |
1 |
Rs.66.10 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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26 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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