MIRA
INFORM REPORT
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Report Date : |
23.10.2008 |
IDENTIFICATION DETAILS
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Name : |
ALLENGERS MEDICAL SYSTEMS LIMITED |
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Formerly Known As : |
ALLENGERS MEDICAL PRODUCTS PRIVATE LIMITED |
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Registered Office : |
Unit No. 202, Ansal’s |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
30.07.1992 |
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Com. Reg. No.: |
53 -154688 |
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CIN No.: [Company
Identification No.] |
U33111DL1992PLC154688 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PTLA10768C |
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PAN No.: [Permanent
Account No.] |
AABCA2332H |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
Manufacturer of X-Rays machines, C-Arm Image Intensifiers,
Lithotripter, Mobile Cath Lab and Mammography |
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 400000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Mr. R.S. Kanwar, Director and Mr. Vaidya Sharma of the company
confirmed the details. Subject is a relatively small company having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade relations
are reported as fair. Business is active. Payments are however reported as
usually correct and as per commitments. The company can be considered for small business dealings at usual
trade terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. R.S. Kanwar |
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Designation : |
Director |
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Contact No.: |
Mobile no. 91-9915193690 |
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Date : |
03.10.2008 |
LOCATIONS
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Registered Office : |
Unit No. 202, Ansal’s Classique Tower, Plot No 1, J – Block, Rajouri Garden,
New Delhi – 110027, India |
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E-Mail : |
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Website : |
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Area : |
3000 sq ft |
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Location : |
Owned |
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Head Office : |
S.C.O. 212-214, Sector 34-A,
Chandigarh - 160 022, Haryana, India. |
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Tel. No.: |
91-172-3012287 / 3012285 / 2725695 |
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Mobile No.: |
91-9915193690 (Mr. R.S. Kanwar) |
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Fax No.: |
91-172-2621912 / 2708031 |
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Area : |
16000 sq ft |
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Location : |
Owned |
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Factory : |
Mubarakpur Road, Derabassi, Chandigarh, India. |
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Area : |
45000 sq mtr. |
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Location : |
Owned |
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European Representative: |
JMC Medical Sprl, 58, Avenue Du Parc De Woluwe , B – 1160
Bruxelles |
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Tel. No.: |
00/32.2.672.56.44 |
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Fax No.: |
00/32.2.662.29.92 |
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Contact Person : |
Mr. Jean Marc Cleays |
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E-Mail : |
DIRECTORS
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Name : |
Mr. R. S.
Kanwar |
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Designation : |
Managing Director |
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Address : |
Kanwar Complex, Nalagarh Road, Pinjore, India |
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Date of Birth/Age : |
03.09.1966 |
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Qualification : |
Graduate Engineering |
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Date of Appointment : |
01.01.2005 |
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Name : |
Mr. R. S.
Kanwar |
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Designation : |
Executive Director, Int. Sales |
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Name : |
Mr. Sanjeev
K. Marjara |
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Designation : |
Executive Director, Technical |
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Address : |
# 275, Sector 15 A, Chandigarh, India |
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Date of Birth/Age : |
30.12.1973 |
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Qualification : |
Graduate Engineering |
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Date of Appointment : |
01.01.2005 |
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Name : |
Mr. Arun
Sharma |
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Designation : |
Executive Director, Works |
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Address : |
# 851, Sector 16, Panchkula, India |
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Date of Birth/Age : |
17.05.1968 |
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Date of Appointment : |
01.01.2005 |
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Name : |
Mr. Suresh Sharma |
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Designation : |
Managing Director |
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Address : |
# 1802, Sector 34 D, Chandigarh, India |
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Date of Birth/Age : |
14.10.1957 |
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Date of Appointment : |
30.07.1992 |
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Name : |
Mr. R. K. Sehgal |
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Designation : |
Joint Managing Director |
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Address : |
# 351, Sector 15, Panchkula, India |
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Date of Birth/Age : |
14.12.1960 |
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Qualification : |
Graduate Engineering |
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Date of Appointment : |
04.04.1994 |
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Name : |
Mr. Surinder Mohan |
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Designation : |
Director |
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Address : |
# 30/2D, Dayal Bagh, Ambala Cantt., India |
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Date of Birth/Age : |
23.08.1943 |
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Date of Appointment : |
25.02.2004 |
KEY EXECUTIVES
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Name : |
Ms. Suruchi Chhabra |
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Designation : |
Company Secretary |
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Address : |
H No. 1414, Sector 34 C, Chandigarh – 160022, India |
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Date of Birth/Age : |
17.02.1980 |
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Date of Appointment : |
27.11.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
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No. of Shares |
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Mr. Suresh Sharma |
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136820 |
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Mrs. Samidha Sharma |
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97250 |
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Mr. R K Sehgal |
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2250 |
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Mr. M. S. Sharma |
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1250 |
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Mr. Satish Sharma |
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500 |
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Mr. Vijay Sharma |
