MIRA
INFORM REPORT
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Report Date : |
05.04.2011 |
IDENTIFICATION DETAILS
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Name : |
S.M. SCIENTIFIC INSTRUMENTS PRIVATE LIMITED |
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Registered
Office : |
14-U.A, Jawahar Nagar, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.04.2001 |
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Com. Reg. No.: |
55-110347 |
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CIN No.: [Company Identification
No.] |
U29298DL2001PTC110347 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Laboratory
Equipments, Laboratory Instruments, Hospital Furnitures, Medical Devices,
Refrigeration Appliances and Diagnostic Medical Devices |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 34000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. Profit and Loss A/c of the company is not available. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
14-U.A, Jawahar Nagar, |
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Mobile No.: |
91-9711148797 (Mr. O.P. Jindal) / 91-9711148796 (Mr. Mayank Jindal) |
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E-Mail : |
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Website : |
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Corporate Office : |
A-24, Anand Vihar, Near Petrol Pump, |
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Factory : |
4/26, Site IV, Industrial Area, Sahibabad District, Gahaziabad –
201010, |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. |
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Designation : |
Director |
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Address : |
A-24, Anand Vihar, |
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Date of Birth/Age : |
20.10.1956 |
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Date of Appointment : |
09.04.2001 |
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Name : |
Mrs. Upasana Jindal |
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Designation : |
Director |
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Address : |
A-24, Anand Vihar, |
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Date of Birth/Age : |
14.01.1963 |
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Date of Appointment : |
09.04.2001 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Mr. |
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150000 |
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Mrs. Upasana Jindal |
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100000 |
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Total |
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250000 |
As on 30.09.2010
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Category |
Percentage |
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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 of Laboratory
Equipments, Laboratory Instruments, Hospital Furnitures, Medical Devices,
Refrigeration Appliances and Diagnostic Medical Devices. |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Atul Kumar Jain Chartered Accountant |
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Address : |
A-24, Anand Vihar, |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.500 |
2.500 |
2.500 |
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2] Share Application Money |
4.725 |
2.540 |
1.889 |
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3] Reserves & Surplus |
1.181 |
0.912 |
0.398 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
8.406 |
5.952 |
4.787 |
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LOAN FUNDS |
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1] Secured Loans |
6.503 |
10.699 |
2.060 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
6.503 |
10.699 |
2.060 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
14.909 |
16.651 |
6.847 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
9.563 |
2.918 |
3.139 |
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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 |
6.026
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2.049 |
1.327 |
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Sundry Debtors |
2.046
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8.821 |
8.919 |
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Cash & Bank Balances |
0.052
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0.038 |
0.206 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
5.073
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13.109 |
5.415 |
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Total
Current Assets |
13.197
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24.017 |
15.867 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities and Provisions |
7.854
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10.290 |
12.167 |
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Total
Current Liabilities |
7.854
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10.290 |
12.167 |
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Net Current Assets |
5.343
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13.727 |
3.700 |
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MISCELLANEOUS EXPENSES |
0.003 |
0.006 |
0.008 |
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TOTAL |
14.909 |
16.651 |
6.847 |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.71
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3.53 |
2.97 |
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Current Ratio (Current Asset/Current Liability) |
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1.68
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2.33 |
1.30 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS :
During the period the company has made turnover of Rs.17.440 Millions
and the operations have resulted in a profit of Rs.0.391 Million. The directors
expect good business in the coming years since efforts are being made to secure
business for the company.
FIXED ASSETS :
- Car (Indica)
- Car (Innova)
- Car (Santro)
- Cellular
Phone
- Computer
- Cycle
- Furniture
- Invertor
- Machinery
- Television
- Building
- Machinery
- Generator
WEB DETAILS
ABOUT COMPANY :
Under the leadership of Mr. O.P. Jindal, “Jindal” group of companies
was established in 1972 with a vision to provide highest quality products in
the field of health care. Since then they have strived to provide best quality
equipments to various establishments like laboratories, hospitals, medical
institutions and research centres across the globe. Since incorporation their
brand mark “Jindal” became one of the top brands in the field of manufacturing
and exporting scientific/laboratory instruments, hospital equipments and
hospital furniture. Today they enjoy the reputation of a “Forward Thinking and Progressive
Organization” offering a complete range of products and after sales
assistance to its customers in the respective fields around the globe. They
maintain a strong and active presence in the market by innovating advancement
and improvement in scientific and healthcare standards.
Subject, The flagship company of
“Jindal” was formed to provide further assistance and advantages of new
technologies in the field of health care through their vast range of network dealership
around the globe. All the business activities are handled by group of well
trained Engineers / Technicians with strong technical and management skills to
provide World Class services to all their customers. The company has a special
division for the international dealing with a strong and committed group of
well-trained staff.
They have their own state-of-the-art facilities for research, develop, design
and production of all the products. Their well trained and professional team
strives to develop and produce precise and accurate equipment for all their
customers. They were awarded ISO
9001:2008 for strictly following quality procedures by NORWEIGIAN ACCREDITATION Company. They
follow national and international standards like ISI, UL, and CE etc for their
instruments. They have developed a quality management system of their own to
provide the best quality product to their clients. Their dedication to quality
is unparalleled and they are committed to set new standards to provide
world-class quality products.
As a part of further expansion to meet the raising demands, they have set up a
multi-storeyed infrastructure with all production facilities including in house
testing of equipments at Sahibabad Industrial Area in Uttar Pradesh. They have
also installed latest production machine like high speed CNC Turret Punch
Press, Press Brakes, Argon / spot Welding, turning / milling machines for all
their production needs.
The implementation of innovative concepts, the determination of trends and
developments has been and remains a principle for “Jindal” brand.
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 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
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Indian Rupees |
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US Dollar |
1 |
Rs.44.65 |
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1 |
Rs.71.92 |
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Euro |
1 |
Rs.63.24 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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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 |
3 |
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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 |
2 |
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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 |
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 |
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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26 |
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 |
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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- |
NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.