MIRA
INFORM REPORT
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Report Date : |
26.11.2008 |
IDENTIFICATION DETAILS
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Name : |
TRIVENI BIOTRONIX PRIVATE LIMITED |
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Registered Office : |
Plot No.192, Gali
No.8, Deep Enclave-1, Vikas Nagar, Uttam Nagar, New Delhi – 110 059 |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
29.09.2004 |
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Com. Reg. No.: |
55-129534 |
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CIN No.: [Company
Identification No.] |
U74899DL2004PTC129534 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELT07032E |
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PAN No.: [Permanent
Account No.] |
AACCT1044L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Medical
Diagnostic 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 700 |
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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 just a 4 years old company and yet to establish itself.
Directors are young and energetic. Trade relations are reported as fair. Payments
are reported as slow but correct. The company can be considered for small to mediocre business dealings
with slight caution initially. |
LOCATIONS
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Registered Office : |
Plot No.192, Gali
No.8, Deep Enclave-1, Vikas Nagar, Uttam Nagar, New Delhi – 110 059, India |
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Tel. No.: |
91-11-25589894/25396203/25374053 |
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Mobile No.: |
91-9811384698 / 9313625888 |
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Fax No.: |
91-11-25396203 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Santosh Kumar Tiwari |
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Designation : |
Director |
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Address : |
RZ – C – 18, Dabri Extnsion [East], Near |
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Date of Birth/Age : |
09.05.1975 |
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Date of Appointment : |
29.09.2004 |
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Name : |
Mrs. Vidyavati Tiwari |
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Designation : |
Director |
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Address : |
RZ – C – 18, Dabri Extnsion [East], Near |
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Date of Birth/Age : |
10.08.1976 |
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Date of Appointment : |
29.09.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Santosh Kumar Tiwari |
5000 |
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Vidyavati Tiwari |
5000 |
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Total |
10000 |
(As on 30.09.2007)
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Equity Share
Breakup |
Percentage of
Holding |
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Category |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Medical
Diagnostic Equipments. |
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Products : |
·
Diagnostic Medical X-Ray Products -
Static
X-Ray Unit (60mA/100mA 100 KV) -
Mobile
X-Ray Unit (60mA/100mA) -
Portable
X-Ray Unit (60mA/100mA) ·
Endoscopes (Video), Colonoscopes, Bronoscopes,
etc. along with spares ·
O.T. Lights and O.T. Tables ·
High Frequency 6"/9" C-Arm Image
Intensifiers and spares ·
Lithotripters and spares ·
Mammography ·
CT Scanners and spares ·
MRI Units and spares ·
Color Doppler and spares |
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Services : |
Annual Maintenance and Repairing Receipts |
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Imports : |
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Products : |
O.T. Light Reflector and Extracorporeal Shock Wave
Lithotripsy (ESWL) |
GENERAL INFORMATION
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Bankers : |
Not Available |
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Financial Institution : |
Rajasthan Financial Corporation H.O. Udyog Bhawan, RFC RIICO Chowk, Bhiwadi Rajasthan, Tilak Marg,
Jaipur – 302 005, |
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Auditors : |
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Name : |
Greesh Chandra Gupta Chartered Accountants |
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Address : |
A – 3, Rajouri garden, |
CAPITAL STRUCTURE
Authorised 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 |
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 |
0.039 |
0.014 |
0.002 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.139 |
0.114 |
0.102 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.801 |
0.387 |
0.177 |
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TOTAL BORROWING |
0.801 |
0.387 |
0.177 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.940 |
0.501 |
0.279 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.683 |
0.527 |
0.194 |
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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 |
0.019
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0.026 |
0.007 |
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Sundry Debtors |
0.000
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0.010 |
0.000 |
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Cash & Bank Balances |
0.042
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0.143 |
0.074 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.014
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0.002 |
0.000 |
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Total
Current Assets |
0.075
|
0.181 |
0.081 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.823
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0.214 |
0.006 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
0.823
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0.214 |
0.006 |
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Net Current Assets |
(0.748)
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(0.033) |
0.075 |
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MISCELLANEOUS EXPENSES |
0.005 |
0.007 |
0.010 |
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TOTAL |
0.940 |
0.501 |
0.279 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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0.911 |
0.394 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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0.911 |
0.394 |
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Net Profit |
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0.030 |
0.012 |
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Expenditures : |