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100 |
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Mr. Vijay Bhatia |
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330 |
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Dynamic Scrips Limited |
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5000 |
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Suma Finance and Investments Limited |
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15000 |
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Mr. Surinder Mohan |
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7000 |
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Mr. Ashok Arora |
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2000 |
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Shrey Fincap Limited |
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10000 |
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Mr. Ramesh Sharma |
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9541 |
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Lakshya Res and Dev. Private Limited |
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23000 |
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Keshav Real Estate Private Limited |
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32000 |
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Oriental Impex Private Limited |
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37500 |
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Ganga Infin Private Limited |
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5000 |
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Sparoon Marketing Private Limited |
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5000 |
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Right Choice Construction Private Limited |
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5000 |
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BIC Consultants Private Limited |
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5000 |
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Mr. Raj Kumar Verma |
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2000 |
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Touchwood Agencies Private Limited |
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7000 |
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SRS Vijay Sales Private Limited |
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7000 |
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Total |
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415541 |
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Names of Allottees |
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No. of Shares |
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Mr. Suresh Sharma |
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10000 |
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Mrs. Samidha Sharma |
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6500 |
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Suresh Sharma and Sons (HUF) |
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10000 |
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Total |
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26500 |
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Equity Share Breakup
(As on 27.09.2007) |
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Category |
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Percentage of
Holding |
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Bodies Corporate |
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31.58 |
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Directors or relatives of directors |
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66.20 |
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Other top fifty shareholders |
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2.22 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of X-Rays machines, C-Arm Image Intensifiers,
Lithotripter, Mobile Cath Lab and Mammography |
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Products : |
·
Line Frequency
X-Rays ·
High Frequency X-Ray
Machines Mobile ·
High Frequency X-Ray
Machines Fixed ·
Line Frequency C-Arm
·
High Frequency C-Arm
·
Lithotripter ·
Mammography ·
Digital Subtraction
Angiography System ·
Mobile Cath Lab |
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Exports : |
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Countries : |
Sri Lanka, Ethiopia, Asia, South East Asia, Middle East, Africa and
South America |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers, End Users and OEM’s Worldwide
Clientele
Indian
Clientele
Corporate
Hospital
Medical
Colleges
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No. of Employees : |
600 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Financial Institution : |
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Auditors : |
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Name : |
Kansal Singla and Associates Chartered Accountants |
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Address : |
503-04, Rattan Jyoti, 18, Rajendra Place, New Delhi – 110008, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
(As on
27.09.2007):-
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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514541 |
Equity Shares |
Rs.100/- each |
Rs.51.454 Millions |
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 |
51.454 |
44.654 |
39.054 |
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2] Share Application Money |
0.000 |
0.000 |
8.650 |
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3] Reserves & Surplus |
26.869 |
21.863 |
17.870 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
78.323 |
76.517 |
65.574 |
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LOAN FUNDS |
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1] Secured Loans |
46.813 |
31.361 |
25.698 |
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2] Unsecured Loans |
36.752 |
20.854 |
24.003 |
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TOTAL BORROWING |
83.565 |
52.215 |
49.701 |
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DEFERRED TAX LIABILITIES |
2.685 |
2.444 |
2.144 |
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TOTAL |
164.573 |
131.176 |
117.419 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
38.904 |
29.564 |
21.228 |
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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 |
76.490
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31.957
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21.109 |
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Sundry Debtors |
107.719
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129.302
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120.147 |
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Cash & Bank Balances |
11.004
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8.151
|
7.241 |
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Other Current Assets |
0.393
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0.000
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0.000 |
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Loans & Advances |
31.246
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26.310
|
15.481 |
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Total
Current Assets |
226.852
|
195.720 |
163.978 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
97.468
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94.108
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67.787 |
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Provisions |
3.715
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0.000
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0.000 |
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Total
Current Liabilities |
101.183
|
94.108 |
67.787 |
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Net Current Assets |
125.669
|
101.612
|
96.191 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
164.573 |
131.176 |
117.419 |
