MIRA
INFORM REPORT
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Report Date : |
20.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
LIFE LINX |
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Registered Office : |
258, Kilpauk Regency Kilpauk Garden Road,
Kilpauk, Chennai - 600 010, Tamil Nadu, India |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2004 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Exporter and Importer of surgical disposables and surgical
instruments. |
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 25000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. Nothing adverse reported. |
INFORMATION PARTED
BY
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Name : |
Mr. Kamal Sanghavi |
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Designation : |
Proprietor |
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Contact No.: |
91-44-42857947 |
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Date : |
12.06.2008 |
LOCATIONS
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Registered Office : |
258, Kilpauk Regency Kilpauk Garden Road, Kilpauk,
Chennai - 600 010, Tamil Nadu, India |
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Tel. No.: |
91-44-42857947 |
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Mobile No.: |
91-9962030750 |
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Fax No.: |
91-44-42857947 |
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E-Mail : |
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Website: |
SOLE PROPRIETOR
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Name : |
Mr Kamal Sangvi |
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Designation : |
Proprietor |
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Profile: |
Mr. Kamal Sanghvi is the CEO of the
organization and manages the business with his skills and abilities. He is a
graduate in commerce from University of Madras. Joined family business in
Year 2000 as Manager – Administration. A year later, he was promoted as
Marketing Manager to handle specialty medical devices. After 3 years, he was
promoted as CEO to identify new product lines and develop retail showroom. |
BUSINESS DETAILS
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Line of Business : |
Exporter and Importer of surgical disposables and surgical
instruments. |
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Products : |
v
Thermotex Platinum System v
Abdominal Belt v
Lumber Sacro Belt v
Cervical Collar Soft v
Pouch Arm Sling v
Varicose Vein Stockings v
Steel Wheel Chair - Standard v
Steel Wheel Chair - Deluxe v
Aluminum Alloy Wheel Chair v
Power Wheel Chair v
Commode Chair v
Aluminum Underarm Chair v
Latex Examination Gloves v
Adult Diapers v
Underpads v
Air Beds v
Water Beds v
Back Support v
Glucometers v
Digital BP Apparatus etc. v Surgical
Instruments v Disposables v Rehabilitation
Aids v Wheelchairs v Walkers v Crutches v Commodes v Glucometers
v Nebulisers
v Heating
Pads v BP
Monitors |
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Exports : |
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Products : |
Medical accessories |
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Countries : |
UK and Korea |
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Imports : |
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Countries : |
Belgium |
GENERAL
INFORMATION
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Supplier: |
v
Medical Research
Foundation, Chennai. v
Madras
Medical Mission, Chennai. v
Christian
Medical College and hospital, Vellore. v
JIPMER,
Pondicherry. v Lister Metropolis Laboratory for
south india supplies |
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No. of Employees : |
4 |
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Bankers : |
Indian Bank, Kellys Branch, Kilpauk,
Chennai 600010, Tamilnadu |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2007
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Capital Investment : |
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Owned : |
Rs. 5.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 5.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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10.000 |
LOCAL AGENCY
FURTHER INFORMATION
Profile
Established in year 2004, Subject is a creation of 30 year old family
run business of surgical disposables & surgical instruments with an aim to
serve the retail customers with high quality rehabilitation range of products,
home care range of products and to serve specialty divisions of hospitals like
oncology, anesthesiology, plastic surgery. Their main aim is to serve as one stop shop for all surgical &
healthcare range of high quality products.
They are one of the fastest growing Indian companies in the medical instruments
sector, Life Linx has become a complete source for different array of home
health care medical products, Rehabilitation aids, etc. They focus on supplying
assured quality products to international & domestic market in stipulated
time period. Further, the product packaging is done in sanitized surroundings
to ensure complete protection & surety. They have also opened an exclusive
showroom for rehabilitation aids and other home healthcare products.
In their recent accomplishments, they have a tie-up with Belgium based
company for plastic surgery and dermatology range of products on exclusive
all-India basis for 5 years, starting Jan 2008. They have also been awarded as
an exclusive distributor for surgical optical lopes and microscopes for
pathological dept.
v
Entered into an agreement with a Belgium based company for plastic
surgery and dermatology range of products on exclusive all -India basis.
v
Entered into an agreement with Jaipur based rehabilitation and furniture
manufacturer for South-India distributorship.
They
are sole distributors for the state of Tamilnadu for the following companies:
v
Romsons Group of Companies, Agra
v
Actifit India Private Limited, Mumbai
v
Gallant Disposable Skin Blades, Sweden
v
Trikasafe Range of Examination and Surgical Gloves, Bangalore
v
Tufft Range of Surgical Instruments, Jaipur
v
Cardinal
Health, USA, for Biopsy Range of products.
v
Anmol range
of rehabilitation aids, Jaipur
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.42.93 |
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UK Pound |
1 |
Rs.84.17 |
|
Euro |
1 |
Rs.66.82 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
YES |
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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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46 |
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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