MIRA
INFORM REPORT
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Report Date : |
27.10.2008 |
IDENTIFICATION DETAILS
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Name : |
GENERAL SURGICAL COMPANY INDIA PRIVATE LIMITED |
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Registered Office : |
G – 6, Gee Gee Crescxent, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
25.09.1996 |
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Com. Reg. No.: |
036627 |
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CIN No.: [Company
Identification No.] |
U33112TN1996PTC036627 |
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IEC No.: |
0497013045 |
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PAN No.: [Permanent
Account No.] |
AAACG4386R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Marketing of Surgical Implants 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 80000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as
usually made as per commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED BY
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Name : |
Mr.Samuel George |
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Designation : |
Partner |
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Contact No.: |
91-9841030607 |
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Date : |
25.10.2008 |
LOCATIONS
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Registered Office : |
G – 6, Gee Gee Crescxent, 114 Poonamallee High School Road, Chennai –
600084, Tamilnadu, India. |
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Tel. No.: |
91-44-28259602 / 28233280 |
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Mobile No.: |
91-9841030607 (Mr.Samuel W. George) |
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Fax No.: |
91-44-28259439 / 28259602 |
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E-Mail : |
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Website : |
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Area : |
1200 sq.ft. |
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Location : |
Owned |
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Branches : |
Located At : Main Factory; 43-F, Tass Industrial Estate, Ambattur, Chennai –
600098, Tamilnadu, India. Branch Unit I: 285, Sidco Industrial Estate, North Phase, Chennai –
600098, Tamilnadu, India. Branch Unit II: 91, Tass Industrial Estate, Ambattur, Chennai – 600098,
Tamilnadu, India. Madurai (Contact No. : - 91-458-5560177 ) Coimbatore (Contact No. : - 91-422-5503607 ) |
DIRECTORS
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Name : |
Mr.George P.Ebenezer |
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Designation : |
Director |
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Address : |
1131, I Block, Anna Nagar West, Chennai – 600040, Tamil Nadu, India. |
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Date of Birth : |
31.01.1968 |
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Qualification : |
BA |
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Date of Appointment : |
25.09.1996 |
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DIN No.: |
00080194 |
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Email : |
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Name : |
George O.Davis |
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Designation : |
Director |
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Address : |
Plot No.1131, I Block, 40th Street, Anna Nagar West,
Chennai – 600040, Tamil Nadu, India. |
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Date of Birth : |
24.12.1964 |
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Qualification : |
B.com |
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Date of Appointment : |
25.09.1996 |
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DIN No.: |
00079969 |
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Email : |
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Name : |
Theodore George |
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Designation : |
Managing Director |
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Address : |
Plot No.1131, I Block, 40th Street, Anna Nagar West,
Chennai – 600040, Tamil Nadu, India. |
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Date of Birth : |
08.09.1930 |
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Date of Appointment : |
25.09.1996 |
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DIN No.: |
00080098 |
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Email : |
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Name : |
George S. Williams |
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Designation : |
Director |
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Address : |
Plot No.1131, I Block, Anna Nagar West, Chennai – 600040, Tamil Nadu,
India. |
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Date of Birth : |
03.06.1962 |
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Qualification : |
B.Tech |
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Date of Appointment : |
25.09.1996 |
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DIN No.: |
00080039 |
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Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As per Registry Records
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Names of Shareholders |
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No. of Shares |
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Mr.Theodore George |
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151272 |
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Mr.Samuel Williams George |
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151074 |
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Mr.Oliver Davis George |
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161174 |
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Mr.Paul Ebenezer George |
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157674 |
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Mrs. Kamala George |
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53603 |
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Mr.Ravikumar |
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56003 |
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Mr.Darig Oliver |
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52900 |
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Mrs.Jennifa Paul |
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47900 |
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Mrs.Shiela Samuel |
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46400 |
AS ON 31.03.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Marketing of Surgical Implants and Surgical
Instruments. |
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Imports : |
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Products : |
v
Raw Material |
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Countries : |
v
China v
Germany v
Pakistan |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL INFORMATION
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Suppliers : |
v
Aadhi A v
Advanced Pneumatics Private Limited v
Annai Traders, Chennai v
Ansell Medical Products v
Aryan Enterprises v
A.T.R. Enterprises, Chennai v
Baby Plastic, Ekkttutnangal v
Bharat Enterprises, Delhi v
Bharathi Enterprises v
Bhaskaran .k v
Blackstone Ind.Inc. USA v
Cadem Technologies Private Limited v
Cam Tech Industries v
Central Surgical, Pakistan v
Chami.P.K v
Chandran.E v
Chandran P v
Chennai Trading Company v
Classic metal, Mumbai v
Divya Agencies v
Deepak marketing v
Danand Engineers v
Electronica Machine Tools Limited |
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Customers : |
v
Acharya Med.Col and Hosp. Jammu v
Advance Neuro Science Hosp. v
Ahujasons Surgicals, New Delhi v
Anna Gandhi Memorial Government Hospital v
Apollo Hospital, Bangalore v
Apollo Speciality Hospital, Mdu v
DHS Jammu v
DHS-Srinagar v
Director of Family Welfare v
Director of Public Health, Chennai v
DM AND RHS, MS v
Down Town Hospital, Assam v
Dr. Mohandas, Nagercoil v
Dr.Navalkha, Delhi v
Esi Corporation Hospital, Kk Nagar v
Global Surgicals v
Government Hospital Kodavasal v
Government. H Q H, Nagercoil |
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No. of Employees : |
210 (in office 50 + in factory 150 + in branches 10 ) |
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Bankers : |
v
HDFC Bank, Cbe Gesco Branch v
HDFC Bank, Madurai Gesco Branch v
SBH v
South Indian Bank Limited Mylapore Branch, Chennai. |
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Facilities : |
Secured Loans
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr.R.Soundararajan Chartered Accountant |
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Address : |
No. 23/43, (Old no. 9), 18th Street, Nanaganallur, Chennai
– 600061, Tamilnadu, India. |
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Tel. No.: |
91-44-22240838 |
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Sister Concern : |
Canmec Medical Deviecs |
