MIRA
INFORM REPORT
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Report Date : |
24.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
MRK HEALTHCARE |
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Registered Office : |
B4/B5, Byculla Service Industries, D K |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1996 |
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Com. Reg. No.: |
MHN 4071 |
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IEC No.: |
0398062170 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM14923G |
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Legal Form : |
Partnership Concern With an Unlimited Liability of the Partner |
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Line of Business : |
Manufacturer, Trader and Exporter of Surgical Products and Electro
Medical Products |
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 431070 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established concern having satisfactory track. Trade relations are fair.
General financial position is satisfactory. Payments are reported as slow but
correct. The concern can
be considered normal for business dealings at usual trade terms and
conditions. Nothing adverse reported. |
LOCATIONS
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Registered Office : |
B4/B5, Byculla Service Industries, D K Marg, Sussex Road, Byculla
East, Mumbai 400027, Maharashtra, India. |
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Tel. No.: |
91-22-23748371 /
72 / 73 |
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Mobile No.: |
91-9821164127 /
9820059563 |
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Fax No.: |
91-22-23748370 /
22876952 |
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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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Factory : |
Panch Pippal,
Vill Hansapur, Unjha Patan Road, Patan [North Gujarat] |
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Tel. No.: |
91-2766-230724 |
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Fax No.: |
91-2766-230278 |
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E-Mail : |
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Area : |
9 Acer |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Rajanikant R.
Shah |
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Designation : |
Partner |
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Address : |
Shubh Sandesh
Cooperative Society, Flat No. 601, 6th Floor, 16 Hansraj Lane,
Byculla [East], Mumbai – 400027, Maharashtra, India |
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Date of Birth/Age : |
25.09.1949 |
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Qualification : |
MSC. Research |
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Experience : |
33 Years |
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Name : |
Mr. Mahesh Shah |
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Designation : |
Partner |
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Address : |
Flat No. 12, 2nd
Floor, Stardust 80 – AB, Nepean Sea Road, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
18.07.1947 |
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Qualification : |
B. E. [Mech.] |
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Experience : |
36 Years |
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Name : |
Mr. Kamlesh Shah |
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Designation : |
Partner |
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Address : |
Kamal Kunj
Cooperative Housing Society, Flat No. 705B / 706B, Chivda Lane, Lalbaug,
Mumbai – 400012, Maharashtra, India |
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Date of Birth/Age : |
06.08.1953 |
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Qualification : |
BSC Hons. |
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Experience : |
30 Years |
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Name : |
Mr. Yogesh Shah |
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Designation : |
Partner |
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Address : |
Shubh Sandesh
Cooperative Society, Flat No. 601, 6th Floor, 16 Hansraj Lane,
Byculla [East], Mumbai – 400027, Maharashtra, India |
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Date of Birth/Age : |
19.11.1971 |
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Qualification : |
D.I.S.P.D.M.E. |
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Experience : |
15 years |
KEY EXECUTIVES
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Name : |
Mrs. Geetanjali
P. Kadam |
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Designation : |
Manager –
Marketing |
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Mobile No : |
91-9820059563 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader and Exporter of Surgical Products and Electro
Medical Products |
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Products : |
v Gloves Surgeons & Examination of Latex rubber & plastic v Catheters Foleys Balloon type & external male type. v Infusion , Blood transfusion Sets & Blood collection bags v Teflon Intra Venous Cannula. v Ryles tube, Feeding tube, Suction catheter & nelaton catheter etc. |
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Brand Names : |
NULIFE |
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Exports : |
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Products : |
·
Surgical
Goods Medical Disposables, ·
Surgical
Gloves, ·
U-Drain
and Surgical Disposables |
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Countries : |
·
Sudan ·
Italy ·
Poland |
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Imports : |
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Countries : |
Malaysia
[Bevaloid] |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days) |
PRODUCTION
STATUS
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Particulars |
Licensed Capacity |
Installed Capacity |
Actual Production |
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Surgical Rubber Gloves |
N.A. |
2500000 PRS/Month |
2325000 Pcs/Month |
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U – Drain |
N.A. |
175000 Pcs/Month |
157500 |
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Penrose Tubing |
N.A. |
Against Order |
135000 Pcs/Month |
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Nebulizer Piston Type |
N.A. |
150 Pcs/Month |
3375 Pcs/Month |
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Needle Burner & Syringe Distroyer |
N.A. |
200 Pcs/Month |
4500 Pcs/Month |
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Folley Balloon Catheter |
N.A. |
250000 Pcs /Month |
230000 Pcs/Month |
GENERAL
INFORMATION
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Customers : |
Wholesalers, Institute > Linachem Sdn
Bhd Jalan 4/10B > Taman
Industry > Spring Crest
Selangor, Malaysia |
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No. of Employees : |
680 |
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Bankers : |
> Central Bank
of India Opera House, Mumbai – 400004 > Standard
Chartered Bank M. G. Road, Fort, Mumbai > HDFC Crawford Market, Mumbai |
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Facilities : |
The concern
reported to enjoy some facilities from its Bankers. |
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Auditors : |
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Name : |
Alay P. Shah Chartered
Accountant |
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Mobile No.: |
91-9322254626 |
CAPITAL STRUCTURE
(As on31.03.2006)
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Capital Investment : |
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Owned : |
Rs. 61.856
Millions |
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Borrowed : |
Rs. 24.358
millions |
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Total : |
Rs. 86.214
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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400.000/500.000 |
Expected Sales (2008-09) : Rs.600.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
·
Central
Medical Supplies Public Corporation
P. O. Box 297, Khartoum, Sudan
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Novomed
·
Trimpeks
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Eco
Instal
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Alpha
Medicare & Surgical, Ahmedabad
Contact Person : Mr. Aslam Bhai
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Harsoriya
Healthcare Private Limited, Gurgaon
Contact Person : Mr. Neeraj Gupta
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Eastern
Medikit, New Delhi
Mr. Tyagi
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Theatex,
Vasai, District Thane, Maharashtra
Contact Person : Mr. Ganesh
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Bharvada
Healthcare Private Limited,
Princes Street.
·
Orient
Scientific, Andheri.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.79 |
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UK Pound |
1 |
Rs.81.27 |
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Euro |
1 |
Rs.63.91 |
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 |
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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45 |
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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