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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 |
377.508 |
334.058 |
299.813 |
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Other Income |
2.060 |
2.279 |
0.228 |
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Total Income |
379.568 |
336.337 |
300.041 |
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Profit/(Loss) Before Tax |
9.053 |
7.924 |
5.699 |
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Provision for Taxation |
3.956 |
3.798 |
2.170 |
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Profit/(Loss) After Tax |
5.097 |
4.126 |
3.529 |
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Earnings in Foreign Currency : |
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Total Earnings |
NA |
NA |
32.715 |
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Imports : |
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Total Imports |
NA |
NA |
107.829 |
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Expenditures : |
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Raw Material Consumed |
277.027 |
240.080 |
214.751 |
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Increase/(Decrease) in Finished Goods |
(16.939) |
(5.784) |
(3.569) |
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Salaries, Wages, Bonus, etc. |
35.181 |
27.718 |
23.228 |
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Managerial Remuneration |
1.762 |
2.032 |
1.056 |
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Payment to Auditors |
0.056 |
0.056 |
0.050 |
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Interest |
6.290 |
4.687 |
5.001 |
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Insurance Expenses |
0.357 |
0.650 |
0.452 |
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Power & Fuel |
1.344 |
1.486 |
1.161 |
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Depreciation & Amortization |
2.848 |
2.224 |
1.575 |
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Other Expenditure |
62.589 |
55.264 |
50.637 |
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Total Expenditure |
370.515 |
328.413 |
294.342 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.34 |
1.23
|
1.18 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.40 |
2.37
|
1.90 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.41 |
3.52
|
3.08 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.10
|
0.09 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.36 |
1.91
|
1.79 |
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Current Ratio (Current Asset/Current Liability) |
|
2.24 |
2.08
|
2.42 |
LOCAL AGENCY FURTHER INFORMATION
Notes: -
The Registered office of the company has been shifted from SCO 71 Sector 20 C, Chandigarh - 160020, UT, India to the present address w.e.f 11.09.2006
Form 8:-
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This form is for |
Modification of
charge |
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Charge
identification number of the charge to be modified |
80015715 |
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Corporate
identity number of the company |
U33111DL1992PLC154688 |
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Name of the
company |
ALLENGERS MEDICAL SYSTEMS LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Unit No. 202, Ansal’s Classique Tower, Plot No 1, J – Block, Rajouri
Garden, New Delhi – 110027, India. |
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Type of charge |
Movable Property |
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Particular of
charge holder |
Punjab National Bank S. C. F. 1/2/3, Sector 28 C, Chandigarh – 160028, India |
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Nature of description
of the instrument creating or modifying the charge |
Deed if hypothecation to secure L.C. on DA Basis |
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Date of
instrument Creating the charge |
20.09.2006 |
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Amount secured by
the charge |
Rs. 5.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 2 % over
prevailing BPLR rate Terms of
repayment Repayable on
demand Margin 10 % Extent operation
of the charge 100 % |
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Particulars of the
present modification |
ILC / FLC [DA /
DP] limit enhanced from Rs. 15.000 Millions to Rs. 20.000 Millions other
terms and conditions remain unchanged. |
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This form is for |
Modification of
charge |
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Charge identification
number of the charge to be modified |
80015715 |
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Corporate
identity number of the company |
U33111DL1992PLC154688 |
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Name of the
company |
ALLENGERS MEDICAL SYSTEMS LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Unit No. 202, Ansal’s Classique Tower, Plot No 1, J – Block, Rajouri
Garden, New Delhi – 110027, India. |
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Type of charge |
Immovable Property Movable Property |
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Particular of
charge holder |
Punjab National Bank S. C. F. 1/2/3, Sector 28 C, Chandigarh – 160028, India E-Mail: bo0574@pnb.co.in |
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Nature of
description of the instrument creating or modifying the charge |
Agreement for Inland Documentary Credit Hypothecation of Current Assets Hypothecation of Moveable Assets forming part of Fixed/ Block Assets Letter of continuity |
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Date of
instrument Creating the charge |
14.07.2008 |
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Amount secured by
the charge |
Rs.50.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
14% per annum Terms of
repayment: Repayable on demand Margin: 10 % Extent operation
of the charge: 100 % |
|
Short particulars
of the property charged |
Hypothecation of
raw materials, stock in progress, finished goods and spares, book debts,
outstanding decrees, money receivables, Government subsidies, claims, bills,
contracts and investments both present and future. All moveable assets
forming part of fixed/ block assets. Mortgage of property situated at
Bhankanpur Road, Dera Bassi by deposit of title deeds to the Bank. |
|
Date of latest modification prior to the present modification |
15.03.2007 |
|
Particulars of
the present modification |
Foreign Letter of
Credit (DA) Limits enhanced from Rs.25.000 Millions to Rs.50.000 Millions.
The Charge is secured by extension of the charge on title deeds already
deposited with the Bank. |
Trade References:
- Health and Family
Welfare Department, Kolkata
- Fortis,
Mohali
- Apollo
Hospitals, Hyderabad
Fixed Assets
- Land
- Building
- Plant and
Machinery
- Furniture and
Fixture
- Computer
- Air
Conditioner
- Electric
Equipment
- Water Cooler
- Vehicles
- Office
Equipment
- Tube Well
AS PER WEBSITE
Profile
Since 1987, healthcare providers worldwide have relied on subject, for high-quality medical technology, services and productivity solutions.
They are continually developing new diagnostic imaging technology that saves lives, and helping hospitals meet the growing demand for high-quality, medical services at prices patients can afford. Their new product introductions, growing services offerings and information technology comprise their foundation for the next century. Use the links above to learn more about their products and services. Subject has strategically positioned its sales and service, Set-ups Nationwide to provide responsive local service to customers.
Presence
Their worldwide presence includes their dealer ventures in
35 different countries in Asia, Africa, South America, Middle East and South
East Asia through whom their large No. of Equipments are working successfully
in these countries.
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 :
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.49.29 |
|
UK Pound |
1 |
Rs.80.40 |
|
Euro |
1 |
Rs.63.35 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|