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Depreciation & Amortization |
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0.013 |
0.008 |
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0.868 |
0.374 |
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Total Expenditure |
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0.881 |
0.382 |
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 |
(%) |
3.29 |
3.05 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
3.29 |
3.05 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.71 |
1.69 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.22 |
0.11 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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11.68
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5.27 |
1.79 |
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Current Ratio (Current Asset/Current Liability) |
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0.09
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0.85 |
13.50 |
LOCAL AGENCY FURTHER INFORMATION
Form
No. 8
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Corporate
identity number of the company |
U74899DL2004PTC129534 |
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Name of the
company |
TRIVENI BIOTRONIX PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Plot No.192,
Gali No.8, Deep Enclave-1, Vikas Nagar, Uttam Nagar, New Delhi – 110 059,
India |
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This form is for |
Creation of
charge |
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Type of charge |
·
Immovable
property ·
Movable
property (not being pledge) |
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Particular of
charge holder |
Rajasthan Financial Corporation H.O. Udyog Bhawan, RFC RIICO Chowk, Bhiwadi Rajasthan, Tilak Marg,
Jaipur – 302 005, |
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Nature of
instrument creating charge |
Deed of
Hypothecation dated 27.11.2007 and loan agreement dated 27.11.2007 |
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Date of
instrument Creating the charge |
27.11.2007 |
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Amount secured by
the charge |
Rs.2.400 millions
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Brief of the principal
terms an conditions and extent and operation of the charge |
·
Rate
of Interest Interest will be payable @ 16% p.a. Interest shall be compounded
quarterly. In case of delay in repayment, liquidated damages @ 3% per annum on
the amount of default. Presently rate of rebate for timely repayment is @ 1% p.a. ·
Terms
of repayment Repayment in 13 Equated quarterly installments repayable in 3 ˝ years. The EQI has been calculated net of rebate i.e. 15% p.a. (i.e. 16% less
1%) In case of non receipt of interest and EQI within time eligible for
rebate, interest @ 1% in Lieu of Timely payment rebate against EQI as over
and above liquidated damages. Interest for Moratorium perion exceeding ·
Margin Raise and Invest Promoter contribution Rs.0.800 million by way of
internal accruals in the project. ·
Extent
and operation of the charge Equitable Mortgage by deposit of title documents of the land, building
and hypothecation of plant and machinery ·
Others None |
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Particulars of
the property charged |
Equitable Mortgage
by deposit of title documents of the land, building and hypothecation of
plant and machinery situated at G-1/492, RIICO Industrial Area, Chopanki
District Alwar, Rajasthan |
Fixed
Assets
·
Industrial Plot – RIICO
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Building at Bhiwadi
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Office Equipments
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Telephone Equipments
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Machinery
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Furniture and Fixtures
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Computer
As Per
Website
Subject
is an ISO 9001:2000 certified company providing world class medical diagnostic
solutions. Subject was founded in the year 2004 and
starting with a modest beginning, their brand soon grew into being one of
the most prominent names in the industry. Specializing in Diagnostic
Medical X-Ray Products such as Static X-Ray Unit, Mobile X-Ray Unit and
Portable X-Ray Unit, they are engaged in developing a wide range of Medical
Diagnostic Equipments which are most advanced yet highly affordable. Their
company is a highly reputed manufacturer and exporter of Endoscopes,
O.T. Lights and O.T. Tables, C-Arm Image Intensifiers, Lithotripters,
Mammography, CT Scanners, MRI Units, etc. along with the related spare
parts. Empowered by a team of experts, they have acquired distinctive expertise
in designing these equipments as per internationally recognized norms.
Subject
believes in innovation and continuous improvement so that they can avail better
product to their clients every time. As a company driven by customer centric
approaches, they are also engaged as an importer of O.T.
Light Reflector and Extracorporeal Shock Wave Lithotripsy (ESWL) from
overseas regions. As per their export market is concerned, they are now
enjoying great acclaim all over the world due to their highly sophisticated
range of products, efficient services and their unmatched quality
consciousness.
Infrastructure
They are empowered with a well established infrastructural base. Their factory
premise houses a world class manufacturing unit loaded with a range of advanced
machinery. As a technology driven company, they update their facilities most
frequently, keeping track of all the latest and emerging technologies in their
field. Besides, another most important part of their sophisticated
infrastructure is their advanced testing lab well equipped with most captive
facilities for extensive quality control operations. In addition, they have
duly established a widespread distribution network so that the clients can be
efficiently served with on-time product delivery. As a result of their
committed service and distinguished products, they are acclaimed as one of the
most reputed brands in the highly competitive international market.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 :
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 |
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US Dollar |
1 |
Rs.49.97 |
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1 |
Rs.75.45 |
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Euro |
1 |
Rs.64.21 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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27 |
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 |
|
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 |
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