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Address : |
G – 6, Gee Gee Crescxent, 114 Poonamallee High School Road, Chennai –
600084, Tamilnadu, India |
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Line of Business : |
Manufacturer and Marketing of Surgical Implants and Surgical
Instruments. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10/- Each |
Rs.10.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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726600 |
Equity Shares |
Rs. 10/- Each |
Rs.7.266 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 |
7.266 |
7.266 |
4.657 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
8.829 |
8.431 |
6.770 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
16.095 |
15.697 |
11.427 |
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LOAN FUNDS |
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1] Secured Loans |
26.479 |
16.264 |
13.946 |
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2] Unsecured Loans |
0.000 |
0.770 |
1.120 |
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TOTAL BORROWING |
26.479 |
17.034 |
15.066 |
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DEFERRED TAX LIABILITIES |
1.330 |
1.072 |
1.072 |
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TOTAL |
43.904 |
33.803 |
27.565 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
30.386 |
18.849 |
18.522 |
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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 |
3.648
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3.305 |
3.009 |
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Sundry Debtors |
17.735
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15.459 |
12.335 |
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Cash & Bank Balances |
1.481
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3.694 |
0.977 |
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Other Current Assets |
0.000
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1.676 |
2.298 |
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Loans & Advances |
5.213
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1.690 |
2.138 |
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Total
Current Assets |
28.077
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25.824 |
20.757 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
11.110
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8.369 |
8.730 |
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Provisions |
3.449
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2.501 |
2.984 |
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Total
Current Liabilities |
14.559
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10.870 |
11.714 |
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Net Current Assets |
13.518
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14.954 |
9.043 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
43.904 |
33.803 |
27.565 |
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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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67.663 |
63.389 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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67.663 |
63.389 |
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Profit/(Loss) Before Tax |
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5.586 |
3.521 |
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Provision for Taxation |
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1.765 |
1.861 |
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Profit/(Loss) After Tax |
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3.821 |
1.660 |
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Expenditures : |
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Financial Charges |
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2.155 |
1.437 |
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Depreciation & Amortization |
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4.094 |
2.629 |
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Other Expenditure |
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55.828 |
55.802 |
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Total Expenditure |
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62.077 |
59.868 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
5.64
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2.61 |
- |
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Net Profit Margin (PBT/Sales) |
(%) |
8.25
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5.55 |
- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.55
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7.88 |
- |
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Return on Investment (ROI) (PBT/Networth) |
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0.34
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0.22 |
- |
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Debt Equity Ratio (Total Liability/Networth) |
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2.54
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1.77 |
2.34 |
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Current Ratio (Current Asset/Current Liability) |
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1.92
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2.37 |
1.77 |
LOCAL AGENCY FURTHER INFORMATION
DIRECTORS REPORT
The Performance of the company for the current year continues to be
satisfactory. The profit before deprecation and tax has grown by 57.40%
compared to the last year.
With constant vigil over ever-changing technological trends and
consistent upgrading of equipment, the company is able to provide value added
products to its customers.
The Directors re-assure that all efforts shall continue to sustain
satisfactory margin and to further consolidate retained earnings.
FIXED ASSETS
Ř
Land
Ř
Factory Building
Ř
Plant and Machinery
Ř
Turn Mill Centre
Ř
VMC, Hass-Vmc
Ř
Plug and Play Vmc
Ř
Furniture and Fittings
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Motor Car
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Electrical Fittings
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Office Equipments
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Air Conditioner
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Computer
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Laser Mark
Ř
Citizen sliding mach
TRADE REFERENCES:
v Cannan Medical Equipment Comp, Chennai
v Birwaeia Metals Comp, Chennai
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Additional Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 33291122125
(as claimed but not available online) |
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IEC Code : 0497013045 |
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PAN / TAN : AAACG4386R |
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Bank Name : South
Indian Bank |
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Bank Address : Mylapore
Branch Chennai |
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Bank A/c. No.: 149083000001010 |
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Account Since : 12
years |
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In case of any affiliations / memberships / certifications
: |
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Name : ISO 9001 :
2000 |
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Type : 13485 |
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Expiry Date : 16.07.2010 |
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AUTHORISED STOCKISTS:
Location
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Name |
Contact Number |
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New Delhi |
91-11-24678852 / 24107685 |
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Bangalore |
91-80-25353641 |
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Cochin |
91-484-2323818 |
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Jaipur |
91-9414070099 |
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Nagercoil |
91-222026 / 223329 |
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Kolkata |
91-33-2491778 / 9433193335 |
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Pune |
91-20-25820467 |
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Nagpur |
91-712-3093300 |
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Vishakapatnam |
91-891-2525077 |
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Hyderabad |
91-40-27901634 |
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.49.95 |
|
UK Pound |
1 |
Rs.79.56 |
|
Euro |
1 |
Rs.63.65 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
|
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
|
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 |
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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 |
|
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 |
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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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